Thursday, January 15, 2015

Frequently Asked Questions

Q: Is Your Insurance Premium Cheaper?
A: All Insurance company premium is the same, as the rate is governed by Bank Negera. Thus, there is no difference if you purchase your insurance from Allianz or your existing company. The insurance premium rate will be the same. The only possible difference is excess or loading which is subjected to many conditions and at the discretion of the Insurance company to impose.

Q: How Do I know My NCD (No-Claim Discount)?
A: Your NCD entitlement is usually mentioned in your renewal notice from your existing insurer. However, you can check your NCD entitlement here.

Q: What is Agreed Value?
A: Agreed Value is the market value which determined by Insurance Company. If your vehicle is stolen or totally loss during the period of cover, the Insurer liable to pay this amount for such loss under terms and conditions of the policy.

Q: How do I know my Car Present Market Value?
A: It is important that you do not under-insured your car. Find out your car present value based on your car make/model via Allianz Agreed Value. Select West Malaysia or East Malaysia to check your car market value

Q: Can I insure below Market Value?
A: If you under-insured your car, you are considered as self-insured for the difference, i.e. in the event of loss/damage, you will only be partially compensated (up to the proportion of insurance) by the Insurance Company.

Q: Can I insure above market value?
A: If you over-insured, the maximum compensation you will receive is the market value of the vehicle as the policy owner cannot "profit" from motor claim. Therefore, you would have paid higher premium for nothing.

Q: What is Excess?
A: The excess is the first amount of claim borne by insured. For example, insured total claim amount is RM4,000 and have an excess of RM500 on your motor insurance, Allianz will settle the RM3,500 and insured will have to pay the balance of RM500 before the workshop release your vehicle.

Q: What is the compulsory excess for my car?
A: You will be charged a compulsory excess of RM400 as stated under endorsement 2F of the Schedule if you allow your car to be driven by the following:
  • who is under the Age of 21 years
  • who is the holder of a Provisional (L) driving license
  • who is the holder of a Full driving license of less than 2 years
  • who is not named in the Schedule
  • named in the Schedule who is less than the age of 21 years and/or the holder of a provisional (L) driving license and/or the holder of a Full driving license of less than 2 years.

Q: Why should I renew with Allianz General Insurance?
A: Allianz is the Number 1 General Insurance Company in Malaysia and is famous for fast claim approval. If you need a claim with hassle free, then, you should renew with Allianz. Allianz also offers FREE towing for 150km roundtrip.

Q: Do you cover all type of vehicles?
A: Allianz Insurance covers private and company registered cars only.

Q: Do you accept all car models?
A: Only a few car models which classified as High Risk Theft Vehicle (HRTV) will not be accepted through Allianz Insurance: (Please note the HRTV list is subject to change from time to time without further notice.)
Toyota Harrier (if Sum Insured more than RM100,000)
Toyota Camry (3 years and below)
Toyota Fortuner / Hilux / Landcruiser / Lexus / Prado aged 5 years and below
All Toyota Alphard/Velfire
Toyota Estima (5 years and below)
All Toyota Caldina
All Toyota Celica
All Subaru Impreza
Honda CRV (3 years and below)

Q: Do you provide any emergency roadside assistance? How can I reach them?
A: Yes, it is Allianz Auto Assist (AAA). It is 24 hours a day, 365 days that can be reached at 1800-88-6278 or 03-21613960.

Q: What’s a “NO CLAIM DISCOUNT” (NCD) entitlement?
A: No Claim Discount (NCD) is given to the policy holders upon renewal of motor insurance policy if no claim was made against your policy within 12 months coverage. Once you have claimed on the motor insurance then your NCD will be forfeited and falls back to 0%.

Q: Will I lose my NCD if I make a claim?
A: If any claim is made on your motor insurance policy during the period of cover, your NCD will be forfeited and revert to 0%. You will have to start to accumulate your discount in a new cycle. However, this excludes no-fault Own Damage claim and windscreen claim, provided if an additional cover for windscreen is purchased. You can check your NCD entitlement here.

Q: If I have insured more than one vehicle, will the same NCD apply for all?
A: No, one NCD percentage can only be applied to one vehicle only.

Q: Can I transfer my company registered car’s NCD to my personal car?
A: No. You can only transfer your NCD to another vehicle that belongs to you (registered under your own name).

Q: What should I do when I meet an accident?
A: After an incident that could lead to a claim you should notify Allianz immediately and call Allianz Auto Assist (AAA) if you required towing service to send your car to Allianz approved panel workshop only.
If third party vehicle is involved, note the registration number of the vehicle, nature of damage sustained and the insurer concerned. And if third party is injured, note the injuries suffered and if possible the personal details such as name, age, contact address, telephone number, etc
Lodge Police Report within 24 hours and send your insured vehicle to our approved panel workshop. Should you need claim advice and guidance, please contact Allianz customer service or your nearest Allianz branch.

Q: How do I get my car repair after accident happen?
A: You may send your car to any of Allianz 345 approved panel workshop nationwide. Allianz approved panel workshop will undertake to arrange the repairs.

Q: How long will my claim take to process?
A: For accidental damage less than RM5,000, Allianz panel workshop can immediate commence repair work without adjuster assessment. If the repair cost more than RM5,000, Allianz will send an adjuster to assess the damage within 48 hours and the workshop will start repair work after the adjuster assess the damage.
For other types of claim, Allianz aims to settle the claim within 10 working days subject to complete documentation has been obtained. Please call Allianz customer service for more details at 1300-88-1028

Q: What is loading?
A: Loading is an additional surcharge imposed on the basic premium rate to cover high risk exposure. Examples of risk factors for loading are driver age/named drivers’ age, age of vehicle, claim experience, high performance/sports car.

Q: How many named drivers can be included in the insurance coverage?
A:You can name two drivers (yourself and other) for free. However, you may also name four (4) additional drivers under your motor insurance for a small charge of RM10 per person.

Q: Do I need to inform Allianz of any changes of engine to my car?
A: Yes, you are required to inform Allianz, because change of engine may change the risk exposure and premium amount charged.

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