Flood insurance coverage take up rate still low

By CARSIFU | 23 June 2022


KUALA LUMPUR: Motorists should not take risks and forgo flood coverage which is still facing a poor take up rate.

According to Allianz Malaysia, the General Insurance Association of Malaysia (PIAM) revealed earlier this year that only 4% of Malaysians nationwide purchased flood insurance coverage.

Allianz Malaysia Bhd chief executive officer Sean Wang said Malaysian motorists continue to wrestle between paying for insurance coverage versus the probability of making a claim when buying or renewing vehicle insurance.

“However, following all the flood-related events last year, having adequately coverage should trump everything else.

“As general insurers, we have always relied on finding actionable ways to put our customers first.

“Each service we offer is curated to ensure that our customers experience a fast, easy and seamless journey when making an accident claim or using our other services,” said Wang.

In 2021, 64,000 Allianz General Insurance Co (Malaysia) Bhd (Allianz General) customers benefited from the insurer's Allianz Road Rangers service due to accident, breakdown, and flood-related incidents.

A complimentary service for Allianz Motor Comprehensive (Private car), Allianz Motorcycle Plus (Comprehensive) and Allianz Motorcycle (Comprehensive) policyholders, the Allianz Road Rangers provides towing services as well as claims concierge services at police stations, fast claims approval and vehicle delivery after repairs for cars, as well as emergency petrol delivery, assistance for flat tyre or battery issues for distressed vehicles.

Wang.
Wang.


In addition, Allianz General also offers Allianz Windscreen Replacement On-the-Go service for Motor Private Car Comprehensive policyholders with windscreen cover in the Klang Valley and major cities nationwide.

Allianz customers can call to set up an appointment, and an Allianz-branded on-the-go service car will be dispatched to the customer’s location with the entire service completed in three hours.

The cashless service does not require filling out forms, thus eliminating long wait-time and tedious processes and includes genuine glass replacements and a lifetime warranty.

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