Malaysia Honda car owners have the option to renew their car insurance with authorized Honda dealer under Honda Insurance Plus (HIP) package , or to renew it themselves with general insurance company.
The price of HIP is generally higher than other insurers. In addition, most general insurance company will give a 10% discount if you renew your car insurance with them online, using their website without going through any insurance agent.
Anyhow, below are the benefits of HIP compared with other insurers:
Underwriting Terms:
No excess clause up to 10 years. The insurance policy covers 100% of the cost of any accident repair to your Honda car.
Other insurers may impose excess or even decline based on age of vehicle, vehicle model, age of insured and/or claims history.
Agreed Value:
100% sum insured up to 10 years. The sum insured is based on purchase price for 1st year, and subsequently based on recommended Insurance Service Malaysia (ISM) valuation price.
100% pay-out for theft or total loss.
Other insurers' agreed value might be unconditional based on market value.
Betterment Charges:
HIP betterment charges for old car repairs up to 10 years:
- 1st to 10th year = 0%
- 1st to 4th year = 0%
- 5th year = 15%
- 6th year = 20%
- 7th year = 25%
- 8th year = 30%
- 9th year = 35%
- 10th year and above = 40%
Body & Parts Replacements:
Honda genuine body and parts replacements with 6 months warranty or 10,000km service warranty.
Road Assistance:
Round-trip free towing service up to 450km. Free labour for roadside repair service up to RM200 per event.
HIP 24/7 emergency assistance contact: 1800-18-1177.
Free towing service and/or roadside repair service varies among other insurers. Some may not be available.
Claim Approval:
Speedy claim approval for value under RM20,000 for the vehicle repaired at Honda Authorized Body & Paint Centre.
Other insurers follow standard claim procedure which may take up longer time.
Other Services:
- One stop centre
- Road tax renewal
- NCD withdrawal
- Policy cancellation to transfer NCD
- Issue cover note for change of engine / chasis / vehicle number
- Assist in issue cover note for the extension of period of cover
- Advice on the insurance rules & regulations
However, HIP policy excludes the following:
- Own death or bodily injury
- Liability against claim from your passengers
- Theft of non-factory fitted vehicle accessories unless otherwise declared
- Consequential losses, depreciation, wear & tear, mechanical or technical breakdown failures
- Loss/damage arising from an act of nature
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