There is a difference in pricing from different insurers due to motor insurance liberalisation. Motor insurance liberalisation refers to the removal of price control for car insurance products previously imposed by the Motor Tariff. Under this system, individual insurers and takaful operators are given the freedom to determine the pricing of their own insurance products.

Choosing the best insurer that fits your insurance premium budget is the key to obtaining a lower premium. Insurance companies often offer discounts that may apply, subject to terms and conditions.

Motor Insurance premiums are determined by the insurer based on various risk characteristics of the policyholder. The higher the potential risk, the higher the premium, and vice versa.

Most policies include an excess, which is the amount to be paid by the policyholder in the event of a claim. There is both a compulsory excess, imposed by the insurer, and a voluntary excess. The phrase 'total excess' combines these two factors and is the amount the policyholder pays in the event of a claim.

Market Value coverage is an insurance policy that covers the amount based on the insurance company's estimate of what the car is worth in the open market. In the event that anything happens to the car, the policyholder can only claim as much as the current market value/worth of the car model at that point in time. Generally, Market Value coverage premiums tend to be lower.

Agreed Value coverage is an insurance policy that covers the amount agreed upon between the policyholder and the insurance company. In the event that anything happens to the car, the Agreed Value coverage can provide the compensation the policyholder will receive from the insurance company if the car is written off or stolen. Generally, Agreed Market coverage premiums tend to be higher.

A comprehensive motor insurance policy is a type of policy that provides protection to your car from liabilities to other parties, such as death or physical injury, property damage to others, accidental or fire damages to your car, and theft.

"Non Claim Discount" or "NCD" is a discount given for every claim-free year of the policyholder.

The quoted NCD rate may differ from the policyholder's record if there was a claim lodged or if an NCD withdrawal was requested to transfer to another car. Policyholders can check their current NCD rate via https://www.mycarinfo.com.my/

NCDCheck/Online. 

Comprehensive Motor Insurance policies generally do not cover losses due to the policyholder's death or bodily injury resulting from a motor accident, claims from passengers in the policyholder's vehicle, or loss, damage or liability arising from an act of nature such as flood, storm or landslide. Please refer to the policy contract for the full list of exclusions under this policy.

The sum to be insured should be based on the market value of the car. Market Value represents the value of the car with an allowance for wear and tear and/or depreciation.

Loading is an additional amount built into the insurance cost that covers the losses that arise from insuring an individual who is prone to a form of risk and the losses for that period are expected to be higher than anticipated.