East Malaysia
Motor Tariff 2014 – Premium Schedules
Private Cars
| Cubic Capacity Not Exceeding | Comprehensive (RM) | Third Party (RM)(Endorsement No. 3(p) must be used) | Act (RM) |
|---|---|---|---|
| 1400 | 190.20* | 61.50 | 48.00 |
| 1650 | 213.10* | 68.70 | 55.20 |
| 2200 | 236.10* | 77.40 | 62.40 |
| 3050 | 258.10* | 85.20 | 67.20 |
| 4100 | 281.10* | 92.40 | 74.40 |
| 4250 | 303.10* | 100.20 | 79.20 |
| 4400 | 326.10* | 107.40 | 86.40 |
| Over 4400 | 348.10* | 115.20 | 91.20 |
| *Plus RM20.30 for each RM1,000 or part thereof on value exceeding RM1,000 |
Private Motorcycles
| Cubic Capacity Not Exceeding | Comprehensive (RM) | Third Party (RM)(Endorsement No. 3(p) must be used) | Act (RM) |
|---|---|---|---|
| 50 | *65.65 | 19.95 | 18.60 |
| 100 | *71.40 | 19.95 | 18.60 |
| 125 | *82.90 | 19.95 | 18.60 |
| 225 | *100.40 | 22.90 | 20.20 |
| 350 | *128.05 | 30.85 | 29.50 |
| 500 | *144.20 | 36.85 | 34.15 |
| 500 | *160.05 | 41.25 | 37.20 |
| Auto Cycles and mechanically Assisted Pedal Cycles Under 50cc | *26.90 | 10.45 | 7.75 |
| Auto Cycles and mechanically Assisted Pedal Cycles Over 50cc | *33.90 | 10.45 | 7.75 |
| *Plus RM1.70 for each RM100 or part thereof on value exceeding RM1,000 |
“Insurance premium is calculated based on the sum insured and model of the vehicle. Additionally, insurers are allowed to apply limited premium loading based on the age of the driver and the number of accidents on record. Depending on the driver’s claims history, the calculated premium to be paid is adjusted against the discount (No Claim Discount or NCD).
Typically, drivers with good driving records can enjoy a higher percentage of NCD up to 55%.
However, the driver may experience receiving different quotes from different insurers due to other factors mentioned above.
The first phase of the Liberalisation of the Motor and Fire Tariff was introduced on 1 July 2016. During this initial phase, insurers and takaful operators were given the flexibility to offer new motor products and add-on covers that were not defined under the existing tariff.
From 1 July 2017 onwards, premium rates for Motor Comprehensive; and Motor Third Party Fire and Theft products will be liberalised where premium pricing will be determined by individual insurers and takaful operators.
However, premium rates for Motor Third Party product will continue to be subjected to tariff rates.” Source from PIAM