The motorcycle insurance sector is one of the largest segments in the insurance sector. As stipulated in the Road Transport Act of 1987, motorcycle insurance is mandated for all motorcycle vehicles using roads in Malaysia. Therefore, it is essential for new vehicle owners to buy new motorcycle insurance and for older cars to renew their coverage upon expiry of any existing insurance policy.
With the overall number of motorcycle vehicles and vehicle owners going up in Malaysia, there is also an increase in the demand for more accessibility to insurance services. Fincrew has developed a platform to enable motor vehicle owners in Malaysia to buy motorcycle insurance online. This makes buying motorcycle insurance online for new vehicle owners credible, hasslefree, cost-effective, and only takes a few minutes from start to finish.
Apart from availing motorcycle insurance online from various providers, motorcycle vehicle owners also have the option of motorcycle insurance renewal to renew their existing policy on the platform. Motorcycle vehicle owners can renew their insurance policies entirely online. So before a current policy is about to mature or expire, or even after it has matured or expired, a vehicle owner can opt to renew their insurance.
Whether you require new motorcycle insurance or motorcycle insurance renewal, it’s essential to consider the types of motorcycle insurance, the cover required, and your specific needs. A motorcycle vehicle owner can choose from broadly three types of motorcycle insurance cover:
A comprehensive policy is an extensive net policy that gives the policyholder insurance on several liabilities that could arise out of an accident including death or bodily injury to any third party, personal accident claims, destruction of property or vehicles in an accident or as a result of a theft of fire.
Third-party insurance is the most basic form of motorcycle insurance that covers any liability to a third party arising out of an accident. This will only cover any liability to a third-party and will not cover any losses or injury you may incur.
A third-party fire and theft insurance policy is a third party insurance policy with the added cover of theft of own vehicle or any damages, loss or destruction caused by fire. Any damage to your vehicle is not covered under this policy.
You can now buy or renew motorcycle insurance online in a few simple steps:
Step 1: Personal Information – You enter your personal information such as your PO or postal code, your vehicle registration number, your NRIC number, etc.
Step 2: Compare Quotes – Based on the information you enter above, you can get quotes of motorcycle insurance from various insurance providers in a matter of seconds. You can then compare these quotes and choose to modify your requirements based on your need.
Step 3: Pay Online – After selecting your motorcycle insurance, you can make a payment for the same online before availing your motorcycle insurance policy.