In the dynamic landscape of Malaysia’s automotive industry, securing reliable and affordable car insurance is a top priority for many drivers. Finding comprehensive coverage that does not break the bank is a common pursuit, and fortunately, there are options available that offer affordable premiums.
Navigating the market for cheap car insurance involves understanding various factors, from coverage specifics to the insurers’ reputation and customer service. This guide will help you learn the key considerations to help you make an informed decision that aligns with both your budget and coverage needs. Here are the 10 best cheap car insurance options in Malaysia.
What are Different Types of Car Insurance Coverage Available in Malaysia?
When it comes to car insurance, there are several types of coverage available in Malaysia. Understanding these coverage types is crucial for selecting the insurance that aligns with your needs and budget.
| Insurance Type | Coverage |
|---|---|
| Third-Party Cover | The most basic and cost-effective car insurance, third-party coverage, protects against claims from others. It covers damages caused to other parties in accidents, but you are responsible for your own vehicle’s losses and damages. |
| Third Party, Fire and Theft | Similar to third-party coverage, this policy adds protection for your vehicle in case of fire or theft. However, it does not include coverage for damages from road accidents. |
| Comprehensive Cover | Offering a wider range of protection, comprehensive insurance includes coverage for your vehicle and third-party vehicles. It extends the benefits of third-party, fire, and theft coverage, making it ideal for those who cannot bear repair costs. |
What are the Factors to Consider When Choosing a Cheap Car Insurance in Malaysia?
When selecting affordable car insurance in Malaysia, there are several things you may want to consider, such as comparing quotes, exploring add-ons and selecting the appropriate coverage type:
- Compare Quotes
Obtain quotes from different insurance providers to compare premium rates and coverage options. You can directly contact insurers to get a comprehensive understanding of the available options. - Explore Add-ons
Evaluate additional coverage options or add-ons offered by insurers. These could include benefits like roadside assistance, car rental coverage, or special coverage for accessories. Consider whether these add-ons align with your needs and if they provide value for the additional cost. - Select the Appropriate Coverage Type
Understand the various types of car insurance coverage available, such as Third Party, Third Party Fire and Theft, and Comprehensive. Select the coverage that best suits your requirements and protects your vehicle and potential liabilities. Tailoring the coverage to your needs ensures a cost-effective and relevant insurance policy.
Check out more car insurance options to explore your choices:
8 Best Cheap Car Insurances in Malaysia 2025
1. Maybank Car Takaful
Maybank Car Takaful offers an affordable and comprehensive car insurance plan that can be conveniently purchased online through Maybank2u, the MAE App, M2U App, and Maybank branches. One unique selling point of Maybank Car Takaful is that it is the first in Malaysia to provide this service. Customers can enjoy the ease and convenience of online road tax renewal, multiple premium payment options, and on-the-spot policy issuance. Customers can benefit from various rewards and savings by signing up or renewing their car insurance or takaful plan with Maybank. These include a 10% discount on premiums and up to a 30% cash rebate through the Drive Less Save More feature.
Check Info On Website2. Allianz Motor Comprehensive
Allianz Motor Comprehensive offers affordable and comprehensive car insurance coverage that protects against accidents, theft, and damage to your vehicle. It provides hassle-free claims processing, ensuring a smooth experience for policyholders in case of accidents or damages. It offers additional benefits through the Rahmah Insurance Initiatives, including Death and Permanent Disablement Benefit (up to RM5,000), Hospital Income (up to RM3,000), and compassionate flood coverage (one-time payout up to RM3,000). These extra benefits provide enhanced financial support and protection for policyholders in unfortunate events.
Refer Info On Website3. Tune Protect Car Insurance
Tune Protect Car Insurance provides an inclusive coverage package featuring the Flood Cover (Special Perils) option that offers additional protection for your vehicle in case of events like floods, landslides, typhoons, storms, and earthquakes, all at a highly affordable rate of 0.2% of the sum insured. With the flexibility to choose from a nationwide network of over 300 authorised car workshops in Malaysia, the insurance ensures a seamless repair and claims process. You can also get a free 6-month guarantee on workmanship and replacement parts from authorised panel workshops, providing assurance and quality assurance.
Website Info4. RHB Private Car Insurance
RHB Private Car Insurance provides a substantial RM3 million liability limit for third-party liabilities, ensuring robust protection. With the No-Claim Discount (NCD) feature, policyholders can enjoy reduced premiums based on their claims history. The insurance offers complimentary towing services, covering expenses up to RM300 per breakdown. It enables savings of up to 40% on car insurance premiums, providing a cost-effective solution for comprehensive coverage. This insurance package combines financial security against third-party liabilities, attractive discounts, and added benefits like free towing, making it a comprehensive and economical choice for car owners.
View Website5. Zurich Motor Takaful
Zurich Motor Takaful is your trusted companion for the immeasurable joy of family trips in your car or two-wheeler. While the road may pose risks of accidents, Zurich Malaysia offers a range of Shariah-compliant Motor Takaful plans designed to provide financial coverage not only for your vehicle but also for you and your loved ones. These plans have flexible and comprehensive benefits, including super value add-ons, ensuring holistic protection. Whether coverage for your four-wheeler or motorcycle or the assurance of roadside assistance, Zurich Motor Takaful caters to your specific needs, offering peace of mind during your journeys.
View Website6. MotorTakaful by Etiqa
MotorTakaful by Etiqa recognises the merits of safe driving by offering enticing rewards, as drivers can enjoy cashback benefits when they maintain a claim-free record. The coverage extends beyond typical insurance perks, including services such as tire changes, battery assistance, and more. With 24-hour roadside assistance, policyholders have peace of mind knowing help is just a call away. Opting for the Driver and Passengers’ Personal Accident (DPPA) subscription provides unlimited mileage, ensuring comprehensive protection. Etiqa’s award-winning claims team, honoured as the Best Takaful Operator in 2016 for their swift motor claims approval, underscores their commitment to efficiency and customer satisfaction.
View Website7. Generali Malaysia Car Insurance
Generali Malaysia Car Insurance provides financial protection against unforeseen accidents, theft, or damage to your vehicle. The coverage ensures peace of mind, and in the unfortunate event of a vehicle accident or breakdown, enjoy complimentary towing services for up to 30km. With Generali’s preferred workshops, claims below RM10,000 can be processed within three working days, subject to terms. You can add more protection by considering options such as Special Perils, Waiver of Betterment, and Windscreen Protection. Furthermore, benefit from a 12-month warranty on repairs conducted by Generali’s Preferred Workshops and a 6-month warranty at other Panel Repairers, enhancing the overall value and reliability of the insurance coverage.
View Website8. Lonpac Car Insurance
Lonpac Car Insurance ensures a seamless and cost-effective experience for policyholders with the added convenience of an easy 6-month zero-interest instalment plan for Maybank and Public Bank credit cardholders. It goes the extra mile by offering complimentary road tax delivery within Peninsular Malaysia when renewing through MYEG. The insurance package is designed for comprehensive support, providing a generous free towing service of up to RM400 per event for 24/7 emergency roadside and breakdown assistance (subject to terms and conditions). Lonpac takes care of all drivers, waiving compulsory excess for everyone except those with provisional (P) or learner (L) licenses.
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Disclosure: This list was compiled by the team at My Weekend Plan after extensive research and shared opinions to suggest helpful recommendations for the public. The sequence of brands is in no particular order so if you have any other great suggestions too, please email us support@myweekendplan.asia. For more information, kindly refer to our copyright, privacy & disclosure policy.
