59% of Malaysian Motorists Still Not Covered For Flood Damage, According To Zurich Malaysia.

Zurich Malaysia reported that 59 percent of Malaysian motorists still do not have adequate protection against flood Damage as one of the findings under its Impact of Pandemic on Protection survey. 

This should be an utmost concern for all the motorists as Malaysia regularly experiences monsoon seasons, such as the current Northeast Monsoon season from November until March next year. 

Landslides and falling trees are the other potential perils that Malaysian motorists are not prepared for. Only one in three active motorists (34 percent) reported having coverage for storms, including falling trees, and only 29 percent are covered for landslides.

Also, the survey found that 38 percent out of 990 respondents who own a motor vehicle still engage agents to renew their insurance and takaful despite the availability of online portals. 43 percent prefer online portals, while another 16 percent of Malaysians opt for walk-in services.

In terms of motor insurance and takaful coverage, most Malaysians prefer plans that cover all drivers (36 percent) instead of just named drivers in the policy (34percent).

47 percent of vehicle owner respondents report they are unsure of their coverage content and only sign up for protection solely to have valid motor insurance or takaful as mandated to renew their road tax.

Conducted in late September 2021, the survey engaged 1,201 Malaysians from all states, of which 990 are vehicle owners.