What is e-hailing insurance?
E-hailing insurance is another requirement from the Ministry of Transport. This is separate from your private motor insurance, and provides coverage for e-hailing jobs.
This covers loss or damage to your vehicle, liability to passengers and third-party, as well as personal accident coverage while you are operating as an e-hailing driver-partner.
I already have car insurance, why should I get e-hailing insurance?
You should already know that it is compulsory to insure your private vehicle before you can legally take it for a spin. A typical motor insurance plan does not cover e-hailing services because when you use your private car as a passenger vehicle, your car will be classified as a public service vehicle (PSV).
An e-hailing coverage can be added on easily to a comprehensive car insurance plan. If you are tight on budget, some insurers do provide e-hailing coverage on the lower-end premium plans such as third party, and third party, fire and theft.
Owning both private car insurance policy and e-hailing insurance coverage is a smart move for an e-hailing driver like you as you can minimise legal and financial risks that you may run into. Without an e-hailing insurance coverage, you might need to dig deeper into your pocket to cover for the loss and damages to passengers and third party in case of an accident.
Coverage offered by e-hailing insurance:
The coverage offered in e-hailing insurance varies depending on the insurers. In general, you’ll get these coverages when you signing up for e-hailing insurance:
1. Loss or damage to your own car
The insurer will cover the loss or damage to your own car due to an accident, fire, or if your car is stolen.
2. Third party property damage
The insurer will cover for the loss or damage to another person’s car or property.
3. Third party bodily injuries
The insurer will cover for the injury or death of the third party due to an accident.
4. Accidental injury or death of the authorised e-hailing driver
The insurer will cover for your death or injury due to an accident.
5. Legal Liability to and of Passengers
The insurer provides coverage in case the passenger sues you for driving negligently, resulting in property damage, bodily injury or death.
How is your risk level affect your car insurance premium?
Sometimes you wonder why your car insurance premium is slightly expensive or cheaper than your friend, even when you both are driving Myvi. There are some risk factors that influence car insurance companies to determine how much you are about to pay for your motor insurance premium, such as:
- Age of driver: drivers below 26 years old or above 69 years old are considered as higher risk, thus will be charged a higher premium
- Age of car: if your car’s age is above 10 years, the higher the premiums will be
- Claims made: if you have made frequent claims previously, chances on your premium rates increasing are higher
- Location: the base value of car insurance is different in East Malaysia or West Malaysia
- Driving habit: your risk profile and the premium rate will be higher if you have a reckless driving attitude
- High-risk theft car: cars that are listed as prone to high-risk theft cars will be charged a higher premium
- High-performance car: high-performing cars will have a higher premium
- Re-conditioned cars: the car insurance company will appraise the condition of the car before deciding the interest.
How to get the e-hailing insurance?
- Contact the insurance agent or provider for your existing car insurance.
After securing your e-hailing insurance, the PSV and EVP licence and the other requirements, please contact us for an interview to get started.