All you
want to know about...
MOTOR
INSURANCE
|
MOTOR
INSURANCE PREMIUM CALCULATION |
PRIVATE CAR TARIFF 2015
(All rates are
quoted in RM Ringgit Malaysia)
PRIVATE CAR SCHEDULE OF
PREMIUMS |
|
WEST MALAYSIA |
Cubic Capacity
(cc) Not Exceeding |
*Comprehensive
(Rate for first RM1,000 sum insured) |
Third Party |
1400 |
273.80 |
120.60 |
1650 |
305.50 |
135.00 |
2200 |
339.10 |
151.20 |
3050 |
372.60 |
167.40 |
4100 |
404.30 |
181.80 |
4250 |
436.00 |
196.20 |
4400 |
469.60 |
212.40 |
over 4400 |
501.30 |
226.80 |
*For West Malaysia, Comprehensive rate
for first RM1,000 sum insured (from table above) + RM26 for each
RM1,000 or part thereof on value exceeding the first RM1,000
EXAMPLE (WEST MALAYSIA) |
Sum Insured:
RM50,000 Make & Model: Proton Wira
1.5 Age of vehicle: 4 years
Cubic Capacity:
1468 NCD: 25% |
(Premium Computation) |
Comprehensive Cover (Individual) |
Third Party, Fire & Theft Cover (Individual) |
(a) 1st 1,000 |
RM 305.50 |
Sum Insured: RM50,000 |
|
(b) + 26 x 49,(000) |
RM 1,274.00 |
|
|
(c) Basic Premium = a + b |
RM 1,579.50 |
[a] Basic Premium
(75% of Comprehensive Premium) |
RM 1,184.63 |
(d) less NCD 25% |
(RM 394.88) |
[b] less NCD 25% =
a x 25% |
(RM 296.16) |
(e) Gross Premium = c - d |
RM 1,184.62 |
[c] Gross Premium = a
- b |
RM 888.47 |
(Additional Benefits) -
Optional |
|
|
(f) Windscreen Breakage
(15% of Sum insured RM500) |
RM 75.00 |
|
|
(g) Gross Premium = e + f |
RM1,259.62 |
|
|
(h) 6% GST
(with effect from 01/04/2015) |
RM 75.58 |
[d] 6% GST
(with effect from 01/04/2015) |
RM 53.31 |
(i) Stamp Duty |
RM 10.00 |
[e] Stamp Duty |
RM 10.00 |
Total Amount Payable = g
+ h + i |
RM 1,345.20 |
Total Amount Payable =
c + d + e |
RM 951.78 |
Note: The
above rates are for private owned vehicles only and may differ from the actual
premium. Coverage is subject to acceptance by the insurance company. A 6%
GST (calculated based on the Total Premium) is applicable with effect from
01/04/2015. With effect from 01/01/2001, the
Stamp Duty payable is RM10. The minimum premium payable is RM50 (excluding
stamp duty).
| Return
to contents |
This is USJatyourservice,
Service At Its Best! provided by kooagency
|