Minimize Your Premium


The periodic payment made to an insurance policy. Premium payable is 
calculated by multiply the sum insured with rate,added of service tax and 
stamp duty. Below is the computation sample of Fire Insurance

Calculation Sample:
100,000 (sum insured) X 00.52 (rate) + 10.00 (stamp duty)/add 6% tax if 

company. So, the premium payable is shall be able to be minimize by 
reducing the sum insured or rate.As we all know the rate are fixed but sum 
insured can be reduce or increase by agent or insurer.Let's see it how it can
be done.....

for example :
BMW 320i, year 2007 E90 sedan Auto 2.0i

Your insurer quote (assuming NCD 30%)
RM170,000.00 sum insured
RM 4,000.00 windscreen
your premium payable shall be RM3,917.15

However in case of total loss due to accident (God forbid), with the repair claim 

adjusted above current market value. Insurer will pay a maximum of RM145,000.00
Why..because the current market value is just below that amount. Most insurer will 
deduct certain percentage from market value as settlement. But its not the case 
with Etiqa you may expect 100% settlement based on current market value 
( we will publish in later post sample claim done)

Back to premium, the optimum premium shall be RM3,328.15. based on current 
market value RM150,000.00 and windscreen RM2,500.00 (assuming NCD 30%)

You may save RM589.00 from the premium...and you may get us to assist you on 
claims or other related matter such as with JPJ, Puspakom or else for FREE......
so let's get Personalised with us course in insurance matter only


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