Buying New Car?? Can We Choose The Insurer

New Car & New Girl

Buying new car is fun..getting the key is exhilarating. Can we change the amount payable for its
insurance policy as stated in brochure. Yes we can..as been told in earlier post with transfered 
NCD. Can we choose to change the insurer, say to change it to Islamic one ( Takaful Insurer). 
We all know most car dealer is insured with LONPAC (Public bank group), Tokio Marine, 
Chartis or Berjaya Sompo(Berjaya Group)


Try to ask the car dealer..the answer is we must take up the insurance from them  for the 1st year as per demanded by the Finance Institution which approved our loan. They also will said the loan are included the insurance coverage. If we were them, we also say the same thing..why, because the additional commission for salesman are derived from insurance commission as well.


We should realize that Banker will release the full payment to the car dealer right after we receive the car key. So the insurance are purchased with our down payment. No such thing the insurance policy is included in the loan. 


So we as the customer have every right to choose the insurer so that every time we saw the Malaysian FORBES rich list...we all know in our heart that we did not contribute to their wealth from the insurance purchase....but maybe its just from a pack of cigarette or sweet from 7-Eleven.


Malaysian Forbes Richlist
5. Teh Hong Piow
$3.5 billion
77. Married, 4 children
Public Bank,Lonpac
14. Vincent Tan
$380 million
55. Married
Has run Berjaya, Berjaya Sompo, 7-Eleven