2013 Motor Insurance Premium Rates | What has increased?

The 2013 Motor Insurance Premium Rates are out and there are increases but I do not foresee the premium increase is going to be damaging to the wallet, rather a soft landing for the rakyat and yet enables both insurers and takaful operators to cash-in some additional premiums to better cope with the deteriorating trend of our country’s motor insurance losses.

I have compiled numerous tables to compare what additional premium you are likely to pay when you eventually make the purchase or renew your policy. Do note the increase in premium denoted below has not taken into account loading imposed by the insurer / takaful operator but you are still entitle to the No Claim Discount deduction.

The increase is applicable for both purchases and renewals made on and after 15 February 2013, so do check out the new premium first before making the purchase or renewal.

For convenience, you can get to the following motor insurance portal and secure a quote accordingly:

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If you are a registered agent and have yet to get a copy of this new 2013  Motor Insurance Tariff table of premium rates you may sign in with us to secure a copy immediately (do check you spam box in your email if you did not receive any reply from us, it should be there). Thank you….

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Private Vehicle
2013 vs 2012 (RM Increase) 2012 vs before 2012 (RM Increase)
Cubic Capacity Not Exceeding West Malaysia East Malaysia West Malaysia East Malaysia
1400                      12.15                       6.00                       12.15                         6.00
1650                      13.50                       6.90                       13.50                         6.90
2200                      15.30                       7.80                       15.30                         7.80
3050                      17.10                       8.40                       17.10                         8.40
4100                      18.45                       9.30                       18.45                         9.30
4250                      19.80                       9.90                       19.80                         9.90
4400                      21.60                     10.80                       21.60                        10.80
Over 4400                      22.95                     11.40                       22.95                        11.40

 

Motor Cycles
2013 vs 2012 (RM Increase) 2012 vs before 2012 (RM Increase)
Cubic Capacity Not Exceeding West Malaysia East Malaysia West Malaysia East Malaysia
50                         1.20                       0.80                          1.20                         0.80
100                         1.40                       0.80                          1.40                         0.80
125                         1.60                       0.80                          1.60                         0.80
225                         2.05                       0.90                          2.00                         0.85
350                         2.55                       1.30                          2.50                         1.25
500                         2.95                       1.50                          2.90                         1.45
Over 500                         3.25                       1.60                          3.20                         1.60
Autocycle < 50cc                         0.80                       0.35                          0.80                         0.35
Autocycle > 50cc                         0.80                       0.35                          0.80                         0.35

 

Public Taxis
2013 vs 2012 (RM Increase) 2012 vs before 2012 (RM Increase)
Cubic Capacity Not Exceeding West Malaysia East Malaysia West Malaysia East Malaysia
1400                      23.40                    11.70                       23.40                      11.70
1650                      27.00                    13.50                       27.00                      13.50
2200                      30.60                    15.30                       30.60                      15.30
3050                      34.20                    17.10                       34.20                      17.10
4100                      37.80                    18.90                       37.80                      18.90
4250                      39.60                    19.80                       39.60                      19.80
4400                      43.20                    21.60                       43.20                      21.60
Over 4400                      46.80                    23.40                       46.80                      23.40

 

Hire Cars – Chauffeur Driven
2013 vs 2012 (RM Increase) 2012 vs before 2012 (RM Increase)
Cubic Capacity Not Exceeding West Malaysia East Malaysia West Malaysia East Malaysia
1400                      35.50                    17.75                       35.45                      17.75
1650                      40.95                    20.50                       40.95                      20.45
2200                      46.40                    23.20                       46.40                      23.20
3050                      51.90                    25.95                       51.85                      25.90
4100                      57.35                    28.70                       57.30                      28.65
4250                      60.05                    30.05                       60.05                      30.00
4400                      65.50                    32.75                       65.50                      32.75
Over 4400                      71.00                    35.50                       70.95                      35.50

 

Goods Vehicle – C Permit
2013 vs 2012 (RM Increase) 2012 vs before 2012 (RM Increase)
Carrying Capacity Not Exceeding West Malaysia East Malaysia West Malaysia East Malaysia
500 KG                      18.60                       9.30                       18.60                         9.30
1000 KG                      22.30                    11.15                       22.30                      11.15
1500 KG                      24.20                    12.10                       24.15                      12.10
2000 KG                      26.05                    13.00                       26.00                      13.00
3000 KG                      27.90                    13.95                       27.90                      13.95
4000 KG                      29.75                    14.90                       29.75                      14.85
5000 KG                      33.50                    16.75                       33.45                      16.70
6000 KG                      33.50                    16.75                       33.45                      16.70
7000 KG                      35.35                    17.70                       35.30                      17.65
8000 KG                      35.35                    17.70                       35.30                      17.65
9000 KG                      37.20                    18.60                       37.20                      18.60
10000 KG                      37.20                    18.60                       37.20                      18.60
For each additional 1,000kg over 10,000kg                         1.85                       0.90                          1.85                         0.95

 

Goods Vehicle – A Permit
2013 vs 2012 (RM Increase) 2012 vs before 2012 (RM Increase)
Carrying Capacity Not Exceeding West Malaysia East Malaysia West Malaysia East Malaysia
500 KG                      28.10                    14.05                       28.05                      14.00
1000 KG                      37.45                    18.70                       37.40                      18.70
1500 KG                      39.80                    19.90                       39.75                      19.90
2000 KG                      42.10                    21.05                       42.10                      21.05
3000 KG                      46.80                    23.40                       46.80                      23.40
4000 KG                      49.15                    24.60                       49.10                      24.55
5000 KG                      53.80                    26.90                       53.80                      26.90
6000 KG                      56.15                    28.10                       56.15                      28.05
7000 KG                      58.50                    29.25                       58.50                      29.25
8000 KG                      60.85                    30.40                       60.80                      30.40
9000 KG                      63.20                    31.60                       63.15                      31.60
10000 KG                      65.50                    32.75                       65.50                      32.75
For each additional 1,000kg over 10,000kg                         2.35                       1.15                          2.35                         1.20

 

Buses – Express
2013 vs 2012 (RM Increase) 2012 vs before 2012 (RM Increase)
Seating/Standing Passenger Carrying Capacity West Malaysia East Malaysia West Malaysia East Malaysia
8                      55.45                    27.70                       55.40                      27.70
9                      58.90                    29.45                       58.90                      29.45
10                      62.35                    31.20                       62.35                      31.15
11                      65.85                    32.90                       65.80                      32.90
12                      69.30                    34.65                       69.30                      34.65
13                      72.75                    36.40                       72.75                      36.35
14                      76.25                    38.10                       76.20                      38.10
15                      79.70                    39.85                       79.65                      39.80
16                      83.15                    41.60                       83.15                      41.55
17                      86.65                    43.30                       86.60                      43.30
18                      90.10                    45.05                       90.05                      45.00
19                      93.55                    46.80                       93.55                      46.75
20                      97.00                    48.50                       97.00                      48.50
21                    100.50                    50.25                     100.45                      50.20
22                    103.95                    52.00                     103.95                      51.95
23                    107.40                    53.70                     107.30                      53.70
24                    110.90                    55.45                     110.85                      55.40
25                    114.35                    57.15                     114.30                      57.15
26                    117.80                    58.90                     117.80                      58.90
27                    121.30                    60.65                     121.25                      60.60
28                    124.75                    62.35                     124.70                      62.35
29                    128.20                    64.10                     128.20                      64.10
30                    131.65                    65.85                     131.65                      65.80
31                    135.15                    67.55                     135.10                      67.55
32                    138.60                    69.30                     138.60                      69.30
33                    142.05                    71.05                     142.05                      71.00
34                    145.55                    72.75                     145.50                      72.75
35                    149.00                    74.50                     148.95                      74.45
36                    152.45                    76.25                     152.45                      76.20
37                    155.95                    77.95                     155.90                      77.95
38                    159.40                    79.70                     159.35                      79.65
39                    162.85                    81.45                     162.85                      81.40
40                    166.30                    83.15                     166.30                      83.15
For Each Seating/Standing Passenger in Excess of 40                       3.45                     1.70  Refer to your agent or service provider

All other motor classes remained “Status quo” or no change:

(1) Hire Cars – Hirer Driving

(2) Motor Trade

(3) Public Bus

(4) Private Bus

(5) School Bus

(6) Special Type

(7) Motor Cycle Trade

Do write in to us at  EMAIL us: [email protected] or malaysianinsurance@gmail.com if you have any issues to raise.

 

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5 comments for “2013 Motor Insurance Premium Rates | What has increased?

  1. Anonymous
    February 20, 2013 at 08:49

    Maybe insurer also need to reduce marginally the loading given the increase in the tariff, Which is a win win situation. rather than riding on the adjusted tariff to get extra ringgit.

    • February 20, 2013 at 19:16

      Well, after 30 odd years of no premium increase it is unavoidable that insurers want to make back whatever they had lost over those years!

  2. Jimmy Star
    February 13, 2013 at 11:16

    Very unfortunate that Bank Negara had agreed to another increase. The increase allowed in 2012 has generated profits and therefore a turnaround for the motor insurance segment thus this increase is really uncalled for.

    • Anonymous
      February 13, 2013 at 12:17

      Must say, please do give those insurance companies a break, just very small increase as for past 30 years there was no review of premium.

    • February 14, 2013 at 18:44

      Maybe you argument is true given the much improved motor results nowadays.

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