I read with delight that owners of 'older' private cars will pay market rate for car insurance. We previously had to pay 200% to 300% extra because older cars are considered high risk.
In addition, we no longer have to purchase supplementary insurance besides auto insurance, from the same insurance company. Personally, I prefer to purchase all my insurance from different companies. For example, I may purchase auto insurance from Etiqa and life insurance from another company. I don't know if it is cheaper this way or more expensive, I just feel safer without putting all my eggs in one basket!
Well, the news report didn't mention when this new policy on auto insurance will take effect but I hope it will be real soon as my road tax and insurance expire next month!
In addition, we no longer have to purchase supplementary insurance besides auto insurance, from the same insurance company. Personally, I prefer to purchase all my insurance from different companies. For example, I may purchase auto insurance from Etiqa and life insurance from another company. I don't know if it is cheaper this way or more expensive, I just feel safer without putting all my eggs in one basket!
Well, the news report didn't mention when this new policy on auto insurance will take effect but I hope it will be real soon as my road tax and insurance expire next month!
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