People walking past partially submerged cars in Shah Alam, Selangor last December. Insurance Services Malaysia (ISM) statistics show that most car owners tend to overlook flood protection. (Photo by Arif KARTONO / AFP)
CLIMATE change has been a hot topic for decades and it has surfaced again recently with the pretty weird weather we have been experiencing.
From a rare waterspout off the Penang coast in April 2019 to rising annual temperatures, it is ultimately flooding that is the nation’s most damaging natural hazard, according to the World Bank.
Just before last year came to a close, torrential rain swept through parts of the peninsula starting on Dec 16, causing flash flooding in Selangor, Negeri Sembilan, Kelantan, Pahang, Melaka and Terengganu.
Floods cause huge losses
In the aftermath, victims were met with the sight of their cars wrecked by flood waters, rendering them useless.
Homes were plastered with accumulated mud with water-damaged walls, floors and silt-clogged electrical appliances.
The Insurance Services Malaysia (ISM) – which compiles statistical data for the insurance industry – showed that only 4% of motor (comprehensive) policies and 30% of fire (material damage) policies have flood covers for 2021 (Year-to Q3 2021), indicating most car owners tend to overlook flood coverage.
Once a car is damaged by floods, repairs usually cost thousands of ringgit, especially if the vehicle is fitted with electronic components.
In fact, some cars cannot be returned to its pre-damaged condition, leaving owners with a lower value and big losses during the sell off.
Flood cover add-on to car insurance
Most car insurance have floods as an add-on to the existing coverage, which is called a Special Perils rider. The rider cost is a mere 0.2%-0.5% of the car sum insured.
Landed property owners should also insure their homes for flood coverage, as well as for fires, storms and landslides.
With Tune Protect, you’ll have access to affordable, comprehensive insurance cover offers.
The Tune Protect Motor Easy car insurance package provides comprehensive coverage against the usual accidents, theft, fire and third party claims.
With as low as 0.2% of your car sum insured as an add-on, you get Special Perils protection against floods, storms, landslides, earthquakes and other natural disasters as well.
Tune Protect Motor Easy offers a 10% discount for all sign-ups and transactions done online, and a 20% premium refund via a Pay-As-You-Drive (PAYD) add-on.
Home insurance cheaper by up to 40% online
Tune Protect Home Easy for properties covers both the building and its contents – such as furniture, appliances and clothes – against floods, fires, landslides, lightning and more.
Tune is confident that its premiums are up to 40% cheaper compared to other online home insurance, plus a 15% online discount.
As a homeowner, you can also cover against loss of rental income and damage to home contents by a tenant, besides coverage on smart home devices.
Additionally, you can add on mortgage protection that will cover the home loan for up to six months if the house is deemed temporarily uninhabitable, or if the insured person passes away or suffers total permanent disablement.
Flood-Proof Your Life
Tune Protect is running a Flood-Proof Your Life campaign, whereby you’ll automatically receive RM50 eWallet credits for every online purchase of Motor Easy (with Special Perils add-on) or Home Easy insurance from now till March 31, 2022.
You will receive additional RM50 eWallet credits if you purchase Motor Easy with a minimum of three add-ons (including Special Perils) – for example, if you purchase Motor Easy with three add-ons (Special Perils, Windscreen and PAYD), you get eWallet credits worth RM100.
For full campaign details, visit www.tuneprotect.com.
