Malaysian automaker launches insurance scheme for its cars

Malaysian automaker launches insurance scheme for its cars | Insurance Business

Malaysian automaker launches insurance scheme for its cars
Perodua, the largest domestic automaker in Malaysia, has launched the Perodua Total Protect programme, an insurance scheme for its products.

In a move that could eat into the traditional auto insurance industry’s turf, the company has joined the ranks of car manufacturers that have begun insuring their own products, most notable of which is Tesla, maker of autonomous and electric vehicles.

Under Perodua’s insurance scheme, policyholders are eligible for full coverage for the vehicle’s first five years, instead of at market value at time of loss. The product also waives excess, loading, and betterment charges for up to 10 years.

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Free 24/7 towing and emergency medical response services are included, subject to terms and conditions. Transport assistance reimbursements of up to 30% of car rental charges will also be provided, helping owners find alternative transportation options while their vehicle is under repair.

The policy covers flood damage, vehicle break-ins, theft, and non-insurance repair claims, with coverage also valid in Singapore and parts of Thailand.

“With this programme, our customers are also guaranteed genuine parts when repairing their Perodua vehicles at our authorised after-sales facilities,” Datuk Zahari Husin, Perodua’s managing director of sales, told Paul Tan’s Automotive News.