PolicyStreet rolls out new perks with big savings on road tax and insurance

Optional add-ons also available

PolicyStreet rolls out new perks with big savings on road tax and insurance

Technology

By Roxanne Libatique

Malaysian insurtech company PolicyStreet has launched Drive+ Membership, a loyalty programme designed to offer cost-saving benefits for vehicle owners.

The initiative provides discounts on road tax, waived processing fees, interest-free payment options, and additional perks related to car insurance renewals.

Drive+ Membership benefits

According to PolicyStreet co-founder and group chief executive officer Yen Ming Lee, the programme is intended to offer financial relief to drivers.

This comes as Malaysia’s motor insurance industry is expected to reach MYR13.4 billion in direct written premiums by 2027, reflecting an annual growth rate of 9.6%, according to GlobalData. The sector’s expansion is anticipated to be driven by rising vehicle ownership, regulatory shifts, and increased digital adoption in the insurance space.

“While we continue to uphold our ‘Cheapest Road Tax in Town’ promise, the Drive+ Membership aims to empower drivers with practical benefits that ease the financial stress that comes with owning and maintaining a car,” Lee said.

Drive+ Membership includes the following benefits: 

  • Road tax rebates – members can receive up to 80% off their road tax.
  • Interest-free instalments – the company’s Easy Payment Plan allows car owners to spread out their insurance renewal costs.
  • Waived renewal fees – a RM15 processing fee for digital and physical road tax renewal is covered.
  • Priority customer support – members get access to faster assistance for insurance renewals and related queries.
  • Loyalty rewards – a RM20 discount is provided on the next car insurance renewal.
  • Claims submission assistance – members receive step-by-step guidance for filing insurance claims.

The programme is being introduced at a promotional price of RM39.90 before transitioning to its standard rate of RM99.90.

Drive+ Membership replaces Betul-Betul Cheapest Road Tax

PolicyStreet said Drive+ Membership will replace its existing “Betul-Betul Cheapest Road Tax” offer beginning Feb. 12 at 8pm.

The current promotion, which includes free road tax for selected Proton and Perodua models and up to 70% discounts for other vehicles, remains available until that date.

Lee noted that PolicyStreet is working to expand its partner network to offer additional benefits beyond insurance renewals.

“We are actively working to expand our network of partners to provide more meaningful savings – not just during car insurance and road tax renewals, but throughout their everyday driving and car ownership journey. This reflects our unwavering commitment to enhancing Malaysians’ financial resilience and simplifying their experience with insurance renewals,” he said.

Exclusive benefits

In addition to launching Drive+ Membership, PolicyStreet has introduced optional add-ons, available at RM16.90 each, to cover specific vehicle-related costs:

  • Interior cleaning coverage – up to RM100 reimbursement for cleaning services related to incidents such as vomit, urine, or faeces.
  • Pest removal protection – up to RM300 for fumigation and pest control treatments.
  • Exterior maintenance coverage – up to RM200 for expenses related to cleaning, repainting, or chemical treatment for bird droppings or tree sap damage.

The new membership and additional protection options will be available through PolicyStreet’s car insurance renewal platform starting Feb. 12 at 8pm.

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