A MID all the hustle and bustle and plans for the year, there is one important life-saving aspect that should not be overlooked or ignored — insurance.
According to Liberty Insurance, there are a few types of insurance that you may want to consider equipping yourselves with this year for holistic coverage.
PERSONAL ACCIDENT
First and foremost, the most basic insurance coverage that one should have is personal accident coverage. Some may not know this but having Personal Accident (PA) insurance can be a literal life saver, especially when your world is turned upside down due to an accident.
Having a PA can certainly help with unexpected expenses occurring after an accident. Having a PA is especially essential if you are the sole breadwinner of the family.
In general, the policy provides you and your family with comprehensive 24/7 worldwide coverage and protection against unexpected circumstances. It can also cover accidental death, permanent disablement, medical expenses, snatch theft and personal liability; potentially 23 benefits in total.
FLOOD COVERAGE
Let's face it, Malaysia is a flood-prone country where flash floods and even unprecedented major floods have been happening time after time. Have we not learned from past experiences yet?
With Malaysia's heavy rainfall annually, it is a no brainer to ensure that your insurance includes flood coverage.
Some might argue that flood coverage is not needed as they do not live in a flood-prone area but judging by the past two years of merciless continuous rainfall, even the most unexpected places can end up flooding, leaving behind damaged homes and vehicles in the blink of an eye.
With that said, flood coverage is a must to protect you and your loved ones from having to fork out an extensive amount of savings for repairs.
INSURE YOUR NEW WHEELS
It is hard not to be tempted by the good deals and own a new vehicle with all those amazing year-end or new year deals out there.
Be it a trade up or the first-ever vehicle owned, it is imperative to get adequate motor insurance coverage.
It doesn't matter if it's a two- or four-wheeled vehicle, an insurance plan is necessary to protect you from unforeseen circumstances and perils.
Take the Private Car Comprehensive Tariff policy, for instance, which protects your vehicle from damages caused by unexpected accidents. It covers every aspect of your vehicle and protects you against liabilities to third parties.
Your vehicle is also covered by loss or damage to your own vehicle due to fire, theft, accidents and third-party bodily injury and death cover with this policy.
A motorcycle comprehensive plan can cover losses caused by own damage, fire or theft and also protects owners against liabilities to third parties.
Add-ons can further cover accidental death, permanent disability, funeral expenses, ambulance fees and protection for riders and those who ride pillion.