Why Every Car Owner in Malaysia Would Benefit from Personal Accident Insurance

In Malaysia, motor insurance is mandatory for all drivers, providing essential coverage for vehicle damage and third-party liability. However, while motor insurance protects your vehicle, it doesn’t fully safeguard yourself and your loved ones in the event of an accident.

That is where Personal Accident Insurance becomes crucial. Personal Accident Insurance can offer comprehensive protection by covering medical expenses, compensating for loss of income, and alleviating other financial burdens that might arise from accidents.
 

Why is Motor Insurance Alone Not Enough?

Malaysia has one of the highest road crash rates in the Southeast Asian region¹. Statistics² reveal that a person dies in a Malaysian road accident every 1 hour and 56 minutes, with an accident occurring approximately every 50 seconds. Given these alarming figures, relying solely on motor insurance can leave you vulnerable. Here’s why: 

1. No Coverage for Personal Injuries
   Standard motor insurance primarily covers vehicle damage and third-party liability, not personal injuries. Hospital bills can skyrocket, leaving you with significant financial burden.
   
   
2. No Income Protection
   If an accident leaves you unable to work, motor insurance will not compensate for lost wages. Without income support, managing daily expenses such as rent, bills and loans can become overwhelming. 
   
   
3. No Safety Net for Your Family
   In the event of a serious accident resulting in death or permanent disability, motor insurance offers no financial support for your dependents, potentially resulting in severe financial strain on your family.
    

How Personal Accident Insurance Fills the Gap?

Personal Accident Insurance can offer comprehensive coverage in the event of an accident. Typical benefits include: 

1. Lump Sum Payout for Accidental Death or Permanent Disability
   This payout helps your family settle outstanding debts like car loans or living expenses in the event of accidental death of permanent disability. 
   
   
2. Medical & Hospitalisation Coverage
   It covers emergency treatments, surgeries, and even post-recovery rehabilitation costs.
   
   
3. Income Replacement for Temporary Disabilities
   This benefit provides weekly cash benefits if you are temporarily unable to work due to an accident, helping to cover daily expenses.
   
   
4. 24/7 Worldwide Protection
   Offers coverage for accidents beyond driving, including slips and falls, and remains valid while traveling overseas.

Chubb’s Essential Plus Personal Accident Insurance (EPPA) starts at just RM159 per year, which is less than RM0.50 per day! Besides offering the benefits mentioned above, Chubb’s EPPA also provides a discount of up to 50% for family cover, and a renewal bonus of up to 100%. Best of all, this policy includes high coverage of up to RM1.5 million for Accidental Death and Permanent Disablement, and it is renewable up to the age of 100!*

Accidents are unpredictable, but financial protection shouldn’t be. Don’t leave your future to chance and get covered with our Personal Accident Insurance today. Contact your agent to find out more.

*Terms and conditions apply. Benefits may vary depending on the selected plan.

Source:

¹Business Times: Unsafe road behaviour still primary cause of road crashes: expert

²The Straits Times: 1 person dies every 2 hours in a road accident in Malaysia, official statistics show