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If Your Vehicle Is Stolen / Loss !! ?

IS YOUR VEHICLE STOLEN?
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It's a sad fact that vehicle thefts have become so common nowadays. In addition, the process of making a theft claim can be a painful experience, with long processing time and the need to continue the loan repayments although the vehicle has been stolen. Nevertheless you can lessen the hassle of making a theft claim by understanding motor policies and their coverage in terms of theft protection offered as well as knowing some guidelines on how to make a theft claim.

"Theft claim will be settled based on the market value of the vehicle at the time of loss, or the Sum Insured, whichever is lower"

Types of Motor Policies and Coverage

There are basically three types of motor policies namely Third Party Cover, Third Party Fire & Theft Cover and Comprehensive Cover.

Third Party Cover - indemnifies the Insured against legal liability arising from both bodily injury and property damage to third party. This plan excludes protection for accidental damage, theft or fire suffered by the insured's vehicle.

Third Party Fire & Theft Cover - provides cover as in "Third Party Cover", and also indemnifies the Insured in the event that the Insured's vehicle is stolen or damaged by fire.

Comprehensive Cover - provides covers as in "Third Party Fire & Theft Cover", plus physical damage to the Insured's vehicle following accidental collision or over-turning.

The theft protection offered in motor policies cover different circumstances in which vehicle theft can occur. In general, loss of vehicles due to accidental theft can be described as an incident in which a vehicle is unlawfully taken away from the insured party. If someone authorized by the vehicle owner uses the vehicle for a certain time and disappears with it, then it is not a straightforward theft claim. Such instances are excluded in a standard motor policy and hence the theft claim will most likely be rejected. Theft claims can also be rejected if the insurer or police suspect foul play or negligence on the part of the driver.

Note that theft claim will be settled based on the market value of the vehicle at the time of loss, or the Sum Insured, whichever is lower. As such, if the vehicle is under-insured, the settlement will be based on the Sum Insured, likewise if the vehicle is over-insured, the settlement will then depend on the prevailing Market Value.

Insurers do not compensate for loss of personal belongings such as cash or valuable items left in the vehicle. As such, vehicle owners must ensure that they do not leave their personal belongings in the vehicle.

Making a theft claim

The process of making a theft claim is almost similar to making an ordinary accident claim but making a theft claim usually requires longer processing time. The period given by Bank Negara Malaysia is stipulated to be processed within six months. However, in most cases, claims are settled as soon as the theft investigation is finalised without any irregularities being detected and all documents required for claims processing with payment have been processed.

In the event your vehicle is stolen/loss:

Report to the police within 24 hours as required by Law and obtain a copy of the police report.
Collect the claim form from your insurance company. Complete, sign accordingly and submit the claim form with supporting documents stated below.
- Original police report
- Original certificate of insurance
- Original vehicle registration card
- Copies of Identity card and driving license of the insured
- Copies of Identity card and driving license of the driver
- Copy of Hire purchase agreement (if any)
- Two sets of original vehicle keys
- Two copies of JPJ's Transfer Form K3 (transfer of vehicle ownership form to be completed by registered owner) and Lampiran A1 (letter of indemnity)
- Letter of release from the hire purchase company (if any)
- JPJ's Lampiran B duly signed and certified by a Commissioner for Oaths (for certification of owner's identity card)

Note: Some insurers may require additional or fewer supporting documents


Insurers are required to finalise a theft claim, either approve or reject it within six months from the date of submission or when the police closes the investigation file, whichever is earlier.

After a vehicle theft claim is submitted to the insurer, there are two possible outcomes, the police may recover the vehicle or the insurer may decide to settle the claim based on advice from the police.

If your vehicle is recovered by the police before the six-month time frame is up or prior to the settlement of the claim, you should channel the said recovery information to the insurance company for further advice on appropriate action. You will have options to either:-

Withdraw the claim (if the vehicle is recovered in good condition)
Withdraw the claim and undertake the repair at your own expense (if the vehicle sustained minor damage and you wish to retain your No Claim Discount (NCD) entitlement)
Withdraw the Theft Claim but pursue with Own Damage (OD) Claim (if vehicle recovered sustained extensive damage or has missing parts). If you pursue with OD, your NCD entitlement will be affected.


If the vehicle is not recovered by the police within six months from the date of the submitted theft claim, the insurer can settle the claim or reject it based on valid grounds. Generally, insurers would be able to decide whether the claim should be accepted or rejected by obtaining substantial information from the police investigations and adjuster findings. If the six months have passed and the insurer decides to reject the theft claim, it is required to inform you of it. You can then appeal to the insurer or refer the matter to the Financial Mediation Bureau.

Keep in mind that each insurer will have its own procedures governing the claims process. If you have any uncertainties on making a claim, contact your insurer for more details.

While insurance coverage for vehicle theft protect motorists with comprehensive policies, motorists should always be cautious and ensure that their vehicle is protected with vehicle alarm as well as gear and steering locks. Immobilisers or tracking system can also be installed for extra protection.


From :
Mike Saw ,
Tel: 017-4930232.
Your One Stop Insurance Partner.

http://aiapenang.blogspot.com
http://allianzauto1.blogspot.com
http://nazabrabuspenang.blogspot.com
http://whyaia-tripyourincomein3year.blogspot.com

HANDLING YOUR FIRST JOB !!!

You've spent approximately the last sixteen years sitting in a classroom absorbing bits of knowledge. Every now and then you were tested to see how well you remembered that information. Occasionally, you had to write a research paper; sometimes quite an extensive one. Suddenly you are out of the safe haven of the classroom and thrust into the harsh reality of your first job. Deadlines are "tomorrow, at the latest." There are no formal exams, but you are being tested, everyday. The results come, not in report cards, but in performance reviews.

"Learn what you need to know and don't pretend to know what you don't know"

When you start a new job you're generally not in the company of others who are also new. You're the new kid on the block coming into a situation where relationships have already been formed. You're the only one who can't find the restroom, doesn't know where the supply room and mailroom are located, doesn't yet realize that the custodian wields all the real power, and doesn't know not to talk to the boss until she's had her first cup of coffee.

Your first day
First of all, congratulations on getting your first job! Feeling jittery? Here's what you can expect (and not expect) during the first few days of your first job in the real world.

You will usually be required to attend a formal or informal orientation. This is where you will be introduced to the company, the building and employee policies.
You may be asked to fill out paperwork for health insurance, life insurance and other employee benefits. Ask questions about your options; the human resources department or the person who hired you will have the answers.
You may be asked to take a medical or physical exam. Some companies require you to do it before your first day.
You will fill out tax forms.
You will meet your fellow workers and various departments.
You will be assigned to a work area, station or office.


Your first week
The first week on the job is your time to orient yourself. Find out who the key players are, and socialize with co-workers during lunch or after work. Find out what tools you need to do your job, and ask how you can get them. Ask questions! Introduce yourself to as many people as you can. It might help to identify the best workers- they serve as good role models and offer advice for your own success.

Also pay close attention to the corporate culture by learning how things work within your company. Are relationships formal or friendly? Does everyone arrive early and stay late? Are lunch hours short or non-existent?

Now it's time to dig in and do your job. To make a good impression, keep the following tips in mind.
Always arrive on time, if not earlier. Stick to your lunch hour.
Dress appropriately. Take your cue from your coworkers.
Always listen and observe before jumping into anything.
Be a team player. Pitch in to help out fellow workers whenever possible. Don't adopt a "that's not my job" attitude.
Follow through on assignments and take pride in your accomplishments.
Be willing to take on challenging assignments.
Be responsible, on time and dependable. Remember deadlines.
Mind your manners.
Do not take time off until you have earned the right to do so.
Stay away from office gossip. Avoid contributing to it and being a target of one.
Learn what you need to know and don't pretend to know what you don't know.
Be wary of the office troublemaker. You'll soon know who they are.


That first week of a new job can be physically and emotionally exhausting. After you've been working awhile, you'll find you are being judged primarily by your job performance. You may think it's a money thing for your employer and that is, of course, true; but it isn't the only reason. By keeping up the good work, you'll find it working in your favour- this could mean advancing within the company or getting a good reference when you seek your next job. Remember, you are an important spoke in the wheel that makes the organisation run.

From ;
Mike Saw;
Tel: 017-4930232.
Your One Stop Insurance Partner,

http://aiapenang.blogspot.com
http://allianzauto1.blogspot.com

Useful Travel Checklist

Before embarking on a journey, it is our duty to ensure that we bring along all the essential documents besides other necessities. Here is a checklist of important items for your holidays or business trips, whether it is across lands or down by the beach.

"Certain countries have restrictions on the amount of currency you may bring in or out of the country"

International passport of at least six month's validity date.

Visa if required for travel to a particular country. Check with your travel agent or directly with the embassy or high ommission of the country concerned.

Vaccination Some countries require a valid certification of inoculation against certain disease for instance, African countries like Cameroon requires a show of a certification of inoculation against yellow fever. Check with the relevant high commission or embassy for details.

Medical clearance form A form filled up by a doctor verifying your fitness for travel. This is required if you are pregnant, asthmatic, carrying contagious disease, suffering from any ailment or when you require special medical assistance. This form is available at the airline ticketing office. The form is to be submitted to the ticketing office and verified by the airline doctor before the ticketing office confirms your fitness to travel.

Customs Check with your travel agent or airline on things that can be brought in or out of a designated country and what are the duty free allowances. These items need to be declared and examined by custom officers at the airport custom checkpoints.

Currency Certain countries have restrictions on the amount of currency you may bring in or out of the country. Check with your travel agent before you embark on your trip.

Map or brochures These are handy as they provide information about your destination, places of interest, customs, restaurants, dos and don'ts, as well as providing directions for you to move around on your own.

Multi-vitamins and medication Fill them in a daily dose pill box so you don't forget to take them. You don't want to ruin a perfect holiday by falling sick. If you need to bring some medication, do get a letter from your doctor explaining your health condition and the required medication.

First aid kit It is recommended to pack a first aid kit with items such as band aids, disinfectants, pain killer and influenza medicines. It may be difficult to find medicine when you're traveling.






Travel insurance This may be the last thing you want to think about but it is better to be prepared for any contingencies such as delays, lost baggage, accidents or sickness, and travel with a peace of mind. Check out at AIA Travel Insurance & Personal Insurance visit our website

http://aiapenang.blogspot.com
http://aia.com.my

From :
Mr Mike Saw,
Tel : 017-4930232.
Your One Stop Insurance Partner.

Financial Planning -Live Too Long - Die Too Soon Or Become Disability Too Early ! Are You Prepared !!!

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Protect Your Home & Property with AIA Home Plus

PROTECT YOUR

HOME & PROPERTY

Preventing crime during family travel starts with making sure your home is protected while you're away. The key is to make it look like you never left...

Protect Your Home & Property :

Preventing crime during family travel starts with making sure your home is protected while you’re away.

The key is to make it look like you never left……….

From ;

Your One Stop Insurance Partner.

Mr Mike Saw ,Tel:017-4930 232.

http://aiapenang.blogspot.com

http://allianzauto1.blogspot.com

http://nazabrabuspenang.blogspot.com