Leading recond vehicles warranty provider in Malaysia, APEG System Sdn. Bhd. has introduced a brand new product from recond car owners. Dubbed as IVIP the acronym stands for Imported Vehicles Insurance Package.
IVIP is a comprehensive insurance package tailored in collaboration with a leading insurance company which presents special benefits for recond car buyers. Here are some of the extra benefits of IVIP:
Unlimited Towing Assistance:
Vehicle that are involved in accidents, breakdowns or submerged in floods will be towed to an official repairer or the policy holder’s preferred workshop as necessary regardless of distance and frequency.
No Loading or Excess Clause:
The IVIP enables the policy holder to renew the policy without incurring Loading or Excess fees for 10 years. Most policies are subject to an excess clause. An excess is the first amount of a claim for which you will have to pay. Your insurance pays for the amount beyond the excess. The excess clause may apply on repair claims and/or on theft claims. Some insurers will overlook application of the excess if repairs are undertaken at their panel of repairers.
No Betterment Clause
The basic premise of a motor insurance policy is to put the owner in the same condition as he would have been in before an accident occurs. Betterment will apply, when in the course of repairing an accident-damaged vehicle, a new part is used to replace an old part (Applicable for vehicle below 10 years from the date of manufacture). Betterment is a portion of the cost that consumers will have to bear when the damaged part of the vehicle is replaced with a brand-new original part. As the car will be in a better condition prior to the accident the insurance company will require the car owner to bear the difference in costs. With IVIP the betterment cost is waived probably saving you thousand of ringgits in betterment fee.
100K PA Coverage
The IVIP policy comes with a Personal Accident (PA) coverage of up to RM100,000.00
Flood Coverage
The VIP has an additional RM5000.00 coverage should the vehicle be involved in a flood. This is over and above the special perils coverage.
Car Replacement Allowance
Should the vehicle be involved in an accident or flood which requires days for the repairs to be completed. The IVIP car replacement coverage will kick-in with an RM150 allowance per day for the first 3 days.
Special Perils
The tropical thunder leaves behind quite a path of destruction and falling tree due to lightning strikes gives us the jitters. The IVIP package has you covered from the damaged a falling branch or tree can cause under the special perils coverage.
Unlimited Unnamed Drivers
It’s basically an all-driver policy except when it’s a compulsory excess like in the case of a company driver which will cost an additional RM30.00 to be included.
Key Replacement
An average digital key costs well over RM1000.00 to be replaced. The IVIP package covers up to RM1500.00 in the case that your keys needs to be replaced.
