For cars above five years of age, insurance only covers a portion of accident repair costs. The reason is that fully repairing your car with brand new original parts enhances your car to a state that was better than it was before the accident.
Betterment charges is the insurance companies' way of making you pay for that difference. The older your car, the bigger that difference will be, and you may be expected to pay anywhere between 20 and 50% of the overall repair costs.
In view of this, if you're driving a luxury car more than five years of age, you may want to consider paying for betterment waiver. It is, in essence, a top up of your premium to enable you to get full insurance coverage in accident involving your aging car. Insurance companies don't really promote this, but you should ask about it the next time you renew your policy.
Also watch: Car Insurance in Malaysia, A Summary - https://youtu.be/VMAcYCGmHEU
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Hello kon,if I buy 2014 last gen jetta, what problem may arise and can wernes fix it? Tq
*for axia money to buy a sleeper car I feel it not bad can go evo enduro ulu yam ~
the top up.. is excess amount... i claim on he insurrance, 4k... but i have to pay a rm500++ excess... the girl help me write a letter send to insurance company to help me claim, and claim how many days i got no car to use....
Skipping the betterment may not only give you oem parts. If there are no oem parts, they will give you second hand original parts, (which have a tendency to breakdown after their warranty period). I had a second hand exhaust sensor died immediately after the warranty.
Kon Wai Luen true.. didn't know there was a betterment waiver. I'd go for it after my past experience.
Edit: i mean i rather top up on the insurance premium to make sure i can get the better deal from the betterment. Especially if the ride is expensive
Yeah, though some only offer it to limited number of models. It's not worth if you're driving a Proton or Perodua, but you may want to consider it if your car has fancy lights that costs thousands a pop.
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