SHAH ALAM, 14 FEB: Vehicle owners across the country will be facing a rise in motor insurance tariffs starting tomorrow, January 15, 2013.
This restructuring will involve motorcycles, cars, buses and taxis, and each increase is different according to the vehicle accident risk according to accident records criteria as well as the current condition of the vehicle.
TVSelangor reporters contacted several insurance agents to obtain further clarification on the news.
Based on the information given, there is a RM12 increase for every RM1,000 insurance value paid by road users.
However, this increase will depend on the insurance company and whether or not thew will increase it tomorrow or if the company can postpone it till March.
The gradual increase will be until the year 2015 starting from 2012 and this year would be the second increase.
Based on several media reports, on February 2011, this matter was personally announced by the Assistance Governor of Bank Negara, Abu Hassan Alshari.