KUALA LUMPUR (Oct 13): Etiqa, the insurance and takaful arm of the Maybank group, has launched an usage-based motor insurance and takaful add-on that offers drivers rebates of up to 30% of their premiums or contributions based on vehicle mileage clocked.
Dubbed "Drive Less Save More", the optional add-on is free, with rebates paid whenever a claim is made at a customer’s convenience, subject to a minimum of 10 days between each upload. The add-on is available to all Etiqa private car comprehensive drivers when purchasing new or renewing motor insurance or takaful.
"With people working from home and having restricted mobility due to Covid-19, people are driving less while still having full motor insurance or takaful. Despite the pandemic, the risk of cars getting stolen remains the same. Etiqa’s [latest] add-on has been designed to assist Malaysians through their financial hardship by offering customers rebates for reduced mileage," said Etiqa in a statement.
Etiqa General Takaful Bhd chief executive officer (CEO) Shahrul Azuan Mohamed and Etiqa General Insurance Bhd CEO Fukhairudin Mohd Yusof said: “We recognise the fact that there has been a reduction in driving activities during the Covid-19 pandemic, with a significant number of people working from home. Driven by Etiqa’s vision to make the world a better place, we would like to give back to those who have been using their vehicles less by rewarding them with rebates on their motor insurance premiums or takaful contributions. After all, by driving less, we can also do our part to save the environment."