Your premium is the price you pay to insure your car or motorcycle from the unexpected. It’s tailored to you based on where you live, the vehicle you own, and the level of cover you’ve chosen.
To figure this part out, we look at the cost to repair or replace your car or motorcycle, as well as:
When disaster strikes and many people need help to recover, reinsurance (insurance for insurers) helps cover the cost of paying these claims. So that we can be there for you when you need us most, a portion of your premium goes towards reinsurance.
On top of your premium, we collect taxes and levies that are set by the government.
When nothing’s changed at your end, it’s hard to understand why premiums go up. Here are some reasons why you might see a change.
The latest cars have features like parking sensors and collision avoidance that make driving safer but they’re more expensive to repair.
If a lot of people make similar claims, prices can go up.
Levy amounts are set by the government and tend to increase over time.
Your premium can also change if you adjust your excess, add or remove optional benefits, or change your level of cover or sum insured amount.
You can choose from three levels of car insurance cover to suit your needs and budget. For motorcycle insurance, you have two options – Comprehensive and Third Party Only.
Broad cover that keeps you well-protected against all sorts of unhappy surprises on the road, whether it’s your fault or someone else’s. Plus, it comes with free AMI Roadside Rescue (car insurance only). T&Cs apply.
Protection for the essentials so you’re covered for theft, fire, damage to someone’s vehicle or property, accidentally injuring someone while driving, or for damage caused to your car by an uninsured driver.
Value cover that protects against damage to someone else’s vehicle or property, accidentally injuring someone while driving, or for damage caused to your car or motorcycle by an uninsured driver.
An excess is the amount you contribute to a claim. A vehicle excess and sometimes other excesses apply for each incident. You pay the excess, then we cover the rest of the cost of the claim. Whether you pay an excess or not depends on the incident and who's involved.
Sum insured is the maximum amount we'll pay you if you make a claim. It needs to be enough to replace your car or motorbike if it was damaged beyond repair or stolen.
If you're going through a tough time or need help accessing our services, we’re here to help.
