Comprehensive Commercial Vehicle Policy

AIA offers Comprehensive Motor Insurance to Private Cars and Commercial Vehicles. Private Cars include cars for private use or business use whereas Commercial Vehicles include vehicles with only “C” Permit (Carriage of own goods) pickups or vans up to three (3) tons carrying non-hazardous goods.


For enquiries on your No Claim Discount (NCD) entitlement, please visit the ISM website:


Click here for the updated list of Panel Workshop



Comprehensive Commercial Vehicle Policy provides insurance against liabilities to other parties for bodily injury or death, damage to other parties’ property, and accidental or fire damage to your vehicle or theft of your vehicle.


This policy covers:

  • Third party bodily injury and death;

  • Third party property loss or damage; and

  • Loss or damage to your own vehicle due to accidental fire, theft, or accident.


Optional benefits that you may purchase by paying additional premium:

  • Windscreen damage

  • Loss or damage arising from an act of nature, such as, flood, storm and landslide (Special Peril)


Duration of cover is for one year. You need to renew the insurance cover annually.




1. How much premium do I have to pay?
The total premium that you have to pay may vary every year depending on the no-claim-discount (NCD) entitlement and the underwriting requirements of the insurance company such as age of vehicle and claims experience. For example:

  • Standard cover : <RM2238.50> premiums for sum insured of <RM58,000.00> for vehicle with goods carrying capacity <3000KG>

  • NCD entitlement : <15%>

  • Additional cover : <RM90.00> for windscreen cover of <RM600.00>

The estimated total premium (inclusive of stamp duty and service tax) that you will have to pay is <RM2122.29>

Under the Cash-Before-Cover (CBC) Regulations, premiums must be paid before a motor insurance cover note or policy can be issued. You are therefore advised to pay the premiums directly to us, either by cash, credit card or cheques which should be made payable only to “AIA Bhd.”.


2. What are some of the key terms and conditions that I should be aware of?

  • Importance of disclosure - you must disclose all material facts such as previous accidents, claims experiences and any modification to engines.

  • Insured value/Sum Insured - you must ensure that your vehicle is insured at an appropriate amount. For a new vehicle, the insured value will be the purchase price while for other vehicles, the insured value is the market value of your vehicle at the point you apply for this product.

  • Over-insurance – this occurs when you insure your vehicle for a sum higher than the market value. When you make a claim, we will only pay you the market value of your vehicle. If you over-insure your vehicle, you have paid higher but incurred unnecessary premiums.

  • Under-insurance – this occurs when your sum insured is lower than the market value. In such a case, you are considered to ‘self-insure’ the difference between these two values. Therefore, in the event of damage, you have to bear your insured portion out of the total repair cost yourself.

  • Valuation – the market value of your vehicle would be determined in the event of a dispute by the Head Office of the Franchise-holder. In the event no Franchise-holder is available for the make of your vehicle, the market value of the vehicle would be determined by a Loss Adjuster licensed under the Insurance Act, 1996 and its subsequent legislation, agreed to by both you and us.

  • Principle of Indemnity - based on this principle, the insurance cover will compensate your loss by putting you back to the same position you were in immediately before the loss. You cannot ‘profit’ from a motor insurance claim.

  • The excess – this is the amount of loss you have to bear while we will pay for the balance of your vehicle damage claim. If you have an ‘excess’ on your policy, you must pay the amount of the ‘excess’ direct to the repairer.

  • Accident and claims procedure – you should obtain details of the accident such as the vehicles involved, lodge a police report within 24 hours of the incident, notify us immediately and submit the claims form with complete supporting documents. You are advised to deal only with PIAM Approved Repairers Scheme (PARS) Workshop.If you are not at fault in the accident, you can submit the claim either directly to the insurance company of the party at fault, or to us under Own Damage Knock-For-Knock claim, without losing your NCD entitlement. You are encouraged to submit your claim to us for speedier claims processing.You are eligible to claim from the third party insurance company for ‘compensation for actual repair time’ (CART) and compensation of excess. For the actual repair time of your vehicle, this is based on the adjuster’s recommendation on the number of days required for your car to be repaired. We may allow an additional 7 working days for any unforeseen or unavoidable delay.


3. What are the major exclusions under this plan?

This policy does not cover certain losses, such as:

  • Your own death or bodily injury due to a motor accident;

  • Your liability against claims from passengers in your vehicle;

  • Loss, damage or liability arising from an act of nature, i.e. flood, storm or landslide;

  • Your vehicle left unattended after an accident or breakdown or not fit to be driven on the road;

  • Consequential loss, depreciation, wear and tear, mechanical or electrical breakdown failures or breakages.

This list is non-exhaustive. Please refer to the policy contract for the full list of exclusions under this policy.


4. Can I cancel my policy?
You may cancel your policy at any time by giving written notice to us. Upon cancellation, you are entitled to a partial refund of the premium based on short-period rates provided you have not made a claim.


5. What do I need to do if there are changes to my contact/personal details?
It is important that you inform us of any change in your contact details to ensure that all correspondences will reach you in a timely manner.


6. Where can I get further information?
Should you require additional information about motor insurance, please refer to the insuranceinfo booklet on “Motor Insurance”, available at all our branches or you can obtain a copy from the insurance agent or

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