Many car owners in Malaysia only look at the premium amount on the insurance renewal notice without really understanding how that number is calculated. The Car Insurance Premium Estimator at Hartanah Bumiputera breaks down that calculation into understandable components, so you know what actually affects your cost.


Main Factors

  • Sum Insured: The market value of your car, with the premium calculated according to the value tier, with an additional rate per RM1,000 for values exceeding each tier.
  • Engine Capacity (cc): Cars with larger engines generally have higher premiums per value tier.
  • Type of Coverage: Comprehensive coverage protects your own car + third parties, while Third Party Only coverage is much cheaper but does not protect damage to your own car.
  • No Claim Discount (NCD): Tiered discount based on the number of years without claims, starting at 25% in the first year, increasing up to 55% after 5 clean claim-free years.
  • Stamp Duty & Service Tax: Fixed RM10 stamp duty, plus 8% service tax (SST) on the net premium.


Electric Vehicles (EV)?

This calculator also supports specific EV calculations, considering that there are no traditional cc tiers for electric vehicles, vehicle class (sedan/SUV/etc.) is used as a proxy, with an additional premium loading (~15%) reflecting the generally higher cost of EV spare parts/repairs compared to conventional engine cars.


How to Use for Renewal

Before your insurance renewal expires, enter the current insured amount (can be obtained from your old renewal notice or the latest estimated market value of your car), engine cc, type of coverage you want, and your NCD year, the calculator will give an estimated net premium, stamp duty and total amount in a blink of an eye, allowing you to compare with the actual quote from the insurer.


Try it yourself at Car Insurance Premium Estimation Calculator.


This is an illustrative estimate based on the general rate structure of the Malaysian motor insurance industry — the actual premium varies according to insurer, detailed claim history and selected add-ons. Get an official quote from a licensed insurer/broker for the exact figures.