Trust me – this is the 5 general insurance coverages you need

I have been pretty vocal about the importance of insurance – be it travel, medical or car for some time. Every so often I wondered if I could have been a successful insurance agent at the rate I go on and on about the significance of proper insurance coverage one needs!
While I won’t claim to know -it-all, I’m of opinion that there are five general insurance coverages that one should have.

A while back I was piqued about liberalisation as it had affected me as a car owner. You can check out that article here and likewise this informative article published on The Star.

That was for motor insurance.
Now, what are the four others?

In a nutshell, an individual should have the following:
1. Personal Accident
2. Motor (if you own a vehicle)
3. Medical
4. Home
5. Travel

Personal Accident (PA) and Motor:

I have a bike as well as a car license. I don’t use a bike in KL as that would be suicidal, but within Penang, I find it convenient to zoom about on one. Furthermore I road-cycle as part of my fitness regime. That equates to many hours on the road and as long as I’m on the road, I know I’m at risk. And so are you.

Thus it is crucial to take precautionary steps to ensure your wellbeing and to protect yourself against potential calamities.

A personal accident plan and motor insurance would ease the financial burden on you and your family if you got involved in an accident. It protects you against loss of income, reimburses the medical expenses incurred and with those taken care of, you could recuperate with ease of mind.

Medical insurance :

Speaking of accidents, while getting hurt or sick isn’t a desired affair, unexpected medical complications can occur.

Having a health insurance plan helps to lower the burden of such high costs besides providing financial protection against ongoing heavy medical bills.
I’ve personally broken a right femur, crushed some bones in my foot, sliced my finger into half, fractured my wrist, had my appendix removed and have been habitually hospitalized for stomach ailments for the past decade.
As of now I’ve incurred over RM350,000 in hospital bills. Thanks to insurance, I haven’t paid a single cent (except for a few hundreds that wasn’t covered within the insurance policy) and that’s the truth.

Wait, did you said “Wah, you so lucky”?

No, my dear friends, it has nothing to do with luck but everything to do with astute financial planning and maturity.
The old thinking of “It won’t happen to me” isn’t sensible anymore.

Rebecca saw - tropicana medical centre

Being ill, getting diagnosed with chronic diseases and having malignant growth in our bodies are common occurrences now.
Recovering from such life threatening conditions requires skilled physicians and the best medication, all of which can be costly.
Some of my friends said felt that insurance is a burden and takes a chunk out of their active incomes. I’ve always advised them to think of it as an investment. In fact policies with investment linked options are a form of life savings anyways! You should take time to research and you will be surprised on how affordable some policies are. Get what you need or at the very least the basics.

Travel insurance:

The optimism of “It won’t happen to me” is a false blanket of security. You can be most careful, but there will be circumstances out of your control during a trip.

Did you know that travel insurance covers more than just your medical bills? So even if you’re fit and healthy and unlikely to get sick, you should still consider purchasing travel insurance. Flights can be delayed, baggage lost, credit cards stolen and an emergency might mean you have to return early or not travel at all. A comprehensive travel insurance policy would protect you against these frustrations.

Personally I travel often within Malaysia and overseas. Thus my travel insurance premium covers both domestic and international travel. Like all policies, research, select wisely and pay only what you need.
But don’t go without!

Home insurance

My home is my safe haven where I sought rest after a long day out, where I grow my plants and where I whip up my meals, among other functions.
My landlord has the best home insurance she believes is best for her property. On my end, I am only required to cover for the contents which are mine because my landlord is not liable if my television or laptop, for example, are stolen.

If you are a direct owner, a house insurance is likely a requirement. After all, if your house gets damaged, the emotional and financial pain of rebuilding a house or reinstalling its contents is painful, difficult and tedious.

If you are a direct owner, a house insurance is likely a requirement. After all, if your house gets damaged, the emotional and financial pain of rebuilding a house or reinstalling its contents is painful, difficult and tedious.
The home insurance which is part of your home loan contract usually provides only basic coverage against fire, thus a more comprehensive plan should be considered to cover against theft and other unforeseen circumstances. In fact as an occupier, I can even get reimbursement on my rent and accommodation expenses.

Last but not least, you should select your insurance agent with as much consideration as you would for your insurance policies. Does your agent portrays competency and thorough knowledge of the policies? How was his/her aptitude – helpful, honest and trustworthy?
Remember that in times of emergencies when you need help with claims, you need someone reliable.

In a nutshell, spend time to research for the best features and price for your policies and take time to evaluate if your agent possesses the qualities of a dependent ally.

Remember, insurance not only gives you peace of mind, but will make it easier for the insured to weather through challenging, unanticipated crisis.

Interested to find out more?
I recommend that you check out Chubb Insurance Malaysia Berhad, formerly known as ACE Jerneh. I’ve posted about my Chubb experience on travel insurance – you can read about it here. The company does not only offer travel insurance but a comprehensive range of general insurance solutions for individuals. For more details, please surf over to

This Post Has 2 Comments

    1. Rebecca Saw

      Hahha – I’m renting so no home insurance for me either. But I get my stuff in the house insured instead 😀

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