by NURUL SUHAIDI / pic by BERNAMA
UP TO 20 automotive companies have agreed to participate in the Keluarga Malaysia Automotive Discount Voucher initiative so far, says Finance Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.
“Owners of vehicles damaged by floods can redeem the vouchers at service centres or authorised dealers for the automotive companies involved,” Tengku Zafrul said, adding that vehicle owners do not need to make any application to be eligible for the discount voucher.
“The reduction in repair costs will be enjoyed by direct deduction from the total cost of repairs or the cost of replacing new vehicles through invoices that will be issued by service centres and authorised distributors,” he said in a statement last Friday.
Flood victims whose vehicles were damaged have until March 31, 2022, to claim the Keluarga Malaysia Automotive Discount Voucher.
“The government welcomes the move by Perusahaan Otomobil Kedua Sdn Bhd (Perodua) and Proton Holdings Bhd to offer a 50% discount on the cost of spare parts. Perodua has also offered free repair manual labour.
“The government encourages other automotive companies to also offer better incentives to its customers,” he said.
The government, according to the minister, has increased the maximum amount of funding to RM700,000 for small and medium enterprises from RM500,000 previously.
Meanwhile, for micro-enterprises, the maximum financing amount is increased from RM75,000 to RM150,000, said Tengku Zafrul.
“The maximum funding period has also been extended from five years to seven years,” he said.
Among participating companies for the discount voucher are Perodua, Perusahaan Otomobil Nasional Sdn Bhd, Tan Chong & Sons Motor (Nissan), UMW Toyota Motor and Honda Malaysia among others.
Separately, Persatuan Insurans Am Malaysia (PIAM) and its member is allocating RM2.43 million contribution and set up a CSR Flood Relief Fund (CSR Fund) to subsidise the affected car owners whose vehicles were inundated under floodwater.
This is part of its association CSR initiative and commitment to alleviate the flood victims which were affected in at least seven states nationwide.
The fund will cover the subsidy for mechanical clean-up cost (excluding repair) at any competent workshops that are provided by the general insurance industry according to their existing commitment to expedite payment of flood claims settlement.
It also offers a waiver of certain mandatory claims documentation, simplified claims process, additional special relief measures that may be provided by individual insured.
PIAM added that for now the CSR Fund will be closed once the allocation pledged amount of RM2.43 million has been fully utilised.
The subsidy is given per vehicle basis from motorcycles to private vehicles including commercial vehicles irrespective of the types of motor policy it has, which can range from comprehensive cover with or without special perils extension, third party fire and theft, and third party.
As for the motor policy, the applicant must show the validity of their vehicle damage at the time of flooding.
In the event of lapsed motor policies, the vehicles must be at least last insured on or after June 1, 2021.
The subsidy will be calculated on an actual cost incurred basis and will be capped at RM100 per motorcycle and RM500 for each private or commercial vehicle.
However, the successful claim for subsidy will not affect the No Claim Discount.
Those who are eligible for the claimant and fulfil the requirement will get the payout directly credited to their provided bank account and will be notified through email once the payment is done.
For more on the subsidy information, accessed through the portal at MyCSRFlood.my and can be obtained from their respective insurer.
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