In The News

Wednesday, 22 February 2023: SME Asia, Features

A lot of unexpected things can happen in life and if you have not already signed up for sufficient insurance coverage, now is the best time to do so to protect yourselves from unforeseen perils or risks that may happen anytime throughout the year. With adequate insurance coverage, you can glide through 2023 with peace of mind knowing that you and your loved ones are covered financially in times of emergency.

With that in mind, Liberty Insurance would like to share a few different types of insurance coverage that you may want to consider equipping yourselves with this 2023 for holistic coverage. If you already have this insurance, do ensure that it is adequate and covers all aspects necessary.

Protect Loved Ones from Financial Ruin

First and foremost, the most basic insurance coverage that one should have, is personal accident coverage. Some might not know this but having Personal Accident (PA) insurance can be a literal lifesaver especially when your world is turned upside down due to an accident. Having a PA can certainly help with unexpected expenses occurring after an accident. Especially, if you are the sole breadwinner of the family, having a PA is essential.

Liberty PA Guard policy provides you and your family with comprehensive 24/7 worldwide coverage and protection against unexpected circumstances. It covers accidental death, permanent disablement, medical expenses, snatch theft, personal liability, and up to 23 benefits in total.

Be Prepared for a Rainy Day

Let’s face it, Malaysia is a flood-prone country where flash floods and even unprecedented major floods have been happening time after time. Have we not learned from past experiences yet? With Malaysia’s heavy rainfall annually, it is a no-brainer to ensure that your insurance includes flood coverage.

Some might argue that flood coverage is not needed as they do not live in a flood-prone area, but judging by the past two years of merciless continuous rainfall, even the most unexpected places can end up flooding leaving behind damaged homes and vehicles in the blink of an eye. That said, to protect you and your loved ones from having to fork out an extensive amount of savings for repairs, flood coverage is a must.

New Year, New Wheels

With all the amazing year end and new year deals out there, it is hard not to be tempted by the good deals and own a new vehicle. Be it a trade up or the first ever vehicle owned, it is imperative to get adequate motor insurance coverage. Doesn’t matter if it’s two or four wheels, an insurance plan is necessary to be protected from unforeseen circumstances and perils.

Meanwhile, the Private Car Comprehensive Tariff policy protects your vehicle from damages caused due to unexpected accidents. It covers every aspect of your vehicle, as well as protecting you against liabilities to third parties. With this policy, your vehicle is also covered by loss or damage to your own vehicle due to fire, theft, accidents, and Third-party bodily injury and death cover.

As for the Motorcycle Comprehensive, it covers losses caused by Own Damage, fire, or theft and also protects owners against liabilities to third parties.

May the Fortune Rabbit Shine Upon Business

With so many uncertainties and even the much-talked-about recession hitting every economic sector and industry, it is indeed worrying to think about the future of your own businesses. More so when it comes to SMEs, a lot more is at stake when something unexpected hits. This is why getting your businesses insured is vital. Doesn’t matter if it’s a company of one employee or 50 employees, insurance is necessary for all. Another wrong assumption to make is that your home insurance is sufficient if you operate your business from the comfort of your own home.

This is incorrect because a home and business are two separate entities and should be treated as such. If a fire or flood damages business assets or equipment in your own home, it is not covered by your home insurance. So, to safeguard your business, Liberty Insurance offers its BizCare plan that is a holistic plan tailored to cover every SME business needs.

In addition to BizCare, Liberty Insurance also offers Legal Shield, an add-on option that protects businesses from legal action. It not only covers legal action from third parties such as customers or other companies, it also covers legal disputes with current and ex-employees. Legal Shield aims to shield businesses from facing the full brunt of the law and its high costs.

As employees, all we want is to be seen, acknowledged, be recognised and to be given equal opportunities for growth. However, over the past two years, the Covid-19 pandemic has left some employees feeling disconnected, isolated and stunted in terms of career progression and knowledge acquisition.

Both employers and employees had to adjust to the new norms of working from home while simultaneously trying to balance maintaining employee productivity, and engagement and simply to keep morale up. This was no easy task for any company big or small, as working remotely in isolation was something completely new to most....

Read the full article at HR Asia

Published in Business Today on 4 August 2022

Home is where the heart is and for most, a home is where one can find comfort and solace. That said, doesn’t it make perfect sense to safeguard and protect one’s most precious asset – their home? With a proper insurance plan in place, precious valuables and priceless belongings in the house can be safeguarded from any untoward incidents. Victims of
such unfortunate circumstances would also not be left in a financial lurch as repair cost mounts.

In a tropical country like Malaysia, getting a proper house insurance coverage is pivotal. If anything, a lesson should be learnt from the most recent flooding that wreaked havoc on thousands of houses in Selangor where many have lost their homes. Based on reports, thousands of flood victims with an estimated damage cost of at least RM20 billion were left with huge repair bills and no means of paying for it.

Yet, there are many Malaysians that are deeply underinsured and uninsured for weather-related perils, especially the B40 groups who see insurance as a luxury rather than a necessity.

Based on the Department of Statistics Malaysia (DoSM), Malaysia reported a loss of about RM6.1 billion due to floods in 2021. Meanwhile, the Selangor Fire and Rescue Department dealt with 8,814 fires involving buildings and properties in the state in 2021. In the same period, some RM347.7 million in losses to fire were recorded, increasing from RM297.9 million losses in 2020. The most common causes of fire breakouts in residential houses include cooking or boiling water left unattended, leaking gas regulators and hoses, short circuits due to electrical wiring and the use of uncertified electrical equipment.

“With these rampant natural disasters hitting thousands nationwide annually, it is about time this mindset about the importance of insurance be changed. It is our hope at Liberty Insurance that all homeowners be educated about the importance of home insurance and what to look out for in terms of coverage. That way, more homeowners and their homes can be thoroughly protected and covered by insurance if and when natural disaster strikes or an untoward incident occurs like theft for instance,” said Liberty Insurance Berhad Commercial Lines Head, Foo Yong Chiat.

Houseowner or Householder Insurance Policy?
For most insurance packages, there are two aspects to a home insurance plan to look into – the Houseowner plan and the Householder plan. What is the difference? Simply put, the houseowner policy usually covers the house structure that includes walls, ceiling, roof, fixtures and others. Meanwhile, the householder policy covers the content in the house like furniture and so on. Both the insurance policies are equally important and with both policies in hand, home owners can rest easy knowing that their most precious belongings are safeguarded at all times.

Other things to look into for a holistic home insurance plan include coverage for natural instances such as disaster relief including fire, lightning, windstorm, earthquake and floods. These are important key factors to note, especially where fire, lightning and floods are concerned in Malaysia. Another thing to look out for is if the coverage includes sudden impact situations where your house may be damaged by road vehicles, animals or domestic gas explosions.

If the home is being rented out, there are also plans that cover rental loss, theft and even damages caused by overflowing water tanks or burst water pipes. If this basic coverage is not sufficient, then be sure to look out for add-ons to the policy that covers landslip especially for houses on a hill for example.

While the exterior of the house is well covered and protected, the insides must be equally protected too. Precious belongings like furniture, electrical appliances, kitchen equipment, clothing, personal effects and valuables should be well covered by a proper insurance plan. Other items like cash, jewellery, damage to lock and keys should also be included into the insurance plan.

To get all the above and more, Liberty Insurance offers both the home insurance plans that are holistic and comprehensive. Its Householder and Houseowner Insurance Policies cover all aspects and come with various add-ons to suit every home owner’s needs. If you are still unsure about how to choose an insurance package that encompasses all aspects, the knowledgeable Liberty Insurance agents are always on hand to guide a homeowner through the whole process and which plan suits them best.

Published in Sinar Daily on 27 October 2022

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- msn

The roads are full of various types of drivers ranging from speedy drivers to the slow drivers, reckless drivers to distracted driver or the tailgaters.

Every driver has a different driving style, culture and personality — but how can you tell what type of driver you are based on the way you drive? Learn who the seven types of drivers are, their characteristics and how best to deal with them.

THE SPEEDSTER
 

Speedy drivers are the most aggressive and common type of drivers, they switch lanes swiftly and behave like they are the only ones on the road.

Speedsters are out to feel the thrill of the ride and to break all the speed rules. They love the rush of tailgating, forcefully overtaking others who are keeping to the speed limits. However, speeding can also cause a driver to lose control, swerve easily as when a vehicle is moving too quickly, its overall traction with the road is lowered.

THE SLOTH
 

Slow ones believe it is always good to drive slowly. Although driving slowly and carefully is appropriate in many situations, this type of driver can definitely be a hazard to your safety and sanity.

Not only do they drive way below the speed limit, they also cause other drivers to hit their emergency brakes just to avoid colliding with them. It's usually the tailgating and premature braking that lead to accidents.

THE NERVOUS DRIVER
 

If you are driving along and come across a nervous driver, avoid accelerating quickly and swerving around them. Indicate early to show them that you are slowing down, keep a safe distance, and they should relax.

THE ENGROSSED DRIVER
 

These drivers are always multi-tasking, that includes texting, making calls, eating or drinking, browsing on Facebook, and even skyping while driving and it feels like driving is the last thing on their mind.

Like it or not, these drivers can be some of the biggest hazards on the road. They can cause accidents simply by their simple mistake of glancing at their phone quickly. This can result in a BANG!

THE ROAD RAGER
 

Flashing lights, obscene gestures and language, and bursting blood vessels are tell-tale signs of the road rage.

This is a popular class of driving behaviour that can be described as "driving in anger", where the driver is likely to lose control of their car and be at risk of injury or worse, if the driver brakes suddenly or swerves onto the wrong side of the road.

THE OBEDIENTLY KIND DRIVER

Seems like these types of drivers like to sit too close to the steering wheel?

While rare, they do exist. They let everyone merge into their lane, never honks at anyone and are law abiding drivers. They are very respectful to all traffic rules and are also very tolerant of other reckless drivers on the road. They are very patient and will always give way at an intersection, even if it is their right of way.

THE MAKE-UP ARTIST
 

Here’s why you should put that lipstick on before you get behind the wheel.

If you’re behind the person applying makeup, stay behind them. That might be the safest place to be as you can react to sudden movements in front of you. She’s not going to rear-end you if she’s in front of you.

Drivers should be educated to take precautions against these types of drivers as they have the ability to negatively impact one’s day.

However, it is important that you don’t try to compete with them and the best approach is to stay miles away from them because they are unpredictable by nature.

No matter how careful you are on the road, you will still never be able to foresee unforeseen circumstances. Having motor vehicle insurance is a great way to safeguard yourself and those who rely on you.

An example of an insurance would be Liberty Insurance. Its Private Car EZY Plus Comprehensive insurance is a holistic coverage plan that includes personal accident, medical expenses, key replacement and child seat replacemetn.

Liberty Insurance got you covered! Their Private Car EZY Plus – Comprehensive insurance is a holistic coverage plan that includes personal accident, medical expenses, key replacement and child seat replacement. Find out more at visit www.libertyinsurance.com.my.

KUALA LUMPUR: There are lots of different types of drivers on the road.

Some people drive smoothly and calmly, while others cut you off, flash their lights and honk out of anger.

In a public service announcement, Liberty Insurance said it was important for drivers to be aware of their actions and how their driving affects other drivers, pedestrians and cyclists.

"The more we talk about the dangers of driving and its impact on other people, the more effective it is for preventing accidents from occurring.

"Every driver has a different driving style, culture and personality — but how can you tell what type of driver you are based on the way you drive?" the company said.

Learn who the seven types of drivers are, their characteristics and how best to deal with them.

1. The Speedster
Speedsters are out to feel the thrill of the ride and to break all the speed rules. They love the rush of tailgating, forcefully overtaking others who are keeping to the speed limits. However, speeding can also cause a driver to lose control, and swerve easily as when a vehicle is moving too quickly, its overall traction with the road is lowered.

2. The Sloths
It may be hard to believe, but this type of driver can definitely be a hazard to your safety and sanity. Not only do they drive way below the speed limit, they also cause other drivers to hit their emergency brakes just to avoid colliding with them. It's usually the tailgating and premature braking that lead to accidents.

3. The Nervous Driver
If you are driving along and come across a nervous driver, avoid accelerating quickly and swerving around them. Indicate early to show them that you are slowing down, keep a safe distance, and they should relax.

4. The Engrossed Driver
Like it or not, these drivers can be some of the biggest hazards on the road. They can cause accidents simply by their simple mistake of glancing at their phone quickly. This can result in a BANG!

5. The Road Rager
This is a popular class of driving behaviour that can be described as 'driving in anger', where the driver is likely to lose control of their car and be at risk of injury or worse, if the driver brakes suddenly or swerves onto the wrong side of the road.

6. The Obediently Kind Driver
While rare, they do exist. They let everyone merge into their lane, never honks at anyone and are law abiding drivers. They are very respectful to all traffic rules and are also very tolerant of other reckless drivers on the road. They are very patient and will always give way at an intersection, even if it is their right of way.

7. The Makeup Artist
Stay behind them. If you’re behind the person applying makeup, that might be the safest place to be as you can react to sudden movements in front of you. The makeup artist is not going to rear-end you if the person in front of you.

"No matter how careful you are on the road, you will still never be able to foresee unforeseen circumstances.

"Having motor vehicle insurance is a great way to safeguard yourself and those who rely on you," the company said.

Liberty Insurance's Private Car EZY Plus - Comprehensive insurance offers a holistic coverage plan that includes personal accident, medical expenses, key replacement and child seat replacement.

Aside from this, the plan also has add-ons that include coverage for Flood Allowances, 24-hours unlimited mileage towing, side mirror damage and others.

Get insured with Liberty as you may just stand a chance to participate in their future campaigns.

Recently, Liberty’s Kaw Kaw campaign came to a close with multiple winners taking home amazing prizes such as cars, motorcycles, mobile phones and e-vouchers.

To find out more about Liberty’s Motor Insurance, visit www.libertyinsurance.com.my.