Used car trading platform CARSOME has tied up with Malaysian insurtech company PolicyStreet to roll out the CARSOME Care+ coverage.
The complimentary coverage is valid for a year and is embedded into every purchase of a CARSOME Certified car, available to Malaysians who apply for car loans from CARSOME Capital without any additional cost.
CARSOME Care+ includes personal accident coverage of up to RM10,000 in the event of accidental death or permanent disablement.
The new offering also includes loan protection add-on in the event of unemployment. CARSOME Care+ covers car loan payments of up to RM1,000 per month for a maximum of six months.
The coverage also includes weekly hospitalisation benefits, smart key protection in the event of theft or accidental damage, theft of personal belongings kept inside the car, and travel allowance for the transportation of the policyholder’s children to school and tuition classes.
Policyholders who want to claim the CARSOME Care+ coverage can email their bank statement and Employment Insurance System (EIS) documentation to PolicyStreet.
Yen Ming Lee , Co-founder and Chief Executive Officer of PolicyStreet said,
“While car insurance is mandatory for road-legal vehicles, there are no regulations to ensure that the drivers themselves are protected while on the road.
Regardless of the circumstance, we believe that insurance is a peace of mind that every Malaysian should be able to enjoy. Through our partnership with CARSOME, we hope to narrow the protection gap and protect underinsured Malaysian drivers.”
Eric Cheng, Co-founder and Group CEO of CARSOME said,
“We understand the worries and uncertainties that come with car ownership, and that’s precisely why we’ve partnered with PolicyStreet to provide this added layer of protection.
CARSOME Care+, combined with our existing quality guarantee through CARSOME Certified, ensures that you can enjoy a worry-free and hassle-free car buying experience.”
