Takaful IKhlas Motor Insurance is an Islamic alternative to traditional car insurance that operates based on the principles of shared responsibility and mutual cooperation.

Instead of premiums, participants contribute to a shared fund, and any claims made are paid out from this fund.

Takaful Ikhlas Motor Insurance Review

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Takaful Ikhlas Motor Types of Coverage:

Takaful Ikhlas offers various types of coverage for motor insurance. They provide coverage for loss or damage to your vehicle due to accident, fire, and theft. They also cover third-party death and bodily injury, and third-party property damage.

Additional coverage options include passenger liability cover, vehicle accessories cover, strike, riot and civil commotion, waiver of betterment (non-tariff), private hire car endorsement (non-tariff), and special perils coverage.

Coverage Options and Benefits:

1. Third-Party:

• Covers your legal liability for injuries and property damage caused to others in an accident.
• Minimum required by law in Malaysia.

2. Third-Party, Fire & Theft:

• Includes coverage for your own vehicle in case of fire and theft, in addition to third-party liability.
• Provides basic protection against common risks.

3. Comprehensive:

• Offers the most extensive coverage, including:
  • Accident damage to your own vehicle
  • Fire and theft
  • Natural disasters like floods and storms
  • Personal accident benefits for driver and passengers (optional)
  • Medical expenses (optional)
  • Roadside assistance (optional)
• Ideal for comprehensive protection and peace of mind.

Additional Add-on Covers:

• Windscreen coverage
• Special perils (flood, earthquake, etc.)
• Loss of use
• Return to invoice

Policy Features and Add-ons:

Takaful Ikhlas offers additional coverage or optional benefits by making additional contributions (premiums) to the company.

These include legal liability to pillion (LLP), accessories fixed to your motorcycle, inclusion of special perils – protection against convulsions of nature, IKHLAS Motorcyclist PA Takaful – personal accident plan, and strike, riot and civil commotion (SRCC)

Who is Eligible:

The eligibility criteria for Takaful Ikhlas Motor Insurance are not officially stated. However, typically for motor insurance or takaful, the following conditions are generally applicable:

• The person should be the owner of the vehicle.
• The vehicle should be registered.

Takaful Ikhlas Motor Claims Process:

Takaful Ikhlas aims to settle justified claims promptly through standardized procedures in their claims administration.

Their claims process is dependent on the sufficiency of the documentation submitted by the claimant. They also offer a fast claims processing service, which takes approximately 3 days.

Takaful Ikhlas Motor Advantages:

Takaful Ikhlas offers several advantages such as complimentary 24-hour roadside assistance, known as Bantuan Ikhlas, for all policyholders.

They also provide a 10% rebate when you renew online. More than 300,000 participants have chosen Takaful Ikhlas as their preferred motor takaful provider.

Takaful Ikhlas Motor Disadvantages:

Motor takaful does not cover your own death or bodily injury due to a motor accident, damage to tyres unless the vehicle is damaged at the same time, and consequential loss, depreciation, wear and tear, rust and corrosion, mechanical or electronic breakdowns, failures or breakages, equipment or computer malfunction.

Takaful car insurance can be more expensive than conventional car insurance

Takaful Ikhlas Motor Customer Reviews and Ratings:

Takaful Ikhlas has a rating of 3.7 out of 5 based on 488 reviews. The reviews highlight the user-friendly website, convenient and fast renewal process, and the 10% rebate when renewing online.

Takaful Motor Insurance vs Etiqa Motor Insurance:

Choosing between Takaful motor insurance and conventional insurance like Etiqa requires understanding their key differences and how they align with your individual needs. Here’s a comparison to help you decide:

Feature	Takaful Motor Insurance	Etiqa Motor Insurance
Type of Insurance	Sharia-compliant, risk-sharing model	Conventional, backed by company assets
Coverage Options	Similar to conventional (Third-party, Fire & Theft, Comprehensive)	Wide range of options, including highly customized add-ons
Cost	Competitive for basic coverage, Comprehensive might be slightly more expensive	Generally competitive across tiers, additional discounts available
Claims Process	Streamlined online process, mixed user reviews on experience	Established multi-channel process, generally well-regarded
Financial Stability	Healthy financial position of parent companies	Backed by leading financial institution (Maybank Group)
Additional Considerations	Appeals to Sharia-compliant preferences, limited flexibility in add-ons	Wide range of customization options, not Sharia-compliant
Best for	Customers prioritizing Sharia-compliance & risk-sharing, comfortable with limited add-on options	Customers seeking wider coverage choices, personalization, established claims process

Takaful:

• Pros: Sharia-compliant, risk-sharing model, competitive basic coverage.
• Cons: Limited add-on options, mixed claims experience.

Etiqa:

• Pros: Wide range of coverage & add-ons, established claims process, competitive pricing.
• Cons: Not Sharia-compliant, might not prioritize ethical principles.

Which Should You Choose?

If Sharia-compliance and ethical profit-sharing resonate with you, Takaful offers competitive basic coverage, though might limit your add-on flexibility. Opt for Etiqa if a wider range of coverage options and established claims service are crucial, even if it means sacrificing Sharia-compliance.

Takaful ikhlas Motor Insurance Customer Service Phone Number

General Customer Service:

• Phone: 03-2723 9696 or 03-2723 9998 (Monday – Thursday: 8:30am – 5:30pm, Friday: 8:30am – 4:30pm, Closed on weekends and public holidays)
• Email: ikhlascare@takaful-ikhlas.com.my

24-Hour Roadside Assistance (Bantuan IKHLAS):

• Phone: 1-800-88-1186

Website:

• You can access your policy details, submit claims, and find answers to frequently asked questions on their website: https://www.takaful-ikhlas.com.my/

Branches:

• You can also visit one of their branches for personalized assistance: https://www.takaful-ikhlas.com.my/support/our-branches

Final Verdict

Takaful Ikhlas offers comprehensive motor insurance with a variety of coverage options. They have a user-friendly website and a fast claims process.

However, the cost can be higher than conventional car insurance. It’s recommended to compare the coverage and pricing with other insurers before making a decision.

FAQ

What is the procedure of Motor claims?

The claims process at Takaful Ikhlas is dependent on the sufficiency of the documentation submitted by the claimant. The process is made simpler and faster with their GO Serve system. You can submit your claim online and track the progress.

The required documents usually include a completed and signed claim form, a copy of the car registration card, a copy of the driver’s NRIC and driving license, the original police report, and a repair cost estimation prepared by the workshop

Can the participant send his vehicle to any workshop of his choice?

The participant can send his vehicle to any workshop of his choice.

However, if the vehicle is involved in an accident, it is advised to send the damaged vehicle to any of the approved Persatuan Insurans Am Malaysia (PIAM) under the PIAM Repairers Scheme (PARS) Panel Repairers.

How long is the surrender process?

The surrender process involves cancelling the certificate and surrendering the motor certificate and the certificate of takaful to the takaful operator.

If the certificate of takaful is lost or destroyed, a Statutory Declaration is required.

Is online renewal applicable for motorcycles?

Yes, online renewal is applicable for motorcycles as well. They also offer a 10% rebate when you renew online.

Find out the difference between Etiqa Motorcycle Insurance and Takaful Ikhlas Motor Insurance here.

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