What Is MMIP - Malaysia Motor Insurance Pool

MMIP is a Motor Insurance Pool established to cater to high-risk drivers. It provides auto insurance to drivers who find it challenging to obtain motor insurance from auto insurance companies due to being tagged as high-risk vehicles. MMIP is an insurance pool of the final resort, and you and your insurance requirement should be rejected by at least two (2) insurance companies declaring you as a high-risk driver.

The MMIP, which stands for Malaysia Motor Insurance Pool, was founded in 1992 and started operations with 2 Insurers acting as Servicing Insurers. However, in 2011, all Insurers and Takaful Operators who are duly licensed and certified to carry out general insurance or takaful business in Malaysia were required by the regulating body to issue MMIP covers. It made the Pool record higher gross written premiums of RM210.5 million in 2011 compared to RM157.7 million in the previous year. The huge growth is mainly credited to the increasing demand for MMIP cover due to the strict underwriting selection of motor insurance by insurance companies.

What Policy Does MMIP Offer?

MMIP is managed by MMIP Services Sdn.Bhd (MSSB), a subsidiary of MNRB Holdings Bhd (MNRB), and the offer both third-party and comprehensive motor insurance packages. However, their complete Policy is only available for cars with existing Hire Purchase Loans. MMIP can be procured from Pos Malaysia; however, it is only limited to motorcycles, private vehicles, town/public taxis, factory buses, stage buses, and school buses.

Where Are MMIP Offices Located?

You can find MMIP offices almost everywhere in Malaysia. From Post Offices to Multi-Purpose Insurances and UniAsia General. So it would help if you did not have any challenge finding their office. However, it would be best to research these companies to determine the nearest office before you set out. Please note that MMIP will not entertain your case unless you show them evidence to support your claim that you could not procure the necessary insurance from the standard insurance market.

What Should I Bring Along?

When going to the MMIP office, you should go along with your previous (original) policy documents, including renewal notices, vehicle registration card, company rubber stamp, and any other documents that show you have been rejected at least twice by insurance companies. Moreover, if your car is a commercial car, you need to bring a copy of the permit and all registration documents and inspection reports from Puspakom. Furthermore, you probably will want to drive you vehicle there because the designated person might insist on inspecting your vehicle. Let's say you could not do so, and you must take pictures of the car with the date and time captured for references.

You would be requested to fill up a proposal form, and If you have made some insurance claims in the past, do remember to disclose the details. The personnel will verify all the information you provided thoroughly, so be prepared to spend some hours there! It would help if you also noted that premiums, loading, and excess are usually not negotiable. The MMIP personnel follow the rule book.

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