Grab Malaysia Introduces The Region’s First Daily Insurance Plan
Today, the folks at Grab Malaysia has unveiled a new usage-based motor-insurance and takaful for e-hailing drive-partners in the country with Grab Daily Insurance (GDI). The insurance is specially designed in partnership with 14 insurers as well as takaful operators in Malaysia.
It is reported that 80% of Grab driver-partners are part time drivers and with new e-hailing regulations require them to purchase a e-hailing insurance/takaful, which may cost up to RM400 to RM500 upfront for the year. It looks like Grab aims to address the issue by offering GDI as an affordable option.
GDI allows drivers to opt-in for daily coverage while deducting from their GrabPay Credit wallet. Those who are interested in the plan will need to pay for it when they come online and will be valid for 24 hours. All rides within the period will be covered by the e-hailing insurance.
There’s no minimum trip requirement per day and the policy covers loss or damage to vehicles, liability to passengers and third-parties, as well as personal accident coverage for when they operate as a driver with Grab. As for the amount of payment, that varies depending on the driver’s Motor Insurance/Takaful provider, ranges between RM1 to RM2 daily.
For more information on Grab Daily Insurance as well as their panel of insurers, you can check out the link right here.
Pokdepinion: I guess in a way it saves drivers some money, especially for those who do part-time and don’t drive everyday.