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Allianz Rolls Out Cash Rewards for Low-Mileage EV Drivers

Allianz General Insurance Company (Malaysia) Berhad has introduced a new way for electric vehicle (EV) owners to turn their green habits into extra cash. Through its newly launched Allianz EV EcoMiles programme, policyholders who drive fewer kilometres in their Battery Electric Vehicles (BEVs) will be rewarded with up to 15% of their insurance premiums back in cash.

The programme is available to those who insure their BEVs under the Allianz Private Car Comprehensive policy for private use. Once activated via the MyAllianz app, customers can start earning tangible rewards simply by driving less.

Allianz General’s Chief Executive Officer, Sean Wang, said the idea behind EcoMiles was to back customers who have already made the switch to electric by recognising their eco-friendly driving habits. He explained that driving a BEV is already a step towards lowering carbon emissions, and with EcoMiles, those who use their cars sparingly—whether working from home or just driving on weekends—will be rewarded even more.

The initiative is designed to encourage sustainable lifestyles while giving something back to drivers who contribute to reducing their carbon footprint. According to Allianz, customers driving up to 10,000 kilometres per year will receive 15% of their net basic premium as cash, while those covering between 10,001 and 15,000 kilometres will get 10%. The net basic premium refers to the premium amount after the No Claim Discount (NCD) has been deducted.

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Tune Protect Malaysia enhances Pay-As-You-Drive (PAYD) eligibility criteria

PAYD (Pay-As-You-Drive) is an opt-in feature of Tune Protect Malaysia`s Motor Insurance plan which rewards car owners who have low mileage with a refund of the basic premium paid. It was introduced in August 2019 in support of a greener environment, helping reduce urban stress of commuting on roads, and to encourage the use of public transportation such as LRTs and MRTs in easing road congestions in the country.

Tune Protect Malaysia recently enhanced PAYD eligibility criteria as more Malaysians have embraced the work-from-home (WFH) practice, by extending the eligibility age of insured (vehicle owners) to 65 years and age of vehicles to 10 years.

More drivers can enjoy benefit
This enhancement is expected to benefit more drivers and enable a wider segment of vehicle owners to enjoy the benefits of PAYD. Acknowledging the fact that more people are working from home, Tune Protect Malaysia believes that those who drive less should be aptly rewarded by paying less premiums than the frequent drivers.

LRT station carpark — *Those who use public transport more and drive less can be rewarded with refunds on their insurance policy.*

Private car owners who are between the ages of 28 and 65 years and who own vehicles aged between up to 10 years old with sum insureds ranging between RM40,000 to RM300,000 will be qualified to opt-in for the PAYD benefit when purchasing to Tune Protect Motor insurance.

Refunds based on mileage
Following a tier system, customers will get to enjoy a 20% refund on their basic motor insurance premiums if their mileage usage is between not more than 6,000 kms, with a 15% refund if it falls between 6,001kms and 8,000 kms at the expiry of the policy. The No Claim Discount (NCD) typically offered for not making any compensation claims during the year will still apply as PAYD is a complementary plan that is free of charge.

The plan operates by referring to the vehicle’s mileage data that is recorded from the odometer, stating the kilometres driven to-date. Customers who opt-in for PAYD will receive a personalised URL link via SMS and email to submit photographs of their vehicle’s odometer reading thrice during the duration of the year. These submission points are at the inception of the motor insurance policy, 180 days after inception, and at the point of expiry.

“We received a lot of positive feedback from vehicle owners when we first introduced PAYD including requests to expand its eligibility criteria so that more car owners can enrol and benefit from this feature,” said William Foo, CEO of Tune Protect Malaysia. “We are delighted to be able to fulfil these requests and quite timely in this new normal where more and more individuals have adopted to the WFH arrangement permanently. We want to offer the opportunity for people to enjoy the benefits earned from their everyday lifestyles.”

Covid-19 — Fighting COVID-19 is our joint responsibility. Protect yourself and others: make these 6 simple precautions your new habits.

Ferrai 575M Maranello with low mileage to go under the hammer

Several important classics and modern sports cars will go under the hammer at Coys auction, which incidentally will take place not far from Goodwood, in the gardens of Fontwell House on 29th June 2017.

One of the few cars worthy of mention, is a pre-production Ferrari 575M Maranello, a perfect example of an Italian Grand Tourer. It is considered one of the earliest pre-production cars made by Ferrari and carries the chassis number 123761. It was manufactured in 2002 but was never sold by the automaker until much later. In fact, it was kept in storage for a few years after being used for marketing and other promotional purposes.

It was only registered in 2006 and sold a couple of years later as a new car by the automaker to a VIP client. In total, the car has just 13,000km on the odometer and comes with a comprehensive paperwork to support the history of work/maintenance that was conducted on it as well as the original manuals. It is estimated that the car might fetch about £150,000 (RM836,205) to £200,000 (RM1,114,940), which is a lot of cash considering what that same amount of money can get you with newer sports cars.

Speaking of the Ferrari, Chris Routledge, CEO of Coys, said, “Coys are delighted to return to Fontwell House for a now-regular feature in our busy auction calendar. Just miles away from the action at the Goodwood Festival of Speed, enthusiasts and collectors will find at Fontwell House a fabulous selection of classic, sports and racing cars, including this pre-production Ferrari 575MM which represents a piece of Ferrari history and would be a valuable addition to any collection.”

The Ferrari 575M Maranello was the follow up model of the relatively identical 550 Maranello (style wise) safe for minor tweaks by Pininfarina. Compared to the 550, 575M had a different interior, bigger brake discs, a larger and more powerful engine, different weight distribution, improved aerodynamics, adaptive suspension setup, as well as a number of others.

Under the hood was a 5.7-litre naturally aspirated V12 engine that was either mated to a 6 speed manual or 6-speed eletrohydraulic gearbox. That coupled with a 1,853kg kerb weight, allowed the 575M to accelerate to 100km/h from a standstill in 4.2 seconds and reach a top speed of 325km/h.

The car was produced from 2002 to 2006 and was eventually superseded by the Ferrari 599 GTB Fiorano, which features more sophisticated electronics, bigger and more powerful engine, as well improved driving dynamics.

Mercedes-Benz R107 in pristine condition is up for sale

Collectible classic cars are always in demand especially those that have been persevered for decades but look as though they had just rolled off the showroom floor. One such car is a 1989 R107 Mercedes-Benz 500 SL with only 1538km on the odometer. Considering that this particular Merc is close to 30 years old, the mileage says a lot about how often it was actually taken out on the road.

This right-hand drive example of the R107 is said to be one of the last ones ever built and was replaced by the R129 series the very same year. Launched in 1971, the R107 was based on the E-Class W114 sedan but utilized larger and more powerful engines from the S-Class. It is the second longest running model in the company’s history and was a favorite among those who wanted a refined luxury vehicle but with the brute power of a sports car. This particular car has a 5.0-litre V8 that produces 242bhp.

Built at a time when Mercedes-Benz engineers were obsessed with perfection, this over-engineered vehicle features “Tempomat” cruise control, air-conditioning, green-tinted sun-deflecting glass, heated seats and a separate hardtop . Amazingly, it still has its original tool kit, book pack and two hardtop release handles.

The car is currently being put up for sale by London classic car retailer Hexagon and is touted as the best example of the R107 Merc in the world right now. The car is being offered with a price tag of £94,995 (RM521,969) at Hexagon Classics’ showroom in London. The lucky buyer will definitely be getting his money’s worth with this R107.