Federal Auto Insurance Now Available
As many will have noticed, competition among car companies is increasing. Among the luxury makes, the change of status of local companies which had been holding the lucrative distribution rights for many years has forced these companies to take a different approach to their business now that they are dealers. Add to this tougher environment is the fact that the principals who now handle distribution and marketing are pushing their dealers harder and promoting ‘healthy’ competition among them in the interests of raising the standards of services to customers.
Federal Auto Holdings Bhd (FAHB), which has handled the Volvo franchise since the 1960s, has been rapidly reorganizing itself to this new situation and also looking at ways to draw customers to it. No longer is it the only place to buy Volvos in KL as there is also a new dealer group, Swedish Marque, which has the backing of the Singapore-based Wearnes Group.
As an indication of FAHB’s determination to be innovative in the car retail business, it has introduced its own brand of car insurance, the first car company to do so in Malaysia. Federal Auto Insurance (FAI), as it is known, is said to eliminate the time and the hassle associated with finding an insurance company and sets FAHB on its desired path to be a one stop shop for all automotive services.
“Federal Auto Insurance is very customer-centric. Its competitive edge is the long list of benefits it offers to alleviate the stress associated with breakdowns and accidents,” explained FAHB Managing Director Mohamed Ashraf Iqbal, adding that FAI meets the company’s product criteria of convenience, competitiveness and care.
Those who buy FAI, which was conceived in collaboration with PanGlobal Insurance, will certainly get pretty valuable benefits, rarely found in motor insurance policies. For instance, if a new Volvo car is stolen or written off within the first six months of purchase, the FAI policy provides for a replacement with a Volvo car of the same value. In the event of a breakdown or accident, the policyholder is also entitled to a courtesy car from FAHB for two days.
Other benefits include payment in 12 interest-free monthly installments by credit card and free roadtax renewal service. If a claim is not processed within 10 working days of all required paperwork being submitted, there will be a waiver on the next year’s FAI policy renewal fee.
For the individual, FAI offers free personal accident cover, a ‘Feng Shui For Motor’ kit retailing at RM88, a free gift to the value of RM100 and free registration to enjoy great savings on IDD/STD phone calls. Owners of all new Volvo cars covered by FAI will get full membership of the PanGlobal Club, a membership which is valued at RM3,300. The PanGlobal Club is equipped with the latest fitness and active lifestyle facilities.
