Allianz General Insurance has introduced cash rebates for battery-electric vehicle (BEV) owners who drive fewer kilometres, offering up to 15% back on premiums under a new EV EcoMiles programme launched on Sept 29.
The scheme applies to private BEV owners insured under Allianz’s comprehensive motor policy.
It uses a two-tier structure: customers who average 10,000 kilometres or less a year receive a 15% rebate on the net basic premium (after the no-claim discount), while those averaging 10,001 to 15,000 kilometres qualify for 10%.
Hybrids and plug-in hybrids are excluded; only fully electric cars registered to individuals for private use are eligible.
Chief executive Sean Wang said the plan recognises motorists who have already moved to electric.
“Driving a BEV is already one step towards reducing carbon emissions. Now, whether you’re a remote worker or a weekend-only driver, Allianz EV EcoMiles rewards you even further,” he said.
Enrollment is handled in the MyAllianz mobile app and must be activated within 30 days of the policy start date.
To claim the rebate, policyholders submit odometer readings and photos of the vehicle within 14 days before or after the policy expiry. Once verified, Allianz credits the cash directly to the customer’s bank account.
Mileage is assessed on an average basis using the vehicle’s age rather than the policy period.
For example, a two-year-old car showing 25,000 kilometres equates to 12,500 kilometres a year, placing it in the 10% bracket.
Allianz is also offering a limited sweetener: customers who buy policies between Sept 29 and Oct 31, activate EcoMiles within 30 days and provide valid contact details receive RM100 in public charging credits, redeemable via Yinson Greentech’s ChargEV app.
EV EcoMiles sits within Allianz General’s broader EV Shield coverage, which includes roadside charging support and protection for home charging equipment at no additional cost.
Allianz General reported RM3.42 billion in gross written premiums for the 2024 financial year, reinforcing its position among Malaysia’s largest general insurers.
