1. The Policyholder is the registered owner and is required to have Hire Purchase Loan for the purchase of the Insured Vehicle.
2. The Insured Vehicle must be sold by a BMW Authorised Dealership registered in Malaysia.
3. BMW Return To Invoice Insurance must be purchased within 90 days upon the purchase of the vehicle.
4. BMW Return To Invoice Insurance policy tenure is for a period of 3 years and is non-transferable to any other person or operate for any other vehicle.
5. In the event of Total Loss, BMW Return To Invoice Insurance will pay for the financial shortfall between the Original Purchase Price of the Vehicle and the higher of:
a. The claims settlement amount received by the Policyholder from the Comprehensive Motor Insurance Policy; or
b. The Market Value of the vehicle.
6. Notwithstanding the above, in the event the Vehicle is classified as a Total Loss within the first twelve (12) months of the Period of Insurance of this BMW Return To Invoice Insurance Policy, only the total premium paid under the Policy shall be refunded to the Policyholder and the Policy shall be deemed terminated.
7. Maximum claim payout shall not exceed the BMW Return To Invoice Insurance sum insured.
8. The description of the available cover is only a brief summary for quick and easy reference. The precise terms, benefits, conditions and exclusions that apply are stated in the Policy.
Terms and conditions apply. BMW Return To Invoice Insurance is underwritten by Allianz General Insurance Company (Malaysia) Berhad. 200601015674 (735426-V).