Usually, car owners want to keep the premium as low as possible. Therefore, they tend to ignore the benefit (additional coverage) which requires 'additional premium'.
Special Peril is one of the additional coverage most car owner do not aware (yet).... basically it covers the act of nature, e.g. floods, typhoons, tsunamis, hurricanes, storms, volcanic eruptions, earthquakes, landslides, landslips, subsidences or sinkholes, earth or other convulsions of nature.
In 2012, statistic from PIAM showed only 0.4% of the motor policy took on the Special Peril cover.
Many car owners only aware that their have to bear the loss when car damaged by flood or storm, which can be a big hit to their financial, just like what has happened recently in East Coast in year 2013.
How much is the 'additional premium'?
It costs 0.5% of the Sum Assured. If your car's market value is RM40,000 then the premium (NCD not applicable) is RM200 only.