Saturday, November 07, 2009

Day +1221 : Negligence saves money :-)

I am fine today.

Last Wednesday, I noticed that the date on the road tax sticker on the company car that I am using was 16 January 2009. This means it was expired for almost 10 months. Fortunately, I was not caught; else the penalty could be heavy.

I called an insurance agent to buy third-party insurance but I was told that very few insurance companies are willing to offer third-party insurance alone. Most of them mandated the car owner to purchase PA insurance together with third-party insurance. I had not much choice but to accept this arrangement, paying RM115 for third-party insurance and RM136 for PA insurance.

After purchasing the insurance, I renewed the road tax through MyEG Services and the amount that I paid was RM765.75 :-( It was so expensive because the car was registered under the company. The road tax will be a lot cheaper for personal car. I should request the company to transfer the ownership of the car to me; else I have to pay this amount again next year.

The total amount I paid for both insurance and road tax was RM1015.75 :-(

Initially, I was a bit reluctant to pay this amount but when I think of the amount that I save due to the negligence, I am happy again :-)

Then how much do I save? 10 months of insurance and road tax, which is roughly equal to RM800(RM1015.75x10/12) :-)

Negligence saves money but don’t ever try this. Luck might not be on your side :-)

See you next post :-)

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