Can You Pay Car Insurance Monthly in Malaysia? Get Up to RM50 Off with PolicyStreet x PayLater by Grab
Summary: You can pay for car insurance in instalments in Malaysia using selected payment services. With PolicyStreet x PayLater by Grab, eligible customers can split their payment into up to 12 instalments and receive RM50 off when they spend at least RM500 and use the promo code PL50PS, subject to the campaign terms and conditions.
Renewing car insurance usually means paying the full annual premium in one go. If your car insurance renewal date falls during a month packed with other expenses, that lump–sum payment can feel quite heavy.
The good news is that selected payment options now let you pay for car insurance in instalments. Through the PolicyStreet x PayLater by Grab campaign, eligible Malaysian drivers can spread out the cost while enjoying RM50 off their car insurance.
Here is how the car insurance monthly payment option works, who can use it, and what you should check before choosing an instalment plan.
Can You Pay Car Insurance Monthly in Malaysia?
Yes. You can pay car insurance monthly in Malaysia if the insurance platform or payment provider offers an instalment option.
However, this does not usually mean you are buying a new car insurance policy every month. Malaysian car insurance is generally issued as an annual policy. An instalment option means the insurer receives payment for the policy, while your payment provider allows you to repay the amount through scheduled instalments.
In simple terms:
Your car insurance coverage remains annual.
Your insurance premium is divided into smaller payments.
The repayment schedule is managed by the payment provider.
Approval depends on the provider’s eligibility and the car owner’s credit assessment.
This car insurance monthly payment option can help you manage cash flow without delaying an important renewal.
Want to understand what affects your car insurance premium? Read our guide on what raises your car insurance premium in Malaysia.
Can You Pay Car Insurance in Instalments?
Yes. Depending on the checkout options available, you may be able to pay for car insurance in instalments using a credit card instalment plan (EPP/IPP), Buy Now Pay Later (BNPL) service, instalment loans, or merchant-invoiced instalments.
With PolicyStreet x PayLater by Grab, PolicyStreet customers can enjoy BNPL service when they renew car insurance through the PolicyStreet website and select PayLater by Grab during checkout, subject to Grab’s eligibility requirements and product availability. Eligible users may receive an instalment plan of up to 12 months.
Before proceeding, review the repayment details carefully. A smaller monthly payment can be easier to manage, but it still forms part of your overall financial commitments.
Manage your financial commitments more effectively with our guide on the practical ways to reduce your car insurance premium.
What Is the PolicyStreet x PayLater by Grab Promotion?
The PolicyStreet x PayLater by Grab car insurance promotion lets eligible customers enjoy RM50 off their car insurance when they fulfil the campaign requirements.
The promotion details:
Discount: RM50 off
Minimum purchase: RM500
Promo code: PL50PS
Payment method: PayLater by Grab
Campaign period: 15 August 2026 to 31 October 2026
Redemption limit: One (1) redemption per customer per device monthly
Total availability: Limited to 600 redemptions
The promotion is available on a first-come, first-served basis. It may end earlier if all 600 redemptions have been claimed.
The discount cannot be combined with another promotion or exchanged for cash or any other form of rewards.
How to Get RM50 Off with PolicyStreet x PayLater by Grab
Follow these steps to redeem the car insurance promotion:
Step 1: Visit PolicyStreet
Go to the PolicyStreet website and enter the required vehicle and personal details to receive your car insurance quotations.
Step 2: Compare Car Insurance Plans
Review the available car insurance quotations and compare their premiums, coverage, and optional add-ons. Do not choose a car insurance policy based only on price. Check whether the coverage matches the risks you want protection against.
Not sure where to begin? Our guide to comparing car insurance in Malaysia explains what to look for in a car insurance policy.
Step 3: Select Your Preferred Policy
Choose the car insurance policy that suits your needs. Your total purchase must be at least RM500 to qualify for the RM50 discount.
Step 4: Choose PayLater by Grab
Select PayLater by Grab as your payment method at the checkout page. You must have an active Grab account and be eligible to use PayLater by Grab.
Step 5: Enter the Promo Code
Enter the promo code PL50PS on the PayLater by Grab payment page. Check that the RM50 discount has been applied before confirming your transaction.
Step 6: Review the Instalment Plan
Check the number of instalments, repayment dates, total payable amount, and any applicable fees. Complete the payment only after you agree with the terms and conditions shown.
What Should You Consider Before Paying Car Insurance in Instalments?
Before choosing an instalment plan for your car insurance renewal, consider the following factors to make sure it suits your financial situation.
Your Monthly Budget
Make sure the instalment amount fits comfortably into your regular budget. Remember to account for rent, bills, loans, and other commitments.
Total Repayment Amount
Check how much you will pay in total after fees and discounts. A smaller monthly payment does not always mean a lower overall cost.
Your Payment Schedule
Know when each instalment is due and ensure enough funds are available. Missed payments may result in charges or affect your access to the service.
The Coverage You Need
Do not reduce important protection simply to lower the monthly instalment. Depending on your situation, you may still need add-ons such as Special Perils, windscreen coverage, or All Drivers coverage.
Learn more in our guide on useful car insurance add-ons for Malaysian drivers.
Your Road Tax Renewal
If you renew road tax together with your car insurance through PolicyStreet, the road tax will be processed digitally according to current JPJ requirements.
Provided no further approval is required from the insurer, your policy and/or digital road tax should be issued within one working day for purchases completed during working hours, or by next working day for purchases made outside working hours.
Pay for Car Insurance in Instalments with PolicyStreet
Paying your annual car insurance premium in one lump sum is not always convenient. With PolicyStreet x PayLater by Grab, eligible customers can compare car insurance options, divide their payment into up to 12 instalments, and receive RM50 off with a minimum spend of RM500.
Visit PolicyStreet, compare quotations from multiple insurers, and choose coverage that fits your needs. At checkout, select PayLater by Grab and apply PL50PS to claim the discount before the campaign ends or once all redemptions are fulfilled.
Pay for Car Insurance in Instalments with PolicyStreet
1. Can I pay car insurance monthly in Malaysia?
Yes. Selected platforms and payment providers allow eligible customers to divide an annual car car insurance payment into monthly instalments. The standard car insurance policy itself is generally issued for one year, but some insurers also provide an option for a 6-month policy.
2. Can I pay for car insurance in instalments?
Yes, if an instalment payment method is available at checkout and you meet the provider’s requirements. PolicyStreet customers can select PayLater by Grab, subject to eligibility and availability.
3. How does monthly car insurance payment work in Malaysia?
You purchase an annual car insurance policy, while the payment provider divides the cost into scheduled repayments. Your instalment agreement is managed separately by the payment provider.
4. Can I use PayLater by Grab to pay for car insurance?
Yes, you can select PayLater by Grab when renewing car insurance through the PolicyStreet website. You need an active Grab account and must meet PayLater by Grab’s requirements.
5. How can I get RM50 off car insurance with PolicyStreet x PayLater by Grab?
Spend at least RM500 on car insurance through the PolicyStreet website, choose PayLater by Grab and enter PL50PS on the PayLater by Grab payment page. The promotion is subject to its redemption limit and campaign period.
6. Who is eligible for the PolicyStreet x PayLater by Grab promotion?
The campaign is open to PolicyStreet customers who meet the RM500 minimum purchase requirements and are eligible for PayLater by Grab. It applies to all car years, makes, models and variants.
7. Is paying for car insurance monthly more expensive?
It depends on the fees and conditions attached to your instalment plan. Review the total payable amount and repayment schedule before completing your purchase.
8. How many car insurance instalments can I choose?
PayLater by Grab offers three instalment plans: 4, 8, and 12 instalments. Choose the plan that best suits your budget and financial commitments. Explore the available plans and rewards on the Grab website.
