Benefits to the riders are fairly straightforward. The insurance part of the deal is provided by Chubb, which covers up to RM100000 on personal accident coverage, including RM2000 for medical costs. This will be on top of the basic insurance coverage of up to RM41800 that Grab already provides its users. On the other hand, the no delay guarantee compensates you with a RM5 Grab voucher if your ride doesn’t reach you within 15 minutes of the estimated time of arrival.
As you’d expect, there are some caveats to the Ride Cover service. First is that it only works if you pay for your rides using GrabPay. And if you opt in for Ride Cover, you’ll have to pay RM0.35 extra for every eligible trip. This is in lieu of an insurance premium. Secondly and most importantly, GrabShare, GrabRent and GrabBike are not covered by this new service. Since Ride Cover is still in its pilot phase, not everyone will get access to it. For those who do, you’ll be able to opt in by tapping on “Insurance” on the Grab app’s home page.
