We offer insurance for vehicles used for commercial purposes that is registered under a company, covering vehicle types like Lorry, Station Wagon, Pickup, Vans and Refrigerated Vehicle. Excluding vehicles that are used for hire, such as Grab or Uber used cars.
Commercial Vehicle Insurance can be offered if you are the main driver of the Vehicle and it is registered under your own name or a company which is owned by you. You or any additional drivers need to be a Singapore resident, possessing a valid NRIC/FIN or a registered company with a valid Company or Business Registration Number . You as The Insured have never been refused, declined renewal or terminated for vehicle insurance by any insurers. No driver should have any class of license suspended or cancelled in the last 3 years. The vehicle needs to be registered in Singapore and any modifications needs to be LTA compliant. All drivers should not have made against the insurance more than 2 claims or a total claim amount exceeding $30,000 against any insurer in the last 3 years.
These three types provide different coverage level:
Excess means that in respect in respect of each and every financial damage event, you shall be responsible for the first amount stated under “Excess” in the Schedule of the Policy. For instance, if the damage to your windscreen costs $1,000 to replace and your excess states $100 for windscreen replacement, you will be responsible for the first $100.
In the event of an occurrence to the insured vehicle resulting in a valid claim, drivers aged under 27 and/or who has held a full driving licence for less than 2 years, or who is above the age of 75, an additional excess of S$4,000 (Section I only) will be imposed on top of the policy excess.
Other than Singapore, you are covered in West Malaysia and in Thailand that is within 80 kilometres of the border between Thailand and West Malaysia.
An additional excess of $2,000 will be imposed on top of the policy excess if vehicle is stolen whilst driven outside of Singapore.
Yes, you may get your vehicle repaired at your preferred workshop at no additional charge or premium cover.