Commercial/Fleet Insurance
customising insurance needs for your commercial vehicles
You can enjoy more flexibility and choices by customising your motor insurance needs for your commercial vehicles in conjunction with your other corporate insurance policies insured with us, depending on your needs. Alternatively, if your company has 5 vehicles and above, quote them under Commercial Fleet as it covers a wide range of industries and various vehicles and insuring a fleet of vehicles should not be complicated or expensive.
Choice of Coverage:
- Comprehensive (Comp)
– Accidental damage to your vehicle
– Damage arising from riot, strike and civil commotion
– Damage to other parties’ property
– Death or injury to other parties
– Fire damage to, or theft of, your vehicle
– Windscreen damage - Third Party, Fire and Theft (TPFT)
– Damage to other parties’ property
– Death or injury to other parties
– Fire damage to, or theft of, your vehicle - Third Party Only (TPO)
– Damage to other parties’ property
– Death or injury to other parties
What Does It Cover
less hassle
Fleet insurance is easier to keep track of as you will only have one renewal date and one policy to worry about. Vehicles can easily be added or taken off your policy throughout the year!
Ease of administration
There is much lesser paperwork to handle as there is only 1 policy to manage for a fleet of vehicles.
potential lower cost
Insuring your vehicles under a fleet policy will usually work out considerably cheaper than insuring them on an individual basis.
Mixture of vehicles
The commercial vehicles under a fleet policy need not be restricted to the same type of vehicles. They can be a mixture of different types of commercial vehicles.
EXCLUSIONS
There are certain conditions whereby the benefits under this plan will not be payable. You can refer to your policy contract for the precise terms, conditions and exclusions of the plan. The policy contract will be issued when your application is accepted.
IMPORTANT INFORMATION
Policies are yearly renewable, subject to the agreement of the Insurer. Premiums payable for these insurance policies are not guaranteed and may change at Policy Renewal Date at the Insurer’s full discretion.
All benefits and features mentioned herein are subject to terms and conditions of the policy. You must refer to the Policy Contract for the precise terms and conditions of this insurance plan.
Note: Buying a life and/or health insurance policy can be a long-term commitment. An early termination of the policy usually involves high costs, and the surrender value payable may be less than the total premiums paid. You may wish to seek advice from a financial adviser before making a commitment to purchase the product. In the event that you choose not to seek advice from a financial adviser, you should consider whether the product in question is suitable for you.
Policy Owners' Protection Scheme
This policy is protected under the Policy Owners’ Protection Scheme which is administered by the Singapore Deposit Insurance Corporation (SDIC). Coverage for your policy is automatic and no further action is required from you. For more information on the types of benefits that are covered under the scheme as well as the limits of coverage, where applicable, please contact us or visit the GIA/LIA or SDIC websites (www.gia.org.sg or www.lia.org.sg or www.sdic.org.sg).