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Fleet insurance is commonly use by organisations that own a myriad of vehicles (a minimum of 5 or more or even a mixture of types of vehicles) for trade purposes, however this may be also suitable for you as well if you simply own and drive several vehicles personally. There are many aspects that you can gain from fleet insurance – and one of the major benefits is that you are able to save a lot of time on the cumbersome administrative work (including all the inconvenience and burden!) in managing all the numerous policies as all the vehicles are administered under one sole policy. Just imagine how tricky it will be to handle this should you own 20 vehicles and each of them is kept under a separate policy with their own respective insurance renewal dates and unique benefits etc.

Another important aspect is that the claims procedure is more straightforward and efficient for vehicles warranted under fleet insurance policy vs a vehicle insured on its own. Also, a fleet insurance policy also allows for vehicles that cannot be indemnified on an individual basis (due to certain reasons), to be insured collectively as a whole. This will immensely add on to the past history of each vehicle and this will aid in getting a standalone policy in future, should the need arises. Last but not least, premiums will typically be lower for a fleet insurance policy as compared to premiums all added up from independent policies as risks from all vehicles are averaged out in one single policy.

Correspondingly, the considerations of getting fleet insurance for your vehicles are similar to of those when issuing and underwriting a single commercial vehicle insurance cover. The insurers will consider the car type, number of vehicles to be insured, age and condition of vehicles, past history and experience of the driver(s) when calculating the premiums.

icon-quote-left If the vehicles are used in your business to transport goods to customers, be reminded to get other insurance that will compensate the loss or damaged goods in the event of a mishap. On the whole, insurers do include such preferences in their fleet insurance policies. Do contact us for more information. icon-quote-right

Choosing to engage us will provide you a number of covers, which include the following:

icon-check-circle Quality repairs upon breakdown during an accident

icon-check-circle Manufacturer warranty protection

icon-check-circle Protection with unlimited liability cover for 3rd party injuries

icon-check-circle Third party property damage cover

icon-check-circle Peace of mind with 24-hour emergency hotline service in Singapore

icon-check-circle Windscreen Cover with automatic reinstatement

icon-check-circle Protection for your car key

icon-check-circle Cover for liability to your passengers

icon-check-circle Cover for third party liabilities caused by negligence of your passengers

icon-check-circle Cover for loss or damage directly caused by an intentional act of a party during a strike, riot, or lockout

Assuming you are the insured and have faced an accident, under the Motor Claims Framework (MCF), these are the basic guidelines you should follow:

icon-phone-square Make sure to receive and provide information such as your name, NRIC, phone number, address, and insurer to all the involved parties

icon-camera Be sure to note the vehicle number of the other party

icon-edit Take digital photos of the accident scene and vehicle in case you want to file an e-report later.

icon-paperclip You may need a tow truck so be sure to have your insurer’s 24 hour hotline number at hand.

icon-wrench You will have to take your accident vehicle to the authorized workshop within 24 hours, regardless of whether it’s damaged or not.

In case you, the insured party, fail to report the accident vehicle, you may find yourself in a position of having to claim prejudice later. Noncompliance of this policy can result in loss of No Claim Discount (NCD) upon policy renewal.

Once your car is repaired, the workshop will normally require the insured to check the vehicle and sign a ‘satisfaction repair discharge form’ before releasing the car to the insured. If there are any excess charges, they would have to be paid by you (the insured).

icon-comments-o The biggest difference between the both is that motor trade policies is only available to businesses whose principal activities relate to those of dealing with vehicles such as car dealers/repairers unlike fleet insurance which is open to all business types and even extends to individuals.

icon-quote-left The general criteria to qualify for motor trade insurance and fleet insurance is to own a minimum of 10 vehicles or more. However, due to competition in the market, a few insurers have lowered this benchmark to accepting a smaller number of vehicles such as 5. icon-quote-right

As such, the coverage of both policies may also vary as the targeted needs are different. Motor trade insurance is inclined to take care of third party’s interests such as customers or potential clients etc as a car dealer usually has an oscillating number of vehicles with them but may belong to the customers or other parties.
If you want to make sure your cars are protected in every possible way, you’re eventually going to have to decide on an insurer. Choosing us as your insurance provider could be one of the best choices you end up making for these particular reasons:

1. We have been working with representatives from reputable insurers with highly qualified professions to help you every step of the way, from reviewing your profile to helping you choose the best insurance plan for you!

2. We have been in the field long enough to know most of the insurance companies in Singapore, and can provide you with numerous, top quality quotes on prices and products

3. We allow you the opportunity to speak to different consultants as per your convenience so you can be most satisfied with your final decision.

4. We guarantee quality customer satisfaction

5. Claim support is available at your fingertips

As mentioned above, some of the insurers are:

icon-star AVIVA Ltd
icon-star AXA Insurance Singapore Pte Ltd
icon-star AIG Asia Pacific Insurance Pte Ltd
icon-star China Taiping Insurance (Singapore) Pte Ltd
icon-star EQ Insurance Company Ltd
icon-star Liberty Insurance Pte Ltd
icon-star MSIG Insurance (Singapore) Pte Ltd
icon-star NTUC Income
icon-star Overseas Assurance Corporation (OAC)
icon-star QBE Insurance (International) Limited
icon-star RSA – Royal & Sun Alliance Insurance Plc
icon-star Tokio Marine Insurance Singapore Ltd.

We have more than hundreds of satisfied clients that can vouch for us!

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