Van Insurance
Your commercial vehicle is an essential part of your business. It is important to protect it with the right commercial vehicle insurance plan which not only offers comprehensive protection but is also affordable to keep your business cost low.
Whether you own one vehicle or an entire fleet, whether your motor vehicles are for light or heavy duty, we can offer comprehensive 24-hour protection with your choice of workshop or authorised workshops for accident repairs.
Commercial Vehicle Insurance
Examples of commercial motor vehicles used for product delivery, supply and cargo pickup and other business tasks include:
- Delivery Vans (Small, Medium to Large and Specialised Vans)
- Cargo/Goods Transport Trucks and Lorry Vehicles (e.g. Pick-Up, Tail Lift, Construction, Box, Refrigerated, Flatbed trucks, Cement trucks, Tippers, Lorry cranes, etc.)
- Passenger/Transportation vehicles (e.g. Bus, Coaches, Passenger vans, etc)
- Others: Prime movers, Trailers, etc
Types of Coverage Available:
- Cover of the Motor Vehicle against accidental damage or loss (up to market value at time of accident)
- Cover of the Motor Vehicle against fire or theft (up to market value at time of accident)
- Choice of “Any Workshop” Scheme or “Authorised Workshop” Scheme
- Loss of or damage to the Motor Vehicle due to Flood & Strike, Riot and Civil Commotion
- Legal Liability to Third parties – Property Damage and Bodily Injury
- Legal Liability of Passengers for Acts of Negligence
- Windscreen Coverage
- Accident-related Towing Service
- Cover of the Motor Vehicle against fire or theft (up to market value at time of accident)
- Legal Liability to Third parties – Property damage and Bodily Injury
- Legal Liability of Passengers for Acts of Negligence
- Legal Liability to Third parties – Property Damage and Bodily Injury
- Legal Liability of Passengers for Acts of Negligence
Frequently Asked Questions (FAQS) on Commercial Motor Vehicle Insurance
Third Party Insurance is a mandatory cover under the Motor Vehicles (Third Party Risks and Compensation) Act. All vehicles must purchase and maintain a minimum coverage of Third Party Only insurance (covers liability to 3rd parties) before they can be used on the roads.
The insurance premiums for commercial vehicles are generally higher than private vehicles (all factors being equal). The cost will depend on the below factors:
- Type of coverage required
- Nature of business
- Type of commercial vehicle
- NCD entitlement (No-Claim Discount) and claims history in the last 3 years
Most insurers will also cover West Malaysia and parts of Thailand within 80km of the border between Thailand and West Malaysia. For the exact geographical area, please refer to the policy contract.
The full list of exclusions is contained in the policy contract. Below are some common exclusions:
- Wear and tear
- Mechanical or electrical breakdowns or failure of breakages
- Vehicle used for hire or reward, road rally pace making, speed testing or any purpose related to the motor trade
- Driver under the influence of alcohol or drugs
- Vehicle is not driven by an authorised driver(s)
- Vehicle is driven by any person not permitted to drive under licensing or other laws or regulations
- Vehicle is not used in connection with policy owner’s business
To request for a quotation please fill up this form.
CALL US
96522277
Address
5008 Ang Mo Kio Ave 5, #04-09 Techplace II, Singapore 569874
enquiry@quotefirst.com.sg