Commercial Fleet Insurance

1. What are you covered for under Income's Commercial Fleet Insurance policy?

This depends on the type of plan chosen.

A Third Party Only plan is the cheapest car insurance option and only covers damages caused by you to a third party, specifically damage caused to third party property or bodily injury/death.

For Third-Party, Fire and Theft plan, on top of the liabilities included in Third-Party Only plan, you will be covered for loss or damage to your vehicle and its accessories caused by fire, external explosion, self ignition, lightning, burglary, housebreaking and theft.

For Comprehensive plan, on top of the liabilities included in a Third-Party, Fire and Theft plan, you will be covered for loss or damage to your vehicle and its accessories caused by: 

• Accidental collision or overturning
• being hit by a falling object
• Malicious act
• Strike, riot, civil commotion or 
• Flood, typhoon, hurricane, volcanic eruption, earthquake or other natural disaster 

3. What happens if my car is under a hire-purchase or leasing agreement?

Income will pay any cash settlements to the hire-purchase company of your car named in the schedule. 

4. What are the geographical limits coverage (outside of Singapore)?

The policy covers you within the following geographical areas:

• Singapore
• West Malaysia 
• Part of Thailand within 80km from the border of West Malaysia 

5. What is the additional excess for young and inexperienced drivers?

If the vehicle is driven by an authorised driver who is under 27 years old or has a Singapore driving license for less than 2 years, an extra excess of $1,000 will apply. 

6. Can I choose the workshop for repair under Income Commercial Fleet Insurance Plan?

You can choose the workshop for repair under the Comprehensive (Any Workshop) plan. For other plans, our vehicle will be repaired at a workshop chosen by Income.

7. Does Income Commercial Fleet Insurance Plan cover Private Hire Car?

Yes if the Private Hire Car is part of the fleet. For individual Private Hire Vehicle Car Insurance, please click here.

 

InsureDIY is a Broker licensed by the Monetary Authority of Singapore and is an Exempt Financial Adviser. This advertisement has not been reviewed by the Monetary Authority of Singapore.