+65 8823 8181
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369610, Singapore
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Motor Fleet Insurance
- Covers all vehicles under a single policy, simplifying administrative tasks and reducing costs.
- Legal liability of passengers
- Fleet discount
- Own vehicle damage
How it works
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Why Motor Fleet Insurance ?
A motor fleet insurance policy covers a fleet of vehicles under one policy, with a single renewal date for administrative convenience. Motor Fleet Insurance protects businesses from compensation claims from third parties as a result of a motor accident. These third party claims could be in the form of financial compensation for injury or property damage for a third party.
Key Benefits
Legal Liability of Passengers
- Covers insured’s legal liabilities for injury and property damage.
Fleet Discounts
- Can claim up to 20% discount.
Own Vehicle Damage
- Loss of damage to insured’s own vehicles.
Competitive Premium
- Attractively priced in the market, striking a balance between affordability for customers and profitability for the insurer.
Administrative Convenience
- Ease and efficiency with which administrative tasks and processes are carried out within an organization.
Efficient Loss Ratio Management
- Some policies offer refunds when the loss ratio is effectively managed.
Frequently asked questions
Motor Fleet Insurance is typically sought out by companies whose business involve managing fleets of commercial vehicles or private vehicles under a single policy.
1) It has the flexibility to add or remove cars from the policy.
2) Since all the vehicles in the policy share the same expiry date, the premium is payable (for an additional car) or refundable (for removal) on a proration basis.
3) Efficiency is one of the main advantages when managing a fleet of vehicles with a single policy.
4) No NCD required
Fleet insurance does not offer a No Claim Discount (NCD) for not claiming the insurance., but If the claim amount is high, the insurer may impose a premium loading upon renewal that will affect all the vehicles in the fleet.
A fleet of vehicles is do not need hundreds! The minimum quantity of vehicles usually starts at ten and go up into the thousands.
To make a motor fleet insurance claim, simply call +65 8823 8181 or send us an email to [email protected]
Either enter your details into our online quote form or call us at +65 8823 8181 to find the right policy.
Loss ratio management refers to the practice of effectively controlling and optimizing the ratio of losses incurred by an organization to the premiums earned. It involves strategies and techniques aimed at minimizing losses, maximizing profitability, and maintaining a healthy financial position.
To access more detailed information, kindly click the following link Click here for further information.