What is motor fleet insurance?
A motor fleet insurance policy covers a fleet of vehicles under one policy.
Motor fleet insurance is typically sought out by companies whose business involve managing fleets of commercial vehicles or private vehicles.
Such companies include vehicle rental companies, tour bus operators, courier services companies, companies who provide transport for their employees, etc.
Motor fleet insurance makes business sense because it is cheaper to cover many vehicles under a fleet insurance policy than to insure each vehicle separately.
It is also much easier for a fleet management executive to handle one motor fleet insurance policy than to handle multiple motor insurance policies for the entire fleet of the company.
For standard fleet quotes, fill up the form here and someone will get back to you soon.
How many vehicles in a fleet?
Your company needs to have a minimum number of vehicles with the same registration dates before it can get a motor fleet insurance policy set up.
In Singapore, some insurers need a minimum of 10 vehicles, while some insurers need at least 15 vehicles.
If your company has a smaller fleet with less than 10 vehicles, you probably have to insure each of these vehicles individually under separate motor insurance policies.
We understand that it can be cumbersome to fill up multiple vehicle insurance applications.
For your convenience, we enable you to get quotes for multiple vehicles with just 1 form submission here.
Fleet Insurance Any Authorised Driver
In most cases, the fleet insurance policy is an ‘any driver’ insurance policy.
Under an ‘any driver’ fleet insurance policy, vehicles in a company’s fleet can be driven by drivers who are authorised by the company.
These authorised drivers do not have to be named in the policy but they have to observe and fulfil the terms of the policy.
Unauthorised drivers should not be allowed to drive any vehicle in a company’s fleet.
Motor Fleet Insurance Coverage
Similar to an individual motor insurance policy, the motor fleet insurance policy is also available in these 3 types of plans:
- Third Party, Fire and Theft
- Third Party
No Claim Discounts (NCD) also apply to motor fleet insurance policies.
For private vehicles, the NCD is capped at a maximum of 50%.
For commercial vehicles, the NCD is capped at a maximum of 20%.
Motor Insurance Companies
elloAuto connects you to representatives from financial advisory firms who can help you get motor insurance quotes from multiple motor insurers in Singapore:
AIG Asia Pacific Insurance Pte Ltd
Allied World Assurance Company Ltd
AXA Insurance Singapore Pte Ltd
China Taiping Insurance (Singapore) Pte Ltd
ERGO Insurance Pte Ltd
Etiqa Insurance Pte Ltd
First Capital Insurance Ltd
India International Insurance Pte Ltd
Liberty Insurance Pte Ltd
MSIG Insurance (Singapore) Pte Ltd
NTUC Income Insurance Co-operative Ltd
SOMPO Insurance Singapore Pte Ltd
The Overseas Assurance Corporation Ltd
Tokio Marine Insurance Singapore Ltd