Tour Bus Insurance Singapore

Types of Insurance for Tour Buses in Singapore

Commercial vehicle insurance for tour buses is commonly available in 3 types of coverage. Not specific to motor insurance plans from any insurer, the scope of coverage is generally as follows:

Comprehensive Cover
Third Party liability coverage + Fire and Theft coverage + Own Damage coverage

Third Party, Fire and Theft Cover
Third Party liability coverage + Fire and Theft coverage

Third Party Cover
Third Party liability coverage only

Exact coverage definitions and details will differ from insurer to insurer and is subject to its policy terms, conditions and exclusions.

Not specific to motor insurance plans from any insurer, this is what each type of coverage might cover:

• Third Party liability coverage – Expenses which insured party is legally liable to pay for death or injury to third party and / or damage to third party property.
• Fire and Theft coverage – Accidental loss or damage caused by theft or fire, up to market value at time of loss / damage.
• Own Damage coverage – Accidental loss or damage by other insured causes.

For exact coverage definitions specific to your motor insurance, do refer to its policy wordings for accurate reference.

Tour bus operators, especially those with buses that frequently travel to Malaysia, commonly fear about getting into accidents with foreign vehicles because it is very difficult to make successful third party claims against foreign insurers.

Whether such accidents take place in Malaysia or Singapore, these claims can take several years to settle, if they actually get settled.

Oftentimes policyholders end up claiming Own Damage coverage if they have Comprehensive Cover, even if this means affecting No Claim Discounts (NCD) and subsequent premiums.

Policyholders with Third Party, Fire and Theft Cover or Third Party Only Cover will not be able to claim under Own Damage coverage as these policies do not have provision for Own Damage coverage.