Running a business fleet without commercial motor insurance Singapore can expose your company to severe financial losses. From accidents to cargo damage and liability claims, one uninsured incident can derail operations and cash flow.
This step-by-step guide explains what commercial motor insurance covers, available add-ons, and the seven stages of a claim process, so your fleet stays fully protected and compliant.
1. What Commercial Motor Insurance Covers
Commercial motor insurance protects vehicles used for business operations, including delivery vans, lorries, buses, and private-hire fleets.
Standard coverage typically includes:
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Own damage: repair or replacement cost for your vehicle.
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Third-party liability: legal liability for injury or property damage.
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Fire and theft: loss from fire, theft, or attempted theft.
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Windscreen damage: partial coverage for cracks or shattering.
A tailored policy from a licensed broker like PCMI ensures your business vehicles remain protected under all local regulations. Learn more from commercial vehicle insurance vs regular motor insurance for a deeper comparison of coverage levels. well-structured commercial motor insurance Singapore plan helps fleet owners manage risks efficiently while staying compliant with Land Transport Authority (LTA) regulations.
2. Policy Limits and Key Add-ons
Policy Limits
Every policy comes with defined limits for repairs, replacement, and liability. Businesses should assess these based on:
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Vehicle market value and depreciation
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Cargo type and delivery frequency
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Employee driving patterns and distance coverage
Recommended Add-ons
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Loss of Use Cover: compensates downtime while a vehicle is being repaired.
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Personal Accident Cover: protects drivers and passengers.
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Fleet Bonus Protection: preserves discounts even after minor claims.
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Cargo or Goods-in-Transit Cover: extends protection to merchandise during delivery.
Integrating these add-ons through PCMI’s commercial motor insurance ensures your business doesn’t suffer downtime or unplanned expenses after an incident. Businesses that regularly update their commercial motor insurance Singapore policies enjoy smoother renewals and better claim turnaround times.
For additional insights, review commercial car insurance hidden costs to understand common premium pitfalls.
3. The 7-Step Commercial Motor Insurance Claim Flow
The claims process under commercial motor insurance Singapore is straightforward if you follow the correct procedure from the moment of an accident. When an accident occurs, following these seven steps helps secure a faster and smoother claim:
Step 1: Ensure Safety First
Move vehicles to a safe location and check for injuries. Call emergency services if necessary.
Step 2: Collect Key Details
Gather the other driver’s information, witness contacts, and vehicle registration. Take clear photos of the accident scene.
Step 3: File a Police Report
A report is mandatory for serious injury, third-party damage, or hit-and-run incidents. Submit it within 24 hours.
Step 4: Notify Your Broker or Insurer Immediately
PCMI’s claims team assists clients from the first call. Early notification ensures claim eligibility and accelerates the approval process. Explore their motor insurance claims guide for documentation tips.
Step 5: Send Your Vehicle for Approved Inspection
Use an authorised workshop for assessment. Non-approved repairs can invalidate parts of your claim.
Step 6: Submit Claim Documentation
Provide the police report, repair quotation, photos, and incident statement. PCMI can handle this on your behalf to reduce administrative errors.
Step 7: Claim Evaluation and Settlement
Most insurers in Singapore process verified claims within 30–45 working days. Delays often result from incomplete documents or missing reports.
4. Common Exclusions to Watch Out For
Even the best commercial motor insurance Singapore plans exclude certain situations:
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Unlicensed or underage drivers
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Drunk driving or reckless operation
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Use of vehicles outside declared business purposes
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Wear and tear, mechanical failure, or depreciation
Reviewing exclusions during renewal with PCMI prevents future disputes and ensures your coverage matches your operational risks.
For more context, see commercial vehicle insurance fleet management tips for proactive risk reduction.
5. Why Work with a Licensed Broker
A MAS-licensed insurance broker like PCMI compares policies from multiple insurers, negotiates better terms, and manages claims for you. Their insurance claims services give businesses confidence during complex claims or disputes.
Conclusion: Keep Your Business Moving Confidently
In today’s fast-paced logistics landscape, commercial motor insurance Singapore is a vital shield against financial and operational risks. From add-ons to structured claim flows, a well-managed policy keeps your fleet on the road and your business thriving.
Whether you operate a single van or a nationwide fleet, reviewing your commercial motor insurance Singapore annually helps close coverage gaps and prevent costly disputes. To review your fleet coverage or get a claim audit, chat with PCMI on WhatsApp and speak with an insurance adviser today.
