Frequently Asked Commercial Vehicle Insurance Questions

We offer three types of policies for your commercial vehicle:

Third Party Only is the most basic plan. It covers your legal liability for damage to other people’s property or for bodily injury or death caused to others in an accident involving your vehicle. It does not cover damage to your own vehicle.

Third Party Fire and Theft provides the same coverage as Third Party Only, with added protection for your vehicle against loss or damage if it is stolen or catches fire.

Comprehensive offers the highest level of cover. It includes everything covered under Third Party Fire and Theft, plus protection for damage to your own vehicle up to its market value.

Customised Commercial Vehicle Insurance allows you to tailor your policy to meet your specific business needs by adding optional covers. This flexibility ensures that you only pay for the protection you require, without unnecessary extras.

Example:
One popular add-on is the No Claim Discount (NCD) Protector. This optional cover is available to you if your NCD is 20%. With the NCD Protector, it allows you to keep your NCD if you make no more than one claim within the same policy term.

Other customisable options might include 24-Hour Roadside Assistance and "Any Workshop" cover, so you can decide what level of flexibility and security best suits your business operations.

Under the Comprehensive Commercial Vehicle Insurance and Third Party, Fire and Theft Insurance policy plans, we insure your van up to its market value at the time of loss or damage.

Restricted Usage – We do not cover:

• Carrying of passengers or delivery of goods, unless it is in connection with your trade or business (which cannot be in relation to despatch or courier services; for example, lalamove, Foodpanda, Grab, Deliveroo and others.
• Ferrying passengers outside of the enclosed passenger cabin and without a seatbelt
• Using the vehicle for driving lessons or tests (paid or unpaid)
• Renting or hiring out the vehicle to others
• Using the vehicle as a Private Hire Vehicle for ride-hailing services (e.g., Grab, Go-Jek)
• Using the vehicle for any purpose in connection with the Motor Trade
• Any other purposes not specifically agreed to by us in writing.

We won’t insure drivers who have had their licence suspended or revoked in the last 3 years. And we won’t insure those who have been rejected or declined by an insurer for reasons other than due to number of accidents and/or claims in the last 3 years. We don’t cover drivers who have a DUI charge (driving while under the influence of alcohol or drugs).

We do not allow your vehicle to be used for hire and reward and/or provide ride-hailing services, for example, via platforms including Grab, Ryde, Gojek, TADA and others.

Yes. You can extend your current vehicle’s 12-month policy for this reason, as we allow you to have your policy cover up to a maximum of 18 months. Once your new van is ready, you can cancel your current insurance with us for your current vehicle and we will give you a refund for the unused portion of the extended cover. Just give us a call at 6221 2111, Mondays to Fridays, 9am to 8pm and Saturdays, 9am to 3pm (Closed on Sundays and public holidays) and our Customer Care Executive will be happy to help you set this up.

It is standard industry practice for insurers to validate and update your accident and / or claim record on all incidents which happened before the policy start date.

The number of accidents and/or claims in your record may result in a difference to your premium.

At Budget Direct Insurance, we look at the total number of accident(s) / claim(s) on your record in the last three years preceding the start date of your policy, regardless of whether you were at fault in those accident(s). As the accident may have happened just before the end of your previous policy term, we may need time to validate the details with your previous insurer.

It is always important you inform your insurer of ANY change in material information to ensure your policy stays valid, and your accident record is a key material information that your insurer relies on to provide you coverage on your policy.

1. Policy Summary
2. Certificate of Insurance
3. Policy Schedule
4. Tax Invoice
5. Product Disclosure Document

The above documents will be sent to you by post unless you opt to go "Paperless", in which case we will email you the documents. If you decide to go "Paperless", your premium is reduced by S$20 (before prevailing GST).

You can get a quote or call our friendly Customer Care team at 6221 2111. Mondays to Fridays, 9am to 8pm and Saturdays, 9am to 3pm (Closed on Sundays and public holidays).

You can also visit us at 190 Clemenceau Avenue, #03-01, Singapore Shopping Centre, Singapore 239924. We’re open, Mondays to Fridays, 9am to 5pm (Visits by appointment only) (Closed on Saturdays, Sundays and public holidays).

You can pay online, over the phone, or visit us in person to pay using cash, credit card or cheque. Please note, PayNow is available for online payments.

Once payment is complete, you'll receive an SMS and your policy documents will be emailed to you.

Please be advised that Instalment Payment Plans (IPP) are currently not available.

We will issue the refund to the original payment method used at the time of purchase.

A step-by-step guide on what you should do if you are involved in an accident:

1. Remain calm and do not panic.
2. Check if anyone is injured - if there is personal injury, call 995 for ambulance or 999 for police assistance.
3. Do not move your vehicle unless necessary, especially if there are personal injuries involved.
4. Take photographs of the accident scene and damaged vehicles/property.
5. Exchange the following information and particulars with the other parties involved (including witnesses):
   - Vehicle Registration Number
   - Name/Address/NRIC
   - Contact Number
   - Insurer
6. Do not admit any liability, whether verbally or in a written form.

Should you require any towing services or assistance, please call our 24-hours Claims hotline at 6221 2199. Wait for a tow truck assigned by Budget Direct Insurance to tow your vehicle– you should not accept help from any other towing service providers. You should also report the accident at any of Budget Direct Insurance’s commercial vehicle Authorised Workshops or Accident Reporting Centres within 24 hours of the accident or by the next working day.

You are only required to report the accident to the police if someone is injured or dies in the accident or if it involves government/foreign vehicles, government property, cyclists or pedestrians. Hit-and-run accidents must also be reported.

Should you require further assistance, please call our 24-hour claims hotline at 6221 2199.

The driver involved in the accident must report personally within 24 hours or the next working day, with a copy of his/her driving licence and NRIC, to any of our commercial vehicle Authorised Workshop or Accident Reporting Centre. The vehicle must be present at the time of reporting.

You can report the accident at any of our commercial vehicle Authorised Workshops located island-wide. If you have purchased the “Any Workshop” optional cover, you can proceed to our Accident Reporting Centres to report your accident.

Yes, you are required to file an accident report at our Authorised Workshop/ Accident Reporting Centre for each and every accident even if there is a private settlement with the other party. The purpose of informing us is to safeguard you from any claims that might arise from the accident and so that we can defend you against any legal proceedings. You still need to lodge an accident report for any accident you are involved in.

Please click here for a copy of Budget Direct Insurance Private Settlement Form.

If your vehicle was damaged due to the accident, you have up to 6 years from the date of the accident to submit your Third Party Property Damage (“TPPD”) Claim against the other party (and his/her insurer). If you or your passenger suffered bodily injury as a result of the accident, you or your passenger have up to 3 years to submit your Third Party Bodily Injury (“TPBI”) Claim against the other party (and his/ her insurer).

However, the immediate steps that you should take after an accident (whether or not a TPPD and/or TPBI Claim is involved) are the following:

• you have to report the accident to us within 24 hours or the next working day.
• if you or your passenger had sustained bodily injury due to the accident, a Traffic Police report should be made within 24 hours or as soon as possible.
• If you intend to make a TPPD Claim against the other party, you should contact the other party’s insurer for them to conduct a pre-repair survey before you send your vehicle for repair. Note: Our Authorised Workshops are able to assist with your TPPD Claim or you may proceed to any workshop of your choice to file your TPPD Claim.

We recommend that you claim against your own vehicle insurance policy (“Own Damage Claim”) first (if you had purchased our Comprehensive Commercial Vehicle Insurance policy) and, after we have settled your losses which you have insured against in your policy, we will seek recovery against the other party on your behalf. If you are submitting an Own Damage Claim, you must submit such claim to us within 14 days from the date of the accident.

If you do not wish to submit an Own Damage Claim, you can also engage your own lawyer to submit your Third Party Claim directly against the third party driver.

You will still need to lodge the accident report within 24 hours or the next working day to provide the accident details and to safeguard yourself as the other party might still submit a claim against you.

You will not be able to claim against your Commercial Vehicle Insurance policy as your policy does not cover wear and tear from usage of your vehicle. However, if you have the 24 Hours Roadside Assistance optional cover, you can call us to arrange towing your vehicle to our Authorised Workshop or to your workshop for repairs.

In the event of "Park and Found" or "Hit and Run", you or your driver must lodge a police report before reporting the incident at our Authorised Workshop/Accident Reporting Centre. You may choose to claim under your own policy.

Call our claims team at 6221 2199. You will need to fill up the windscreen claim form and we will arrange for our repairer to assess the damage and recommend a replacement or repair of your windscreen or window.

You are required to report the theft to the local police and proceed to any of our Authorised Workshops/Accident Reporting Centres to lodge an incident report. For further assistance, please call our 24-hour claims hotline at 6221 2199 and our representatives will advise you.

You should only allow tow trucks assigned by Budget Direct Insurance to tow your vehicle. Should you require any assistance, please call our 24-hour claims hotline at 6221 2199.

Breakdown towing/assistance is available if you purchase the 24 Hours Roadside Assistance optional cover. If you did not purchase this optional cover, we can help you to arrange for roadside assistance. However, you will have to pay any costs directly to the roadside assistance operator.

If you receive any Letter of Demand/Originating Claim from the other party relating to the accident, you should email the document to us immediately. You should not negotiate, admit liability or offer payment to the other party.

All repairs carried out at our Authorised Workshops are guaranteed against repair defects for 12 months.

You can choose from the list of our Authorised Workshops to claim under your own policy. If you repair at one of our Authorised Workshops, we will guarantee against defects in the repairs authorised by us for a period of 12 months or until your vehicle gets damaged again, whichever is earlier.

If you are claiming against the other party or if you have purchased the Any Workshop optional cover, you may proceed to any workshop of your choice to repair your vehicle.

However, please note that we only provide a 12-month guarantee against repair defects if repairs are carried out at one of our Authorised Workshops.

Regardless of where you send your vehicle for repairs, you will need to file an accident report at any of our Authorised Workshops/Accident Reporting Centres.

There will be no replacement vehicle or loss of use provided.

However, if you have purchased our Transport Allowance optional cover, we will pay you S$50 per day, capped at a maximum of 10 days per accident and subject to a maximum of 20 days per policy term. This optional cover includes an additional allowance of S$50 to "get you home" after an accident.

This Transport Allowance optional cover is only available for Comprehensive Commercial Vehicle Insurance and Third Party Fire and Theft Insurance policies.

Under our Comprehensive Commercial Vehicle Insurance policy, if your windscreen or window needs to be replaced due to an accident, a S$100 excess (before prevailing GST) applies. Your windscreen cover will be auto-reinstated after each replacement. The excess is waived if your windscreen can be repaired.

If you have purchased the Windscreen Add-on optional cover with either of our Third Party plans, you are entitled to 2 repairs or replacements per policy term. If your windscreen or window needs to be replaced due to an accident, there will be a S$100 excess (before prevailing GST) applicable. Your windscreen cover will be auto-reinstated after the first repair or replacement. The excess is waived if your windscreen can be repaired.

If there is anything that we can assist you with, please email us at [email protected] or call us at 6221 2111 Mondays to Fridays, 9am to 8pm, and Saturdays, 9am to 3pm (excluding public holidays).

1. At any Road Tax Collection Centre
   Please bring along a copy of the Certificate of Insurance which you would have received from us by email and post (only if you have opted out of going paperless) and check with the respective centres on their road tax collection hours and payment modes before proceeding to renew your road tax at any of these centres.
2. Via AXS services/SAM services/LTA One Motoring website
   Once you have purchased your vehicle insurance you can go ahead and renew your road tax online at LTA’s One Motoring website. Or via AXS services or SAM services.
3. Renew via Giro
   You can apply online for Giro road tax renewal at One Motoring. Alternatively, you can download an application form here.

You may call us at 6221 2111. Mondays to Fridays, 9am to 8pm and Saturdays, 9am to 3pm (Closed on Sundays and public holidays).

You can check your vehicle details here on LTA's website.

If you need help finding this information, give us a call at 6221 2111. Mondays to Fridays, 9am to 8pm and Saturdays, 9am to 3pm (Closed on Sundays and public holidays).

Your insurance renewal instruction and full payment of premium should reach us at least 14 days prior to the expiry of your current policy. We will take it that you are not renewing your policy if we do not receive the full premium payment by the expiry date of your current policy and your policy will lapse after its last day of cover.

You do not have to do anything and we will deduct/charge the renewal premium from your credit card 14 days before the expiry of your current policy (“Deduction Date”).

If you do not wish to renew your policy, please inform us at least 2 working days before the Deduction Date and your policy will lapse after the last day of cover.

If any information in your renewal offer is missing or incorrect, or there are changes in your circumstances, please let us know immediately. Either email us right away or call us at 6221 2111. Mondays to Fridays, 9am to 8pm and Saturdays, 9am to 3pm (Closed on Sundays and public holidays).

Yes, you can cancel your policy by giving us at least 7 days' written notice. If you cancel before or on the policy start date, we will charge a cancellation fee of $50.00 (before prevailing GST). If you cancel after the policy start date, you will receive a premium refund of 80% of the unused premium if no claims have been made or incidents reported on your policy. In such case, any refund of the pro-rated unused premium will be computed as follows:

We will refund you via the same way in which you had paid for your premium, e.g. if you had paid by cash or cheque, we will refund you by cheque. If you had paid by credit card, we will refund you through the same credit card.

If your vehicle is being sold / scrapped or de-registered and you wish to cancel your insurance policy, then please provide us with the following supporting documents:

1. LTA notification on Transfer of Ownership / De-registration of vehicle OR
2. LTA SMS notification on the Successful Transfer of Ownership / De-registration OR
3. (In the event vehicle is sold) Handover form from dealer / buyer stating the handover date and time
4. If a vehicle registration number is retained prior to the sale or de-registration of the vehicle, please provide us with a copy of the LTA letter indicating the amendment.

You may email copies of your documents to [email protected]. Once we have received the required document(s), we will be able to process your policy cancellation based on the relevant date stated in the supporting document(s).