Compare the Best Commercial Vehicle Insurance in Singapore

We partner with business insurance specialists to help you compare and find the best commercial vehicle insurance policies.

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What is Commercial Vehicle Insurance?

In Singapore, commercial vehicle insurance is essential for businesses that rely on transportation.

This insurance provides financial protection against risks such as accidents, theft, and damage to vehicles used for business purposes.

It ensures that in the event of unforeseen circumstances, the financial impact on your business is minimised, allowing operations to continue smoothly.

With coverage tailored to the unique needs of commercial operations, it not only protects your vehicles but also safeguards your business against potential losses and liabilities.

This practical solution offers peace of mind, knowing your assets are covered with a policy designed specifically for the challenges faced by businesses on the road.


Comprehensive commercial vehicle insurance provides the most extensive coverage, including damages to your own vehicle, theft, accidents, and third-party claims. It's the highest level of protection for businesses against various road-related incidents.

Third Party Fire & Theft

Third Party Fire and Theft commercial vehicle insurance covers damages to third parties, as well as loss or damage to your vehicle caused by fire or theft. It offers a middle ground between basic third-party coverage and comprehensive insurance.

Third Party

Third Party insurance is the most basic form of commercial vehicle insurance, covering only the damages or injuries your vehicle may cause to other parties, without any protection for your own vehicle.

Why Commercial Vehicle Insurance?


Regulatory Compliance

Commercial vehicle insurance in Singapore is a regulatory requirement for businesses using vehicles for operational purposes. This compliance ensures that your business adheres to local laws, avoiding potential legal issues and fines.


Financial Security

Commercial vehicle insurance provides financial protection against significant losses from accidents, theft, or damage to your vehicles. This coverage helps manage unexpected expenses, thereby safeguarding your business's financial stability and continuity.


Minimise Downtime

Downtime minimisation ensures that in the event of an accident or theft, your business experiences minimal interruption, thanks to quick claims processing and support, keeping your operations running smoothly.


Liability Protection

Commercial vehicle insurance provides a safeguard against the financial implications of third-party claims, including property damage or bodily injuries caused by your commercial vehicles, thus protecting your business from potential legal and compensation costs.


Customised Coverage

Customised coverage options allow you to specifically tailor your commercial vehicle insurance to match the unique needs and risks of your business, ensuring that you're only paying for what you truly need.

Who should get commercial vehicle insurance?

Logistics and Delivery Services

Businesses specialising in the delivery of goods, ranging from small parcels to large freight, must have commercial vehicle insurance to protect against the risks associated with transportation and delivery operations.

Construction and Contracting Companies

Firms that use vehicles for transporting materials, tools, and personnel to various sites require commercial vehicle insurance to cover the unique risks faced by vehicles operating within or between construction sites.

Any Business With Vehicles for Operations

Whether it’s a small enterprise using a single vehicle for client visits or a large corporation with a fleet for various operational needs, any business that relies on vehicles for business purposes must secure commercial vehicle insurance to protect against potential risks and liabilities.

Best Commercial Vehicle Insurance Plans in Singapore

aig logo

AIG commercial vehicle insurance

AIG's Commercial Motor Insurance plans, including the AutoPlan and AutoPlus, provide comprehensive protection for commercial vehicles.

These plans allow businesses to choose any workshop or select from authorised ones for accident repairs, ensuring flexibility while minimising downtime.

The policy offers robust coverage that not only protects against vehicular damage but also extends to third-party liabilities, helping you navigate the business roads with confidence and assurance.
allianz logo

allianz commercial vehicle insurance

Allianz's Commercial Motor Insurance is designed to cover all bases for your fleet, big or small.

It includes essential protections such as third-party liability, damage from accidents, and theft or attempted theft of the vehicle and its contents.

This policy emphasises hassle-free claims and getting your vehicles back on the road quickly, ensuring your operations are not unduly disrupted by accidents or incidents.

Allianz’s promise is to safeguard your commercial vehicles so that you can focus on driving your business forward without undue stress.
msig logo

MSIG commercial vehicle insurance

MSIG offers a comprehensive plan for commercial fleets that provides equal protection for all drivers without additional excess, and unlimited windscreen cover at no extra charge.

The policy includes a straight 20% discount for fleets of 10 vehicles or more, adding a significant cost benefit for larger operations.

Coverage extends to liability for injury and property damage caused by your vehicles, making it a robust choice for businesses seeking thorough coverage.

This plan ensures that older vehicles, even beyond 25 years, can remain protected under the Third Party Only cover, which is subject to underwriting.
etiqa logo

etiqa commercial vehicle insurance

Etiqa's Commercial Vehicle Insurance provides extensive protection for business fleets, covering damage or loss due to accidents, fire, theft, and malicious acts.

The insurance includes coverage for the vehicle's accessories and parts during transit across specific routes.

In terms of third-party liabilities, it offers indemnity for bodily injuries and property damage.

Authorised drivers are also covered under the same terms as the insured. The policy facilitates assistance services such as towing to the nearest repairer and vehicle delivery within the country post-incident, ensuring minimal disruption to business operations.

Notable exclusions include mechanical failures, depreciation, employee injuries during work, and damages during unauthorised loading or unloading activities.
liberty insurance logo

liberty commercial vehicle insurance

Liberty Insurance offers a robust Commercial Vehicle Insurance that ensures your fleet is covered comprehensively.

The policy includes coverage for accidental loss or damage by fire, theft, and other insured causes, along with accidental damage to the windscreen.

Liberty provides various plan options such as Comprehensive, Third-party, Fire & Theft, and Third-party coverage.

This breadth of options allows you to tailor the insurance precisely to your business needs, providing both flexibility and comprehensive protection.
tokio marine logo

tokio marine commercial vehicle insurance

Tokio Marine's Commercial Vehicle Policy offers coverage options including Comprehensive, Third Party Fire and Theft, and Third Party only.

It covers loss or damage due to accidental collisions, and your legal liability for third party’s injury and property damage.

The flexibility in choosing between approved workshops and other workshops for repairs gives you control over maintenance decisions.
Singlife logo

Singlife commercial vehicle insurance

Singlife offers a versatile and robust Commercial Vehicle Insurance that caters to various business needs.

The policy provides comprehensive coverage, which includes protection against accidental collision, theft, and third-party liabilities.

One of the standout features is the flexibility to choose any workshop for repairs, coupled with a 24/7 claims helpline, ensuring support is always available in emergencies.

The policy also offers premium savings by allowing businesses to select the extent of coverage that best fits their budget and needs.

Additional protections, such as airside extensions and coverage for additional accessories, can be added to tailor the policy further to specific operational demands.

How to apply for a comparison session?

Step 1

Submit a request for a quote with Corporate Cover. Based on your request, we will match you with one of our MAS-licensed partners.

Step 2

Our partners will obtain quotations from the respective insurers and help you compare based on price, features, and suitability.​

Step 3

Once you've found the perfect commercial vehicle insurance policy, feel free to purchase it from a friend, directly from the insurer, or from our partners!

What types of vehicles are covered under commercial vehicle insurance?

Commercial vehicle insurance in Singapore typically encompasses a broad range of vehicles, catering to the diverse needs of various businesses. However, the exact vehicle types covered depend on the insurer and policy purchased.

Here are some covered vehicle types: 

  • Pick-up trucks
  • Lorries
  • Vans
  • Trailers
  • Buses
  • Coach
  • Station wagon
  • Refrigerated commercial vehicle
  • Cars

What's the difference between commercial vehicle insurance vs personal car insurance?

Commercial vehicle insurance and personal car insurance serve distinct purposes, reflecting the different risks and usage patterns associated with business and personal vehicles. 

Commercial vehicle insurance is designed to cover vehicles used for business purposes, providing protection against risks like accidents, damage, and theft during work-related operations. This type of insurance often includes liability coverage for goods or employees and can be tailored to the specific needs of a business, such as coverage for a fleet of vehicles. 

On the other hand, personal car insurance covers vehicles used for personal activities, such as commuting, errands, and travel, focusing on protecting the individual and their personal property. It typically offers coverage for accidents, theft, and third-party liabilities, but does not extend to business-related activities or commercial liabilities. 

How much is commercial vehicle insurance in Singapore?

The cost of commercial vehicle insurance in Singapore can vary widely, depending on several factors including the type of vehicle, its use, the risk profile of the drivers, and the level of coverage selected. 

For example, insurance for a small delivery van used within city limits might cost differently compared to a heavy lorry used for cross-country haulage, due to the differing risks associated with each. 

Additionally, policies can be customised with various add-ons, such as coverage for goods in transit or additional liability protection, which can also affect the premium.

Generally, premiums can range from a few hundred to several thousand SGD annually. 

Businesses are advised to obtain quotes from multiple insurers and consider the extent of coverage required to ensure they are adequately protected without overpaying. 

Comparing policies is crucial, as it allows businesses to find the best coverage that meets their specific needs and budget constraints.

What is the cheapest commercial vehicle insurance in Singapore?

It’s impossible to pinpoint the cheapest commercial vehicle insurance in Singapore, as different insurers will quote varying amounts based on numerous factors unique to each business. These factors include the type and use of the vehicle, the risk profile of the drivers, and the specific coverage needs of the business. 

To find the most cost-effective option for your commercial vehicle insurance, it’s crucial to compare quotes from multiple insurers, taking into account both the price and the extent of coverage offered.

What isn't covered in commercial vehicle insurance in Singapore?

Commercial vehicle insurance in Singapore typically excludes coverage for wear and tear, mechanical or electrical breakdowns, damage from radioactive contamination or nuclear weapons, and incidents occurring outside Singapore. 

Additionally, claims related to driving under the influence of alcohol or drugs, or without a valid license, are not covered. Policies also exclude liability from contractual agreements and personal belongings inside the vehicle, emphasising the importance of reviewing your policy details for specific exclusions.

What's the difference between commercial vehicle insurance and fleet insurance?

Commercial vehicle insurance covers individual vehicles owned by a business, offering protection against damages, accidents, and liabilities related to their use for business purposes. 

Fleet insurance, on the other hand, is designed for businesses that operate multiple vehicles, providing a consolidated policy that covers all vehicles under one umbrella. 

This simplifies management and often offers cost benefits compared to insuring vehicles individually. The choice between the two depends on the size of the vehicle fleet and specific business needs.

Can I buy commercial vehicle insurance online?

Yes, you can purchase commercial vehicle insurance online through Corporate Cover & our partners.

We’ve streamlined the process by partnering with a selection of reputable insurers. This online approach allows you to easily compare quotes, understand coverage options, and secure the best policy for your business needs from the comfort of your office or home.

We simplify insurance buying, making it more accessible and convenient for you to get the protection you need promptly.

What commercial vehicle insurers can your partners help me with?

Our partners can broker for a wide array of reputable insurers to suit your specific commercial vehicle insurance needs.

This extensive network includes top names like AIG, Allianz, Chubb, Etiqa, Liberty, and many more, ensuring that we can cater to a diverse range of requirements and preferences.

If you have a preferred insurer in mind, feel free to ask, and we’ll do our best to accommodate your needs, leveraging our partnerships to provide you with the best possible coverage options.

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Why you should get your commercial vehicle insurance with Corporate Cover


Reducing Costs

At Corporate Cover, we understand the intricate balance between cost and quality in commercial vehicle insurance. By choosing us & our partners, you're tapping into a wealth of resources that aim to not only reduce your premiums but also enhance your coverage. We leverage our strong partnerships with leading insurers to secure exclusive deals, ensuring you get more value for every dollar spent. Our goal is to help you maximise savings without compromising on the protection your business needs.


Protecting Revenue

We recognise that every minute counts in your business. That's why our commercial vehicle insurance solutions are designed to minimise downtime and keep your operations running smoothly. With our comprehensive coverage options, we ensure quick claims processing and support, reducing the impact of any unforeseen events on your business activities. By safeguarding your vehicles against a range of risks, we help protect your revenue streams and ensure business continuity.


Unmatched Customer Service

At Corporate Cover, your business is our top priority. Our dedicated partners are committed to understanding your unique needs and delivering personalised solutions. From finding the right coverage to navigating claims, we're with you every step of the way, offering expert guidance and support. By partnering with us, you gain a trusted advisor who is invested in your success, ensuring that your business receives the protection it deserves.

Find The Perfect Commercial Vehicle Insurance Policy Today!