Motor insurance is availed in order to provide coverage for cars, trucks, motorcycles, etc. against any form of loss, damage and/or bodily injury resulting from traffic collisions or against third party legal liability that may arise due to any accidents. Vehicle insurance also offers protection in case of theft or any damage to the vehicle which is sustained from events other than traffic collisions.
Overview: Tokio Marine Motor Insurance - Singapore
Tokio Marine is an insurance company that was incorporated in Japan in 1879. Tokio Marine Holdings was initially known as Millea Group and it got its current name in 2008. It is headquartered in Tokyo and has branches in 486 cities in 37 countries. Tokio Marine Asia offers a comprehensive range of life insurance and general insurance products in the region. It has a strong presence in Singapore, Hong Kong, Indonesia, Australia, India, Philippines, Thailand, Malaysia, Taiwan, Vietnam and China. In 1977 the Tokio Marine and Fire Insurance Company Pte. Limited was established in Singapore.
Tokio Marine Motor Insurance covers accidental loss or damage to your vehicle and your legal liability to a third-party (including passenger) injury and property damage. It also offers best deals and privileges such as. It offers free protection against flood, windstorm, riots, strikes and civil uprisings and also offers unlimited windscreen cover of $100 for every claim.
Tokio Marine Coverage Plans
Tokio Marine offers its customers 3 types of motor insurance plans:
- Comprehensive Plan
- Third Party, Fire and Theft Plan
- Third Party Plan
Tokio Marine Comprehensive Plan
Cover loss or damage to your vehicle and your legal liability to third party (including passengers) injury and property damage.
- Offers unlimited windscreen cover
- Covers passenger legal liability to third party which is caused due to negligent acts of your passenger(s).
- Provides personal accident cover up to $50,000.
- Also offers medical cover of for the insured, his/her driver as well as passenger(s) up to $1,000 each for every accident.
- Provides 24-hour towing services from approved workshops for accident-related breakdowns.
- Additional covers are provided free of cost in case of: flood, windstorms, riots, strikes, or civil uprisings.
Benefits under Approved Workshops Plan
- In order to claim your insurance, accident repairs have to be done in any of the company approved workshops unless the vehicle is still under manufacturer's warranty. However, even under the manufacturer's warranty, the insured must still get their windscreen replaced at one of the approved workshops.
- When the windscreen is being replaced at an approved workshop, limit is not imposed on the costs of replacement and it will also not affect the No Claim Discount (NCD).
- Excess for the first accident in the policy year will be waived, during repair at an approved workshop, if the insured has 40% or above of NCD. However, this is applicable only if the vehicle was driven by you or an authorized driver when the accident occurred.
Tokio Marine Third Party, Fire & Theft Plan
Loss or damage to your vehicle which is caused due to fire or theft, as well as legal liability to any property damage or injury to third party, is covered under this plan.
Tokio Marine Third Party Plan
Third party injury or property damage that leads to a legal liability to the insured, is covered under this plan.
Compare Tokio Marine Motor Insurance With Other Insurance Companies Offering Car Insurance in Singapore
- NTUC Motor Insurance
- NTUC Car Insurance
- HSBC Car Insurance
- Tenet Car Insurance
- AVIVA Car Insurance
- AXA Car Insurance
- AIG Motor Insurance
- AIG Commercial Motor Insurance
- Liberty Vehicle Insurance
- ETIQA Motor Insurance
Frequently Asked Questions - Tokio Marine Motor Insurance
- What are the factors that affect my premium?
- What are the benefits under Other Workshops Plan? The benefits under other workshops plan include:
- Accident repair can be done at any workshop.
- Windscreen replacement can be done at workshops of your choice, but the maximum coverage will be $500 only, for each claim.
- What are the limitations imposed on use of the vehicle? The vehicle should not to be used for:
- As reward
- For speed testing, racing, reliability trial or pace making.
- Does geographical location affect coverage?
- How can I cancel my policy?
The amount of premium depends on the underwriting criteria of Tokio Marine, as well as on the No Claim Discount (NCD) entitlement of the insured.
Yes, the vehicle will covered only if it is driven in Singapore, parts of Thailand up to 80 km from the border with Malaysia, or in West Malaysia.
A policy can be cancelled by giving a seven days notice in writing, and if there is any premium to be refunded, it will be subject to conditions applicable in the policy.