Are you a PHV driver for Grab, Gojek, TADA, etc? Are constantly worried about the high motor PHV excess insurance your PHV rental company or your own insurance company will charge you? PHV insurance comes with high excess .This excess can in the region of $2,000 for own damage (Section 1) and $1,500 for third party damage (Section 2). Therefore if you meet an accident and due to own fault, you need to pay up a total of $3500. For some, it’s a full month’s income loss.
The good news is, insurance companies have come up with motor excess insurance. They charge anything from $3.00-$5.00 a day, depending on how much of the excess is covered.
If you are already driving for Grab, you may enquire for the Chubb excess insurance, which costs $5.00 a day. However bear in mind for this scheme, you need to pay the excess first, then claim back when all documentations are in place.
For drivers, who use their own vehicles, you can contact Mr. Kumseng Wong at 91681213 for more information. In this program, you need not pay the excess that is covered. All you need is have all documentation in order and we will do the submission.
It is important to protect your income because the accident rate for PHV drivers is very high, given the PHV drivers can spend 8-14 hours on the road daily. Furthermore, if you are unable to settle the excess when an accident happens, you may be stopped from getting a new insurance policy, which is detrimental to the drivers’ livelihood. Therefore, for only $5.00 or less each day, it makes sense to be safe than sorry.
Also if you want to buy insurance for your private car you can check online car insurance quotes . Insurance Market is a market place where we are serious about insurance and where professional parties come together to transact insurance only in the best and most responsible manner. Insurance Market offers a wide range of general insurance products (such as travel insurance, maid insurance, pet insurance and more) online and life insurance through personal advice from our qualified brokers.Please contact us at +65 69081811 if you have any questions.