Questions bosses actually ask.

At The Insurance Exchange, our prices are attractive because we’re a large volume producer for insurance companies. This allows us to negotiate better deals with insurers and offer you lower premiums. On top of that, we provide additional discounts to help bring new customers on board, ensuring you save money not just now, but for years to come.
Yes, we do earn commissions, but our focus is on long-term savings for our clients. With our expertise, you get the best rates without sacrificing quality or service. And, of course, switching insurers is easy, with your No Claims Discount (NCD) fully transferable.
There’s no catch—just transparent savings and great service!

An insurance Motor Excess is the amount you must pay out of pocket when you make a claim for own damage to your vehicle (such as an accident you are responsible for). It’s your contribution towards the cost of the repairs before the insurer covers the rest.
For example, if your excess is $600 and the repair costs after an accident are $2,000, you’ll pay the first $600, and the insurer will cover the remaining $1,400.
Excess amounts can vary depending on factors like the driver’s age, experience, or specific conditions in your policy. Remember, this only applies to own damage claims—other types of claims, such as third-party liability, may have different rules or no excess at all.
Always check your policy to understand what excess applies to your coverage.

Yes! Your No Claims Discount (NCD) will transfer with you when you switch insurers. The great news is we can verify your NCD ourselves, so there’s no need to provide proof.
This means you can switch to us without any hassle, and your NCD will be applied to your new policy, helping you continue saving on your premiums.

Approved Workshops: repairs happen at your insurer's panel workshops, which double as accident reporting centres — report and repair in one stop. Because insurers partner with these workshops, the plan is cheaper, and for most commercial vehicles it's all you need. Any Workshops: you choose where to repair, including workshops outside the panel. That freedom suits specialised or high-end vehicles, but you pay a noticeably higher premium for it. Our advice for most vans and lorries: take Approved and keep the savings.

An NCD Protector is an optional add-on that lets you keep your No Claims Discount even after making a claim. Pros: one accident won't wipe out the discount you've built. Cons: your premium can still rise after a claim — insurers adjust rates based on claims history regardless — and the protector doesn't transfer if you switch insurers. Whether it's worth it depends on your situation; WhatsApp us and we'll tell you straight.

In most cases, you don’t need to provide named drivers for your Commercial Motor Policy. Typically, the policy will cover any driver as long as they are authorized by you, have a valid driver’s license, and meet the terms of the policy.
However, some policies may apply higher excesses or restrictions for young, elderly, or inexperienced drivers. If this applies to your drivers, it’s a good idea to discuss these details with your insurer to ensure you’re covered appropriately and understand any additional terms or costs.

In Singapore, commercial vehicles must undergo annual inspections at an authorized inspection center to ensure they meet road safety and emission standards. However, there’s no strict order for whether the inspection needs to be done before or after purchasing insurance.
You can choose to renew your insurance first or complete the inspection first—both processes are independent of each other. Just make sure your vehicle passes the inspection within the required timeframe to stay compliant with Singapore regulations.

The YEID (Young, Elderly, or Inexperienced Drivers) additional excess clause in your policy applies if your vehicle is driven by a person who is:

• Under 26 years old,
• 70 years old or above, or
• Has less than 2 years of driving experience in Singapore.

With Tokio Marine Insurance, this means you will have to pay an additional excess of SGD 2,500 on top of the standard excess stated in your policy for each claim involving one of these drivers.
It’s important to note that this clause is specific to Tokio Marine, and other insurers may have different age ranges and additional excess amounts. Be sure to check your specific policy to understand the exact terms and conditions.

For older commercial vehicles, insurers either decline comprehensive cover or price it very high against the vehicle's low market value — so Third Party Only saves real money while keeping you fully legal. On top of that, theft risk for working vehicles in Singapore is genuinely low, and diesel vehicles carry low fire risk — so paying extra for fire and theft cover rarely earns its premium. For newer or financed vehicles, comprehensive remains the right call.

Just two things: a copy of your vehicle log card (PDF preferred, or a clear photo) and your company name. WhatsApp them to us and your quote will be on its way!

Three steps. 1) Safety first — stop, check for injuries, and move the vehicle aside if it is safe to. 2) Exchange details and take photos — names, contact numbers, vehicle plates and insurance details of everyone involved, plus photos of the scene and the damage. 3) Report within 24 hours (or the next working day) at an authorised workshop or accident reporting centre — this is mandatory in Singapore. Not sure what to do? Call us first and we will walk you through it.