Singapore is a compact nation. Restricted space indicates the Government require to handle the quantity of vehicles on the road or else the roads will be packed. This is why Singapore has the highest expense of car or truck ownership in the planet.
The public transport method is really created, with the MRT (metro) and public buses reaching just about everywhere on the island. As such, some residents only rent a car or truck when it is vital, like a loved ones outing to numerous areas on the identical day, or a day-trip to neighbouring Malaysia.
Singapore car or truck rental can be affordable and very affordable. A typical sedan like Toyota Altis, Toyota Vios, Honda City or Mitsubishi Lancer can go for as low as $68/day, identical applies to hatchbacks like Honda Match or Jazz. A MPV like Mazda Premacy or Hyundai Trajet can go for as low as $78/day, compared to the usual variety of $100-$120/day.
For the previous 10 years, there are quite a few errant car or truck rental firms who rent out vehicles not belonging to the corporation, but belonging to private car or truck owners who could not afford to maintain up with their car or truck loan installments. “So what?”, you may well ask. There lies a major hidden danger.
A right car or truck rental corporation owns its fleet of autos, and the fleet is insured by an insurance coverage corporation which does cover “employ and reward”. A typical private car or truck insurance coverage will not cover “employ and reward”, which exposes you to limitless liability.
What does this imply? Instance:
You have rented a car or truck from an errant car or truck rental corporation exactly where you are not adequately covered for “employ and reward” in the insurance coverage policy and then you met with a targeted traffic accident which you had triggered injuries to a pedestrian. The pedestrian sues you for $100,000 damages, but the insurance coverage corporation refuse to spend due to breach of contract. The judge later ruled that you have been, say, 70% accountable for the victim's injuries, and the claim quantity (quantum) is adjusted to $70,000 as an alternative of the original $100,000. This indicates you have to compensate $49,000 (70% of $70,000) to the victim, failing which you shall be created a bankrupt. Additionally, you could be prosecuted for driving without having a valid insurance coverage, which attracts a fine no far more than $1,000 or jail no far more than three months, or each.
This is a really major danger! Why would you want danger becoming created a bankrupt for just renting a car or truck? What is far more, errant car or truck rental firms may well not necessarily charge reduced prices than adequately insured firms!
How to inform whether or not the car or truck is adequately insured for “employ and reward”? The simplest way is to appear at the road tax disc of the automobile. A automobile registered with LTA (Land Transport Authority, Singapore) for employ purposes with valid rental insurance coverage coverage will bear the word “MOTORCAR” under the date of expiry, as an alternative of “PASSENGER(PRIVATE)” or “PASSENGER(CO)”. You can dial 1800-Get in touch with-LTA to confirm.
Usually, right car or truck employ insurance coverage would not cover “P Plates” (drivers with much less than a single year of driving expertise). Most may well not even cover drivers much less than 23 years of age, regardless of their driving expertise. So, if you are young (< 23=”” years=”” old)=”” or=”” inexperienced=”” (p=”” plate),=”” you=”” would=”” be=”” undertaking=”” a=”” very=”” big=”” risk=”” if=”” you=”” drive=”” a=”” rental=””> car or truck mainly because regardless whether or not it is a right car or truck rental corporation or not you will not be covered!
We have right here a suggested merchant that has a nicely maintained fleet of autos with right insurance coverage coverage. The corporation is legally incorporated and LTA-registered as a car or truck rental corporation. It also boasts a “LOWEST Cost Assure”, assuring you that you can not discover a less costly deal anyplace else.