How PHV Insurance Differs from Normal Car Insurance
Aspect | Regular Car Insurance | PHV Car Insurance |
|---|
Intended use | Personal driving only | Commercial hire & reward (passenger transport, delivery) |
"Hire & Reward" coverage | ❌ Excluded | ✅ Explicitly included |
Legal for Grab / Gojek / Delivery | ❌ No | ✅ Yes (meets LTA + platform requirements) |
Consequences if mismatched | Claim denial, policy termination | Full coverage during commercial work |
Premium cost | Lower (limited exposure) | Higher (reflects commercial risk, high mileage) |
Primary use case | Private car owners for personal driving | PHV drivers, ride-hailing, food delivery drivers with constant road time, passenger liability, delivery obligations |
PHV Insurance Comparison: Providers, Features, Costs
Compare leading PHV insurers in Singapore by coverage types, key features, payment plans, and eligibility requirements.
Provider | Coverage types | Key features & add-ons | Instalment plan | Eligibility |
|---|
eazy Insurance | Comprehensive, TPO | | Available | Licensed PHV driver (PDVL); vehicle registration under PHV (Z10/Z11); LTA requirements |
GrabInsure | Comprehensive | | Available (via Grab wallet) | Grab drivers; licensed PHV driver (PDVL); PHV registration (Z10/Z11) |
India International Insurance (iii) | Commercial Vehicle | General commercial coverage | Check with insurer | Commercial vehicle registration; verify PHV "hire & reward" coverage |
Disclaimer: Standard car insurers like NTUC Income's Drivo product and FWD car insurance explicitly exclude private hire usage. Always confirm "hire & reward" coverage is included before purchasing any policy.
Note: Premiums are dynamically quoted based on individual driver and vehicle profiles. For accurate, discounted rates, reach out to our licensed car insurance specialists for more details.
Factors Affecting Cost of PHV Car Insurance
The cost of PHV car insurance in Singapore isn't fixed. Your premium is determined by several factors:
Vehicle type and value: Newer, higher-value cars generally attract higher premiums, as do models with expensive parts or those often used for hire.
Driver profile: Age, years of driving experience, and driving record matter. Young or newly-licensed drivers tend to pay more. A clean claims history works in your favour.
Claims history: Past accidents or claims can increase your risk profile, leading to higher premiums. Many insurers check for both PHV- and personal-use claims.
Usage patterns: Full-time drivers or those racking up high mileage, including delivery drivers, may face higher premiums due to increased exposure. Part-time drivers or those with limited hours could see lower rates.
Coverage level & add-ons: Basic third-party policies are the cheapest, but comprehensive PHV insurance (which protects your own car, not just others' vehicles) is more expensive—especially when you add benefits like roadside assistance, NCD protection, or enhanced accident cover.
Tips to find the best value
Leverage discounts and NCD benefits: Most insurers offer No-Claim Discount (NCD)—a reward for claim-free driving with 10-50% premium discounts. Look for:
NCD transfer options (personal car to PHV) or separate NCD build-up
NCD protection add-on (preserves discount after claims; critical for full-time drivers)
Zero-fee instalment plans (monthly / quarterly)
Platform partnership promos (Grab, Gojek)
Loyalty discounts for repeat customers
Watch for red flags in cheap policies: The cheapest option isn't always best. Verify:
"Hire & reward" coverage included (plus passenger liability)
Excess amounts (your out-of-pocket per claim)
Claims support quality and responsiveness
Promo renewal rates (first-year discounts may not continue)
Instalment fees (not all "0% interest" plans are truly fee-free)
How to Buy PHV Car Insurance in Singapore: Step-by-Step Guide
Step #1: Tell us what you need
Fill up a quick questionnaire about your PHV insurance needs to reach out to our licensed car insurance specialists.
You may need to provide:
NRIC/FIN (for Singaporeans/PRs or foreign drivers)
Valid Private Hire Car Driver's Vocational Licence (PDVL)
Vehicle registration details (make, model, year, registration number, PHV scheme Z10/Z11)
Driving/insurance history (including NCD)
Intended PHV usage (passenger transport, delivery, or both)
Once you’ve submitted the form, our car insurance specialists will contact you within 1–3 working days.
Based on your form and driving profile, they'll review the best PHV insurance coverage and premiums for your driving needs and budget. This is especially important for PHV drivers since "hire & reward" coverage must be explicitly confirmed.
Step #2: Compare your quotes
Request and review your PHV insurance quotes. At this stage, advisors can walk you through:
Coverage differences (comprehensive vs third-party, dual-use options)
Premium breakdowns and payment options
Key policy exclusions or conditions (platform restrictions, delivery coverage)
💡 MoneySmart Tip: |
For renewals or switches, confirm NCD transferability between personal car and PHV policies—some insurers require starting fresh for commercial use. |
Step #3: Customise your coverage
Enhance your policy with add-ons if needed, such as:
NCD protection (critical for full-time drivers to preserve discounts after claims)
Personal accident coverage
Roadside assistance (24/7 towing, transport allowance)
Excess waiver options
Enhanced coverage for delivery work (if doing food/parcel delivery)
Step #4: Confirm your PHV insurance purchase
Once you've chosen the right plan, prepare the required documents and lock in your PHV insurance plan!
Upon successful payment, your digital policy and certificate will be available almost instantly. Be sure to download and save them safely as official proof of insurance, especially for LTA compliance checks, platform verification (Grab/Gojek driver activation), and roadside checks.
Why Buy Through MoneySmart?
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