AAS and Tokio Marine Insurance to provide coverage for carpool and passengers

AAS Insurance Agency, a wholly owned subsidiary of Automobile Association of Singapore, has partnered with Tokio Marine Insurance Singapore Ltd to provide coverage on motor insurance for drivers to include carpool trips and personal accident cover for passengers. This partnership is the first in the industry that aims to bridge the gap faced by car owners in obtaining affordable coverage for themselves and their passengers when carpooling.

Accessibility to car-sharing platforms has led to a growing trend in drivers using their cars for carpool purposes. Under the Road Traffic Act, a driver may only accept two pre-agreed paid carpool trips per day and the destination of the passengers must be indicated before the journey. The amount or value of any benefit in kind collected from the passenger cannot be for profit and must not exceed the expenses incurred for the trip.

The coverage offers protection to car owners while engaging in carpool purposes. Without this coverage, the insured vehicle usage is only limited to social, domestic and pleasure purposes. The insurer will not be liable for property damage or injury in event of a claim arising from the use of carpool. This benefit also further extends the personal accident insurance cover to passengers in the event of an injury due to an accident.

The coverage is offered to all policyholders at no additional premium, exclusively through AAS Insurance Agency, and underwritten by Tokio Marine Insurance Singapore Ltd. Currently, policyholders who sign up for motor insurance with AAS Insurance Agency will be able to enjoy $100 off and up to a 10 percent discount on motor insurance premiums. Successful applicants also get to receive a one-year free AA Ordinary Membership. For more information, please refer to www.aas-insurance.com.sg.