Supercar insurance does not cover valet

Owners of expensive supercars are fully liable for any damages. Motor insurers have confirmed that damages by valet are not covered under the scheme, and owners will be pay from their own pockets.

Speaking to The Straits Times, President of the General Insurance Association of Singapore, Mr Derek Teo, said that such clauses are included in policies for "highly valuable cars". This can be attributed to the high value involved and that these cars are more often than not very powerful.

The Straits Times reported that owners of such cars, when interviewed, were aware of this clause. They were also not surprised of the recent incident, where a Ferrari was taken on a joyride around Sentosa, and have also came across cases where cars have been scratched or items missing from the car when handled by valets.

Mr Gregory Soh recalls of one such incident, where his BMW convertible was scratched at the bumper. He had to fork out money for the repair, and since then, he stopped handing his cars to valet.

Mr Peh Chee Keong, Vice President of motor insurance at NTUC Income, explained that not all motor insurance will cover owners and authorised drivers, including valets. As not all car owners will have insurance covering the valets, companies providing such services should ensure that they have the right trade policy in place.