GigaDrive

Gigacover CDW is a unique insurance product that helps private hire drivers who rent their vehicles pay less excess to your rental company in the event of an accident.

Private hire drivers who are insured under Gigacover CDW and submit a valid claim will only need to pay the 1st $500 (+ GST) of excess to their rental company. Gigacover pays the remaining amount you are liable for straight to the rental company.

Gigacover CDW is made for private hire drivers in Singapore who rent their passenger motor vehicles from rental companies.

The insured should have a valid driver’s license and Taxi Driver’s Vocational Licence (TDVL) or Private Hire Car Driver’s Vocational Licence (PDVL).

Your rental contract with the rental company for the motor vehicle you are renting should state the amount of excess you are liable to pay to the rental company in the event of an accident. It would typically be split into

1. Section 1 (Own Damage) excess, and
2. Section 2 (3rd Party) excess

Section 1 (Own Damage) excess typically refers to the amount you need to pay the rental company for accidental loss or damage to the vehicle you rent.

Section 2 (3rd Party) excess typically refers to the amount you need to pay the rental company for accidental injury, loss, or damage caused to a 3rd party by the vehicle you rent.

You should select a level of coverage for CDW that is the same as that of the excess indicated on your rental contract.

If for example, your rental contract states that:

1. your Section 1 (Own Damage) excess is $1500, and
2. your Section 2 (3rd Party) excess is $2000,

You should select CDW excess of Section 1 = $1500 / Section 2 = $2000.

In the case of an accident, assuming

1. Rental company charges GST of 7%;
2. Your rental contract states that you are liable to pay Section 1 excess of $1500 (+ GST) and Section 2 excess of $2000 (+ GST) to the rental company
3. You are covered under CDW and have a valid claim

You pay: $500 x 107% = $535 to the rental company

Gigacover pays: ($1500 + $2000 + 107%(GST AMT))- $535 excess = $3,210

In the event of an accident, if the claim is valid, you will only need to pay the 1st $500 (+ GST) of combined excess to your rental company for that accident and we will pay back your company for the rest of the excess (if they will agree with the said arrangement) or if not, you have to pay first the invoked excess then once approved we will reimburse it to you.

You will only need to pay the 1st $500 (+ GST) for an accident, regardless of whether

1. You are liable to pay for both Section 1 and Section 2 excess;
2. You are only liable to pay for Section 1 (Own Damage) excess; or
3. You are only liable to pay for Section 2 (3rd Party) excess.

In the case of an accident, assuming

1. Rental company charges GST of 7%;
2. Your rental contract states that you are liable to pay Section 1 excess of $1500 (+ GST) and Section 2 excess of $2000 (+ GST) to the rental company
3. You are covered under CDW and have a valid claim

Scenario 1: Company agrees to shoulder the excess
You pay: $500 + 107%(GST AMT) = $535  to the rental company.
Gigacover pays to the company: ($1500 + $2000 + 107%(GST AMT))- $535 excess = $3,210

Scenario 2: Company does not agree to shoulder excess
You pay:($1500 + $2000)  + 107%(GST AMT) = $3745 to the rental company.
Gigacover pays to you: ($1500 + $2000 + 107%(GST AMT))- $535 excess = $3,210

No, you do not have to, if:

1. You give us the permission to pay the approved amount straight to your rental company; and
2. Your rental company approves this arrangement,

You can pay just the 1st $500 (+ GST) excess to your rental company, and Gigacover will pay the rest you are liable for straight to the rental company on your behalf if the claim is valid and approved.

We know you do not want to have to pay thousands of dollars of excess to your rental company before submitting a claim and waiting days or weeks before getting the money reimbursed to you. This is why we’ve structured CDW to support this arrangement.

The CDW policies are one month long, with monthly auto-renewal. Think of it like a subscription plan, similar to Netflix or Spotify. If you want to stop your coverage, you can log in to your Gigacover account, go to CDW, and turn off auto-renewal.

The insurer unfortunately will not be able to provide a refund for the early termination of your month-long CDW policy.

Most standard insurance policies are 1 year long and do provide some refund (with penalty) if it’s terminated early. We structured CDW such that you just pay month-by-month, and you can stop your coverage at any time, no questions asked, and we’ll not bill you for the next month.

You can email us at any time at [email protected] should you need help with stopping your coverage or changing your details!

There are some important conditions that must be met for your claim to be valid. Some key conditions (non-exhaustive) that must be met include:

1. Your accident must have happened in Singapore,
2. Your accident must have happened after your CDW policy start date,
3. You must not have had claimed for a prior accident under the same 1-month CDW policy,
4. You, the insured party under CDW, was the driver of the vehicle that got into the accident, and
5. Your CDW policy does not cover MORE than the maximum excess liability stated on your rental contract

You can refer to the full policy wording for more details!

Should you have more questions, you can send us an email at [email protected]!

You should not purchase a CDW policy with higher excess than the maximum excess liability stated on your rental contract. In the event of a claim, the insurer will not be able to pay more than the excess indicated on your rental contract.

We do not recommend purchasing a CDW policy with lower excess than what is stated on your rental contract.

It’s simple!

Step 1: Go to https://app.gigacover.com/cdw to buy your first policy – this takes on average 3-5 minutes

Step 2: You’ll get an email from [email protected] with your policy documents, and a link on how to log in and manage your Gigacover account.

Step 3:  Use Gigacover’s web portal to track your policy, change or stop your coverage, and submit any claims

Step 4: Every month, we’ll charge your card automatically. Remember though you can stop or change your policy coverage at any time!

You can email us at any time at [email protected] should you have any problems!

There is no need for you to open your Gigacover account all the time! Just open your account when you want to check on your policy, make any changes, or submit a claim.

Not a problem! Simply open and log in your account to your new phone with the same email and password on your new phone! You’ll see all your data restored to your new phone.

Your Gigacover account allows you to:

1. Check your policy details, including policy number, coverage, and period of insurance
2. Change or stop your coverage
3. Submit a claim
4. Change some personal details – though for your security we may require you to email us if you are requesting to change some key details, like your name or NRIC

We’re constantly working on additional useful features, so lookout for new features coming out! We’d also love to get your feedback on what features you’d like on the app. Simply drop us an email at [email protected].

Sorry about that! Some requested changes may take a while to reflect on your account, potentially up to 24 hours. If you still notice missing data or inaccurate data, please feel free to drop us an email at [email protected].

The same credit or debit card you used when you paid for your 1st policy will be charged automatically 2 to 4 days before the end of your current policy unless you choose to stop or cancel your policy.

We will inform you as soon as possible if we are unable to make a deduction on your card, so as to minimize the possibility of you losing coverage.

Please drop us an email at [email protected] should you have any problems with this!

Apologies for the inconvenience! Please drop us an email at [email protected] if this is the case. We will investigate the case promptly, and process any refund needed.

If you would like to update your credit or debit card information, kindly follow the instructions:

• Log in to your account here
• Go to the account tab, and click “Payment Methods”
• Input the new details securely and click “Save”

If you still need help, please drop us an email at [email protected]

The insurer unfortunately will not be able to provide a refund for the early termination of your month-long CDW policy.

Most standard insurance policies are 1 year long and do provide some refund (with penalty) if it’s terminated early. We structured CDW such that you just pay month-by-month, and you can stop your coverage at any time, no questions asked, and we’ll not bill you for the next month.

You can email us at any time at [email protected] should you need help with stopping your coverage or changing your details!

You can do so conveniently via Gigacover’s web portal here – most people who have their documents ready take no more than 5-10 minutes to complete this process.

Please see below documents at Q2 that need to be submitted as part of the claim process.

If you are unable to submit your claim or need any help you can always send us an email at h[email protected].

Please also note that as part of the claims handling process, Etiqa / Gigacover may request additional documentation to support the claim, at your cost.

The documents we will require from you include, but are not limited to:

1. Rental Contract between you and your car rental company;
2. The original invoice for the total amount payable by you to your rental company;
3. GIA report on the accident (this is a standard requirement for all accidents under the Motor Claims Framework (MCF);
4. Certificate of insurance for the vehicle you were driving that was involved in the accident;
5. Photographs depicting damages of the vehicle;
6. Photographs after repair of the vehicle (if available);
7. Copy of identity card, driving license, and TDVL / PDVL; and
8. Police report if required under the Motor Claims Framework (MCF).

In addition to the above documents –

1. If payment is to be made directly to rental company:
   1. A signed letter of authorization (LOA), allowing Etiqa / Gigacover to make payment on your behalf to the rental company if the claim is approved
2. If payment is to be made to you after you have paid your rental company:
   1. Settlement confirmation/discharge voucher from your rental company, indicating that you have paid them
   2. Documentary proof to show that excess was paid by you to the rental company

If GST is applied to the excess you need to pay, you will need to pay the GST on the 1st $500 excess. Etiqa will pay the remaining excess payable, including GST applied on that amount.

In the case of an accident, assuming

1. Rental company charges GST of 7%;
2. Your rental contract states that you are liable to pay Section 1 excess of $1500 (+ GST) and Section 2 excess of $2000 (+ GST) to the rental company
3. You are covered under CDW and have a valid claim

You pay: $500 x 107% = $535 to the rental company

AXA / Gigacover pays: ($1500 + $2000 – $500) x 107% = $3210

The insurer will begin processing the claim immediately, and you’ll get to see updates on the status of your claim using Gigacover’s web portal.

We may contact you if more information is needed to process your claim.

If you’re concerned about the status of your claim you can always email us at [email protected], and we’ll respond to you as soon as we can – we understand it’s important to have an answer fast!

To keep premiums affordable for most customers and to minimize the chance of abuse or fraud, some exclusions apply. Some key examples (non-exhaustive) of exclusions that will not be claimable include

1. If your accident happens outside of Singapore
2. If the accident happened before the start of your CDW policy coverage
3. If you had already claimed for 1 accident for that 1-month long CDW policy, and have not purchased a new policy
4. If you are the insured party under CDW but were not the driver of the vehicle that got into the accident
5. If you bought a CDW policy with MORE coverage than the maximum excess liability stated on your rental contract

You can refer to the full policy wording for more details!