General Insurance Agencies for Contractors, Architect, Interior Designers

Looking for a general insurance agency broker for your customers? If you are renovation contractors, or construction A & A contractors, architect firms or interior designers, you want an ideal insurance agent or agency to help your clients and yourself with their project coverage.

(Additional & Alterations works for construction refers to projects that alter or adds on to a current building)

Insurance coverage that your construction clients may need to buy for themselves

  • Contractors All Risks
  • Public Liability

Protection Plans that your construction company need to buy

  1. Work Injury Compensation (Compulsory by Ministry of Manpower aka MOM)
  2. Foreign Workers Medical Plan (Compulsory by Ministry of Manpower aka MOM)
  3. Performance Bonds (Usually requested by large clients)
  4. Public Liability
  5. Professional Indemnity

As long as you are dealing with construction, renovation, architect or interior designs, you may prefer to speak to a professional insurance brokerage to have professional specialist services render to your clients and you.

Work Injury Compensation and Foreign Workers Medical Plans are required.

These are compulsory insurance mandated by the government, Ministry of Manpower. You may as well get the best price and service from a broker to get better service at lower price.

Performance Bonds are very important for big clients, vendors who need assurance of quality for construction projects. You may need a professional expert to ensure performance bonds are done nicely that does not hinder your cashflow needs.

How can I get faster or instant quotes for Contractors All Risk?

Contractors who are pressed for time due to the tight schedule requested from clients may want to get their insurance cover note or cover letter fast and quick so that they can start work.

We are specialist in the construction field and we have tied up with more than a few insurers to get instant quotes and delivery of cover note so that your workers can start work and the project can proceed without delays.

You can get contractors all risk policy cover within minutes. Just email, whatsapp or call us with your details.

Commissions or referral fees for insurance on projects

We work in the long run to provide good customer services and great partnership that are win-win for all parties.

Not only do we provide affordable and competitive quotes for your clients and you, we can also provide great incentives too to the construction, renovation or interior designer firms.

We pride ourselves on finding excellent incentives for our partners to use us for the long term.

You can always reach us at our mobile phone: +65 8163 1130 (Call, SMS or Whatsapp)

You can email us at sales@hminsg.com too

Motor Insurance Agency for Car Dealerships

We are motor insurance agency brokers who can work with car dealerships to provide comprehensive or third party fire and theft, third party only auto insurance for their customers.

What if we can provide 100% of commission to you and still provide great and responsive services to you?

HM Consultancy can provide a full commission to all car dealers and even strike a cut for your car dealer from the 2nd year onwards.

Car Insurance experienced with new or secondhand car dealers

We have operated for years with both secondhand refurbished car dealers as well as new car dealers. Many established car parallel importers choose us for all their insurance needs as we provide full commission and great follow up services together with more commission in the future.

If you are a car dealer who wants better business in Singapore, do note our advantages.

Advantages for Car Dealers working with us

  1. Fast and efficient
  2. Queries, quotes, and help within minutes
  3. Dedicated service team to each car dealer
  4. Experienced in servicing small car dealers of 2-3 cars to car dealers of 350 cars
  5. Incentives for car dealers

We used to manage cars and fleets, so we understand what Singapore car dealerships want. Fast, SWIFT, QUICK quotes for your car insurance questions and answers.

Fast Motor Insurance Quotes for Car Dealers

We have a dedicated department that specializes in working with car dealers so that you can obtain FAST quotes and services in Singapore.

You can send all vehicle quote requests and inquiries via email, SMS, WhatsApp or direct calling our office line and we will respond fast.

Our team of auto insurance agents and admin officers will also help with your queries, paperwork, and all hassles so that you can focus on your car sales and customer services. Leave the general insurance to us

Is there Referral and Commission for Car Dealerships?

Concerned about referral and commission fees for your businesses?

We aim for excellent customer service and great incentives to all car dealerships because we aim for volume bonus on our total pooled business.

You can benefit together with us by pooling your business with us, we will provide a healthy referral to you guys.

Do Car dealers prefer in-house insurance to earn their own commissions and fees?

Yes, in the past. In the past, car dealers prefer to have their in-house agents so that they are able to earn and keep most of the incentives and bonus for themselves as an additional profit stream for their buy and sell businesses.

However, this is no longer attractive currently. Motor insurance premium has dropped, and the commission margin and incentive is low and not so worth it. There are hassles and costs of human resources in developing and maintaining good experience agents in the company and it is not worth the lower referral fees now.

Furthermore, in-house agents are not up-to-date with many insurers and the queries and response to customers are slower than if you partner with a specialist. We are the specialist that can give a much better customer experience to your clients and you.

Focus on your car trade while we focus on you, with great incentives for you too!

Small or Large Car Dealers?

Motor Insurance Agent for Car Dealers

Motor Insurance Agent for Car Dealers

We have worked with small scrap car dealers that manage only 1-2 cars in their inventory, and even startups that are not holding car inventories.

We have also worked with big car dealers with tens and hundreds of vehicles like lorry, van, truck.

We understand different dealerships have different needs and we have personals that have the skill and experience to give good, fast, and responsive service to clients.

Wide range of motor insurance

We deal with more than a few insurers so we have a range of different car insurance for your differing customers. From comprehensive premium motor insurance to affordable third-party policies, we can provide different quotes to meet your different customers’ needs.

  • Comprehensive auto insurance
  • Third Party, Fire and Theft
  • Third Party Only

Third Party covers any other car or person that is involved in an accdident with you, but excludes coverage of the cost of your own car. Third Party, Fire and Theft is like third-party AND the additional coverage of protecting your car from damages or loss via fire or theft. Comprehensive means covering 3rd party, fire and theft AND also damage and losses on your own car from an accident.

If your car dealership handles different sort of vehicles in Singapore, you will be glad that we have the expertise for them. We deal with many types of vehicle insurance from

  • Commercial auto fleet for lorry, trucks, vans, cars
  • Private car
  • Class 3A, 3C, 3CA, 3 for all types of cars
  • Class 4A for Omnibuses
  • Class 4 for heavy motor vehicles of unladen weight exceeding 2500 kg
  • Class 5 for heavy motor vehicles of unladen weight exceeding 7250 kg

So if you are a car dealership or handling cars and wish to have a partner for general insurance, Whatsapp or Call us on our mobile phone: +65 8163 1130
Email us at: sales@hminsg.com

Life Insurance Manager: How to Be our General Insurance Agent

For life insurance agency manager or life insurance adviser, getting a general insurance certification and partner is part and parcel of expanding your career path and improving your range of products and sources of passive income.

Why are so many general insurance advisers stay in this career much longer than life career agents?

Passive income from passive commission.

General insurance products are designed to last, and the commission brackets are designed to give income to the agent as long as the product is renewed.

This gives a great incentive for the general agent to stay, give great service to his clients and receive stable income monthly.

Life insurance commission halved from first year commission to 2nd year, and go to pathetic single digital commission level after 2nd year. General insurance commission usually maintains the same level as the first year commission year after year.

A typical motor insurance may stay with the motorist for 10 years. A personal account stays for decades.

Group policies and business packages stay with the companies for years and decades.

Stable, passive commission year after year after year.

 

How to become a certified general insurance agent in Singapore?

There are many life insurance advisers who want to get a general insurance license to provide a wider range of products to your clients. An agent will seem to be less completed if his clients called him and ask for help with his motor insurance or corporate public liability coverage and the life agent has to sheepishly confess he is unable to handle it personally.

The good news is, getting to be a professional General Insurance agent is not difficult.

Who can be a general insurance agent? How do you become a certified agent?

All you need is:-

  1. be at least 18 years of age,
  2. be a Singapore citizen/PR or a foreigner with a valid Work Permit
  3. possess at least 3 GCE “O” Level credit passes.
  4.  You must possess the following professional qualifications:
  • Basic Insurance Concept and Principles (BCP)
  • Personal General Insurance (PGI)
  • Commercial General Insurance (CGI)

How long does it take to become an insurance agent?

The 3 certificates BCP, PGI and CGI are simple exams that are taken with Singapore College of Insurance (SCCI). You can choose to take them on your own or arrange with a General Insurance broker or insurer to take these exams.

Studying for General Insurance for more money

Studying for General Insurance for more money

 

You can finish these examinations within a few weeks. Each examination will provide a certification on the spot when you finished the paper with passing grades.

How much does a general insurance agent make in Singapore?

A general insurance agent’s commission may not seem as high as a life insurance consultant of an average of 40% and can reach a high of 60% for some products, but the good news is General Insurance product commission are perpetual.

Most general insurance products range from 10% to 25% but the good news is the commission level stays the same even for the 2nd, 3rd, 4th or N-th years. This makes general insurance a very attractive stable passive income for the long term.

And every year can get mooncake gifts from bosses too. 😉

How much do commercial general insurance agents make?

It is not uncommon for senior General insurance advisor to have 6 figures annual income just from old and recurring general insurance commission. This is amazing considering that life insurance commission usually only last 4 to 6 years.

Is it hard to sell general insurance?

Do you know Singaporeans who have cars and is compulsory to buy motor insurance yearly? Do you know Singaporeans who travel and need travel insurance? Do you know friends and families who own small businesses such as food and beverage cafe, restaurants, retail shops, trading companies, online businesses? Would you have friends who live in HDB, condos or landed properties?

General insurance needs exist in our daily lives and is more prevalent than life insurance, hence the name “general” insurance.

is it tough to sell something that everyone uses every day? It is a lot easier than most people think.

Life Agency Manager, You need a General Insurance partner!

General Insurance for all life agents managers

General Insurance for all life agents managers

If you are an agency manager of life insurance, you definitely should get a GI insurance partner where we can provide simple and complicated general insurance quotes for your established client base as well as for clients of agents under your agency.

Your new agents may have friends or family that request for quotation of complicated corporate or general insurance and it would seem unprofessional if you are unable to clinch this business for your agents. Do speak to us on how we can partner together.

Do contact us via cw@hminsg.com or WhatsApp : +65 8163 1130 for if you are a financial advisor who is determined to strengthen your career path in this industry. We provide a comprehensive range of general insurance products for your business!

What is group health insurance, the advantages and costs?

Group insurance is when a group of people is gathered for a common reason such as work, social hobby or interests and they can pool together their numbers for medical,  health insurance that would be a lot cheaper than individual health insurance.

Group insurance offers a great benefit for staff and gives them extra reasons to stay in the same company as their insurance coverage is only when they are in the existing workplace (or club, social group, etc).

How does group insurance work?

When people gathered for work, social or leisure reason, they have numbers and can offer economies of scale to insurers to sell them coverage to all of them, for a bulk discount.

The most common group health insurance would be due to the workplace, where either the company pays for the group health insurance as a benefit or the staff pays for the cheaper insurance with part of their salary.

Group insurance is also available for people joining together for sports, leisure, hobbies or social reasons such as dancing, board games, gardening, discussion groups also. The bulk discount offered for group health insurance makes it a lot cheaper than individual insurance.

Group Insurance is Group Buy Discount

Group Insurance is Group Buy Discount

Is group insurance only limited to group healthcare insurance?

There is other numerous group insurance such as group life, group personal accidental, group dental coverage, a group critical illness. These are usually offered with a great discount too on top of the group health coverage.

What is group health plan insurance or GHP?

This is the most common form of group insurance, that covers hospitalisation and surgical costs, as well as certain outpatient. GHP can include additional healthcare benefits such as critical illness benefits, generous outpatient benefits, etc.

What are the benefits of group insurance?

Cheaper premiums, no exclusion of pre-existing medication conditions are 2 great advantages compared to the usual insurance. Also, it is easy to implement with no lengthy questionnaires and data collection required for a large group.

What is the difference between individual and group health insurance?

You can only buy group insurance via a large group (of at least 3 members). Group insurance can cover pre-existing conditions due to a large number, and also offer cheaper premiums per person.

Is group insurance cheaper than individual? Is health insurance cheaper through work?

Yes. There are great benefits to Group Insurance! The premiums would be much cheaper than individual health insurance. Due to the group buy, each group can tailor their own customised health group coverage that they desire.

Is pre-existing conditions included for group health insurance coverage?

Yes, it can be included for some group insurance. If the number of participants is large enough, each individual can have their pre-existing coverage included, with some limitations or deductions. This is much better than buying individual medical health insurance where his/her conditions would be flatly excluded.

Can I get group health insurance? What is the minimum number to buy group insurance in Singapore?

Group Insurance policies only need 3 people

Group Insurance policies only need 3 people

The minimum in Singapore is usually 3, especially to cater to small SMEs in Singapore that has a small number of workers. Even if the staff are family relatives and friends, it can be considered for GHP or group health plans. This provides an effective and cheap way to purchase insurance coverage for everyone working in the business.

What is the Aviva Mindef group insurance?

Aviva Mindef Group Insurance is large group insurance in Singapore that is famous for low cost as it allows SAF soldiers and NSmen to join in this “group buy” of insurance for lower premiums. The coverage is basic minimal and serves to protect against simple catastrophic events such as premature death, critical illness, and personal accident.

Unfortunately, Aviva Mindef Group Insurance does not offer group health on it own as it designed to be affordable and cheap for most. Any inclusion of healthcare medical bill coverage will increase the premium payable.

Aviva Mindef Group Insurance is the best value for money group insurance in Singapore. Do get your coverage if you have the good luck to be covered by Aviva.

You may like to contact us via sales@hminsg.com or WhatsApp: +65 8163 1130 for any group policies in Singapore. We tailor customized plans to suit your value-for-money request. Because we work with General Insurers, the premiums you paid are much lower than other insurers.

Do you need renovation contractors all risk insurance?

Yes, you need contractor all risk insurance for renovation because the financial amount that can be lost due to construction mistakes can be large. A simple renovation accident such as a damaged pipe or broken tiles can lead to huge financial expenses.

Even if your client may be reluctant, these benefits will shine out once he understands the benefits of preparing for business continuity for construction sites.

What are contractors all risk insurance?

Contractors All Risk or CAR insurance is a non-standard policy that covers property accidental damage and loss, third party damage or injury claims and works injury compensation to workers on site.

CAR insurance is for all construction projects, be it a simple $10,000 project or a $10m infrastructure works. You should have CAR for all BCA construction grades.

What does contractor all risk insurance cover?

  1. Property damages can mean improper construction of structures, damage that happens during renovation or retrofitting, or caused by temporary works erected on-site.
  2. Third parties damage or injury claims can refer to damage and claims suffered by neighboring residents, subcontractors etc.
  3. Work injury means injury suffered by workers, engineers, managers as well as subcontractors while on the contractor project.

Does contractor all risk insurance cover defective workmanship?

Renovation Contractors All Risk Package

Renovation Contractors All Risk Package

No, most CAR insurance does not cover construction defects or defective workmanship. You may do a request for such an add-on with your insurance broker to see if it can be catered for.

If you opt for such coverage of faulty workmanship, there is a period of time for this coverage and any defects that started after the coverage ends will not be covered.

Who needs contractors all risk insurance?

Designer, renovation contractors, engineers and A&A construction firms.

Simple renovation works for HDB flat, condos and landed houses all require contractors all risk insurance to safeguard against damage to nearby properties due to Singapore’s dense built up.

A&A (Alterations and Additional) construction projects will require such insurances to protect the clients against any third party claims or own property damages.

When you are renovating or doing small construction jobs, most of us either contractors or clients will wonder if we do need renovation Contractors All-Risk insurance. This is quite common as many contractors like to faster get the job done and skip the paper work and premiums (CAR can actually be done in Singapore instantly and fast within 1 day)

Construction Contractors All Risk Insurance

Construction Contractors All Risk Insurance

Is contractors all risk insurance expensive?

Not at all. The premium is low compared to the repairs that would have been out of your pocket if you encounter bad accidents. It is based on the job scope and size so the premiums are affordable and proportional to the project size.

If you are a contractor, you do not want a small job to be the downfall and bankruptcy of your firm. If you are a homeowner, you do not want the tiny probability that a small construction accident leads to a big financial disaster to your life.

 

Can you quote and start the policy in 1 day?

Yes, if you are in a rush for your client to start work, we can help you settle the CAR package in 1 day! Our insurers understand that time is money and we can produce contractors all risk policy cover letter within the same day.

Call us for general insurance quotes or whatsapp : +65 8163 1130
Email: sales@hminsg.com