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Best Car Insurance Singapore (2024): Price & Benefits Comparisons

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Best Car Insurance Singapore (2024): Price & Benefits Comparisons


So you’ve done the math and figured that you can afford the monthly cost of a car comfortably!

Now comes the next cheem (Hokkien for complex) part: car insurance. Why do you need car insurance?

Because… it will be helpful when your car’s tires and rims were stolen. Worse still, car accidents can leave you permanently disabled and in an unfortunate event, death.

If you’re going to own a car, it’s mandatory under the Motor Vehicles (Third-Party Risks and Compensation) Act for all vehicles on Singapore roads to have at least third-party insurance coverage.

But, buying a car insurance policy can be a lengthy, complex, and downright expensive undertaking!

Just looking at the 2019 Singapore Business Review, the average cost of car insurance is around $862.

To help make things slightly easier, we’ve created this ultimate guide so you can figure out which is the best car insurance for you.


TL;DR: Which Is the Best Car Insurance for Me?

First, based on the insurers we mentioned below, you should be prepared to fork out anywhere from $700 to $1,300.

Do note that the premium will depend on your age, No Claim Discount, and years of driving experience.

Here’s a quick summary of car insurers and their annual prices:

Click here to jump:

 

Disclaimer: The Information provided by Seedly does not constitute an offer or solicitation to buy or sell any insurance product(s). It does not take into account the specific objectives or particular needs of any person. We strongly advise you to seek advice from a licensed insurance professional before purchasing any insurance products and/or services.


Car Insurance Terminologies in Singapore

For starters, these are some terminologies that will be useful to pick up throughout the article.

Also, car insurance is typically purchased annually, but you may choose different payment plans and renewal periods based on their needs and preferences. This is the typical process:

  • Annual Policies: Car insurance policies in Singapore are typically issued for one year and drivers need to renew their policies annually
  • Renewal Notices: Insurers usually send renewal notices to policyholders a few weeks before the policy’s expiration date, reminding them to renew their insurance
  • Payment Plans: While the standard practice is to pay for the full year upfront, some insurers may offer monthly or quarterly installment plans. However, paying in installments might incur additional fees or interest.
  • No Claim Discount (NCD): NCD is given to drivers who have not made any claims against their car insurer. This increases every year and can add up to savings on their insurance premiums over time. In the event that drivers made a claim, their NCD discount can be reduced or lost altogether.

An NCD Protector is often an optional add-on to help prevent this loss and allows drivers to make one or more claims against their policy.

  • Excess & Deductible: When you file a claim with your car insurance provider, you must pay an excess. If you are at fault for causing the damage to your car, a specific amount, also known as the deductible, will be subtracted from the insurance proceeds you are claiming for.

Car Insurance Comparisons in Singapore

For the sake of comparison, I chose a Toyota model since the company topped 2023’s new car sales.

  • Model: Corolla Atlis 1.8,1,789cc, Sedan
  • Registered: 2023
  • Driver age: Born in 1990
  • Occupation: Accountant/Auditor
  • Driving experience: 5 years
  • No. of fault claims in the past 3 years: 0
  • NCD%: 50%
  • Peak/Non-peak: Peak

AIG Car Insurance

As AIG’s website advertised: “99.9% of motor claims approved, fast claim approval within 1 working day”, you can possibly expect your claims to be approved rather swiftly.

  AIG Car Insurance Collision AIG Car Insurance Complete
Own Damage
Cover for damage or losses to your vehicle that is caused by an accident
As Market Value (In the event of a collision with another vehicle only) As Market Value
Fire
Cover for damage or losses to your vehicle that is caused by fire
As Market Value (In the event of a collision with another vehicle which resulted in the fire) As Market Value
Authorised Driver
Any driver with a valid driving license and driving with your permission
Within your household only Within your household only
Damage to Third-party Property Up to $5,000,000 Up to $5,000,000
Death or Injury to Third-party Unlimited Unlimited
Taxi Reimbursement Not covered Not covered
Towing Costs Up to $500 Up to $500
Authorised Repair Limit Up to $500 Up to $500
Legal representation and defense Covered Covered
New for Old Replacement Car Not covered Not covered
Courtesy Car Not covered Not covered
Loss of Use or Daily Transport Allowance Not covered Not covered
24/7 roadside Assistance Not covered Not covered
Lifetime Warranty Not covered Not covered
Windscreen Cover Not covered Excess of $100 + GST
Choice of Workshops for Accident Repairs AIG-appointed workshops only AIG-appointed workshops only
Personal Accident Not covered Not covered
Medical Expenses Not covered Not covered
Additional Excess for Driver(s) Age ≤ 23 and/or has less than 2 years of driving
experience: $3,000 + GST
Age ≤ 23 and/or has less than 2 years of driving
experience: $3,000 + GST
No Claim Discount If the NCD is 40% or 50% at the time a claim is made, the NCD will be reduced to 10% or 20%, respectively. If the NCD is 30% or less, the whole NCD will be cancelled.
Price $1,060.73 $1,302.31
Sign Up Now Apply Now Apply Now

AIG Car Insurance Highlights

  1. Excess waiver of up to $1,000 for in-car-camera video footage during accidents to help with fraudulent claims
  2. Age condition policy where you can lower your premium by limiting coverage to drivers aged 30, 35, or 40 years and above.
  3. AIG Car Insurance (Complete) refunds 80% of the premium less a pro-rated amount to cover the period when you were covered if you decide to cancel the plan

Our Recommendations

The AIG Car Insurance is a great option for those with family members who drive as it automatically covers your family members with no additional charges.

AIG Car Insurance Review

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Allianz Car Insurance

Allianz has three standard plans ranging from Third-Party Only to a Comprehensive plan.

 

  Allianz Motor Protect (Third-Party Only) Allianz Motor Protect (Third-Party Fire and Theft Only) Allianz Motor Protect (Comprehensive)
Loss Or Damage To Car By Accident Not Covered Not Covered Covered
Loss Or Damage To Car By Fire And/Or Theft Only Not Covered Covered Covered
Taxi Reimbursement Not Covered Not Covered Up to $100 per accident or breakdown
Towing Costs Not Covered Not Covered Up to $500 per accident or breakdown
Authorised Repair Limit N.A. N.A. Up to $350 per accident
Choice of workshops for accident repairs Allianz-appointed workshops only unless you have option cover of “Repairs at preferred workshop”
Damage to Third-party Property Up to $5,000,000 per accident
Death or Injury to Third-party Covered
Legal Representation And Defense Up to $3,000 per accident
Additional Excess for Driver(s) ≥ age 27: $500
New for Old Replacement Car Not Covered Not Covered Covered if your car is less than 2 years old and damaged beyond repair
Courtesy Car Not Covered Not Covered Covered (Up to 10 days per accident or breakdown)
Loss of Use or Daily transport allowance Not covered Not covered $50 per day, up to 10 days per accident
24/7 roadside assistance Not covered Not covered Covered
Lifetime Warranty Not Covered Not Covered Covered (If repaired at an authorised workshop)
Windscreen Cover Not Covered Not Covered Unlimited
Personal Accident Not Covered Not Covered Optional: Up
to $1,000 per passenger
Price $694.57 $740.87 $926.09

Allianz Car Insurance Highlights

  1. Provides personal accident coverage for passengers (comprehensive plan only)
  2. Complimentary 24/7 emergency assistance

Our Recommendations

The plan is value-for-money given that it tries to provide as much coverage as possible

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Budget Direct Car Insurance

Source: Budget Direct

A relatively new contender in the car insurance industry, Budget Direct specialises in car, motor, and travel insurance.

The company offers three plans:

  Budget Direct Third-Party Only Budget Direct Third-Party Fire and Theft Budget Direct Comprehensive
Loss Or Damage To Car By Accident (if someone crashes into you) Not Covered Not Covered Covered
Loss Or Damage To Car By Accident (if you are at fault) Not Covered Not Covered Covered
Loss Or Damage To Car By Fire And/Or Theft Only Not Covered Covered Covered
Taxi Reimbursement N.A. N.A. N.A.
Towing Costs Not covered $500 for overseas tow, $200 for local tow $500 for overseas tow, $200 for local tow
Authorised Repair Limit N.A. N.A. N.A.
Damage to Third-party Property Up to $5,000,000
Death or Injury to Third-party Unlimited
Legal Representation and Defense Up to $3,000
New for Old Replacement Car N.A. N.A. N.A.
Courtesy Car N.A. N.A. N.A.
Loss of Use or Daily Transport
Allowance
Not covered Optional: Up to $50 per day (max. 10 days per accident) Optional: Up to $50 per day (max. 10 days per accident)
24/7 Roadside Assistance Not covered Optional Optional
Lifetime Warranty N.A. N.A. N.A.
Windscreen Cover Optional Optional Covered
No Claim Discount Available for customers with NCD of 30% and above Available for customers with NCD of 30% and above Available for customers with NCD of 30% and above
Choice of Workshops for Accident Repairs N.A. Optional Optional
Additional Excess for Driver(s) Policy Excess (as shown on Certificate of Insurance): $600

Unnamed Driver

Named Driver

Named Driver with less than 2 years driving license: $1,500

Personal Accident Optional: Up to $100,000 Optional: Up to $100,000 Optional: Up to $100,000
Medical Expenses Optional: Up to $500 Optional: Up to $500 Optional: Up to $500
Price

$343.79 (incl. GST)

$422.02 (incl. GST) $550.66 (incl. GST)
Special features Good for overseas driving: Covers up to $1,000 for towing and $200 per person, plus emergency phone calls up to $100. If you or your passengers are seriously injured and need to be evacuated we’ll pay up to $25,000 per person

Budget Direct Car Insurance Highlights

  1. Good for budget-conscious seasoned drivers
  2. If found that their quote is higher than other insurers, BudgetDirect would pay you $100 (terms & conditions applied).

Our Recommendations

  • Although less robust compared to other insurers, the plan is value-for-money for seasoned and older drivers.

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DirectAsia Car Insurance

DirectAsia has three insurance plans that fit almost any driver, requirement, and age. Here are the core plans you can start with:

  DirectAsia Third-Party Only DirectAsia Third-Party Fire and Theft DirectAsia Third-Party Comprehensive DirectAsia SOS Car Insurance
Loss Or Damage To Car By Accident (if someone crashes into you) Not covered Not covered Up to Market Value Up to Market Value
Loss Or Damage To Car By Accident (if you are at fault) Not covered Not covered Up to Market Value Up to Market Value
Loss Or Damage To Car By Fire And/Or Theft Only Not covered Up to Market Value Up to Market Value Up to Market Value
Taxi Reimbursement N.A.
Towing Costs Not covered Up to $200 in Singapore Up to $200 in Singapore Up to $200 in Singapore
Authorised Repair Limit N.A.
Damage to Third-party Property Up to $5,000,000
Death or Injury to Third-party Unlimited
Legal Representation And Defense N.A.
New for Old Replacement Car N.A. Optional: Covers the cost of replacing the car Optional: Covers the cost of replacing the car N.A.
Courtesy Car N.A.
Loss of Use or Daily transport Allowance N.A. Optional: $50 per day
(max. 10 days per accident)
Optional: $50 per day
(max. 10 days per accident)
Optional: $50 per day
(max. 10 days per accident)
24/7 Roadside Assistance N.A. Optional: Labour and towing costs Optional: Labour and towing costs N.A.
Lifetime Warranty N.A.
Windscreen Cover Not covered Replacement or repair costs Replacement or repair costs Replacement or repair costs
Choice of Workshops for Accident Repairs N.A. Up to market value at authorised workshops Up to market value at authorised workshops Up to market value at authorised workshops
Personal Accident Optional: Up to $500,000 Optional: Up to $100,000
Medical Expenses Optional Up to $3,000 per person Optional: Up to $500 per person
No Claim Discount Optional: One claim per policy period Optional: One claim per policy period Optional: One claim per policy period Optional: One claim per policy period
Additional Excess for Driver(s) N.A.
Price $593.03 $727.46 $935.67 N.A.
Special features Covers Singapore, West Malaysia, and Southern Thailand (this is part of Thailand within 80km of the border between Thailand and Malaysia).

Also covers you when your car is crossing the straits between Singapore and Tanjung Belungkor, Johor, and when you cross the straits between West Malaysia and the Malaysian islands offshore of West Malaysia.

DirectAsia Car Insurance Highlights

  1. SOS car insurance (a DirectAsia-only offer) if within the last 3 years, you or any of your drivers had 2 or more at-fault accidents OR had your/their insurance refused or terminated
  2. Covers Singapore, West Malaysia, and Southern Thailand (this is part of Thailand within 80km of the border between Thailand and Malaysia)

Our Recommendations

  • Cheaper premiums as you’ll only be opting in for the features you want
  • The NCD60 discount is a no-brainer for safe drivers, it’s also an immediate benefit unlike ‘for life’ NCD schemes where you will only see the benefit in the unfortunate event that you have to make a claim.

DirectAsia Car Insurance Review

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Hong Leong Car Protect360 Car Insurance

As compared to other insurers, Hong Leong Assurance only has one plan but it has quite an extensive coverage.

  Hong Leong Assurance
Loss Or Damage To Car By Accident Up to market value at time of loss or damage
Loss Or Damage To Car By Fire And/Or Theft Only Up to market value at time of loss or damage
Taxi Reimbursement N.A.
Towing Costs Up to $500
Authorised Repair Limit Up to $300 (limit is after Policy Excess)
Damage to Third-party property Up to $5,000,000
Death or injury to third-party Unlimited
Legal representation and defense N.A.
Additional Excess for Drivers (s) N.A.
New for Old Replacement Car N.A.
Courtesy Car N.A.
Loss of Use or Daily Transport Allowance $50 per day, up to a total of $1,000
24/7 Roadside Assistance Covered
Lifetime Warranty N.A.
Windscreen Cover Unlimited (Excess at $100 if not at authorised workshop)
No Claim Discount N.A.
Choice of Workshops for Accident Repairs Excess is halved at authorised workshops
Personal Accident Policyholder: Up to $20,000

Authorised Driver: Up to $10,000

Passengers: Up to $10,000

Medical Expenses Up to $1,000 each
Price $1,152.37 (incl. GST)
Special features Covers Car accessories: Up to $1,000

Hong Leong Car Protect360 Car Insurance Highlights

  1. Freedom to choose your own workshop but if you choose to visit an HL Assurance authorised workshop, you get the assurance that genuine manufacturers’ parts are used and it comes with a 9-month repair warranty
  2. Own Damage Excess is halved when you choose to repair your vehicle at any of the HL Assurance-approved workshops
  3. Provides free car servicing/grooming with purchase of any new car insurance policy

Our Recommendations

  • Not much flexibility in customisation of NCD protector; it is also an optional benefit and applies only to policyholders of 50% NCD

Hong Leong Car Protect360 Car Insurance Review

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Income Drivo Car Insurance

NTUC Income has three comprehensive plans to choose from, one of which is specifically for Porsche owners.

  Income Drivo Classic Income Drivo Advantage Income Drivo Premium
Loss Or Damage To Car By Accident Up to market value at time of loss or damage Up to market value at time of loss or damage Up to market value at time of loss or damage
Loss Or Damage To Car By Fire And/Or Theft Only Up to market value at time of loss or damage Up to market value at time of loss or damage Up to market value at time of loss or damage
Taxi Reimbursement N.A.
Towing Costs Up to $500
Authorised Repair Limit N.A.
Damage to Third-party Property Up to $5,000,000
Death or Injury to Third-party Unlimited
Legal Representation And Defense N.A.
New for Old Replacement Car N.A.
Courtesy Car N.A.
Loss of Use or Daily transport allowance Optional: $50 per day (max. 7 days)
24/7 Roadside Assistance Optional: $8.72/year
Lifetime Warranty N.A.
Windscreen Cover Unlimited (Excess at $100)
No Claim Discount Available for customers with NCD of 10% and above
Choice of Workshops for Accident Repairs Authorised workshops only Drivo Advantage authorised workshops only Any
Personal Accident Up to $50,000
Medical Expenses Up to $1,000
Additional Excess for Drivers(s) Unnamed driver is

Unnamed driver is 27 years old and above with one or more year’s driving experience: $500

Price $897.45 $1,076.94 $1,253.15

NTUC Income Drivo Car Insurance Highlights

  1. Orange Force: a first-aid trained Orange Force rider will arrive within 20 minutes to provide advice, take photos, record your statement, ensure your safety, assist in removing your vehicle (if necessary), arrange for alternative transportation or medical attention.
  2. Unlimited windscreen coverage

Our Recommendations

  • Opt for Drivo Classic if you have an older car and don’t mind going to NTUC Income authorised workshops
  • Choose Drivo Premium if you have a new car under warranty and don’t see your dealer’s workshop in the list of authorised workshops
  • A great choice if you don’t mind paying a bit more for peace of mind during traffic accidents or situations

NTUC Income Drivo Car Insurance Review

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Liberty Insurance Private Car Insurance

 

Liberty Insurance keeps it simple by offering just one comprehensive car insurance.

  Third-Party Only Third-Party Fire and Theft Third-Party Comprehensive
Loss Or Damage To Car By Accident Not covered Covered Covered
Loss Or Damage To Car By Fire And/Or Theft Only Not covered Covered Covered
Taxi Reimbursement N.A. N.A. N.A.
Towing Costs Not covered Not covered Up to $300
Authorised Repair Limit      
Damage to Third-party property Covered Covered Covered
Death or Injury to Third-Party Covered Covered Covered
Legal Representation And Defense Covered Covered Covered
Additional Excess for Drivers (s) Not covered Not covered Covered
New for Old Replacement car N.A. N.A. N.A.
Courtesy Car N.A. N.A. N.A.
Loss of Use or Daily transport allowance Not covered Not covered Covered
24/7 Roadside Assistance Covered Covered Covered
Lifetime Warranty N.A. N.A. N.A.
Windscreen Cover Not covered Not covered Covered
No Claim Discount N.A. N.A. N.A.
Choice of Workshops for Accident Repairs N.A. N.A. N.A.
Personal Accident Not covered Not covered Up to $50,000
Medical Expenses Not covered Not covered Up to $1,000 per person

Liberty Insurance Private Car Insurance Highlights

  1. Loss of use benefit (Rental car up to 5 days 1.6L) for up to 5 days in the event of accident repairs

Our Recommendations

  • Great for seasoned drivers looking for basic coverage

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MSIG MotorMax Car Insurance

MSIG offers 2 auto insurance plans: MotorMax and MotoMax Plus.

  MSIG MotorMax MSIG MotorMax Plus
Loss Or Damage To Car By Accident Market Value at time of loss or damage
Loss Or Damage To Car By Fire And/Or Theft Only Market Value at time of loss or damage
Taxi Reimbursement Not Covered Not Covered
Towing Costs $500 $500
Authorised Repair Limit
Damage to Third-party Property $5,000,000
Death or Injury to Third-party Unlimited
Legal Representation and Defense Not Covered Not Covered
New for Old Replacement Car Not Covered Covered
Courtesy Car Not Covered Not Covered
Loss of Use or Daily Transport Allowance Not Covered Up to $50 per day
(max. 10 days)
24/7 Roadside Assistance Covered Covered
Lifetime Warranty Not Covered Not Covered
Windscreen Cover Windscreen cover, subject to excess of $100 for each claim: Auto reinstatement Windscreen cover, subject to excess of $100 for each claim: Auto reinstatement
No Claim Discount Offered as optional benefit and only available for customers with NCD of 30% and above
Choice of Workshops for Accident Repairs MSIG’s authorised workshops Any workshops
Personal Accident Policyholder: $20,000

Authorised driver and/or passenger: $10,000 each

Policyholder: $100,000

Authorised driver and/or passenger: $50,000 each

Medical Expenses Policyholder: Up to $1,000

Authorised driver and/or passenger: Up to $1,000 each

Policyholder: Up to $1,000

Authorised driver and/or passenger: Up to $1,000 each

Additional Excess for Driver(s) Any persons other than policyholder
 
Special Features Loan Protection Benefits: $100,000

 

Emergency medical evacuation and repatriation for accidents within the geographical area (excluding Singapore) in connection with the insured vehicle: Up to $50,000

Price $842.25 $968.60
Sign Up Now Apply Now Apply Now

MSIG MotorMax Car Insurance Highlights

  1. MotorMax Plus offers a Loan Protection Benefit that pays your outstanding car loan (up to $100,000) in the event of accidental death
  2. NCD Protector is an optional benefit and is available only to holders of 30% NCD or higher at an additional premium

Our Recommendations

  • Highly beneficial for safe drivers

MSIG MotorMax Car Insurance Review

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Singlife Car Insurance

Singlife offers three types of comprehensive car insurance plans.

  Singlife Motor Lite Singlife Motor Standard Singlife Motor Prestige
Loss Or Damage To Car By Accident Covered Covered Covered
Loss Or Damage To Car By Fire And/Or Theft Only Covered Covered Covered
Taxi Reimbursement Not covered Covered Covered
Towing Costs Covered Covered Covered
Authorised Repair Limit
Damage to Third-party Property Up to $5,000,000 Up to $5,000,000 Up to $5,000,000
Death or Injury to Third-party Unlimited, includes passengers Unlimited, includes passengers Unlimited, includes passengers
Legal Representation and Defense Unlimited, with Singlife’s consent Unlimited, with Singlife’s consent Unlimited, with Singlife’s consent
New for Old Replacement Car Covered for cars less than 12 months old Covered for new cars less than 12 months old Covered for new cars less than 12 months old
Courtesy Car Optional Optional Optional
Loss of Use or Daily Transport Allowance Not Covered Not Covered Up to $80 per day (max. 10 days)
24/7 Roadside Assistance Not covered Covered Covered
Lifetime Warranty Not covered Not Covered Not Covered
Windscreen Cover Unlimited at authorised workshops if not no cover + $100 excess

No. of claims allowed: 1

Unlimited at authorised workshops if not cover up to $600 + $100 excess

No. of claims allowed: Unlimited

Unlimited

No. of claims allowed: Unlimited

No Claim Discount Available for customers with NCD of 30% and above Available for customers with NCD of 10% and above Available for customers with NCD of 10% and above
Choice of Workshops for Accident Repairs Singlife-approved workshops only Any (excess will be
doubled if done at
non-approved
repairer)
Any
Personal Accident Not covered Death: Up to $50,000

For loss of limb: Up to $25,000

For loss of sight/hearing in one eye/ear: Up to $25,000

Death: Unlimited

For loss of limb: Up to $50,000

For loss of sight/hearing in one eye/ear: Up to $50,000

Medical Expenses Up to $500 Up to $2,500 Up to $5,000
Additional Excess for Driver(s) Age ≤ 24 and/or has less than 2 years driving
experience: $2,500
Age ≤ 24 and/or has less than 2 years driving
experience: $2,500
Special Features Covers on-site accident reporting

Covers child seat coverage: Up to $250

Covers the use of cars in Singapore, West Malaysia, Peninsula Thailand

5% safe driver discount if you’re earning 50% NCD and is claim-free when renewing

Covers electric cars

30+ workshops, including brand authorised workshops

 

Covers on-site accident reporting

Covers personal belonging: Up to $1,000

Covers child seat coverage: Up to $250

Covers the use of car in Singapore, West Malaysia, Peninsula Thailand

5% safe driver discount if you’re earning 50% NCD and is claim-free when renewing

Covers electric cars

Covers on-site accident reporting

Covers personal belonging: Up to $3,000

Covers child seat coverage: Up to $250

Covers use of car in Singapore, West Malaysia, Peninsula Thailand

5% safe driver discount if you’re earning 50% NCD and is claim-free when renewing

Covers electric cars

Price $577.86 $679.83 $951.77

Singlife Car Insurance Highlights

  1. Preferential rates for drivers with Singlife MINDEF, MHA, and Public Officers group insurance (including spouse, children, parents and siblings)
  2. One of the youngest limits for young & inexperienced drivers is excess (24 years old)
  3. Child seat coverage of up to $250 if the child seat in your car is damaged in an accident, fire, or theft
  4. No Claims Discount (NCD) remains intact with no upfront excess payment required if your car is damaged through no fault of yours. It also offers the lowest NCD penalty of 10% upon claims (for Standard and Prestige)

Our Recommendations

  • Opt for Lite if you’re a young & inexperienced driver
  • Opt for Prestige if you:
    • Just bought a new car
    • Have kids who just got their driving license
    • Have bad dreams that your kids will get into a freak accident and somehow manage to flip the car over

Singlife Car Insurance Review


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Singtel Car Insurance

That’s right. Telco Singtel offers the Singtel Car Protect underwritten by Great Eastern General Insurance Limited. 

  Singtel Car Protect (Value) Singtel Car Protect (Essential) Singtel Car Protect (Premium)
Loss Or Damage To Car By Accident Market Value at time of loss
Loss Or Damage To Car By Fire And/Or Theft Only Market Value at time of loss
Taxi Reimbursement Not covered Not covered Not covered
Towing Costs Up to $300 Up to $300 Up to $300
Authorised Repair Limit Up to $300
Damage to Third-party Property Up to $5,000,000 Up to $5,000,000 Up to $5,000,000
Death or Injury to Third-party Up to $5,000,000 Up to $5,000,000 Up to $5,000,000
Legal Representation and Defense Up to $3,000 Up to $3,000 Up to $3,000
New for Old Replacement Car Not Covered Not Covered Not Covered
Courtesy Car Not Covered Not Covered Not Covered
Loss of Use or Daily Transport Allowance Not Covered Not Covered Not Covered
24/7 Roadside Assistance Covered Covered Covered
Lifetime Warranty Not covered Not covered Not covered
Windscreen Cover Not covered Excess of $100 + GST Excess of $100 + GST
No Claim Discount Available for customers with NCD of 10% and above Available for customers with NCD of 10% and above Available for customers with NCD of 10% and above
Choice of Workshops for Accident Repairs Authorised workshops only Authorised workshops only Any
Personal Accident Not Covered Driver: Up to $120,000

Passenger: Up to $50,000

Driver: Up to $120,000

Passenger: Up to $50,000

Medical Expenses Not Covered Up to $1,000 per authorised driver Up to $1,000 per authorised driver
Additional Excess for Driver(s) Covered Covered Covered
Special Features Covers within the geographical area, which is West Malaysia, the Republic of Singapore, and the parts of Thailand within 80.5 km of the border between Thailand and West Malaysia
  $703.62 $764.81 $917.77
Sign Up Now Apply Now Apply Now Apply Now

Singtel Private Car Insurance Highlights

  1. Personal Accident coverage is relatively higher compared to other insurance plans at $120,000
  2. One of the plans also cover passengers and overseas traveling

Our Recommendations

  • Might be suited for those who fetch other passengers frequently, and for roadtrips

 

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Sompo Private Car Insurance

A Japanese insurer that offers comprehensive car insurance plans with attractive features.

  Vehicle Between 0 to 10 years (Preferred workshop) Vehicle Between 0 to 15 years (Authorised workshop)
Loss Or Damage To Car By Accident Market Value at time of loss
Loss Or Damage To Car By Fire And/Or Theft Only Market Value at time of loss
Taxi Reimbursement N.A. N.A.
Towing Costs N.A. N.A.
Authorised Repair Limit N.A. N.A.
Damage to Third-party Property Up to $5,000,000
Death or Injury to Third-party Unlimited
Legal Representation and Defense N.A. N.A.
New for Old Replacement Car N.A. N.A.
Courtesy Car N.A. N.A.
Loss of Use or Daily Transport Allowance Optional: $50 per day (max. 7 days) Optional: $50 per day (max. 7 days)
24/7 Roadside Assistance N.A. N.A.
Lifetime Warranty N.A. N.A.
Windscreen Cover Unlimited + Excess Unlimited + Excess
No Claim Discount Available for customers with NCD of 10% and above Available for customers with NCD of 10% and above
Choice of Workshops for Accident Repairs Preferred & Approved workshop Approved workshop
Personal Accident Up to $50,000 Up to $50,000
Medical Expenses N.A. N.A.
Additional Excess for Driver(s) N.A. N.A.
Price Schedule $869.23 (incl. GST) $1,043.08 (incl. GST)

Sompo Private Car Insurance Highlights

  • 24-hour Emergency Mobile Accident Response Service (MARS): An officer will arrive within 20 minutes to provide advice, take photos, complete accident statements, and perform E-filing of claims, and even recommend the nearest authorised workshop and arrange for towing.
  • A 5% Offence Free Discount (OFD) will be granted automatically if NCD is 30% and above

Our Recommendations

Premium might be cheaper compared to the rest as the coverage is not as comprehensive.

Sompo Private Car Insurance Review

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Tiq Car Insurance

Tiq by Etiqa has kept things simple with its plans and coverage.

  Tiq Third-Party Only Private Car Insurance Tiq Third-Party, Fire and Theft Private Car Insurance Tiq Comprehensive Private Car Insurance
Loss Or Damage To Car By Accident Not Covered Not Covered Covered
Loss Or Damage To Car By Fire And/Or Theft Only Not Covered Covered Covered
Taxi Reimbursement Not Covered Not Covered Not Covered
Towing Costs Not Covered Up to $200 Up to $200
Authorised Repair Limit
Damage to Third-party Property Covered Covered Covered
Death or Injury to Third-party Covered Covered Covered
Legal Representation And Defense Up to $2,000 Up to $2,000 Up to $2,000
New for Old Replacement Car Not Covered Not Covered Not Covered
Courtesy Car Not Covered Not Covered Up to $50 per day (max. 5 days)
Loss of Use or Daily transport allowance Not Covered Not Covered Up to $50 per day (max. 5 days)
24/7 roadside assistance Not Covered Not Covered Available as Add-on
Lifetime warranty Not Covered Not Covered Not Covered
Windscreen cover Not Covered Not Covered Unlimited (Excess of $100)
No Claim Discount Available for customers with NCD of 30% and above Available for customers with NCD of 30% and above Available for customers with NCD of 30% and above
Choice of workshops for accident repairs Tiq appointed workshops only unless an optional add-on Tiq appointed workshops only unless an optional add-on Tiq appointed workshops only unless an optional add-on
Personal Accident Not Covered Not Covered Up to $50,000
Medical Expenses Not Covered Not Covered Up to $1,000
Additional Excess for Drivers (s) Not Covered Not Covered Up to $2,500

Elderly, Young & Inexperienced: $2,000

Unnamed driver: $500

Special features Covers car accessories and spare parts due to fire and/or theft only Covers car accessories and spare parts due to fire and/or theft only
Price $677.28 $878.41 $951.06
Sign Up Now Apply Now Apply Now Apply Now

Tiq Private Car Insurance Highlights

  1. Relatively high personal accident cover ($50,000) for a no-frills plan
  2. Offers optional Sun/Moon Roof Cover (up to $2,000) which allows you to claim for repairs and NOT affect your NCD
  3. Offers optional damage coverage of up to $1,000 for solar film
  4. One of the youngest limits for young & inexperienced drivers excess (24 years old) and also covers elderly/

Our Recommendations

  • Ideal for the budget-conscious, as they always have frequent Tiq car insurance promos
  • Tiq coverage might seem a little scant especially if you’ve bought a new car, or if you expect a higher level of service
  • Great for seasoned drivers who know how to handle a traffic accident on their own

Tiq Car Insurance Review

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Cheapest Car Insurance in Singapore

Source: imgflip

While premiums are what you should look out for, they should not be the only thing you look at especially if you’re a young driver.

What To Look Out For When Buying Car Insurance?

Insurance firms typically charge younger drivers the highest prices, while elderly drivers typically receive significantly lower rates.

Drivers should be aware that in addition to paying premiums, they may also be required to pay an additional Young and/or Inexperienced Driver Excess (usually between $2,000 and $3,000) based on the insurance plans above.

This is on top of the standard excess that you are required to pay each time they submit a claim.

Before committing to a plan, pay attention to the items you need to fork out before you receive any benefits from the insurer.

If the plan has a significantly low Young and/or Inexperienced Driver Excess, or if you can avoid paying it at all, it can be worth paying a somewhat higher premium.

What are your thoughts and experience in purchasing car insurance in Singapore?

Share them with us in the community!

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