Getting car insurance is vital for every car owner as it protects you from financial loss in case of a car accident or theft. While the easy option may be to renew your existing policy simply, this could mean missing out on better deals elsewhere.
By obtaining an online quote, you may find that you can get a more affordable premium from a different insurer, as these depend on factors such as your driving profile and the specifics of your vehicle. To give you an idea, the average cost of car insurance in Singapore ranges between SGD $700 and SGD $1,000.
Here we discuss the list of the top car insurance plans available in Singapore to compare with your current one.
At a Glance
| Insurance Provider | Best For | Benefits | Cost per Year (starting from) |
| MSIG MotorMax | Comprehensive coverage |
|
S$825.24 |
| FWD Car Insurance | Customizable plans |
|
S$794.73 |
| AIG Car Insurance | Flexible coverage options |
|
S$1,056.07 |
| Allianz Motor Protect | Comprehensive coverage and affordability |
|
S$641.49 |
| TIQ Car Insurance | Comprehensive coverage and competitive premiums |
|
S$835.26 |
| Singlife Car Insurance | Comprehensive coverage and digital convenience |
|
S$1,311.58 |
| HLAS Car Protect360 | Workshop choice flexibility |
|
S$1,336.15 |
| Income Drivo | Comprehensive competitive pricing |
|
S$1,004 |
| DirectAsia Car Insurance | Competitive pricing and customizable coverage |
|
S$700 |
| Singtel Car Protect | Unique benefits and comprehensive coverage |
|
S$856.82 |
Best Car Insurances in Singapore
1. MSIG MotorMax – Best for Comprehensive Coverage
MSIG MotorMax is one of the best car insurance policies in Singapore. MSIG has been in Singapore for over 100 years and its renowned for its wide-ranging coverage and top-notch customer service. Their reputation for hassle-free claims processing makes them a popular choice among Singapore drivers.
Plans
They offer three plans and they include:
- MotorMax Plus: This is the most comprehensive, covering everything from accidental loss or damage to your car, liability to third parties, medical expenses, personal accident benefits, and even towing.
- MotorMax: This plan offers substantial coverage at a more affordable price.
- MotorMax Lite: This is the basic third-party liability coverage.
Annual insurance Premium
- S$1500 *Note that this is an example price for a 35-year-old driver of a Honda Civic for the MotorMax plan. For the most accurate pricing, it’s best to request a quote.
Promo
- MSG MotorMax is always there for every road you take and they make a point of offering promotions occasionally. They currently have a promotion running until 31 July 2023. Each online application for MotorMax entitles you to S$100 petrol vouchers, while MotorMax Plus entitles you to S$150 petrol vouchers.
How to Apply
Applying for MSIG MotorMax car insurance is a straightforward process. Here are the steps to follow:
- Visit the MSIG website
- Choose the plan that best suits your needs
- Provide the necessary information about yourself and your vehicle, and submit the online application form
If you have any questions or need assistance, their customer service team is available to help.
2. FWD Car Insurance – Best for Customizable Plans
FWD Car Insurance comes second on our best car insurance in Singapore list. It’s renowned for its flexibility and customer-centric approach. Known for offering a range of customizable plans, FWD stands out in the competitive Singaporean market. They place a particular emphasis on straightforward processes and comprehensive coverage, and competitive car insurance premiums.
Plans
FWD offers three main types of coverage:
- Comprehensive Plan: FWD’s Comprehensive Plan provides extensive coverage for your car. It includes protection against accidental damage, theft, fire, and third-party liabilities. This plan offers peace of mind by covering a wide range of risks and ensuring that you are financially protected in various scenarios.
- Third-Party Fire & Theft Plan: This plan provides coverage for third-party liabilities, as well as protection against fire and theft. It covers damages caused to third-party vehicles or property, as well as the loss or damage to your vehicle due to fire or theft. It’s a suitable option for those looking for basic coverage at an affordable price.
- Third-Party Only Plan: FWD’s Third-Party Only Plan offers coverage for third-party liabilities, including property damage and bodily injury. This plan meets the legal requirements for car insurance in Singapore and provides financial protection if you are found liable for damages to other parties.
Annual Premium
- Request a quote from FWD to get an accurate price.
Promo
- FWD often runs promotions. For instance, they currently have a July 2023 promotion for both cars and motorcycles. For the Comprehensive Plan only, you get a 20% off and S$100 e-CapitaVouchers for cars and a 25% off and S$100 e-CapitaVouchers for motorcycles.
How to Apply
Applying for FWD Car Insurance is a straightforward process. Here are the general steps to follow:
- Visit the FWD Car Insurance website or contact their customer service.
- Provide the necessary information, including your personal details, vehicle information, and coverage preferences.
- Receive a quote based on the provided information.
- Review the quote, including the coverage details and premium.
- If satisfied, proceed to complete the application by submitting the required documentation and payment.
3. AIG Car Insurance – Best for Flexible Coverage Options
AIG is a leading global insurance organization with a reputation as one of the best car insurance that Singapore has. They have a wide range of products and their car insurance policies are known for great car insurance cover and excellent customer service.
Plans
AIG Car Insurance provides various plans to cater to different requirements. Some of their notable plans include:
- Protection: This plan offers coverage for damages to your own vehicle due to accidents, fire, or theft. It also covers third-party property damage, death, and injury, providing a comprehensive level of protection.
- Third-Party: This plan focuses on providing coverage for third-party liabilities, including property damage, death, and injury. It ensures that you are financially protected if you are found liable for damages to others.
Annual Premium
- As a rough guide, premiums for the comprehensive plan might range from SGD $800 to SGD $2000 or more.
Promo
- AIG usually runs promotions on their website. They currently have a promotion running until 30 September 2023. You will get S$350 worth of petrol vouchers when you purchase a policy, plus S$50 more for an AIG On the Go account.
How to Apply
Applying for auto insurance with AIG is simple. Here are the steps to follow:
- Visit the AIG Car Insurance website or contact their customer service.
- Provide the required information, including personal details, vehicle information, and coverage preferences.
- Obtain a quote based on the provided information.
- Review the quote, including the coverage details and premium.
- If satisfied, proceed to complete the application by submitting the necessary documentation and payment.
4. Allianz Motor Protect – Best for Comprehensive Coverage and Affordability
Allianz Motor Protect is a leading car insurance provider in Singapore, offering comprehensive coverage and a range of benefits to policyholders. With a strong reputation for reliability and excellent customer service, Allianz Motor Protect is a top choice for discerning car owners.
Plans
Allianz Motor Protect offers a variety of plans to suit different needs and budgets. They include:
- Standard Plan: This plan provides comprehensive coverage for accidental loss or damage to your vehicle, as well as third-party property damage, death, and injury. It offers extensive protection at an affordable price.
- Enhanced Plan: The Enhanced Plan builds upon the coverage offered by the Standard Plan. It includes additional benefits such as legal representation and defense coverage, a lifetime warranty on repairs, and a courtesy car provision. This plan provides extra peace of mind and convenience.
Annual Premium
- Available upon request. Please contact Allianz to get an accurate quote.
Promo
- For the most accurate pricing, it’s best to request a quote.
How to Apply
To apply for Allianz Motor Protect, follow these general steps:
- Visit the Allianz Motor Protect website or contact their customer service.
- Provide the necessary information, including personal details, vehicle information, and coverage preferences.
- Receive a quote based on the provided information.
- Review the quote, including the coverage details and premium.
- If satisfied, proceed to complete the application by submitting the required documentation and payment.
5. TIQ Car Insurance – Best for Comprehensive Coverage and Competitive Premiums
TIQ Car Insurance is known for its comprehensive coverage and competitive premiums, making it one of the best car insurance that Singapore has. Backed by a solid track record, TIQ offers reliable protection for your vehicle and peace of mind on the road.
Plans
TIQ Car Insurance offers a range of flexible plans to cater to different needs. Take a look:
- Comprehensive Plan: This plan offers extensive coverage for accidental loss or damage to your vehicle, as well as third-party property damage, death, and injury. It provides a comprehensive level of protection to ensure peace of mind on the road.
- Third-Party Fire & Theft Plan: This plan provides coverage for third-party liabilities, as well as protection against fire and theft. It covers damages caused to third-party vehicles or property, as well as loss or damage to your vehicle due to fire or theft.
Annual Premium
- Request a quote from TIQ to get an accurate price.
Promo
- Keep an eye out for promotional offers from TIQ Car Insurance, such as discounted premiums or additional benefits. These promotions can further enhance the value you receive from your car insurance policy. They are currently offering 20% off when you insure with them.
How to Apply
Applying for TIQ Car Insurance is a simple and convenient process. Here are the steps to follow:
- Visit the TIQ Car Insurance website or contact their customer service.
- Provide the necessary information, including personal details, vehicle information, and coverage preferences.
- Receive a quote based on the provided information.
- Review the quote, including the coverage details and premium.
- If satisfied, proceed to complete the application by submitting the required documentation and payment.
6. Singlife Car Insurance – Best for Comprehensive Coverage and Digital Convenience
Singlife Car Insurance is another leading provider making them one of the best car insurance Singaporeans love. They offer comprehensive coverage and innovative digital solutions. With a customer-centric approach, they aim to simplify the insurance process while delivering excellent service.
Plans
Singlife Car Insurance offers a range of plans to cater to different drivers’ needs. Some notable plans include:
- Comprehensive Plan: This plan provides extensive coverage for accidental loss or damage to your vehicle, as well as third-party property damage, death, and injury. It offers comprehensive protection to ensure peace of mind on the road.
Annual Premium
- For the most accurate pricing, it’s best to request a quote.
Promo
- Singlife Car Insurance frequently offers promotional deals and discounts to enhance affordability and value for their customers. If you buy their premiums, you can enjoy their current 23% off that is valid until 13 July 2023.
How to Apply
Applying for Singlife Car Insurance is a hassle-free process. Here are the steps to follow:
- Visit the Singlife Car Insurance website or download their mobile app.
- Create an account or log in if you already have one.
- Provide the necessary information, including personal details, vehicle information, and coverage preferences.
- Receive a quote based on the provided information.
- Review the quote, including the coverage details and premium.
- If satisfied, proceed to complete the application process by submitting the required documentation and payment electronically.
7. HLAS Car Protect360 – Best for Workshop Choice Flexibility
HLAS Car Protect360 is a comprehensive car insurance plan offered by HL Assurance, providing extensive coverage for various scenarios, including accidents, theft, fire, and third-party liabilities.
Plans
This plan provides flexibility and comprehensive coverage for your car. It offers workshop choice flexibility, allowing you to select your preferred workshop for repairs. HLAS Car Protect360 is designed to meet diverse needs with its customizable coverage options.
- Basic Plan: The Basic Plan offers essential coverage for accidental loss or damage to your vehicle, as well as third-party property damage, death, and injury. It provides fundamental protection while giving you the freedom to choose your preferred workshop.
- Enhanced Plan: The Enhanced Plan builds upon the coverage provided by the Basic Plan. It includes additional benefits such as legal representation and defense coverage, a courtesy car provision, and 24/7 roadside assistance. This plan offers added convenience and protection.
- Prestige Plan: The Prestige Plan offers the highest level of coverage and benefits within the HLAS Car Protect360 offering. It includes all the features of the Enhanced Plan and offers additional benefits like a higher coverage limit, special perils coverage, and windshield coverage. This plan is suitable for those seeking extensive coverage and enhanced benefits.
Annual Premium
- It’s recommended that you request a quote
Promo
- HLAS Car Protect360 occasionally offers promotional deals and discounts, such as reduced premiums, additional coverage features, or added benefits. They are currently offering 25% off and a complimentary free car servicing until 31 July 2023 when you insure with them.
How to Apply
To apply for HLAS Car Protect360, follow these steps:
- Visit the HLAS Car Protect360 website or contact their customer service.
- Provide the necessary information, including personal details, vehicle information, and coverage preferences.
- Receive a quote based on the provided information.
- Review the quote, including the coverage details and premium.
- If satisfied, proceed to complete the application by submitting the required documentation and payment.
8. Income Drivo – Best for Comprehensive Competitive Pricing
Income Drivo is renowned as one of the best car insurance that Singapore enjoys because they offer comprehensive coverage and competitive pricing. The provider also has a strong reputation for reliability and customer satisfaction.
Plans
Income Drivo provides a range of plans to cater to different needs. Some notable plans include:
- Standard Plan: This plan provides coverage for accidental loss or damage to your vehicle, as well as third-party property damage, death, and injury. It offers comprehensive protection at competitive pricing.
Annual Premium
- For the most accurate pricing, it’s best to request a quote.
Promo
- Income Drivo periodically offers promotional deals and discounts. They are currently offering up to 390,000 Stars (worth up to S$390 eCapitaVouchers) until 31 December 2023, when you choose to safeguard your journey with them.
How to Apply
Applying for Income Drivo car insurance is a hassle-free process. Here’s what you need to do:
- Visit the Income Insurance website or contact their customer service.
- Provide the necessary information, including personal details, vehicle information, and coverage preferences.
- Receive a quote based on the provided information.
- Review the quote, including the coverage details and premium.
- If satisfied, proceed to complete the application by submitting the required documentation and payment.
9. DirectAsia Car Insurance: Competitive Pricing and Customizable Coverage
DirectAsia is an established insurance provider known for its customer-centric approach. DirectAsia Car Insurance aims to provide competitive pricing while allowing customers to customize their coverage according to their specific needs.
Plans
DirectAsia Car Insurance offers a range of plans to cater to different drivers’ requirements. Some notable plans include:
- Standard Plan: This plan offers essential coverage for accidental loss or damage to your vehicle, as well as third-party property damage, death, and injury. It provides a basic level of protection at a competitive price.
- Enhanced Plan: The Enhanced Plan builds upon the coverage provided by the Standard Plan. It includes additional benefits such as personal accident coverage, medical expenses coverage, and an increased coverage limit. This plan offers enhanced protection for a comprehensive level of coverage.
Annual Premium
- To obtain an accurate premium quote, it is recommended to request a personalized quote from DirectAsia.
Promo
- DirectAsia Car Insurance periodically offers promotions and discounts to enhance affordability and provide additional value for customers. For instance, if you buy their premiums, you can redeem up to $100 eCapitavoucher for comprehensive cover, and $40 for third party, plus get a S$100 worth of shell fuel.
How to Apply
10. Singtel Car Protect – Best for Unique Benefits and Comprehensive Coverage
Singtel Car Protect is an insurance offering by Singtel, a reputable telecommunications company in Singapore. Leveraging their expertise, they provide car insurance solutions that cater to the needs of drivers in the city-state.
Plans
Singtel Car Protect offers different plans tailored to various customer preferences and budgets. Some niotable plans include:
- Standard Plan: This plan provides coverage for accidental loss or damage to your vehicle, as well as third-party property damage, death, and injury. It offers comprehensive protection to ensure peace of mind on the road.
Annual Premium
- It’s recommended to obtain a personalized quote to determine the exact premium for your specific circumstances.
Promo
- Singtel Car Protect offers promotional offers and discounts to their customers from time to time. They are currently offering S$200 petrol vouchers until 31 July 2023, when you sign up for any Singtel Car Protect plan. Singtel customers also get a 10% discount on their first purchase through the ‘My Singtel’ app.
How to Apply
To apply for Singtel Car Protect, follow these steps:
- Visit the Singtel Car Protect website or contact their customer service.
- Provide the necessary information, including personal details, vehicle information, and coverage preferences.
- Receive a quote based on the provided information.
- Review the quote, including the coverage details and premium.
- If satisfied, proceed to complete the application by submitting the required documentation and payment.
What to Look Out for When Buying Car Insurance
When setting out to purchase car insurance, it’s imperative to consider a few key aspects that can significantly affect your coverage and cost. Below, we explore these in detail.
- Car Insurance Type: There are three main types of car insurance – comprehensive, third-party fire & theft, and third-party only. Comprehensive insurance offers the widest coverage, including damage to your own car, third-party property, and injuries. The other two are less expensive but also offer less coverage.
- How Much Excess You’re Willing to Pay: Excess is the amount you agree to pay upfront if you make a claim, and it’s only paid when you’re at fault. Higher insurance excess usually results in lower premiums, but you’ll need to be confident you can afford it in case of a car accident.
- Authorized Workshop Only, or Any Workshop of Your Choice: Some insurance policies restrict you to using only workshops that the insurer authorizes for car repairs. Others allow you to choose any workshop of your choice. Assess the convenience and quality of the authorized workshops before deciding.
- Roadside Assistance: Roadside assistance is a valuable addition to your policy, providing services like towing, flat tire changes, free car servicing, or jump-starting a dead battery. Check if this is included in your policy or available as an add-on.
- NDC (No Claims Discount): This is a discount on your insurance premium for every year that you don’t make a car insurance claim. The NDC can significantly reduce your insurance costs over time, so it’s worth considering a policy that offers a good NDC.
- Daily Transport Allowance: If your car is being repaired and you’re without transport, some policies offer a daily transport allowance to help cover alternative arrangements. Consider this if you depend heavily on your vehicle for daily commuting or tasks.
Each aspect plays a crucial role in shaping the car insurance policy that best fits your needs and circumstances. Evaluate them carefully to ensure you’re fully protected at a price that suits your budget.
Steps to Claim Your Car Insurance
When claiming your motor insurance, there are several essential steps to follow. Here’s a general guide on how to proceed with the claims process:
- Notify Your Insurance Provider: Inform your motor insurance provider about the incident as soon as possible. Most insurers have a helpline or claims reporting system that you can use to initiate the process. Provide them with accurate and detailed information regarding the incident.
- Gather Necessary Documentation: Collect all relevant documents to support your claim including your existing car insurance policy. This may include the incident report, photographs of the damage or car accident scene, police reports (if applicable), and any other evidence or supporting documents required by your car insurance company.
- Complete the Claim Form: Fill out the claim form provided by your insurance company. Ensure that all the information provided is accurate and complete. You may need to provide details about the incident, the parties involved, and the extent of the damage or loss.
- Submit Supporting Documents: Along with the claim form, submit all the supporting documents you gathered. This may include the documents mentioned in Step 2 and any other paperwork required by your insurer, such as medical bills or repair estimates.
- Cooperate with Investigations: If necessary, cooperate with any investigations conducted by your insurance company. That may involve providing additional information, answering questions, or allowing their appointed representatives to inspect your vehicle or assess the situation.
- Follow up with Your Insurer: Stay in touch with your insurance company to track the progress of your claim. Be proactive in providing any additional information or documentation they may require.
- Settlement and Repair: Once your claim is approved, your insurance provider will guide you through the settlement process. This may involve arranging for repairs, reimbursement for expenses, or issuing a payment to cover the losses.
Remember that the specific steps and requirements can vary depending on your insurance provider and the nature of your claim. It’s important to carefully review your policy and consult your insurer for precise instructions on proceeding with your particular claim.
Tips to Get the Best Car Insurance Price
When aiming to secure the best car insurance price, there are several strategies you can employ. Take a look at the following sections for tips on how to achieve favorable car insurance premiums:
- Shop Around and Compare Quotes: Obtain quotes from multiple car insurance providers to compare car insurance prices and coverage options while shopping for the cheapest car insurance premiums. This allows you to find the most competitive rates available.
- Maintain a Clean Driving Record: Safe driving habits and a history free of accidents or traffic violations can help lower your insurance premiums. Car insurance companies often reward good drivers with better rates.
- Choose a Higher Deductible: Opting for a higher deductible means you’ll pay more out of pocket in the event of a claim, but it can significantly lower your premium.
- Bundle Your Policies: Consider bundling your car insurance with other insurance policies, such as home or renters insurance, from the same provider. Insurers frequently offer discounts for bundled policies.
- Maintain Good Credit: Your credit score can influence your insurance rates. By maintaining good credit, you may be eligible for better premiums.
- Drive a Safe and Low-Risk Vehicle: Vehicles equipped with safety features and those with lower theft rates tend to have lower insurance costs. Consider these factors when purchasing a car.
- Inquire About Discounts: Ask your insurance provider about available claim discount. Common discounts include safe driver discounts, multi-car discounts, or discounts for specific professions or affiliations.
These tips will increase your chances of securing the best car insurance. Remember to assess your individual needs and consult with insurance professionals to find optimal coverage at an affordable rate.
Closing
By conducting thorough research, comparing quotes, and exploring the specific features of each plan, drivers can make an informed decision that provides optimal protection for their vehicles and peace of mind on the roads of Singapore.
Key Takeaways
- Insurance policies vary from comprehensive to customizable plans and even EV-specific coverages, providing customers with various choices.
- Insurers enhance the value of their plans with additional services like roadside assistance, workshop choices, daily allowances, and courtesy cars.
- The annual costs of car insurance vary widely between providers, with prices ranging from S$641.49 to S$1,336.15, not considering the EV-specific policy. This underlines the importance of comparing different insurance plans not only based on their coverage but also in terms of their cost-effectiveness.
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