What is car insurance?
A car insurance is a type of insurance that protects you against medical and liability costs should you get into a car accident.
Do you need car insurance in Singapore?
Yes! In fact, if you own a car in Singapore, it is mandatory to purchase car insurance under the Motor Vehicles (Third-Party Risks & Compensation) Act.
Failure to comply can result in a fine of up to SGD1,000, a jail term of up to three months, or both. On top of that, you will also be disqualified from holding or obtaining a driving licence for a year from the date you are convicted.
Is car insurance really necessary?
Statutory obligations aside, given the hefty price tag of a car in Singapore, you would definitely want to insure your car against accidents and damages.
Getting into an accident without being covered under car insurance can cause financial ruin. Apart from having to pay for car repairs, you could potentially be sued for losses, damages, and medical expenses if you injure someone. In cases of serious injuries or even death, the amount sued for may run into hundreds of thousands or millions.
If you have car insurance, some of these costs will be borned by the insurance company. In short, car insurance is really all about protecting yourself.
Here are some insurance providers that offer car insurance:
Insurance Provider |
AXA Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.axa.com.sg/ |
| Address | 8 Shenton Way, #24-01 AXA Tower, Singapore 068811 |
| Telephone | +65 6880 4888 |
| Operating Hours | Mon – Fri: 9am – 5.30pm |
Anything can happen on the road. Protect yourself and your loved ones by taking the AXA insurance policy. This Singapore-based company is best known for providing an array of car insurance policies that cover damages to the car due to an accident and medical expenses. The premiums are affordable and can be customised to suit your needs.
It also offers a custom program, Drive Master, designed to incentive clients to drive safely. Members get up to 15% on their car insurance premiums. The discount percentage is determined by their driving history and performance.
Insurance Provider |
FWD Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.fwd.com.sg/ |
| Address | 6 Temasek Blvd, #18-01 Suntec Tower Four, Singapore 038986 |
| Telephone | +65 6820 8888 |
| Operating Hours | Mon – Fri: 9am – 6pm |
FWD Insurance is a Singapore company licensed to provide car insurance policies in the country. The company has existed for over a decade, proving that it delivers quality comprehensive coverage to clients.
The cut-throat competition in the industry forces insurers to devise policies and programs to stand out. One of FWD’s unique programs is the Lifetime NCD protector. This program is available to all clients and is designed to allow policyholders to safeguard or keep their No-Claim Discount for a lifetime. If you file a claim, your NCD will not be factored into the calculations, and you will enjoy reduced monthly premiums.
Insurance Provider |
Aviva Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.aviva.com.sg/ |
| Address | 4 Shenton Way, SGX Centre 2 #01-01, Singapore 068807 |
| Contact | +65 6827 7988
cs_life@aviva-asia.com |
| Operating Hours | Mon – Fri: 8.45am – 5.30pm |
Aviva Insurance is the go-to company for customer-oriented and convenient car insurance policies. The premiums are affordable, and you can request the support team to customise the policy to suit your needs. One policy that sets it apart from other insurance companies is the NCD Guarantee policy.
All car insurance policy holders enjoy a generous NO-Claim Discount even if you only file one claim per policy year. This policy makes the company an ideal choice for motorists afraid of losing their NCD due to unforeseen occurrences such as car theft or accident.
Insurance Comparison Portal |
sgCarMart |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.sgcarmart.com/ |
| Address | 61 Ubi Ave 2, Automobile Megamart |
| Contact | +65 6744 1514
spaceradmin@sgcarmart.com |
| Operating Hours | Mon – Fri: 10am – 6.30pm |
When driving on Singapore roads, you must be prepared for anything and everything, even though most drivers are competent and obey traffic rules. Stay safe by taking one of sgCarMart car insurance policies. One of the highlights of this company is that it allows clients to subscribe to a policy based on how they use the car.
The premium is calculated based on how you use the car, your driving history, and your driving habits. You only pay for the coverage you need. This policy favours drivers who don’t drive their cars too often or have low annual mileage.
Insurance Provider |
Direct Asia Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.directasia.com/ |
| Address | 20 Anson Rd, #08-01, Singapore 079912 |
| Contact | +65 66665 5555
customerservice@directasia.com |
| Operating Hours | Mon – Fri: 8am – 8pm |
Transparency, a high level of professionalism, and affordable premiums are the three main attributes associated with Direct Asia Insurance. The company has been around for a while and takes pride in insuring thousands of cars.
Its Lifetime NCD Guarantee is one of the main policies that set it apart from other insurers in Singapore. By purchasing this policy, you will be awarded a No Claim Discount that remains viable even if you file one claim. The policies are also customisable; there is no one-size-fits-all.
Insurance Provider |
Quotigo |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://quotigo.com/ |
| Address | 60 Paya Lebar Road Paya Lebar Square #11-41 Singapore 409051 |
| Contact |
+65 6385 3303 mgt@quotigo.com |
| Operating Hours | Mon – Fri: 9am – 6pm |
Are you a Singaporean or a tourist visiting for the first time and wishing to drive yourself around the country? Get in touch with Quotigo car insurance company. The company offers customisable and comprehensive car insurance policies to both residents and foreigners.
The monthly or annual premium amount is calculated by determining the distance you intend to cover. They also consider low-mileage drivers with a good driving history for special discounts and other offers. Grab Quotigo’s usage-based car insurance policy today.
Insurance Provider |
Tokio Marine |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.tokiomarine.com |
| Address | 20 McCallum Street #07-01 Tokio Marine Centre Singapore 069046 |
| Contact | +65 6592 6100
customercare@tokiomarine-life.sg |
| Operating Hours | Mon – Fri: 8.45am – 5.45pm |
Are you tired of paying thousands of dollars and getting low value for money on your car insurance? Talk to Tokio Marine car insurance company. Its best known for its convenient insurance policies and transparency. The personnel will go the extra mile to give you professional advice on the best policy and how to save money on it.
One of the innovative policies it offers is Usage-Based Car Insurance. It’s powered by telematics technology that enables the company to keep track of the distance covered and driving behaviour. Using this information, Tokio Marine is able to offer customised car insurance policies.
Insurance Provider |
Etiqa Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.etiqa.com.sg/contact/ |
| Address | 16 Raffles Quay, Hong Leong Building, #01-04A, Singapore 048581 |
| Contact | +65 6887 8777
customer.service@etiqa.com.sg |
| Operating Hours | Mon – Fri: 8.30am – 5.30pm |
One of the challenges drivers face after an accident is a complex claim filing process. Some insurance companies are not transparent and take months to approve claims. Etiqa Insurance is different from other insurance companies as its policies and services focus on providing top-notch insurance coverage. The claim process is hassle-free, ensuring drivers get compensated within the shortest time possible.
ePROTECT sMiles is a user-based car insurance policy that the company offers. In this policy, Etiqa Insurance uses advanced tech to monitor clients’ driving behaviour on the road and driving patterns to determine the amount of premiums they should pay.
Insurance Provider |
HL Assurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.hlas.com.sg/ |
| Address | 11 Keppel Rd, #11-01 ABI plaza, Singapore 089057 |
| Telephone | +65 6702 0202 |
| Operating Hours | Mon – Fri: 9am – 6pm |
HR Assurance is the go-to insurance company for comprehensive and third-party car insurance policies. It’s reputable and trusted by individuals, businesses, and corporates. One policy that gives it an upper hand is the Pay-As-You-Drive insurance policy.
This policy helps customers to save money on premiums by only paying an amount that is equivalent to the distance they cover. It’s ideal for eco-conscious drivers who don’t use their cars daily and opt for alternative means of transport.
Insurance Provider |
NTUC Income |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.income.com.sg/ |
| Address |
|
| Telephone | +65 6789 9595 |
| Operating Hours | Mon – Fri: 8.30am – 6.30pm |
NTUC Income is a top-rated insurance company that offers affordable and convenient car insurance policies in Singapore. The company has been offering insurance policies for over four decades and has stood the test of time by consistently providing quality car insurance policies.
Two new policies available are the Orange Force Policy, designed to offer clients round-the-clock road assistance, and the Pay-As-You-Drive policy, which requires clients to pay an amount equivalent to high often they use the car and the distance covered. The No Claim Discount and Multi-Policy Discount help customers save on premiums.
Insurance Provider |
Budget Direct Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.budgetdirect.com.sg/ |
| Address | 190 Clemenceau Ave, #03-01 Singapore Shopping Centre, Singapore 239924 |
| Contact | +65 6221 2111
help@budgetdirect.com.sg |
| Operating Hours | Mon – Fri: 8am – 8pm
Sat: 8am – 3pm |
Getting a comprehensive car insurance policy in Singapore doesn’t have to be time-consuming and stressful. Budget Direct Insurance has revolutionised how clients buy insurance policies by creating an intuitive website with all the information you need to select the right policy.
Apart from the conventional car insurance policy, the company has a custom NCD Protector Plus policy that keeps the client’s No Claims Discount intact even if they file a claim. Another policy to leverage is the Pay-As-You-Drive policy which offers generous savings to drivers who cover short distances. You get a 10% discount if you buy the policy only and a 20% discount if you have 5+ years of driving experience.
Insurance Provider |
Sompo Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.sompo.com.sg/products/private-car |
| Address | 50 Raffles Place, #05-01/06 Singapore Land Tower, Singapore 048623 |
| Telephone | +65 6461 6555 |
| Operating Hours | Mon – Fri: 8.30am – 5.30pm
emailus@sompo.com.sg |
Sompo Insurance is another top-rated insurance company offering various public and private car plans. One of the policies to look out for is the Zero Excess plan which allows clients to submit a claim without excess payment, even when you are found at fault. Another client-friendly policy is the Agreed Value plan which considers the car’s value at the time of purchase without factoring in depreciation at the time of buying the policy.
Drivers who haven’t filed a claim for a while qualify for a No-Claim Discount. If you insure multiple cars, you will be awarded a Multi-Car Discount.
Insurance Provider |
MSIG Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.msig.com.sg/personal-insurance/MotorMax |
| Address | 4 Shenton Way, SGX Centre, Singapore 068807 |
| Telephone | +65 6827 7602 |
| Operating Hours | Mon – Fri: 8.45am – 5.30pm |
MSIG is a reliable and licensed car insurance company that specialises in offering car insurance policies in Singapore. The company has invested in a user-friendly and responsive website with information about the different policies to help you make an informed decision.
One of the unique policies is the Loss of Use Benefit which encompasses the cost of the rental car if you take it to the mechanic for repairs after being involved in an accident. They also have a New for Old plan/policy; if your car is stolen and you have subscribed to it, the insurance company will buy you a new one if it’s stolen or involved in an accident within the first 12 months of purchasing the policy.
Insurance Provider |
Allianz |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.allianz-asiapacific.com/ |
| Address | 12 Marina View, #14-01 Asia Square Tower 2, Singapore 018961 |
| Telephone | +65 6297 8802 |
| Operating Hours | Mon – Fri: 9am – 5.30pm |
Allianz is a trusted and reputable car insurance company that offers comprehensive and tailor-made car insurance policies. You can find all the information about the policies they offer on their website. One of the unique policies is Personal Accident Coverage which offers additional coverage if you get injured in an accident or get involved in a fatal accident.
The policy also comes with a Roadside Assistance plan that provides road assistance even during the wee hours of the night if your car breaks down or gets in an accident.
Insurance Provider |
AIG Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.aig.sg/personal |
| Address | 78 Shenton Way, #09-16 AIG Building, Singapore 079120 |
| Telephone | +65 6419 3000 |
| Operating Hours | Mon – Fri: 9am – 5pm |
Quality car insurance policies don’t have to cost you an arm and a leg. AIG Insurance is a premium insurance company that offers an array of comprehensive insurance policies to drivers and car owners in Singapore.
One of the standout policies is the Lifetime Repair Guarantee which ensures your car is repaired by a professional and fitted with quality replacement parts when it’s under your ownership. The company also has an Auto Plus Plan that covers different non-accident incidents, including but not limited to theft and flooding.
Insurance Provider |
Liberty Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.libertyinsurance.com.sg/ |
| Address | 51 Club St, Singapore 069428 |
| Contact | +65 65423 789
servicecenter@libertyinsurance.com.sg |
| Operating Hours | Mon – Fri: 8.30am – 5.30pm |
Liberty Insurance is a global company that offers exceptional car insurance policies in more than 20 different countries. No Claim Discount Protector and Personal Accident Cover for Passengers is some highlights that place it ahead of the curve.
The No Claim Discount Protector allows the policyholders to still benefit from the No Claim Discount even if they file a claim. The Personal Accident Cover for Passengers basically protects passengers if your car is involved in an accident with them onboard. You can also request the support team to increase the excess amount to enjoy more coverage.
Insurance Provider |
Great Eastern |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.greateasternlife.com/sg/ |
| Address | 1 Pickering Street #01-01, Great Eastern Centre, Singapore 048659 |
| Contact | +65 6248 2211
gicare-sg@greateasterngeneral.com |
| Operating Hours | Mon – Fri: 9am – 5.30pm |
For many years, finding a reliable car insurance policy would take weeks. Great Eastern resolves this by providing multiple comprehensive car insurance coverages. The website has all the information you need to select your next car insurance policy. The support team is also available to help you select the right policy.
Check out their custom policies, such as the New-for-Old Replacement policy, which requires the insurance company to buy you a new car if the insured one is less than two years old and is totally damaged in an accident.
Insurance Provider |
India International Insurance |
| Speciality |
|
| Pricing | Request for quotation online |
| Website | https://www.iii.com.sg/ |
| Address | 64 Cecil St, IOB Building, Singapore 049711 |
| Telephone | +65 6347 6100 |
India International Insurance is a reputable company licensed to offer car insurance policies in Singapore. You actually don’t have to contact the support team, as all the information you need to buy your first policy is available on their website.
It strives to stay ahead of the competition by providing car insurance policies with unique features or additions. Two of the main features that make India International Insurance different are the Enhanced Personal Accident Benefit and Loss of Use Benefit.
The latter means that the insurance company will give you a daily allowance for the days your car is in the garage undergoing repairs after an accident. The Enhanced Personal Accident Benefit offers complementary or additional coverage, such as compensation for permanent disability and medical expenses.
Insurance Provider |
China Taiping Insurance |
| Highlights |
|
| Pricing | Request for quotation online |
| Website | https://www.sg.cntaiping.com/en/ |
| Address | 3 Anson Road #16-00, Springleaf Tower Singapore 079909 |
| Telephone | +65 6222 1033
feedback@sg.cntaiping.com |
| Operating Hours | Mon – Fri: 8.45am – 5.30pm |
Don’t limit yourself to ordinary car insurance policies. Enjoy more coverage by buying car insurance from China Taiping Insurance Company. The company offers different car insurance policies designed to meet the diverse needs of customers. These policies cover not only accidental damage but also third-party liability and theft.
New for Old Replacement and Waiver for Betterment Cost are two unique bonuses included in the car insurance policies. The latter, Waiver for Betterment Cost, means that the insurance company will waive the depreciation cost due to wear and tear. The New for Old Replacement policy replaces the old parts damaged in an accident with brand-new ones from accredited manufacturers.
Insurance Provider |
EQ Insurance |
| Highlights | |
| Pricing | Request for quotation online |
| Website | https://www.eqinsurance.com.sg/ |
| Address | 5 Maxwell Road, #17-00 Tower Block, MND Complex, Singapore 069110 |
| Contact | +65 6223 9433
distribution@eqinsurance.com.sg |
| Operating Hours | Mon – Fri: 8.30am – 5.30pm |
EQ Insurance is a premier car insurance provider in Singapore, specialising in comprehensive and third-party car insurance policies. The policies are tailored to amicably meet the coverage needs of modern drivers, corporates, and government organisations.
Private Car Owner Protection Plus and Pay As You Drive are two unique policies it offers. The Private Car Owner Protection Plus covers medical expenses and personal accident expenses. The Pay As You Drive policy allows clients only to pay an amount equivalent to high often they drive and the average distance covered.
Types of car insurance
There are three types of car insurance that you can choose from:
Third party only (TPO) insurance
TPO insurance is typically the option with the lowest cost. However, this option also provides the least coverage.
Under the TPO option, it will typically cover only damages that you caused to other people’s property, such as their car, fences, or streetlights. If your negligence resulted in death or injuries to passengers and third parties, the costs will also be borne by the insurance company.
However, TPO insurance will not cover damages to your own car. This means that any necessary repairs to your car will have to be paid out of your own pocket.
Third party, fire, and theft
Coverage under the third party, fire and theft option is similar to that of TPO insurance. This means that the insurance company will cover any damage costs incurred to another car, but not yours.
This policy also covers instances if your car catches fire, gets vandalised or stolen. As this policy provides a wider coverage, the premiums for this policy is typically higher than TPO insurance.
Comprehensive car insurance
As its name suggests, the comprehensive car insurance provides the widest protection for you and your car. This is also often the most expensive option given its extensive coverage.
Similar to the third party, fire and theft car insurance, it covers damage that you cause to other people’s property or injury to another person. In addition, this policy typically covers repair or replacement of your vehicle if it gets damaged or lost as a result of accident, fire, vandalism or theft.
Some insurance companies may also offer coverage for different items such as damage to your car due to riots or natural disasters. Other items include provision of a courtesy car if your car is in the workshop or insurance coverage for your personal items.
Factors that affect the cost of car insurance
Before you get a quote for your car insurance, do note that the premiums you end up paying will vary from driver to driver. Morbid as it may sound, insurance companies need to work out the likelihood of you getting into an accident and forecast the amount that they will need to pay out.
Here are some of the factors that may affect the premiums you have to pay on your car insurance. Do note that these factors do not necessarily have equal weight in influencing the cost of your premiums.
Age
Statistics have shown that younger drivers are more likely to drive recklessly, easily distracted and have a higher chance of getting into an accident.
Likewise, elderly drivers are also found to have a higher risk of crashing due to their slow reflexes.
Generally in Singapore, people below the age of 30 and above the age of 65 can expect to pay higher premiums.
Driving experience
Besides looking at your age, insurance companies also consider the number of years that you have been driving. This helps them to gauge how experienced you are on the road.
As such, new drivers can expect to pay a higher premium compared to someone with a decade of driving experience.
Occupation
Some insurance companies look at your occupation to determine how often your car will be on the road. If you drive more often, the chances of you getting into an accident is higher than someone who does not drive regularly.
Therefore, if you are in a job that requires frequent travelling, such as a salesman, you may end up being charged a higher premium than someone who works from home.
Make and model of car
If you drive a luxury car or continental car such as a BMW or Lamborghini, expect to pay a higher premium on your car insurance. Likewise, policies that cover cars with larger engine capacity are likely to cost more. This is because it typically costs more to repair such car models.
Age of car
The older your car, the lower the premiums charged on your car insurance. Newer cars tend to attract higher premiums as car parts are typically more expensive to replace.
However, do note that if your car is older than 10 years old, premiums may start to go up again. This is due to the availability of car parts, which makes it expensive to replace due to scarcity.
Claims history
When working out your car premium, insurance companies will take into account the number of claims that you have made in the past, regardless of whether it is with the existing insurance company or with another provider.
If you have made numerous claims in the past, insurance companies are likely to label you as a high-risk driver and charge you with a higher premium.
Tips to lower your car insurance premiums
There are some factors that affect your insurance premiums which you simply have no control over, such as age or driving experience.
Fortunately, here are several factors that you can tweak to keep your insurance premiums low.
Aim for a No Claims Discount (NCD)
Most insurance companies will reward you if you have been practising safe driving. This means offering a discount on your premiums if you have not made any claims.
The discount starts at 10% off your premium if there are no claims made within the first year of starting your car insurance policy. It goes up to 50% if there are no claims made in the past 5 years.
Compare at least 3 car insurance quotes
Always do your due research before you purchase a car insurance policy.
Different insurance providers focus on different coverage benefits. Do compare the various quotes based on the coverage you need instead of simply going with the provider that offers the lowest premium.
Install an in-car camera
Some insurance companies will offer a discount on your premium if you have a front car camera installed.
An in-car camera with recorded footage is likely to be your best evidence in case of any accidents. It also helps your insurance company to settle claims more quickly.
Opt out of personal accident coverage
It is relatively common for insurance companies to sneakily include personal accident coverage as part of their car insurance policies.
If you already have your own personal accident insurance policy, opt for a car insurance policy that does not include personal accident coverage to lower your premiums.
Editor’s Note:
While every precaution has been made to ensure the accuracy and fairness of this listing, we acknowledge that they may be inaccuracies. Therefore, we urge you to contact the service provider above for the correct information and/or contact us with the correct information.
If you are a service provider and wish to be featured in this listing (MediaOne reviews are read by hundreds of thousands of Singaporeans), please contact us at enquiry@mm.com.sg. There is no charge! Please allow us up to 3 working days to review before adjusting the information or including your entry.
