Top Motorcycle Insurance Providers in Singapore

Top Motorcycle Insurance Providers in Singapore

Regardless of whether you own a car or motorcycle, it is always good to insure yourself and your loved ones. This is particularly so if you are a major bike enthusiast.

get google ranking ad

Weaving in and out of traffic and overtaking cars during traffic jams is no doubt an exhilarating feeling. However, riding a motorcycle comes with its own risks and getting into an accident can be a painful and even costly affair.

Do you need motorcycle insurance?

get google ranking ad

Just when you think you have saved up enough to buy your dream motorbike in Singapore, there is the mandate to purchase a valid insurance policy for your motorcycle. The insurance policy should cover at least third-party liability for death and bodily injuring arising from usage of the motorbike. 

Under the Singapore Motor Vehicles (Third-Party Risks and Compensation) Act, riding a motorcycle without valid insurance coverage can result in a fine of up to SGD1,000 and/or serve a jail term of up to three months.

Types of motorcycle insurance available

Motorcycle insurance is very much like car insurance, in which there are three options available: Third-party only, Third party, fire and theft, and comprehensive coverage.

The appropriate motorcycle insurance coverage for you really depends on your biking lifestyle. At the same time, you will want to ensure that you are fully aware of what each insurance coverage includes and not just opt for the cheapest one available.

Third-party only

Third-party motorcycle insurance can be viewed as a form of liability insurance to protect yourself against third-party claims. This is the minimum motorcycle insurance coverage that you can get and is also the most basic insurance coverage.

Third-party insurance generally covers you for:

  • Third-party injury to your pillion rider or a person on another motorcycle
  • Damage to another person’s motorcycle
  • Damage to another person’s property.

While this insurance coverage can help to defray some of the cost you need to pay for damages to other people, vehicles or property, do note that you are still responsible for your own damage or losses.

Third Party, Fire and Theft

Third party, fire, and theft provides that same coverage as third-party only insurance. On top of that, it also covers your motorcycle in the event that it gets damaged, destroyed in a fire, or worst case scenario, stolen.

Essentially, third party, fire and theft covers you for:

  • Same coverage under third-party only insurance
  • Damage arising from a result of fire
  • Damage arising from a result of an attempted theft
  • Stolen motorbike

Comprehensive coverage

Comprehensive coverage, as its name suggests, is the highest level of insurance coverage you can purchase for yourself and your motorcycle. Essentially, this insurance coverage covers both third-party liabilities as well as you and your motorcycle.

  • Comprehensive motorcycle insurance policies generally cover:
  • Same coverage under third party, fire and theft
  • Damages incurred to your motorcycle from a result of an accident
  • Personal injuries sustained resulting from an accident

What affects motorcycle insurance premiums?

The cost of motorcycle insurance premiums can vary a lot and depends on various factors such as your age, the type of bike that you own and your riding experience. 

get google ranking ad

As such, it is recommended to get a quote directly from the insurance providers to have a sense of the premium you can expect to pay for your motorcycle insurance. 

Here are some of the common factors that affect the cost of motorcycle insurance premiums.

Age

The younger you are, the higher your motorcycle insurance premium is likely to be. This is because insurance providers expect younger riders to be relatively inexperienced and may possibly ride recklessly. 

Type of bike

Most insurance providers tend to categorise motorcycles by their engine capacity range. As such, if you happen to own a bike with a more powerful engine capacity, you can naturally expect to pay a higher premium. 

Motorcycles with powerful engines are statistically more likely to be ridden in an unsafe way, increasing the likelihood of accidents and resulting in more damages.

Past claim history and No claim discount (NCD)

The longer you have a motorcycle insurance policy without making a claim, the higher the no claims discount (NCD) you can get from your insurance provider. This can help you to save on your motorcycle insurance premiums. Think of it as a small reward for being a safe rider on the roads.

Currently in Singapore, the maximum NCD that you can get is 20% after 3 consecutive years of safe riding without any claims. However, do bear in mind that the NCD is only valid as long as you stay with your existing insurer. 

Year of bike registration

The newer your bike, the higher the motorcycle insurance premiums are likely to be. This is partly attributed to the fact that the parts are likely more expensive to replace.

Type of usage

Not surprisingly, the purpose of you getting a motorcycle – be it for work such as food delivery services or for personal use – can have an impact on your motorcycle insurance premiums as well.

Motorcycle insurance premiums for a bike that you use for commercial purposes are likely to be higher as compared to one used for personal purposes. If you are using your bike for commercial purposes, chances are that you will be riding very often and this may increase the possibility of you getting into an accident.

Where can I purchase motorcycle insurance?

There are plenty of insurance providers in Singapore that provide motorcycle insurance. However, do not simply jump straight into purchasing the first insurance policy that has the lowest insurance premiums.

Understand the level of insurance coverage that you require based on your biking lifestyle and get quotations from various insurance providers. 

It may also be helpful to get recommendations and advice from friends on the type of insurance coverage that they purchase as well the premiums that they are paying. This can give you an idea on the amount of premiums that you can expect to pay depending on how you intend to use your bike as well as the type of bike that you own.

Here are some motorcycle insurance providers to help you find the best insurance plan for your needs and budget

fwd Top Motorcycle Insurance Providers in Singapore

Insurance Provider

FWD Insurance

Speciality

  • 3rd Party Damage Coverage
  • 3rd Party Injury/Death Liability
  • Motorcycle Damage/Loss – market value + excess
  • Emergency Assistance
  • Towing Cost
  • One-Time Transport Cover
Pricing

Contact to request for quotation

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

 


income Top Motorcycle Insurance Providers in Singapore

Insurance Provider

NTUC Income

Speciality

  • 3rd Party Damage Coverage
  • 3rd Party Injury/Death Liability
  • Motorcycle Damage/Loss – market value + excess
  • Emergency Assistance
  • Towing Service
Pricing

Contact to request for quotation

Website

https://www.income.com.sg/

Address
  • 53 Ang Mo Kio Ave 3, #03-18/19 AMK Hub, Singapore 569933
  • 75 Bras Basah Road, Income Centre, Singapore 189557
  • 3 Gateway Drive, #02-40B, Singapore 608532
  • 2 Tampines Central 6, #01-01 Income at Tampines Point, Singapore 529483
  • 900 Woodlands Drive #05-06, Woodlands Civic Centre, Singapore 730900
  • 11 Bedok North Street 1, #01-32 [email protected] Bedok, Singapore 469662
  • 63 Jurong West Central 3, #B1-51/52/53 JP2, Jurong Point Shopping Centre, Singapore 648331

Telephone 

65 6789 9595

Operating Hours

Mon – Fri: 8.30am – 6.30pm

 


direct Asia Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Direct Asia Insurance

Speciality

  • 3rd Party Damage Coverage
  • 3rd Party Injury/Death Liability
  • Motorcycle Damage/Loss – market value
  • Emergency Assistance + excess
  • Towing Service
Pricing

Contact to request for quotation

Website

https://www.directasia.com/
Address

20 Anson Rd, #08-01, Singapore 079912

Contact

Telephone: 65 6665 5555

Email: [email protected]

Operating Hours

Mon – Fri: 8am – 8pm

 


markel international Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Markel

Speciality

  • 3rd Party Damage Coverage
  • 3rd Party Injury/Death Liability
  • Accessory Coverage
  • Funeral Expense
  • Roadside Assistance
  • Customised Road Mapping Service
Pricing

Contact to request for quotation

Website

http://www.markelinternational.com/
Address

138 Market Street, #04-02 CapitaGreen, 048946

Telephone

65 6388 3000

Operating Hours

Mon – Fri: 9am – 6pm

 


Budget Direct Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Budget Direct Insurance

Speciality

  • Additional discounts if bike usage is limited to only in Singapore
  • Covers people who owns vintage bikes
Pricing

Contact to request for quotation

Website

https://www.budgetdirect.com.sg/

Address

190 Clemenceau Ave, #03-01 Singapore Shopping Centre, Singapore 239924

Contact

b: 65 6221 2111

Email: [email protected] 

Operating Hours

  • Mon – Fri: 8am – 8pm
  • Sat: 8am – 3pm

 


etiqa Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Etiqa Insurance

Speciality

  • 3rd Party Damage Coverage
  • 3rd Party Injury/Death Liability
  • Motorcycle Damage/Loss Coverage
  • Motorcycle Theft Protection
  • Towing Service
  • Legal Cost
Pricing

Contact to request for quotation

Website

https://www.etiqa.com.sg/contact/
Address

16 Raffles Quay, Hong Leong Building, #01-04A, Singapore 048581

Contact

Telephone: 65 6887 8777

Email: [email protected]

Operating Hours

Mon – Fri: 8.30am – 5.30pm

 


axa Top Motorcycle Insurance Providers in Singapore

Insurance Provider

AXA Insurance

Speciality

  • Provides coverage for secondhand motorcycles
  • Affordable rates
Pricing

Contact to request for quotation

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

 


HL Assurance Top Motorcycle Insurance Providers in Singapore

Insurance Provider

HL Assurance

Speciality

  • Affordable rates
  • Competitive NCD discount
Pricing

Contact to request for quotation

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

 


AIG Top Motorcycle Insurance Providers in Singapore

Insurance Provider

AIG Insurance

Speciality

  • Only Comprehensive coverage available
  • Affordable rates
Pricing

Contact to request for quotation

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

 


Ensure Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Ensure Insurance

Speciality

  • Option to include up to 4 additional riders
  • No additional charges or premiums on sport bikes
  • Option to pick own workshop for repair works
Pricing

Contact to request for quotation

Website

https://ensureinsurance.sg/
Address

38 Toh Guan Road East #01-57, Enterprise Hub, Singapore 608581

Contact

Telephone: 65 6515 5988

Email: [email protected]

Operating Hours

Mon – Fri: 9am – 6pm

 


 

Gnm Top Motorcycle Insurance Providers in Singapore

Insurance Provider

g&m Pte Ltd

Speciality

  • Covers all classes of motorcycles
  • Includes coverage for motorcycles used for food delivery services
Pricing

Contact to request for quotation

Website

https://www.gnm.com.sg/
Address8 Shenton Way, #13-03 AXA Tower, 068811

Telephone

65 6220 9266

Operating Hours

Mon – Fri: 9am – 6pm

 

digital marketing for different business niches


Sompo Insurance Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Sompo Insurance

Speciality

  • Affordable rates
  • Covers motorcycles used for commercial purposes e.g. food delivery
PricingContact to request for quotation

Website

https://www.sompo.com.sg/
Address50 Raffles Place, #05-01/06 Singapore Land Tower, Singapore 048623

Contact

Telephone: 65 6461 6555

Email: [email protected]

Operating Hours

Mon – Fri: 8.30am – 5.30pm

 


MSIG Top Motorcycle Insurance Providers in Singapore

Insurance Provider

MSIG Insurance

Speciality

  • Affordable rates
  • Covers motorcycles used for commercial purposes e.g. food delivery
PricingContact to request for quotation

Website

https://www.msig.com.sg/
Address4 Shenton Way, SGX Centre, Singapore 068807

Telephone

65 6827 7602

Operating Hours

Mon – Fri: 8.45am – 5.30pm

 


HKL Top Motorcycle Insurance Providers in Singapore

Insurance Provider

HKL Lim Motorsport

Speciality

  • Provides complete support on claim submission
  • Scrap services and motorcycle repairs
PricingContact to request for quotation

Website

https://www.hkllimmotorsport.com.sg/
AddressBlk 1008 #01-24, Bukit Merah Lane 3, Singapore 159722

Contact

Telephone: 65 6275 6656

Email: [email protected]

Operating Hours

  • Mon – Fri: 9.30am – 7.30pm
  • Sat: 9.30am – 6pm
  • Closed on Sundays

 


Tokio Marine Holdings Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Tokio Marine Insurance Group

Speciality

  • Comprehensive insurance plans
  • Trusted commercial partners
  • Additional benefits on premium insurances
  • Exclusive repair workshops available
PricingContact to request for quotation

Website

https://www.tokiomarine.com
Address20 McCallum Street #07-01 Tokio Marine Centre Singapore 069046

Telephone

Telephone: 65 6592 6100

Email: [email protected]

Operating Hours

Mon – Fri: 8.45am – 5.45pm

 


Farmers Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Farmers Insurance Group

Speciality

  • 3rd Party Damage Coverage
  • 3rd Party Injury/Death Liability
  • Collision Coverage
  • Safety Apparel
  • Roadside Assistance
  • Trip Interruption Coverage
PricingContact to request for quotation

Website

https://www.farmers.com/motorcycle/

 


QBE Top Motorcycle Insurance Providers in Singapore

Insurance Provider

QBE Insurance

Speciality

  • Extension coverage options available
  • Affordable rates
PricingContact to request for quotation

Website

https://www.qbe.com/sg/personal-insurance/motor
Address 1, #29-10 Raffles Quay, South Tower, 048583

Telephone

65 6224 6633

Operating Hours

Mon – Fri: 8.30am – 5.30pm

 


Liberty Insurance Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Liberty Insurance

Speciality

  • Offers all ranges of insurance coverage options
  • Covers motorcycle, accessories and spare parts
PricingContact to request for quotation

Website

https://www.libertyinsurance.com.sg/motorcycle
Address51 Club St, Singapore 069428

Contact

Telephone: 65 65423 789

Email: [email protected]

Operating Hours

Mon – Fri: 8.30am – 5.30pm

 


Allianz Top Motorcycle Insurance Providers in Singapore

Insurance Provider

Allianz

Speciality

  • Comprehensive coverage that includes basic liability, accident and physical damage
  • Includes legal protection
PricingContact to request for quotation

Website

https://www.allianz-asiapacific.com/
Address12 Marina View, #14-01 Asia Square Tower 2, Singapore 018961

Telephone

65 6297 8802

Operating Hours

Mon – Fri: 9am – 5.30pm

 


EQ insurance Top Motorcycle Insurance Providers in Singapore

Insurance Provider

EQ Insurance

Speciality

  • Provides coverage for motorcycles used for commercial purposes
PricingContact to request for quotation

Website

https://www.eqinsurance.com.sg/
Address5 Maxwell Road #17-00 Tower Block MND Complex Singapore 069110.

Telephone

Telephone: 65 6223 9433

Email: [email protected]

Operating Hours

Mon – Fri: 8.30am – 5.30pm

 


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 [email protected]. There is no charge! Please allow us up to 3 working days to review before adjusting the information or including your entry.

Author Bio

Tom Koh is widely recognised as a leading SEO consultant in Asia who has worked to transform the online visibility of the leading organisations such as SingTel, Capitaland, Maybank, P&G, WWF, etc. Recently he was instrumental in consulting for a New York-based US$30B fund in an US$4Bn acquisition. Tom is a Computational Science graduate of the National University of Singapore. In his free time he performs pro-bono community work and traveling.
Google+

Leave a Reply

Your email address will not be published. Required fields are marked *

Get FREE Website & Digital Marketing Quote Today!

    Go top
    close-link
    close-link