Best Car Insurance Promotions 2020

Though car insurance can be very costly, some insurers offer great discounts on their motor insurance policies. To help you compare the best deals, we gathered up the best car insurance promos currently available to make your purchasing decisions easier.

  • Budget Direct Comprehensive: Up to S$111* in a NETS FlashPay card with online purchase of new Comprehensive car insurance plan
  • FWD Comprehensive: "VCAR15" for 15% off + S$100 CapitaVoucher (Comprehensive Plans only)
  • Aviva Comprehensive: 23% off for all vehicles 5 years and newer with "SAVE23" OR 17% off for all vehicles 6 years and older with "CAR17" (new customers); addt'l 15% off MINDEF & MHA customers
  • Direct Asia Comprehensive: S$200 of Shell Fuel for Cars 0-5 Years Old; S$100 of Shell Fuel for Cars > 6 years + 24-Hour Free Breakdown Assistance
  • Etiqa Comprehensive: Get 20% off + $100 Cashback when you purchase via ValueChampion with promo code ‘VCCAR20’
  • HL Assurance Car Protect 360: 25% off + Complimentary car servicing (drivers with 30%+ NCD)

Comparing Car Insurers with the Best Ongoing Promotions

We analysed hundreds of premiums and benefits from dozens of car insurers in Singapore to find out insurers offer the best promotions to save you the most money.

Cheapest Car Insurance: Budget Direct

  • Consider this if you want the cheapest car insurance possible
  • Young/Inexperienced Driver Excess: S$500 (25 and younger)
  • Promotion: Up to S$111* in a NETS FlashPay card with online purchase of new Comprehensive car insurance plan
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$20,000S$32.10N/A
Personal Accident (Passenger)N/AN/AN/A
MedicalS$500S$21.40N/A
TowingS$200N/AN/A

If you are looking for maximum savings, Budget Direct's comprehensive car insurance is the cheapest on the market, even before discounts. Because of this, their main promotion is a bit different than other insurers'. Rather than give you a discount, they will give you S$100 in the event your renewal premium with your current insurer is lower than Budget Direct's for the same level of coverage. However, there are several stipulations before you are eligible for this promotion. You have to be 35 years old or older, have no named drivers under 25 or with less than 2 years of driving experience, have a 30% NCD or higher, not have filed a claim or been in an accident within the past 3 years and your car usage has to be Private and Commuting Use only. Due to these requirements, it seems like you will benefit from Budget Direct if you are an experienced, older driver. However, even if you don't hold an NCD, Budget Direct is still 30% cheaper on average for mid-priced sedan drivers. For even further savings, you'll get a 5% discount if you only drive in Singapore.

Since Budget Direct caters to safe and experienced drivers, coverage is no frills and only provides the essentials. This includes towing, coverage for damage due to vandalism, fallen trees and natural disasters and optional add-ons for medical expense, personal accident, 24 hour roadside assistance, transport allowance and modification and accessory coverage. While this can benefit drivers who don't require comprehensive coverage and wish to only pay for what they use, it may not work well for drivers who want a fully loaded motor insurance plan who are willing to pay extra for a lot of miscellaneous benefits.

Consider this if you want the cheapest car insurance possible
  • Young/Inexperienced Driver Excess: S$500 (25 and younger)
  • Promotion: Up to S$111* in a NETS FlashPay card with online purchase of new Comprehensive car insurance plan
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$20,000S$32.10N/A
Personal Accident (Passenger)N/AN/AN/A
MedicalS$500S$21.40N/A
TowingS$200N/AN/A

If you are looking for maximum savings, Budget Direct's comprehensive car insurance is the cheapest on the market, even before discounts. Because of this, their main promotion is a bit different than other insurers'. Rather than give you a discount, they will give you S$100 in the event your renewal premium with your current insurer is lower than Budget Direct's for the same level of coverage. However, there are several stipulations before you are eligible for this promotion. You have to be 35 years old or older, have no named drivers under 25 or with less than 2 years of driving experience, have a 30% NCD or higher, not have filed a claim or been in an accident within the past 3 years and your car usage has to be Private and Commuting Use only. Due to these requirements, it seems like you will benefit from Budget Direct if you are an experienced, older driver. However, even if you don't hold an NCD, Budget Direct is still 30% cheaper on average for mid-priced sedan drivers. For even further savings, you'll get a 5% discount if you only drive in Singapore.

Since Budget Direct caters to safe and experienced drivers, coverage is no frills and only provides the essentials. This includes towing, coverage for damage due to vandalism, fallen trees and natural disasters and optional add-ons for medical expense, personal accident, 24 hour roadside assistance, transport allowance and modification and accessory coverage. While this can benefit drivers who don't require comprehensive coverage and wish to only pay for what they use, it may not work well for drivers who want a fully loaded motor insurance plan who are willing to pay extra for a lot of miscellaneous benefits.

Best Value Car Insurance: FWD

  • Consider this if you want great value protection for your whole family
  • Young/Inexperienced Driver Excess: S$2,500 (27 and younger)
  • Promotion: "VCAR15" for 15% off + S$100 CapitaVoucher (Comprehensive Plans only)
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$75,000N/AN/A
Personal Accident (Passenger)N/AN/AN/A
MedicalS$5,000N/AN/A
TowingS$500N/AN/A

If you are looking to maximise the value of your car insurance plan, FWD's Comprehensive car insurance policies can be good options as they offer a great combination of affordability and benefits. FWD's promotion gives you premiums that are around 25-30% below average for sedan drivers and 10% below average for SUV drivers. Despite these low prices, FWD offers 3 tiers of coverage, each packed with useful benefits such as towing cost reimbursement, daily transport allowance, car accessories, medical expense, personal accident and personal belongings coverage as well as replacement of lost or damaged keys.

These benefits not only make FWD a good option for value seekers, but it's also a great option for other types of drivers as well. For instance, it is a good option for families due to the generous passengers and medical benefits; for COE or used car drivers looking for TPFT or TPO plans due to its inclusion of benefits that are usually reserved only for Comprehensive plans (such as replacement car benefits and towing coverage); and for luxury car drivers as luxury car premiums around 16-20% cheaper on average.

Consider this if you want great value protection for your whole family
  • Young/Inexperienced Driver Excess: S$2,500 (27 and younger)
  • Promotion: "VCAR15" for 15% off + S$100 CapitaVoucher (Comprehensive Plans only)
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$75,000N/AN/A
Personal Accident (Passenger)N/AN/AN/A
MedicalS$5,000N/AN/A
TowingS$500N/AN/A

If you are looking to maximise the value of your car insurance plan, FWD's Comprehensive car insurance policies can be good options as they offer a great combination of affordability and benefits. FWD's promotion gives you premiums that are around 25-30% below average for sedan drivers and 10% below average for SUV drivers. Despite these low prices, FWD offers 3 tiers of coverage, each packed with useful benefits such as towing cost reimbursement, daily transport allowance, car accessories, medical expense, personal accident and personal belongings coverage as well as replacement of lost or damaged keys.

These benefits not only make FWD a good option for value seekers, but it's also a great option for other types of drivers as well. For instance, it is a good option for families due to the generous passengers and medical benefits; for COE or used car drivers looking for TPFT or TPO plans due to its inclusion of benefits that are usually reserved only for Comprehensive plans (such as replacement car benefits and towing coverage); and for luxury car drivers as luxury car premiums around 16-20% cheaper on average.

Best Car Insurance for NSF with MINDEF/MHA Scheme: Aviva

  • Consider this if you are a young driver or an NSF
  • Young/Inexperienced Driver Excess: S$0-S$2,500
  • Promotion: 23% off for all vehicles 5 years and newer with "SAVE23" OR 17% off for all vehicles 6 years and older with "CAR17" (new customers); addt'l 15% off MINDEF & MHA customers
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimited w/ Aviva authorised repairerN/AS$100
Personal Accident (Driver)Up to S$100,000N/AN/A
Personal Accident (Passenger)Up to S$100,000N/AN/A
MedicalUp to S$5,000N/AN/A
TowingUnlimitedN/AN/A

If you are a young driver or you are an NSF covered under the MINDEF/MHA voluntary scheme insurance policies, you may find Aviva's Comprehensive car insurance to be a great deal. Aviva's Lite plan's premiums are already around 30% below average before taking into account promotions, but with the MINDEF/MHA 15% discount, you can end up with some of the cheapest non-NCD premiums on the market (perfect for those who are new to driving). For a different type of savings, purchasing the Prestige plan will mean your NCD will be reduced only by 10% if you had an at-fault claim—other car insurers generally deduct 30% for at-fault claims.

Though its premiums are generally low, Aviva offers some of the best coverage on the market, including personal belongings, child car seats, medical expenses for you and your passengers, roadside accident assistance, car accessory coverage including audio equipment, and a new car replacement if your car damage repairs are greater than 70% of the value of your car. There is also a plethora of optional benefits including additional personal accident cover, lock and key replacement and loss of use coverage. However, while young drivers or inexperienced drivers may benefit from Aviva, older and more experienced drivers may find they're over-insuring and get more value out of a cheaper albeit simpler policy.

Consider this if you are a young driver or an NSF
  • Young/Inexperienced Driver Excess: S$0-S$2,500
  • Promotion: 23% off for all vehicles 5 years and newer with "SAVE23" OR 17% off for all vehicles 6 years and older with "CAR17" (new customers); addt'l 15% off MINDEF & MHA customers
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimited w/ Aviva authorised repairerN/AS$100
Personal Accident (Driver)Up to S$100,000N/AN/A
Personal Accident (Passenger)Up to S$100,000N/AN/A
MedicalUp to S$5,000N/AN/A
TowingUnlimitedN/AN/A

If you are a young driver or you are an NSF covered under the MINDEF/MHA voluntary scheme insurance policies, you may find Aviva's Comprehensive car insurance to be a great deal. Aviva's Lite plan's premiums are already around 30% below average before taking into account promotions, but with the MINDEF/MHA 15% discount, you can end up with some of the cheapest non-NCD premiums on the market (perfect for those who are new to driving). For a different type of savings, purchasing the Prestige plan will mean your NCD will be reduced only by 10% if you had an at-fault claim—other car insurers generally deduct 30% for at-fault claims.

Though its premiums are generally low, Aviva offers some of the best coverage on the market, including personal belongings, child car seats, medical expenses for you and your passengers, roadside accident assistance, car accessory coverage including audio equipment, and a new car replacement if your car damage repairs are greater than 70% of the value of your car. There is also a plethora of optional benefits including additional personal accident cover, lock and key replacement and loss of use coverage. However, while young drivers or inexperienced drivers may benefit from Aviva, older and more experienced drivers may find they're over-insuring and get more value out of a cheaper albeit simpler policy.

Best Car Insurance for Experienced Drivers: Direct Asia

  • Consider this if you are an experienced driver who likes to customise coverage
  • Young/Inexperienced Driver Excess: S$2,500 (30 and under)
  • Promotion: S$200 of Shell Fuel for Cars 0-5 Years Old; S$100 of Shell Fuel for Cars > 6 years + 24-Hour Free Breakdown Assistance
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$500,000S$53.50N/A
Personal Accident (Passenger)N/AN/AN/A
MedicalS$500S$21.40N/A
TowingS$200N/AN/A

The promotion that secures Direct Asia's car insurance as a great deal for experienced drivers is that they offer a "60% NCD" discount once you have had a 50% NCD for at least the past 5 years. This results in an extra 10% off your premium, which is on top of already attractive premiums that are around 12-30% below average regardless NCD and gender. Direct Asia is also offering a great renewal or sign up promotion for existing Shell Escape Cardmembers.

In terms of benefits, Direct Asia lets you customise your policy so you only pay for what you need. Core benefits include towing and natural disaster, collision, vandalism and damage coverage. You can top up your coverage with S$500,000 of personal accident coverage, medical expenses for you and your passengers, loss of use benefits, accessories and the option to receive a replacement car if yours gets totalled in the first 24 months. While experienced drivers may benefit from being insured with Direct Asia, younger drivers may not benefit as much, as it considers you a young driver all the way up to your 30th birthday, which can keep your premiums inflated for longer than with other insurers.

Consider this if you are an experienced driver who likes to customise coverage
  • Young/Inexperienced Driver Excess: S$2,500 (30 and under)
  • Promotion: S$200 of Shell Fuel for Cars 0-5 Years Old; S$100 of Shell Fuel for Cars > 6 years + 24-Hour Free Breakdown Assistance
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$500,000S$53.50N/A
Personal Accident (Passenger)N/AN/AN/A
MedicalS$500S$21.40N/A
TowingS$200N/AN/A

The promotion that secures Direct Asia's car insurance as a great deal for experienced drivers is that they offer a "60% NCD" discount once you have had a 50% NCD for at least the past 5 years. This results in an extra 10% off your premium, which is on top of already attractive premiums that are around 12-30% below average regardless NCD and gender. Direct Asia is also offering a great renewal or sign up promotion for existing Shell Escape Cardmembers.

In terms of benefits, Direct Asia lets you customise your policy so you only pay for what you need. Core benefits include towing and natural disaster, collision, vandalism and damage coverage. You can top up your coverage with S$500,000 of personal accident coverage, medical expenses for you and your passengers, loss of use benefits, accessories and the option to receive a replacement car if yours gets totalled in the first 24 months. While experienced drivers may benefit from being insured with Direct Asia, younger drivers may not benefit as much, as it considers you a young driver all the way up to your 30th birthday, which can keep your premiums inflated for longer than with other insurers.

Best Car Insurance Promotion: Etiqa

  • Consider this if you want steep promotional discounts on your car insurance
  • Young/Inexperienced Driver Excess: S$2,000 if using authorised workshop (24 and younger)
  • Promotion: Get 20% off + $100 Cashback when you purchase via ValueChampion with promo code ‘VCCAR20’
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$20,000N/AN/A
Personal Accident (Passenger)N/AN/AN/A
MedicalS$1,000N/AN/A
TowingS$200N/AN/A

Etiqa's Comprehensive car insurance can be a great option for drivers seeking to save some money on their car insurance. While Etiqa's car insurance prices don't stand out too much at first glance, Etiqa's promotions can certainly provide some of the best deals in the market if you buy your car insurance at the right time. For instance, on top of the 20% ongoing promotion, you will also save a further 5% if you buy your policy on a Friday. For single drivers looking to score a steep discount on their car insurance premiums, Etiqa will deliver with premiums 10% below the market average.

What is great about Etiqa is that it will provide solid coverage for the majority of drivers despite its very low prices. For example, it provides personal accident, medical, towing and temporary transport coverage in addition to the required fire, theft and third party benefits. You can also buy car accessory coverage for your sun/moon roof or solar film for an extra fee.

Consider this if you want steep promotional discounts on your car insurance
  • Young/Inexperienced Driver Excess: S$2,000 if using authorised workshop (24 and younger)
  • Promotion: Get 20% off + $100 Cashback when you purchase via ValueChampion with promo code ‘VCCAR20’
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$20,000N/AN/A
Personal Accident (Passenger)N/AN/AN/A
MedicalS$1,000N/AN/A
TowingS$200N/AN/A

Etiqa's Comprehensive car insurance can be a great option for drivers seeking to save some money on their car insurance. While Etiqa's car insurance prices don't stand out too much at first glance, Etiqa's promotions can certainly provide some of the best deals in the market if you buy your car insurance at the right time. For instance, on top of the 20% ongoing promotion, you will also save a further 5% if you buy your policy on a Friday. For single drivers looking to score a steep discount on their car insurance premiums, Etiqa will deliver with premiums 10% below the market average.

What is great about Etiqa is that it will provide solid coverage for the majority of drivers despite its very low prices. For example, it provides personal accident, medical, towing and temporary transport coverage in addition to the required fire, theft and third party benefits. You can also buy car accessory coverage for your sun/moon roof or solar film for an extra fee.

Best Car Insurance Promotion for Safe Drivers: HL Assurance

  • Consider this if you are a safe, experienced driver and want generous coverage for both minor and major issues
  • Young/Inexperienced Driver Excess: S$3,000 (27 and younger)
  • Promotion: 25% off + Complimentary car servicing (drivers with 30%+ NCD)
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$20,000N/AN/A
Personal Accident (Passenger)S$10,000N/AN/A
MedicalS$1,000N/AN/A
TowingS$500N/AN/A

If you've been driving for a long time (10 years +) and have a track record of being accident free, you can benefit from HL Assurance's combination of promotions and discounts for their Comprehensive car insurance. Not only will you receive a 25% discount if you have a 30% NCD or higher, but your true 50% NCD discount will be one of the highest on the market at 57%. This results in premiums that are around 20% below average for drivers with 50% NCD discounts.

Additionally, you'll receive some robust benefits and perks rarely seen with other insurers. This includes the ability to authorise minor repairs up to S$300, receive coverage from anything such as riots to natural disasters, halve your standard excess if you use their authorised workshops and have medical expense coverage for authorised drivers and passengers. However, HL Assurance may not appeal to inexperienced drivers or luxury car drivers as premiums for those driver profiles tend to be above the market average.

Consider this if you are a safe, experienced driver and want generous coverage for both minor and major issues
  • Young/Inexperienced Driver Excess: S$3,000 (27 and younger)
  • Promotion: 25% off + Complimentary car servicing (drivers with 30%+ NCD)
  • Read our full review
BenefitsLimitExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Driver)S$20,000N/AN/A
Personal Accident (Passenger)S$10,000N/AN/A
MedicalS$1,000N/AN/A
TowingS$500N/AN/A

If you've been driving for a long time (10 years +) and have a track record of being accident free, you can benefit from HL Assurance's combination of promotions and discounts for their Comprehensive car insurance. Not only will you receive a 25% discount if you have a 30% NCD or higher, but your true 50% NCD discount will be one of the highest on the market at 57%. This results in premiums that are around 20% below average for drivers with 50% NCD discounts.

Additionally, you'll receive some robust benefits and perks rarely seen with other insurers. This includes the ability to authorise minor repairs up to S$300, receive coverage from anything such as riots to natural disasters, halve your standard excess if you use their authorised workshops and have medical expense coverage for authorised drivers and passengers. However, HL Assurance may not appeal to inexperienced drivers or luxury car drivers as premiums for those driver profiles tend to be above the market average.

Things of Note

While promotions are often advertised to entice potential consumers, more often than not, there will always be terms and conditions associated with eligibility. This means that you should always read the terms surrounding the promotion to make sure you will be qualified.

Anastassia Evlanova

Anastassia is a Senior Research Analyst at ValueChampion Singapore, focusing on insurance. She holds degrees in Economics and International Business Management and her prior working experience includes work in the capital markets sector. Her analyses surrounding insurance, healthcare, international affairs and personal finance has been featured on AsiaOne, Business Insider, DW, Vice, Her World, Asia Insurance Review, the Australian Institute of International Affairs and more.

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