Best Cheap Car Insurance in Singapore 2020

Buying a car insurance policy can be a lengthy, complex and an expensive undertaking. We made it simple. Use our in-depth comparison of dozens of motor insurance policies below to find what works best for your budget, car type and desired coverage whether you are a seasoned driver or just got your first car.

Cheapest Car Insurance
  • Budget Direct Car Insurance: 30% cheaper for SUV drivers, 40% cheaper than average for sedan & SUV drivers with 50% NCD's
  • FWD Classic Car Insurance: Best value for money plan; 15-25% cheaper for drivers of sedan cars; lifetime NCD benefit after reaching 50% NCD
  • Aviva Lite: Cheapest for young millenial drivers; 30% cheaper than average for drivers between 25-30 years of age & 15% off for MINDEF/MHA customers
  • Etiqa Comprehensive: Best Car Insurance Promotion; 25% savings on car insurance premiums; best for older, more experienced drivers
Most Comprehensive Car Insurance
  • FWD Prestige Car Insurance: Best for all around coverage; above average benefits for towing, disability & medical coverage
  • Aviva Prestige: Highest coverage for families; 10% below average premiums for married women
  • Income Drivo Premium: Best for accident protection; no excess for young/inexperienced drivers
  • HL Assurance Car Insurance: Best for experienced drivers; 50% NCD is equivalent to a 57% premium discount for long-time drivers

Compare the Cheapest Car Insurance Plans in Singapore

To find the cheapest car insurance plans we compared premiums for a driver of a 2019 Toyotal Corolla Altis from all the car insurers available in Singapore. By changing variables, such as gender, years of driving experience, NCD discounts and car types, we were able to find which car insurers offer the most competitive prices for different types of drivers. While some prioritize keeping their premiums as low as possible by providing basic coverage, others balance affordable prices with comprehensive benefits.

This graph shows the cheapest car insurance premiums in Singapore
Cheapest Car Insurance
  • Budget Direct Car Insurance: 30% cheaper for SUV drivers, 40% cheaper than average for sedan & SUV drivers with 50% NCD's
  • FWD Classic Car Insurance: Best value for money plan; 15-25% cheaper for drivers of sedan cars; lifetime NCD benefit after reaching 50% NCD
  • Aviva Lite: Cheapest for young millenial drivers; 30% cheaper than average for drivers between 25-30 years of age & 15% off for MINDEF/MHA customers
  • Etiqa Comprehensive: Best Car Insurance Promotion; 25% savings on car insurance premiums; best for older, more experienced drivers
Most Comprehensive Car Insurance
  • FWD Prestige Car Insurance: Best for all around coverage; above average benefits for towing, disability & medical coverage
  • Aviva Prestige: Highest coverage for families; 10% below average premiums for married women
  • Income Drivo Premium: Best for accident protection; no excess for young/inexperienced drivers
  • HL Assurance Car Insurance: Best for experienced drivers; 50% NCD is equivalent to a 57% premium discount for long-time drivers

Compare the Cheapest Car Insurance Plans in Singapore

To find the cheapest car insurance plans we compared premiums for a driver of a 2019 Toyotal Corolla Altis from all the car insurers available in Singapore. By changing variables, such as gender, years of driving experience, NCD discounts and car types, we were able to find which car insurers offer the most competitive prices for different types of drivers. While some prioritize keeping their premiums as low as possible by providing basic coverage, others balance affordable prices with comprehensive benefits.

This graph shows the cheapest car insurance premiums in Singapore

Cheapest Car Insurance: Budget Direct Comprehensive

  • Consider this if you want the cheapest car insurance possible
  • Promotion: New customers can get $100* in a NETS FlashPay card, plus extra 5% off premium using promo code HAPPY4.; Use ValueChampion's exclusive Affinity Code/Buddy ID "VALUE5" for another 5% off
  • Read our full review
BenefitLimitExtra CostExcess
Windscreen/Window DamageUnlimitedN/AS$100
Personal Accident (Main Driver)S$20,000S$32.10N/A
Medical CoverageS$500S$21.40N/A
TowingS$200N/AN/A
Temporary TransportS$50/dayS$64.20N/A
Young Driver ExcessS$500
Inexperienced Driver ExcessS$500

Budget Direct's Comprehensive car insurance plan is the best option for sedan and SUV owners who require basic protection and want to pay as little as possible.

Budget's plan is one of cheapest available, with a typical car insurance quote averaging 33-43% less than other budget comprehensive plans for sedan and SUV drivers, regardless of no claim discount (NCD). Married drivers may even see rates that are 52% cheaper than average. However this price cut comes at a cost. Budget Direct's medical, personal accident and roadside assistance coverage comes at an extra cost. Nonetheless, the base premium is low enough that drivers can choose the coverage that matters to them and still pay rock-bottom prices.

Budget Direct has two options to choose from if you need to insure multiple drivers. The Named Driver plan covers the main driver and the named drivers you add to your plan. The Authorised Driver plan costs 15% more than the Named Driver plan but will cover anyone who you let drive your car. Due to the low prices, the Authorised plan still a remains competitively priced option for drivers who lend out their car often. Budget Direct's low named young and inexperienced driver excess of S$500 each also makes it a great option for parents who want to insure their younger drivers.

Consider this plan if you want the cheapest car insurance possible
  • Promotion: New customers can get $100* in a NETS FlashPay card, plus extra 5% off premium using promo code HAPPY4.; Use ValueChampion's exclusive Affinity Code/Buddy ID "VALUE5" for another 5% off
  • Read our full review
BenefitLimitExtra CostExcess
Windscreen/Window DamageUnlimitedN/AS$100
Personal Accident (Main Driver)S$20,000S$32.10N/A
Medical CoverageS$500S$21.40N/A
TowingS$200N/AN/A
Temporary TransportS$50/dayS$64.20N/A
Young Driver ExcessS$500
Inexperienced Driver ExcessS$500

Budget Direct's Comprehensive car insurance plan is the best option for sedan and SUV owners who require basic protection and want to pay as little as possible.

Budget's plan is one of cheapest available, with a typical car insurance quote averaging 33-43% less than other budget comprehensive plans for sedan and SUV drivers, regardless of no claim discount (NCD). Married drivers may even see rates that are 52% cheaper than average. However this price cut comes at a cost. Budget Direct's medical, personal accident and roadside assistance coverage comes at an extra cost. Nonetheless, the base premium is low enough that drivers can choose the coverage that matters to them and still pay rock-bottom prices.

Budget Direct has two options to choose from if you need to insure multiple drivers. The Named Driver plan covers the main driver and the named drivers you add to your plan. The Authorised Driver plan costs 15% more than the Named Driver plan but will cover anyone who you let drive your car. Due to the low prices, the Authorised plan still a remains competitively priced option for drivers who lend out their car often. Budget Direct's low named young and inexperienced driver excess of S$500 each also makes it a great option for parents who want to insure their younger drivers.

Best Value Car Insurance: FWD Classic

  • Consider this plan if you want great value protection for your whole family or drive an SUV
  • Promotion: "VCAR15" for 15% off (Comprehensive Plans only)
  • Read our full review
BenefitLimitExcess
Windscreen/Window DamageUnlimitedS$100
Personal Accident (Main Driver)S$30,000N/A
Personal Accident (Passenger)S$10,000N/A
MedicalS$1,000N/A
TowingS$300N/A
Temporary TransportS$40/dayN/A
Car AccessoriesS$500N/A
YIDR ExcessS$2,500

For families who want a well-balanced yet budget-friendly car insurance plan, FWD Classic is 15-25% cheaper than average for sedan drivers and 6-12% below average for SUV drivers, regardless of citizenship. The plan's coverage features high personal accident, medical and car replacement benefits, lump payments for surviving children and adjustable excess options for young drivers.

FWD car insurance has a few notable benefits. First, it is the only insurer to offer a Lifetime NCD benefit when you reach 50% NCD, which lets you keep your no claim discount even when you file a claim. It also offers roadside assistance for accident and non-accident reasons (such as jump-starting your car). Lastly, FWD pays up to the market value of your car in the event of an accident, and for its parts, fitting the parts and transporting the parts to Singapore if the accident were to happen in other countries. The recent addition of flood coverage and the ability to add named drivers at no additional cost (after the first one) makes FWD an insurer that provides generous coverage for nearly unbeatable prices.

Consider this plan if you want great value protection for your whole family or drive an SUV
BenefitLimitExcess
Windscreen/Window DamageUnlimitedS$100
Personal Accident (Main Driver)S$30,000N/A
Personal Accident (Passenger)S$10,000N/A
MedicalS$1,000N/A
TowingS$300N/A
Temporary TransportS$40/dayN/A
Car AccessoriesS$500N/A
YIDR ExcessS$2,500

For families who want a well-balanced yet budget-friendly car insurance plan, FWD Classic is 15-25% cheaper than average for sedan drivers and 6-12% below average for SUV drivers, regardless of citizenship. The plan's coverage features high personal accident, medical and car replacement benefits, lump payments for surviving children and adjustable excess options for young drivers.

FWD car insurance has a few notable benefits. First, it is the only insurer to offer a Lifetime NCD benefit when you reach 50% NCD, which lets you keep your no claim discount even when you file a claim. It also offers roadside assistance for accident and non-accident reasons (such as jump-starting your car).

Lastly, FWD pays up to the market value of your car in the event of an accident, and for its parts, fitting the parts and transporting the parts to Singapore if the accident were to happen in other countries. The recent addition of flood coverage and the ability to add named drivers at no additional cost (after the first one) makes FWD an insurer that provides generous coverage for nearly unbeatable prices.

Cheapest Car Insurance for Young Millennials: Aviva Lite

  • Consider this plan if you are a young driver or have a lot of car accessories
  • 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

BenefitLimitExtra CostExcess
Windscreen/Window DamageUnlimited @ authorised repairerN/AS$100
Personal Accident (Main Driver)S$100,000S$53.50N/A
Personal Accident (Passenger)S$100,000S$53.50N/A
MedicalS$500N/AN/A
TowingUnlimitedN/AN/A
Car AccessoriesUnlimitedN/AN/A
YIDR ExcessN/AN/AS$2,500

For drivers aged 25-30 who want a cheap car insurance policy with great coverage for their belongings and car accessories, Aviva's Lite plan can be a great option. It costs around 30% less than average for the aforementioned age bracket, making it one of the cheapest plans on the market for young drivers, even with the S$2,500 young/inexperienced driver excess.

Furthermore, this plan becomes the cheapest car insurance plan currently on the market, regardless of your age, if you have a high NCD discount and use Aviva's 20% off promotion. MINDEF/MHA customers may see the greatest savings with this insurer, since Aviva offers an additional 15% off on top of current promotions. For more savings, you can opt for Aviva's 2 year plan that allows you to lock in a price at a 5% discount.

Aviva's child seat and unlimited car accessory (e.g. satellite navigation, radar detection) coverage is sure to impress drivers of accessory-laden cars. Aviva also covers damage from natural disasters and offers coverage for sunroofs, moon-roofs and other glass installations on your car. While other insurers charge extra for these benefits, Aviva includes them as part of their core plan, making Aviva attractive for those who want a cheap plan without sacrificing coverage. If you want to customise your coverage, there is also optional coverage for loss of keys, loss of use (replacement car) and additional personal accident protection.

Consider this plan if you are a young driver or have a lot of car accessories
  • 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
BenefitLimitExtra CostExcess
Windscreen/Window DamageUnlimited @ authorised repairerN/AS$100
Personal Accident (Main Driver)S$100,000S$53.50N/A
Personal Accident (Passenger)S$100,000S$53.50N/A
MedicalS$500N/AN/A
TowingUnlimitedN/AN/A
Car AccessoriesUnlimitedN/AN/A
YIDR ExcessN/AN/AS$2,500

For drivers aged 25-30 who want a cheap car insurance policy with great coverage for their belongings and car accessories, Aviva's Lite plan can be a great option. It costs around 30% less than average for the aforementioned age bracket, making it one of the cheapest plans on the market for young drivers, even with the S$2,500 young/inexperienced driver excess.

Furthermore, this plan becomes the cheapest car insurance plan currently on the market, regardless of your age, if you have a high NCD discount and use Aviva's 20% off promotion. MINDEF/MHA customers may see the greatest savings with this insurer, since Aviva offers an additional 15% off on top of current promotions. For more savings, you can opt for Aviva's 2 year plan that allows you to lock in a price at a 5% discount.

Aviva's child seat and unlimited car accessory (e.g. satellite navigation, radar detection) coverage is sure to impress drivers of accessory-laden cars. Aviva also covers damage from natural disasters and offers coverage for sunroofs, moon-roofs and other glass installations on your car. While other insurers charge extra for these benefits, Aviva includes them as part of their core plan, making Aviva attractive for those who want a cheap plan without sacrificing coverage. If you want to customise your coverage, there is also optional coverage for loss of keys, loss of use (replacement car) and additional personal accident protection.

Best Car Insurance Promotion: Etiqa Comprehensive

  • Consider this plan if you want steep promotional discounts on your car insurance
  • Promotion: 20% + 5% exclusive discount everyday with promo code “VALUECHAMP”
  • Read our full review
BenefitLimitExtra CostExcess
Windscreen/Window DamageUnlimitedN/AS$100
Personal Accident (Main Driver)S$50,000N/AN/A
MedicalS$1,000N/AN/A
TowingS$200N/AN/A
Temporary TransportS$50/dayN/AN/A
Car AccessoriesS$2,000S$85.60 for sun/moon roofsN/A
S$1,000S$21.40 for solar film
YIDR ExcessN/AN/AS$2,000

Experienced, single drivers who can take full advantage of all of Etiqa's promotions at once can save up to 25% on their car insurance premium, resulting in car insurance premiums that are 10% lower than the average comprehensive plan for sedan or SUV drivers. Etiqa offers solid coverage including personal accident and medical coverage, towing expenses and loss of use benefits (if your car is at the workshop after an accident). For an additional fee, you can also protect your sun/moon roof or solar film.

This plan is best for older, experienced drivers for a few reasons. First, Etiqa has a pricey young/inexperienced driver excess of S$2,000. Furthermore, its premiums are not as competitive for drivers with a low or nonexistent No Claim Discount. Lastly, because it lacks accident coverage for your passengers, it may not be ideal for drivers who lack experience navigating Singapore's potentially risky roads. However, due to its above average premiums for married policyholders, we believe this plan will benefit singles better.

If you want to take full advantage of Etiqa's promotions, you should try buying Etiqa's insurance on Fridays as they have an additional 5% off every Friday.

Consider this plan if you want steep promotional discounts on your car insurance
  • Promotion: 20% + 5% exclusive discount everyday with promo code “VALUECHAMP”
  • Read our full review
BenefitLimitExtra CostExcess
Windscreen/Window DamageUnlimitedN/AS$100
Personal Accident (Main Driver)S$50,000N/AN/A
MedicalS$1,000N/AN/A
TowingS$200N/AN/A
Temporary TransportS$50/dayN/AN/A
Car AccessoriesS$2,000S$85.60 for sun/moon roofsN/A
S$1,000S$21.40 for solar film
YIDR ExcessS$2,000

Experienced, single drivers who can take full advantage of all of Etiqa's promotions at once can save up to 25% on their car insurance premium, resulting in car insurance premiums that are 10% lower than the average comprehensive plan for sedan or SUV drivers. Etiqa offers solid coverage including personal accident and medical coverage, towing expenses and loss of use benefits (if your car is at the workshop after an accident). For an additional fee, you can also protect your sun/moon roof or solar film.

This plan is best for older, experienced drivers for a few reasons. First, Etiqa has a pricey young/inexperienced driver excess of S$2,000. Furthermore, its premiums are not as competitive for drivers with a low or nonexistent No Claim Discount. Lastly, because it lacks accident coverage for your passengers, it may not be ideal for drivers who lack experience navigating Singapore's potentially risky roads. However, due to its above average premiums for married policyholders, we believe this plan will benefit singles better.

If you want to take full advantage of Etiqa's promotions, you should try buying Etiqa's insurance on Fridays as they have an additional 5% off every Friday.

Most Comprehensive Car Insurance

If you want the most comprehensive and generous car insurance plan, we found the insurers featured below to offer the best coverage for sedans. These insurers offer top-tier plans focusing on delivering excellent coverage with plenty of unique benefits and features.

Best All-Around Coverage: FWD Prestige

  • Consider this plan if you want to maximise coverage
  • Promotion: "VCAR15" for 15% off (Comprehensive Plans only)
  • Read our full review
BenefitLimitExcess
Windscreen/Window DamageUnlmtdS$100
Personal Accident (Main Driver)S$75,000N/A
Personal Accident (Named Drivers)S$25,000N/A
MedicalS$5,000N/A
TowingS$500N/A
Personal BelongingsS$2,000N/A
Car AccessoriesS$2,000N/A
YIDR ExcessS$2,500

For affluent families who want convenient accident reporting and belongings coverage, FWD's Prestige plan can deliver above average coverage for towing, disability, medical and personal accident coverage.

FWD Prestige also offers a courtesy car for up to three months and S$2,000 of coverage covers for personal belongings and car accessories if your vehicle gets stolen. Additionally, once you receive a 50% NCD, you are guaranteed to keep it for as long as you stay with FWD, regardless of claims.

Some smaller perks include emergency roadside assistance, $80 per occupant taxi coverage after an accident, payment for your children in the event of a catastrophic car accident and legal costs coverage for damaged caused by your car. What makes this plan even better is its 20% cheaper-than-average premium for sedans and 15% cheaper-than-average premium for SUVs.

Consider this plan if you want to maximise coverage
BenefitLimitExcess
Windscreen/Window DamageUnlmtdS$100
Personal Accident (Main Driver)S$75,000N/A
Personal Accident (Named Drivers)S$25,000N/A
MedicalS$5,000N/A
TowingS$500N/A
Personal BelongingsS$2,000N/A
Car AccessoriesS$2,000N/A
YIDR ExcessS$2,500

or affluent families who want convenient accident reporting and belongings coverage, FWD's Prestige plan can deliver above average coverage for towing, disability, medical and personal accident coverage.

FWD Prestige also offers a courtesy car for up to three months and S$2,000 of coverage covers for personal belongings and car accessories if your vehicle gets stolen. Additionally, once you receive a 50% NCD, you are guaranteed to keep it for as long as you stay with FWD, regardless of claims.

Some smaller perks include emergency roadside assistance, $80 per occupant taxi coverage after an accident, payment for your children in the event of a catastrophic car accident and legal costs coverage for damaged caused by your car. What makes this plan even better is its 20% cheaper-than-average premium for sedans and 15% cheaper-than-average premium for SUVs.

Highest Coverage for Families: Aviva Prestige

  • Consider this plan if you are looking for maximum coverage for your family
  • 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
BenefitLimitExcess
Windscreen/Window DamageUnlimited @ authorised repairerS$100
Personal Accident (Main Driver)S$20,000N/A
Personal Accident (Passenger)S$20,000N/A
MedicalS$1,000N/A
TowingUnlimitedN/A
Car AccessoriesS$500N/A
YIDR ExcessS$2,500 (waivable)

Aviva Prestige is the best car insurance for families, especially those who have just bought a car and want maximum peace of mind benefits. Its prices are quite affordable—costing 10-15% below average for married drivers in addition to a young/inexperienced driver (YIDR) excess waiver.

The lack of a YIDR excess makes it especially valuable for parents who share their car with their kids, as they won't be liable for large out-of-pocket payments if their child gets into a car accident. Cash-strapped families who can't afford to sacrifice coverage can practice safe driving to get Aviva's 5% safe driver discount for NCD's of 50% or higher.

Aviva's benefits are plentiful with a focus on repair and accident coverage including roadside assistance, towing, on-site accident reporting and medical coverage for you and your passengers. You and your family will also get a free ride home following an accident (provided towing is necessary). If you want even more coverage, you can add on loss of keys, loss of use and additional personal accident coverage.

Consider this plan if you are looking for maximum coverage for your family
  • 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
BenefitLimitExcess
Windscreen/Window DamageUnlimited @ authorised repairerS$100
Personal Accident (Main Driver)S$20,000N/A
Personal Accident (Passenger)S$20,000N/A
MedicalS$1,000N/A
TowingUnlimitedN/A
Car AccessoriesS$500N/A
YIDR ExcessS$2,500 (waivable)

Aviva Prestige is the best car insurance for families, especially those who have just bought a car and want maximum peace of mind benefits. Its prices are quite affordable—costing 10-15% below average for married drivers in addition to a young/inexperienced driver (YIDR) excess waiver.

The lack of a YIDR excess makes it especially valuable for parents who share their car with their kids, as they won't be liable for large out-of-pocket payments if their child gets into a car accident. Cash-strapped families who can't afford to sacrifice coverage can practice safe driving to get Aviva's 5% safe driver discount for NCD's of 50% or higher.

Aviva's benefits are plentiful with a focus on repair and accident coverage including roadside assistance, towing, on-site accident reporting and medical coverage for you and your passengers. You and your family will also get a free ride home following an accident (provided towing is necessary). If you want even more coverage, you can add on loss of keys, loss of use and additional personal accident coverage.

Best Car Insurance for Accident Protection: Income Drivo Premium

  • Consider this plan if you want personalized service for claims and accident reporting
  • Read our full review
BenefitLimitExtra CostExcess
Windscreen/Window DamageUnlmtdN/AS$100
Personal Accident (Main Driver)S$50,000N/AN/A
Personal Accident (Passenger)S$25,000N/AN/A
MedicalS$1,000N/AN/A
TowingS$500N/AN/A
Loss of UseS$50S$53.50N/A
YIDR ExcessS$2,500 (S$500 if +1 yr exp.)

If you want maximum protection against accidents, Income's Premium car insurance plan offers great accident coverage as well as some peace of mind services via its Orange Force service.

With the Premium plan, you will get above average personal accident covers for drivers and passengers, coverage for natural disasters and theft and the choice of using any workshop. Additionally, you will have Income's Orange Force, a 24/7 accident response team which offers accident assistance including finding alternative transportation, removing vehicles and working in your best interests. This feature can be a great option for new drivers who would like additional legal and insurance assistance. Furthermore, because there is no extra excess for young/inexperienced drivers, Income can be a great option for first-time car buyers who under 27 or have less than two years driving experience.

Consider this plan if you want personalized service for claims and accident reporting
BenefitLimitExtra CostExcess
Windscreen/Window DamageUnlmtdN/AS$100
Personal Accident (Main Driver)S$50,000N/AN/A
Personal Accident (Passenger)S$25,000N/AN/A
MedicalS$1,000N/AN/A
TowingS$500N/AN/A
Loss of UseS$50S$53.50N/A
YIDR ExcessS$2,500 (S$500 if +1 yr exp.)

If you want maximum protection against accidents, Income's Premium car insurance plan offers great accident coverage as well as some peace of mind services via its Orange Force service.

With the Premium plan, you will get above average personal accident covers for drivers and passengers, coverage for natural disasters and theft and the choice of using any workshop. Additionally, you will have Income's Orange Force, a 24/7 accident response team which offers accident assistance including finding alternative transportation, removing vehicles and working in your best interests. This feature can be a great option for new drivers who would like additional legal and insurance assistance.

Furthermore, because there is no extra excess for young/inexperienced drivers, Income can be a great option for first-time car buyers who under 27 or have less than two years driving experience.

Best Car Insurance for Experienced Drivers: HL Assurance Comprehensive

  • Consider this plan if you are a safe driver and want generous coverage for any type of issue
  • Promotion: 25% off + Complimentary car servicing (drivers with 30%+ NCD)
  • Read our full review
BenefitLimitExcess
Windscreen/Window DamageUnlmtdS$100
Personal Accident (Main Driver)S$20,000N/A
Personal Accident (Passenger)S$10,000N/A
MedicalS$1,000N/A
TowingS$500N/A
Loss of UseS$50N/A
Car AccessoriesS$1,000N/A

If your focus is on maintaining your NCD (and being rewarded for it), HL Assurance's car insurance not only provides great all-around coverage but will also reward 50% NCD drivers with a 57% reduction on their premium—one of the highest NCD discounts on the market. Though it costs above average for non-NCD drivers, HL Assurance's premiums drop to around average if you hold a 50% NCD.

While the price may not be the cheapest, it is worth noting that HL Assurance's benefits are quite generous. You will be covered for damage caused by anything from riots to natural disasters, receive daily transportation allowance and have the option of authorising minor repairs—a very rare and valuable feature.

Consider this plan if you are a safe driver and want generous coverage for any type of issue
BenefitLimitExcess
Windscreen/Window DamageUnlmtdS$100
Personal Accident (Main Driver)S$20,000N/A
Personal Accident (Passenger)S$10,000N/A
MedicalS$1,000N/A
TowingS$500N/A
Loss of UseS$50N/A
Car AccessoriesS$1,000N/A

If your focus is on maintaining your NCD (and being rewarded for it), HL Assurance's car insurance not only provides great all-around coverage but will also reward 50% NCD drivers with a 57% reduction on their premium—one of the highest NCD discounts on the market. Though it costs above average for non-NCD drivers, HL Assurance's premiums drop to around average if you hold a 50% NCD.

While the price may not be the cheapest, it is worth noting that HL Assurance's benefits are quite generous. You will be covered for damage caused by anything from riots to natural disasters, receive daily transportation allowance and have the option of authorising minor repairs—a very rare and valuable feature.

Frequently Asked Questions

Yes. Car insurance is a compulsory in Singapore.

A Third-Party Only (TPO) plan is the cheapest and most basic type of car insurance that only covers you for liability against the other party in the event of an accident. Third-Party, Fire & Theft (TPFT) plans cover liability and fire or theft and are more expensive than TPO plans but are around 10% cheaper than comprehensive plans. Both TPO and TPFT plans may be better options for drivers of cars over 10 years old. Comprehensive plans are the most expensive but are recommended for most drivers because they provide a wide breadth of benefits beyond liability and fire/theft such as personal accident, medical and car accessory coverage.

There are several things you should consider to get the best car insurance plan, ranging from the type of car insurance you'll need to your driving experience and budget. Car insurance is notoriously expensive, so the last thing you want to do is to purchase a plan that doesn't fit your needs.

First, there are three types of car insurance policies: TPO, TPFT and comprehensive plans. Knowing the type of coverage you want, whether it is basic fire coverage or comprehensive coverage can narrow your search significantly. Second, when choosing a plan you should consider the type of car you have and your driving experience. For instance, drivers of luxury or European cars that require specialised servicing may fare better with a comprehensive car insurance plan that lets you choose your own workshop. Furthermore, drivers with modified cars will have to find an insurance plan that covers their car's modifications. New drivers may benefit more from a plan offering a plethora of accident-related benefits such as emergency assistance and medical coverage. They should also keep an eye out the inexperienced/young driver excess. On the other hand, seasoned drivers may be better off with a plan providing simple but necessary coverage.

Last, your budget is another thing to consider when choosing a great plan. However, while price can be an important factor, it should not be more important than the coverage you need. The cheapest plan may not be the best option if you are a new driver, the driver of a luxury vehicle or own a family car. For instance, families may benefit more from plans that may be a bit more expensive but will provide coverage for personal belongings, child car seats and a loss of use (temporary car) benefit. If you want to save money on these more expensive options, you should compare rates from different insurers and look into increasing your NCD or signing up for a telematics plan where you get discounts based on good driving habits.

While insurers have similar exclusions, it is worth reading the policy wordings to make sure you know what is and isn't covered by your specific policy. Below, you'll find some common things you won't be covered for.

Common General Exclusions
Depreciation, wear & tearDamage to tyres or rims (unless other parts were also damaged in an accident)
Loss or damage of your car's softwareLoss or damage due to negligence
Loss or damage caused by lawful repossessionLoss or damage caused by war or other enemy acts
Driving a car not in roadworthy conditionDriving a car with unapproved modifications
Driving without a valid license or having a suspended licenseDriving under the influence
Intentional self-injury or suicideAny form of racing or motor competition

You can choose to pay the full amount (the annual premium) or if your insurer gives you the option, you can pay in monthly instalments.

Yes. Your car insurance should cover you when driving in west Malaysia (including Penang) and in Southern Thailand as long as it is within 80 kilometres of its border with west Malaysia.

Methodology

To arrive at our decision for the best car insurance for the average driver, we collected data on car insurance quotes and benefits for a 45-year old male (the average Singaporean age) driver from 12 insurers. To find the average pricing for the average sedan and SUV, we averaged the policy premiums for 4 most popular sedan models (Honda Civic, Mazda 3, Hyundai Elantra and Toyota Corolla Altis) and the 3 most popular SUV models (Nissan Qashqai, Honda HR-V and Toyota Harrier) on the Singapore market. SUVs are generally more expensive than sedans due to their propensity for being riskier vehicles and male and female drivers saw different premiums, with females seeing cheaper pricing across the board. The premiums we compared were for the base plans without any add-ons. This is because each insurer provides different benefits and there is not enough data to assume that the average driver chooses particular benefits.

Additionally, we took into consideration whether an employment pass holder and other foreigners could purchase the car insurance and whether or not their premiums would increase. Thus, the insurers mentioned above consistently won across all driver profiles as either being the cheapest or most comprehensive.

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.

Comments and Questions

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