Best Cheap Car Insurance for Families 2020

We've analysed car insurance plans from 12 insurers in Singapore to find the plans that have the most family-friendly benefits. Below, you'll find our top picks based on your family's budgetary and coverage requirements to help you compare and buy car insurance with ease.

  • Budget Direct: Cheapest car insurance plan; 40% cheaper for married couples compared to average
  • FWD Classic: Best value for money for all types of families; premiums are 15-25% cheaper than average for married policyholders
  • Aviva Prestige: Best for families with young children; family friendly comprehensive coverage; 5% discount for multi-year plan
  • Direct Asia Value: Good for drivers of luxury vehicles such as BMW, Audi or Mercedes

Compare the Best Car Insurance Plans for Families

We analysed hundreds of car insurance quotes and benefits from dozens of insurers in Singapore to find out which plans will give families the best value for their money. Compare and purchase from our top picks based on your budget, your family unit size and type of coverage you need.

This graph shows the cheapest car insurance premiums in Singapore for a married 45-year old male

Cheapest Car Insurance for Families

Even though it may be tempting to go for the cheapest car insurance possible, you'll want to make sure you have adequate protection because you will be insuring not only yourself but also your children. The following car insurance plans are affordable for any budget, minimise out-of-pocket costs and protect every member of your family.

This graph shows the cheapest car insurance premiums in Singapore for a married 45-year old male

Cheapest Car Insurance for Families: Budget Direct Comprehensive

  • Consider this if you are a family of experienced, safe drivers
  • Young/Inexperienced Driver Excess: S$500 (25 and younger)
  • Promotion: Use our exclusive Affinity Code/Buddy ID "VALUE5" for extra 5% off; Get up to S$100 in a NETS FlashPay card till 25 Sept when you purchase a Comprehensive policy
  • Read our full review
BenefitsLimitExtra CostExcess
Personal Accident (Main Driver)S$20,000S$32.10N/A
Personal Accident (Passenger)N/AN/AN/A
Medical CoverageS$500S$21.40N/A
Windscreen CoverageUnlimitedN/AS$100
Car AccessoriesS$500N/AN/A
Loss of UseS$50/dayS$64.20N/A
Loss of Car KeysN/AN/AN/A
Child's Car SeatN/AN/AN/A

If your family unit consists of adults (i.e. a married couple living with older relatives), Budget Direct's car insurance can be a good option not only because of its unbeatable premiums but also because of the coverage and types of plans offered. When analysing quotes, we found that Budget Direct's premiums are around 40% cheaper than average for married couples.

Budget Direct offers two driver plans to choose from: the Named Driver plan and the Authorised Driver plan. The Named Driver plan covers only the Main Driver and the people you include as Named Drivers, while the Authorised Driver plan, covers the policyholder, the main driver (if not the policyholder) and anyone else you let drive your car. Though the Authorised Driver plan is 15% more expensive, your premiums will still be one of the cheapest on the market and can work to your benefit if your car tends to be shared by a lot of relatives.

The one downside to Budget Direct is its basic coverage, which is why we recommend it for experienced, safe drivers who don't need to protect young passengers and don't require comprehensive medical, accident or belongings coverage. Budget Direct mainly offers coverage for damage to your car, towing, and third-party damage, so if you want medical, personal accident, accessory coverage or roadside assistance, you will have to pay an additional fee.

Consider this if you are a family of experienced, safe drivers
  • Young/Inexperienced Driver Excess: S$500 (25 and younger)
  • Promotion: Use our exclusive Affinity Code/Buddy ID "VALUE5" for extra 5% off; Get up to S$100 in a NETS FlashPay card till 25 Sept when you purchase a Comprehensive policy
  • Read our full review
BenefitsLimitExtra CostExcess
Personal Accident (Main Driver)S$20,000S$32.10N/A
Personal Accident (Passenger)N/AN/AN/A
Medical CoverageS$500S$21.40N/A
Windscreen CoverageUnlimitedN/AS$100
Car AccessoriesS$500N/AN/A
Loss of UseS$50/dayS$64.20N/A
Loss of Car KeysN/AN/AN/A
Child's Car SeatN/AN/AN/A

If your family unit consists of adults (i.e. a married couple living with older relatives), Budget Direct's car insurance can be a good option not only because of its unbeatable premiums but also because of the coverage and types of plans offered. When analysing quotes, we found that Budget Direct's premiums are around 40% cheaper than average for married couples.

Budget Direct offers two driver plans to choose from: the Named Driver plan and the Authorised Driver plan. The Named Driver plan covers only the Main Driver and the people you include as Named Drivers, while the Authorised Driver plan, covers the policyholder, the main driver (if not the policyholder) and anyone else you let drive your car. Though the Authorised Driver plan is 15% more expensive, your premiums will still be one of the cheapest on the market and can work to your benefit if your car tends to be shared by a lot of relatives.

The one downside to Budget Direct is its basic coverage, which is why we recommend it for experienced, safe drivers who don't need to protect young passengers and don't require comprehensive medical, accident or belongings coverage. Budget Direct mainly offers coverage for damage to your car, towing, and third-party damage, so if you want medical, personal accident, accessory coverage or roadside assistance, you will have to pay an additional fee.

Best Value Car Insurance for Families of All Sizes: FWD Classic

  • Consider this if you are looking for great value plan focused on accident coverage
  • Young/Inexperienced Driver Excess: S$2,500 (27 and younger)
  • Promotion: "VCAR15" for 15% + $100 CapitaVoucher (Comprehensive Plans only)
  • Read our full review
BenefitsLimitExtra CostExcess
Personal Accident (Main Driver)S$30,000N/AN/A
Personal Accident (Passenger)S$10,000N/AN/A
Medical ExpensesS$1,000N/AN/A
Windscreen DamageUnlimitedN/AS$100
Car AccessoriesS$500N/AN/A
Loss of UseS$40/dayN/AN/A
Loss of Car KeysN/AN/AN/A
Child's Car SeatN/AN/AN/A

If you are looking to maximise protection for your family, FWD's Classic plan has highly competitive premiums and solid accident-focused coverage. Premiums for a married policyholder are 15-25% cheaper than average and you can choose to adjust your standard excess depending on your comfort level and budget. If you are looking to insure your young drivers, you can also opt to waive their S$2,500 young/inexperienced driver excess (YIDR). Though this will slightly increase your premium, it can save you around S$2,000 of out-of-pocket costs if your child gets into an accident while driving your car. Additionally, you do not need to name your drivers—FWD will insure anyone who drives your car at no extra cost.

FWD Classic's coverage includes S$1,000 of medical coverage per passenger, one-time payments for drivers and passengers due to death or permanent disablement and a lump sum payment of S$250,000 in the event of an unfortunate accident where your children are left on their own. These benefits are in addition to coverage for towing costs, temporary transportation and car accessories. The only downside is there is no cover for children's car seats, so if you have children who need one, you will have to pay for any damages out-of-pocket. However, for about a 15% price increase you can opt for FWD's Executive plan, which adds S$1,000 of personal belongings coverage and a free replacement car for up to three months if your car gets totalled—a good tradeoff providing valuable protection and convenience.

Consider this if you are looking for great value plan focused on accident coverage
  • Young/Inexperienced Driver Excess: S$2,500 (27 and younger)
  • Promotion: "VCAR15" for 15% + $100 CapitaVoucher (Comprehensive Plans only)
  • Read our full review
BenefitsLimitExcess
Personal Accident (Main Driver)S$30,000N/A
Personal Accident (Passenger)S$10,000N/A
Medical ExpensesS$1,000N/A
Windscreen DamageUnlimitedS$100
Car AccessoriesS$500N/A
Loss of UseS$40/dayN/A

If you are looking to maximise protection for your family, FWD's Classic plan has highly competitive premiums and solid accident-focused coverage. Premiums for a married policyholder are 15-25% cheaper than average and you can choose to adjust your standard excess depending on your comfort level and budget.

If you are looking to insure your young drivers, you can also opt to waive their S$2,500 young/inexperienced driver excess (YIDR). Though this will slightly increase your premium, it can save you around S$2,000 of out-of-pocket costs if your child gets into an accident while driving your car. Additionally, you do not need to name your drivers—FWD will insure anyone who drives your car at no extra cost.

FWD Classic's coverage includes S$1,000 of medical coverage per passenger, one-time payments for drivers and passengers due to death or permanent disablement and a lump sum payment of S$250,000 in the event of an unfortunate accident where your children are left on their own. These benefits are in addition to coverage for towing costs, temporary transportation and car accessories. The only downside is there is no cover for children's car seats, so if you have children who need one, you will have to pay for any damages out-of-pocket. However, for about a 15% price increase you can opt for FWD's Executive plan, which adds S$1,000 of personal belongings coverage and a free replacement car for up to three months if your car gets totalled—a good tradeoff providing valuable protection and convenience.

Best Car Insurance for Families with Young Children: Aviva Prestige

  • Consider this if you have young children
  • Young/Inexperienced Driver Excess: None
  • Promotion: 20% off with "CAR20" (new customers); addt'l 15% off MINDEF & MHA customers
  • Read our full review
BenefitsLimitExtra CostExcess
Personal Accident (Main Driver)S$100,000N/AN/A
Personal Accident (Passenger)S$100,000N/AN/A
Medical ExpensesS$5,000N/AN/A
Windscreen CoverageUnlimited w/ Aviva WorkshopN/AS$100
Car AccessoriesS$3,000N/AN/A
Loss of UseReplacement Car/10daysS$80.25N/A
Loss of Car KeysS$500S$26.75N/A
Child's Car SeatS$250N/AN/A

If you have young children, Aviva's Comprehensive car insurance plan can be a good fit as it offers child-specific coverage at competitive prices. We found that its premiums are around 25-30% cheaper than for married policyholders, which leaves room in your budget to customise your policy with Aviva's plethora of optional add-ons. However, its core coverage is quite comprehensive as is, since it offers S$250 for your child seat, an accident repair service to assist you during an accident, free transportation services to get you home after the accident, roadside assistance, and medical and personal accident coverage. Another convenient benefit is Aviva's dual-year plan option that saves you an additional 5% on your premium. Overall, Aviva is a great option for new families expecting their first child or families with multiple children due to its family-friendly comprehensive coverage.

Consider this if you have young children
  • Young/Inexperienced Driver Excess: None
  • Promotion: 20% off with "CAR20" (new customers); addt'l 15% off MINDEF & MHA customers
  • Read our full review
BenefitsLimitExtra CostExcess
Driver Personal AccidentS$100,000N/AN/A
Passenger Personal AccidentS$100,000N/AN/A
Medical ExpensesS$5,000N/AN/A
WindscreenUnlimited w/ Aviva WorkshopN/AS$100
Car AccessoriesS$3,000N/AN/A
Loss of UseReplacement Car/10daysS$80.25N/A
Loss of Car KeysS$500S$26.75N/A
Child's Car SeatS$250N/AN/A

If you have young children, Aviva's Comprehensive car insurance plan can be a good fit as it offers child-specific coverage at competitive prices. We found that its premiums are around 25-30% cheaper than for married policyholders, which leaves room in your budget to customise your policy with Aviva's plethora of optional add-ons.

However, its core coverage is quite comprehensive as is, since it offers S$250 for your child seat, an accident repair service to assist you during an accident, free transportation services to get you home after the accident, roadside assistance, and medical and personal accident coverage. Another convenient benefit is Aviva's dual-year plan option that saves you an additional 5% on your premium. Overall, Aviva is a great option for new families expecting their first child or families with multiple children due to its family-friendly comprehensive coverage.

Best Car Insurance for Families with Luxury Cars: Direct Asia Value

  • Consider this if you are an affluent family looking for customisable 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
Personal Accident (Main Driver)S$500,000S$53.50N/A
Personal Accident (Passenger)N/AN/AN/A
Medical CoverageS$500S$21.40N/A
Windscreen CoverageUnlimitedN/AS$100
Car AccessoriesS$5,000S$21.46N/A
Loss of UseS$50/dayS$53.50N/A

If you have multiple cars or your family car is a luxury vehicle, you will benefit most with Direct Asia's competitive prices, customisable coverage and a 10% premium discount for your second car. We found Direct Asia's Value plan to be one of the cheapest options for experienced drivers of luxury vehicles such as BMW, Audi or Mercedes, with premiums that are around 30% below average. It is also the cheapest plan on the market for new drivers who just bought luxury cars, with premiums costing 37% below average for 0% NCD drivers.

Because you most likely trust less people with your car the more expensive it is, the Value plan saves you money by limiting the number of additional named drivers to 4, 2 of whom can be your younger drivers (younger than 30 years old). Additionally, unlike most plans that cap your ability to get a car replacement to 12 months, Direct Asia offers an option to extend this period to 24 months, a great peace of mind benefit for luxury car owners.

In terms of coverage, Direct Asia has comprehensive accident and damage coverage, keeping you insured from everything like fire or vandalism to flooding and natural disasters. It also offers a variety of benefits to add on to your plan to make your policy suited to your needs. If you already have a trusted garage, you can opt to to authorise any workshop for repairs, add protection for driving outside of Singapore and get up to S$500,000 of personal accident protection. You can also add coverage for accessories, medical expenses and loss of use.

Consider this if you are an affluent family looking for customisable 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
Driver Personal AccidentS$500,000S$53.50N/A
Passenger Personal AccidentN/AN/AN/A
Medical CoverageS$500S$21.40N/A
WindscreenUnlimitedN/AS$100
Car AccessoriesS$5,000S$21.46N/A
Loss of UseS$50/dayS$53.50N/A

If you have multiple cars or your family car is a luxury vehicle, you will benefit most with Direct Asia's competitive prices, customisable coverage and a 10% premium discount for your second car. We found Direct Asia's Value plan to be one of the cheapest options for experienced drivers of luxury vehicles such as BMW, Audi or Mercedes, with premiums that are around 30% below average. It is also the cheapest plan on the market for new drivers who just bought luxury cars, with premiums costing 37% below average for 0% NCD drivers.

Because you most likely trust less people with your car the more expensive it is, the Value plan saves you money by limiting the number of additional named drivers to 4, 2 of whom can be your younger drivers (younger than 30 years old). Additionally, unlike most plans that cap your ability to get a car replacement to 12 months, Direct Asia offers an option to extend this period to 24 months, a great peace of mind benefit for luxury car owners.

In terms of coverage, Direct Asia has comprehensive accident and damage coverage, keeping you insured from everything like fire or vandalism to flooding and natural disasters. It also offers a variety of benefits to add on to your plan to make your policy suited to your needs. If you already have a trusted garage, you can opt to to authorise any workshop for repairs, add protection for driving outside of Singapore and get up to S$500,000 of personal accident protection. You can also add coverage for accessories, medical expenses and loss of use.

Methodology

To find the best motor insurance rates for families, we gathered quote and benefit data from 12 car insurers in Singapore and averaged the premium rates for 45-year old married males and females. One main pattern we saw was generally, if you are married you will see lower premiums than if you claim you are single on your policy. We also found that while married men saw higher premiums than married women, the price discrepancy was lower compared to single policyholders. We then segmented the plans based on benefits offered to match plans to different family profiles. However, please note that your premiums will differ based on your age, driving experience, make of car and number of people you choose to insure.

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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