Income's focus on accident protection makes it a good option for consumers looking to maximise peace of mind. Additionally, young drivers who will be driving from the first time will benefit from Income's lax excess policies and helpful accident and claims services.
Table of Contents
|Summary of Income Car Insurance|
|Drivo Classic prices are average but its coverage is above average|
|Drivo premium prices are above average prices but you can choose your workshop|
|Access to Orange Force, their emergency accident response team|
|Great option for those looking for accident and repair-focused plans|
|Good option for drivers between 18-27 who don't want to pay a high excess|
|Cannot buy TPFT or TPO plans online|
Income Drivo Car Insurance Highlights
If you are looking for maximum protection against accident-related events, Income is a good insurer to consider. Its Drivo plans are the classic comprehensive car insurance options and provide coverage for personal accident, medical (you and passengers) and towing in addition to the required third party and loss protection. Additionally, your car will be covered for civil disturbance, malicious acts, natural disasters (including flood), explosions, lightning and theft. The Classic plan is more competitively priced than the Premium plan, undoubtedly due to the Premium plan's "flexible workshop" option. This means if you don't care about which workshop you go to, you can save about 30% with the Classic plan while receiving identical coverage. Additionally, Income rewards loyalty by offering a 5% discount if you've been insuring your vehicle with them for more than 3 years.
Income can also be a good option for new, young drivers (or parents who want to add a young driver to their policy) who are worried about how to handle accidents or claims. Income provides peace of mind benefits like its in-house 24/7 accident response team called Orange Force. To assist policyholders after an accident, Orange Force Riders arrive at the accident scene to guide you through every step of the accident management process. There is also no additional excess for young/inexperienced drivers unless they are unnamed, and you can purchase the policy for drivers as young as 18. In contrast, most other insurers only let you purchase insurance once you hit 20 years of age and will impose an additional S$2,500 YIDR excess. Additionally, Income will not apply the standard excess for your first two claims. This can help save thousands of dollars of out-of-pocket cost when you get in an accident.
However, Income's car insurance plans have a couple drawbacks. First, despite premiums averaging 5-10% below average for drivers with high NCDs, Income's premiums are not very competitive for other types of drivers. Furthermore, you are unable to adjust the amount of standard excess for a higher or lower premium, although admittedly this weakness is ameliorated by the ability to waive the standard excess. Additionally, it does not offer coverage for car accessories and personal belongings. Thus, it may not be a good match for families with small children or those who drive luxury vehicles outfitted with expensive accessories.
Income TPO/TPFT Plans
Income doesn't have the option of purchasing TPO/TPFT plans online, which can be a considerable drawback to those who prefer the ease of purchasing plans at their convenience.
Customisations & Other Options
Income doesn't offer much customisation features, but you can opt for loss of use (temporary transportation), an NCD protector or an excess waiver. However, the latter two have caveats: the NCD protector is applicable only to policies that have a 30% NCD or higher. Also, the NCD protector is automatically included in your policy if you already have a 50% NCD for at least two years while being insured with Income. The excess waiver is only applicable to the Drivo Premium and Classic plan and you can only opt to waive the basic excess of S$600. Income also offers Drivo Prestige, which is for luxury cars—however, premiums for Prestige are very high and the standard excess for each accident claim is S$5,000.
|NCD protector (30%+)||N/A||10% of premium or S$50|
|Daily Transport Allowance||S$50 per day||S$53.50|
|Excess Waiver||Basic Excess of S$600 Only||S$64.20|
Income Car Insurance Exclusions
Income's general car insurance exclusions are fairly standard, but you should make sure you read your policy wording carefully to avoid surprise claim denials. For instance, you won't be covered for loss or damage that occurs if you drive under the influence, if you drive without a license or if someone who's not insured drives your car. You will also not be covered for accidents or damages if your car is overcrowded or if your car is not in roadworthy condition. Other exclusions include:
- Damage or loss arising from purposeful self-injury or attempted suicide
- Damage or loss to cars that aren't registered under the Road Traffic Act
- Damage or loss to cars that have been modified without LTA's approval
- Damage to tires or rims (unless other parts were damaged as well)
- Fraudulent or exaggerated claims
- Damage to the car when used to commit illegal activities
- Liabilities that you agreed to take on that you otherwise would not have
- Damages arising from war or terrorism
- Loss or damage of personal items
- Loss or damage arising from existing damages that were not caused by the accident
- Damage done only to tires or rims
- Loss or damage when your car is being transported by sea
- Indirect loss
As always, you should read your policy wording carefully for the full list of exceptions and exclusion to avoid surprise claim denials.
Claims & Contact Information
If you get into an accident, you must report it within 24 hours to Income and the police. Additionally, if you were the driver during the accident, you have to visit their Motor Service Centre to file the report in person (address below). This is supposed to free you from the hassle of interacting with third-parties, workshops and other insurers. For theft and other claims, you have to report the event and file a claim at any of the Income branches by the following day. If you do not wish to file a claim, you can report the incident online. In this case, if you do not report the claim within 24 hours, you will suffer a 10% deduction in your NCD.
|Accident Response Team Hotline (Orange Force)||+65 6789 5000|
|Claims Assistance and Other Enquiries||+65 6788 6616|
|Online Accident Report (for non-claim reporting)||Form|
|Claims Information||Claim webpage|
|Motor Service Centre||Motor Service Centre, UB. One, 81 Ubi Avenue 4, #01-18/19, Singapore 408830|
|Branch Address||Multiple locations|
Summary of Features & Benefits
Although a car brings convenience to your everyday life, it is not without risks. Buying the right car insurance can mean peace of mind and valuable help whenever you need it. Below, we've outlined Income's Drivo coverage and excess. If you wish to compare it to other plans on the market, we've prepared a guide to the best motor insurance policies in Singapore.
|Accidental Loss/Damage||Market Value||N/A|
|3rd Party Liability (Death)||Unlimited||N/A|
|3rd Party Liability (Damage)||S$5 Mn||N/A|
|Personal Accident (Driver)||S$50,000||N/A|
|Personal Accident (Passengers)||S$50,000||N/A|
|Medical Expenses (Driver & Passengers)||S$1,000||N/A|