If you are looking for a budget plan, Sompo's attractive prices and solid coverage can make for an enticing option. However, due to its static coverage amounts, it may not benefit drivers looking for lenient or high coverage policies.
Summary of Sompo ExcelDrive Car Insurance
|ExcelDrive Focus||ExcelDrive Gold||ExcelDrive Prestige|
|Has its own emergency response team (MARS)|
|Not the best option for those looking for high medical or passenger coverage|
|Below average cost with average coverage||Above average cost for high NCD male drivers|
|Repairs only at Sompo's workshops for Focus & Gold plans||Repairs at any workshop|
|No option for NCD Protection||Free NCD Protector (30% NCD and up)|
|Promotion:S$50 Capitaland Voucher exclusively with ValueChampion and Vouch Insurance|
Sompo ExcelDrive Car Insurance Highlights
For drivers who care more about saving money than maximising benefits, Sompo's ExcelDrive can be a good choice to consider. Its three plans, the Focus, Gold and Prestige, consistently rank as some of the top most affordable policies for the driver profiles we tested. Additionally, Sompo offers a number of ways to decrease your premium even further. This includes a 5% offense free discount, free NCD protection if your NCD is 30% and above for Gold and Prestige plans (other insurers usually charge extra), loyalty discounts and multiple car discounts.
ExcelDrive's overall coverage is not the most comprehensive, nor is it designed to cater to niche drivers. However, its emergency response service (MARS), waiver of standard excess, repair warranty and personal accident coverage can be appealing to drivers who want a plan designed to offer convenience for accident or damage related events. Additionally, Sompo covers a variety of events including damage or loss due to flood, natural disasters, typhoons and civil disobedience (riots/strikes). Towing costs are also reimbursed up to S$300 if you file for an "own damage" claim after an accident. There are options to purchase additional car accessory and personal accident coverage and an excess buy-up option where you can adjust your premium by changing your standard excess.
However, Sompo falls short in several areas. Its medical expenses cover of S$300 is low compared to many other car insurance plans—even very cheap ones. Furthermore, its personal accident cover extends only to the policyholder and named drivers, and does not include coverage for passengers in your car. Thus, if you have a family or frequently carry passengers in your vehicle, this could be a significant drawback. If you want a policy that focuses on medical and accident protection, you can consider taking a look at a policy from an insurer like FWD or HL Assurance. Lastly, Sompo's optional covers can add hundreds of dollars to your premium so if you have expensive car accessories, you can find insurers like Direct Asia that include this coverage for much cheaper.
Sompo ExcelDrive Focus
If you are looking for a budget car insurance plan, Sompo's ExcelDrive Focus plan can be appealing with its 15-25% below average premiums across all driver profiles (young, old, male, female, luxury or mid-priced cars). Its coverage compares favorably to other cheap plans that may strike out benefits in important areas to keep their prices low. This includes medical, towing, personal accident coverage and emergency assistance. The Focus plan also lets you waive your standard excess up to 50% or S$600 (whichever is lower) for one accident repair done at their preferred workshop. However, the Focus plan does cut out coverage for certain smaller benefits including loss of use and NCD protection. If those things are important to you, but you still have a tight budget, you can consider plans like FWD which includes these benefits in their core plan or for a small extra fee.
Sompo ExcelDrive Gold & Prestige
The ExcelDrive Gold and Prestige plans add several quality of life benefits that can appeal to those who want a bit more coverage but still see savings throughout the course of their insurance period. Gold plan premiums are around 10-20% cheaper than the peer average for male and female drivers (respectively) and Prestige plan premiums are 10% cheaper than average for female drivers. However, the Prestige plan for male drivers is less cost effective as premiums are around or higher than the industry average.
In terms of coverage, these plans add a free NCD protector if you have at least 30% NCD already, a loss of use benefit for S$100 per day for up to 10 days, and a S$1,000 waiver of your standard excess on the first accident repair in the policy year. The main difference between the Gold and Prestige plans is that the Prestige plan lets you choose any workshop for repairs, which makes it a good option for those with luxury cars or have specialty car parts.
Though the Gold and Prestige plans may benefit female drivers and those who enjoy safe-driving related discounts and solid accident coverage, we would not recommend these plans to those who are willing to pay more for higher coverage amounts or male drivers looking for top-tier car insurance plans.This is because medical, personal accident, towing and loss of use coverages don't increase from the Gold to the Prestige plan. For consumers willing to spend more to max out your coverage, or you are a safe male driver who wants an affordable top-tier car insurance policy, insurers like Aviva or FWD could be more fitting.
Sompo TPO & TPFT Plans
Sompo's Third Party Only and Third Party Fire & Theft plans cover only what is legally required: Third-party liability coverage and fire/theft coverage for TPFT plans. They cost around 25% below the industry average for TPO and TPFT plans so they can be a good option for cost-conscious drivers who have old cars not insurable under comprehensive policies. However, if you are looking to sacrifice coverage for the sake of a cheap policy, the TPO or TPFT plans will not be a good option. In fact, if your car is fully financed and you have a 50% NCD, you would actually be better off with Sompo's Focus plan as it is cheaper than the TPO and TPFT plans by around 28%.
Customisations & Other Options
Sompo ExcelDrive offers a few optional add-ons for car accessories and personal accident coverage. You can add up to S$10,000 coverage for gas kits, sports rims, car sound systems (only for those with a 50% NCD) and miscellaneous accessories. There is also a personal accident top up up to S$10,000. Finally, there is an excess buy up option where you can choose to increase your excess in exchange for lower premiums. The options are to buy down your excess up to S$200 for a lower excess but higher premium, or buy up your excess up to S$400 if you want a higher excess but lower premium.
|Compressed Natural Gas Kits||S$1,000-10,000||S$300|
|Car Stereo Set||S$1,000-10,000||S$40-S$400|
Sompo ExcelDrive Claims Information
To file a claim successfully with Sompo, you must report the incident within 24 hours, even if there was no damage or you are not making a claim under your own policy. The type of claim you file depends on how you submit it: Third Party or Own Damage (accident or damage) claims are to be filed at an ExcelDrive workshop and loss of use or windscreen claims can be filed by mail or by email (provided below). Similar to other insurers, if you are late in reporting an accident you will receive a 10% penalty on your NCD.
Summary of Coverage
Knowing exactly what's in your car insurance policy can mean not having to spend hundreds of dollars on out of pocket costs if your car gets damaged. Below, we've outlined Sompo's coverage and applicable excesses. If you want to compare Sompo to other car insurers, you can read our guide to the best car insurance plans 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 (Insured)||S$20,000||N/A|
|Personal Accident (Named Drivers)||S$10,000||N/A|
|Medical Expenses (Insured)||S$300||N/A|
|Windscreen||Unlimited w/ Sompo Workshop||S$100|
|Young Driver Excess (25 and under)||N/A||S$1,500|