Comprehensive Guide to Buy Best Car Insurance in Singapore in 2019

Woo Hoo! I got a new car, It is a Red color Honda Accord , now I will go to get Best Car Insurance in Singapore.But buying a car insurance policy is a tedious, complex and expensive undertaking. Moreover, Finding the best car insurance in Singapore is not just about the best price. You want the best deal that matches your needs and make sure that it covered the unexpected happens.

To make things easier, we have created this Comprehensive Guide to Buying Best Car Insurance in Singapore. So you can find out which is the best car insurance and you will be able to compare car insurance and select the one that works best for your budget, and desired coverage whether you are a Singaporean, an employment pass holder or a permanent resident, so, here we go

  1. Etiqa Comprehensive: Experienced drivers who can take full advantage of the Etiqa Comprehensive plan and can save up to S$681.75* on their car insurance premium yearly. However, despite the low cost of just S$2,727.02* yearly, Etiqa offers solid coverage including personal accident and medical coverage, loss of use benefits and towing expenses. Buy from Insurance market to avail the low price. The company facilitates you to compare car insurance and select the one suited you the best.

*: The above yearly quote is based on my specification: Car is Honda Accord and registered in 2019, single, male with three years of driving experience.

Benefits:

  • 3rd Party Liability (Death) Unlimited Amount
  • 3rd Party Liability (Damage) S$5 Mn
  • Personal Accident (Main Driver) S$20,000
  • Medical S$1,000
  • Windscreen/Window Coverage Unlimited and excess S$100
  • Towing S$200
  • Cover Accident, Fire & Theft, Civil Unrest, and Natural Disaster
  • Young Driver Excess (24 and under) S$2,000
  • Etiqa is one of the few insurers that keep you insured if you are using your car as a carpool.
  • Coverage Score 7.8/10 

Pros:

  • Young female drivers
  • A cheap but good quality plan
  • For Single drivers

Cons:

  • Plan does not automatically include 24-hour roadside assistance
  • Personal accident benefits and medical expenses coverage only covers the insured person.
  • Families may not get the comprehensive coverage
  • Not for risky drivers looking for cheap “any workshop” plans
  • No highly customizable coverage

Read More about Etiqa Car Insurance 

First Look: Etiqa Car Insurance

 

  1. MSIG MotorMax: A very comprehensive car policy with the good medical expense and personal accident coverage. The policy also covers the business usage of cars. However, only MSIG approved workshops are allowed.

This is the most affordable MSIG car insurance, The car insurance covers third-party damage, medical expenses, personal accident, and car repairs at a basic level. The plan works best to insure an older car.

Benefits:

  • Medical Expenses of S$1,000
  • Window Glass S$100
  • Cover Accident, Fire & Theft, Civil Unrest, and Authority to Repair (minor) S$350
  • Maximum compensation S$20,000
  • 3rd Party Property S$5,000,000
  • Personal Accident Benefit Up to S$20,000
  • Coverage Score 8.9/10 

Pros:

  • Car covered even if it is used for business.
  • Best for Older cars, Second-hand cars and Parallel imports
  • MSIG Connected Car mobile app
  • 24-hour Automobile and Medical Assistance Services

Cons:

  • In Claim for breakage of window glass, no excess is involved.

Buy it at S$2,253.71* from Insurance Market

(*: The above yearly quote is based on my specification: Car is Honda Accord and registered in 2019, single, male with three years of driving experience.)

3. MSIG MOTORMAX PLUS: For more extensive coverage, consider the MotorMax Plus. Aside from higher claim benefits, It gives you the privilege to get your car serviced at your choice of workshop. In case the estimated repair is more than 3 days, the plan will get a $50 as transport allowance. Another unique point of this intriguing plan is its loan protection benefit. Pay YEARLY S$2,591.76

Benefits:

  • Excess S$700.0 
  • Personal Accident Coverage S $100,000
  • Medical Expenses S $1,000
  • Maximum compensation S$20,000
  • Cover Accident, Fire & Theft, Civil Unrest, and Authority to Repair (minor) S$350
  • Coverage Score 10.0/10 

Pros:

  • MSIG car insurance quote is quick, accessible and personalized
  • The easy claims process in case of third-party liability

Cons:

  • All young drivers have higher excess.

Read more about MSIG Car Insurance

What should you know about MSIG Car Insurance in 2019?

 

  1. SOMPO Car Insurance: Looking for a budget plan, then consider Sompo’s attractive prices and solid coverage. Due to its static coverage amounts, it may not benefit drivers looking for high coverage or lenient policies. The insurance is a great option for drivers who value affordability over coverage. SOMPO offers three sub plans with a different yearly amount. You can compare car insurance plans and select the one that serves your requirements

Benefits:

SOMPO FOCUS

  • Pay S$2,375.6*YEARLY at Insurance market
  • Excess S$600.0 
  • Insurer Workshop Only 
  • Comprehensive Plan 
  • Coverage Score 6.7/10

SOMPO GOLD

  • S$2,515.36* YEARLY at Insurance market
  • Excess S$600.0 
  • Insurer Workshop Only 
  • Comprehensive Plan 
  • 1/10 Coverage Score 

 

SOMPO PRESTIGE

  • S$2,794.84* YEARLY at Insurance market
  • 3/10 Coverage Score 
  • Excess S$600.0 
  • Choice of Any Workshop 
  • Comprehensive Plan 

 

*: The above yearly quote is based on my specification: Car is Honda Accord and registered in 2019, single, male with three years of driving experience.

Pros

  • For average driver
  • It has its own emergency response team known as MARS, which will arrive at the scene in 20 minutes to help and handle accident
  • You can insure up to 2 more additional drivers with no additional cost besides yourself and your spouse
  • For those who are looking for a policy that rewards loyalty

Cons

  • Not for drivers who carry passengers
  • Not for those who want to go on their own workshop
  • Not a cheap TPO and TPFT plans

Read More about Sompo Car Insurance

What all you want to know About Sompo Car Insurance in 2019?

 

  1. Hong Leong Car Insurance: HL Assurance’s insurance plan is a fairly feature-rich comprehensive policy. The best fit for drivers with a few more years of driving experience. The premium is high for the budget of drivers who haven’t accumulated a high NCD.

Benefits:

Damage to Third Party Property Up to S$5,000,000

Car accessories Up to $1,000

Medical Expenses Coverage Up to S$1,000

Personal Accident benefits for the Policyholder Up to S$20,000, authorized driver: Up to S$10,000 Passengers: Up to S$10,000

Daily transport allowance (up to 10 days if repairs exceed 3 days) S$50 a day, up to a total of S$1,000

Towing after Accident Up to S$500

Authority to repair (for minor repairs) Up to S$300 The Limit is after application of Policy Excess

Pros:

  • Drivers with higher NCDs seeking great value
  • For those who want to minimize excess payments
  • Provide benefits such as a 25% discount whenever you bring your car to any workshop of your choice or authorized workshop (depending on your plan).
  • High medical coverage for policyholder and passengers
    if repairs that take 3 days or more provide daily transport allowance
  • 24/7 roadside assistance
  • Coverage for damage, death to a third party
  • Settlement based on 100% market value of your car at the time of accident or damage caused by fire or theft

Cons:

  • Not for young, senior or inexperienced drivers
  • No extensive customization options available
  • Not for Customers who want to buy TPO or TPFT policy online

As young drivers under 27 can’t even purchase the insurance, make it out of reach for inexperienced, young, or cost-conscious consumers.

  1. AIG Car Insurance: The undoubtedly one of the best Car insurance companies in Singapore. AIG really offers the best value of your money in the Singapore car insurance market.

AutoValue Plan: An authorised Workshop, Best For Older cars, Second-hand cars and Parallel imports

Auto Plan: Any Workshop, Replacement Car is applicable only if cars up to 3 years old, Best for cars up to 3 years old.

AutoPlus Plan: Dealer’s workshop for cars (< 3 years old) If not, Authorised, Replacement Car is applicable only if cars up to 3 years old, Excess Waiver $1,000 for 50% NCD $500 for <50% NCD, Perk is unlimited use of courtesy car Roadside assistance (eg. tyre change), Best For Cars up to 3 years old Your car is your life

Benefits:

  • AutoPlus Plan will waive your policy excess for up to S$1,000 if you already have a 50% NCD
  • Waive 50% of policy excess up to S$500 if your NCD is less than 50%
  • Plans include cover for your car keys and locks for up to S$800
  • Personal accident benefit for all passengers in your car up to S$10,000 each
  • Free 24/7 roadside assistance
  • The implementation of telematics technology into car insurance plans give you the opportunity to save up to 15% on your car insurance premium for driving safely

Pros:

  • Low-risk drivers
  • Highly customizable plan
  • A great deal on TPO and TPFT car insurance

Cons:

  • Not for Higher-risk drivers

How To Find Best Car Insurance In Singapore?

The car insurance premium is the prime factor for considering insurance.

Many insurance companies claim to have the best car insurance deal for you, but how can you be so sure without comparing car insurances? 

Insurance market streamlines the process and provides you a central point of comparison. Here you can compare car insurance plans.Compare car insurance sitting at your home. Fill in our free quotation form, receive a response from our professional insurance brokers.Count on a personalized approach. Our professionals will be determined to find the deal that best reflects your specific requirements.

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  • Get discounts the moment they are live
  • Save time due to autofill of your info
  • 24/7 access to your policies online
  • Control your spend on insurances
  • We are based in Singapore
  • All your information is safe and secure