Compare and Buy Car Insurance in Singapore
We are not just a regular Car Insurance comparison platform. On Insurance Market we stop the confusion and create “zen” by showing you exactly which policy provides you best value for money based on your personalised needs. On top of that, we help you with your admin. We do that by storing your new policy in your own online account, available to you any time anywhere. This account can also be used for other policies you buy through us. This way we create a neat policy overview and enable you to keep your personal details up-to-date, which will come in handy next time you book a policy, saving you from having to endlessly input the same information.
All of us are different and have our own personalised needs. Suitable Car Insurance for one person may not necessarily be the best policy for another. Insurance Market recommends the best Car Insurance policies, based on your personal requirements and preferences.
Best Value for Money
A cheap policy may turn out not providing the level of cover you need and may cost you a lot at the end of the day. We compare insurers not only on price but use sophisticated algorithms to give you a quick score that makes the quality of their coverage comparable. So you have all the info you need to choose.
We look at policies clinically and without bias. We apply our rating models and analysis when we compare across different types of Car Insurance policies in Singapore. We gather all the important information and then recommend the best policies for you to choose from.
What our customers say…
“When I bought my car I also got my insurance at the dealer. When I had to renew I checked out several sites. I found just what I needed to insure my car via Insurance Market.”
Available Car Insurance Policies
Currently, Insurance Market has the following Car Insurance Policies available to compare and buy directly online:
Learn more on Car Insurance
What do you need to know before buying Car Insurance?
Cover and Benefits
- Comprehensive Cover covers repair or replacement of your vehicle if it is damaged or lost as a result of theft, accident, vandalism or weather-related damage. It also covers accidental loss or damage to your car, its spare parts and accessories and liability of claims from third parties for damage to property and people. Comprehensive coverage differs significantly from one insurer to another. You must purchase this policy if your car is financed. We recommend you also buy this policy if you don’t have enough savings to replace the car, or are economically dependent on it.
- Third Party, Fire and Theft Cover covers injury and damage caused by your vehicle to another party’s vehicle or property, it also covers your vehicle if it is stolen or damaged by fire. To purchase this policy, you must not have any loan financing your car. You should also make sure you have enough savings to replace the car, especially if you are economically dependent on it. For newer cars it is better to get comprehensive insurance.
- Third Party Cover covers liability claims from third parties for injury and damage to their vehicle or property caused by your vehicle. To purchase this policy, you must not have any loan financing your car. You should also make sure you have enough savings to replace the car, especially if you are economically dependent on it. For newer cars, it is better to get comprehensive insurance.
A reason for people to choose the “any workshop” scheme is because they have a certain model car which can only be fixed in designated workshops
|Period of insurance with no claim||Discount on renewal|
|5 years or longer||50%|
General & Eligibility
This is because the sum insured does not impact the premium pricing as much as the public might think. Most insurance claims are for repairs rather than total loss. Therefore,
the weightage given to premium pricing for the COE component is correspondingly lower since the bulk for the premiums charged goes towards paying partial loss.
Otherwise, a police report should be made within 24 hours of any accident that involves
- Damage to a government vehicle or property.
- A foreign-registered vehicle
- A hit-an-run incident
- The parties involved should exchange particulars, including their names, identity card numbers, telephone numbers, addresses, insurer and vehicle number. If there are witness, note their contact details.
- If you have a digital camera or camera phone, take photographs of the accident, the vehicles and the scene.
- Call your insurers hotline for a tow truck or for further advice on how to handle the accident
- Report the accident and take your accident vehicle, whether damaged or not, to the approved reporting centre (provided by your insurer) within 24 hours or by the next working day.
- Take with you the completed Singapore Accident Statement, which contains two forms, if you have it. You can also ask your approved reporting centre or authorised workshop to help you fill up the forms
- Avoid discussing which party is at fault. Refer all communication from the other drivers or their lawyers to your insurer. Do not authorise any repair work without the consent of your insurer.
Insurance Market Pte Ltd is a MAS approved broker
Our address is Oxley Biz Hub #03-65, 65 Ubi Road 1, Singapore 408729
The above prices are normal non discounted starting off prices. The actually policy premium maybe higher depending on your personal situation and requirements.