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Compare and Buy Car Insurance in Singapore

Buy Car Insurance In 5 Simple Steps

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 insurance promotions are included in our prices
 

Personalised Choice

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.

Unbiased Advice

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.


 Testimonial Car Insurance Robert

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.”
Robert

 

Available Car Insurance Policies

Currently, Insurance Market has the following Car Insurance Policies available to compare and buy directly online:

 
Buy Liberty Private Car Insurance

Liberty Private Car

Private Car with Third Party from S$450

Buy Liberty
Private Car
Compare Car Insurance Plans

Compare Plans

EQ Insurance Classic Plan, China Taiping Autoexcel, China Taiping Autosave, AXA Insurance Essential or SmartDrive & MSIG Insurance MotorMax (Plus)
Compare other Plans
Compare Car Insurance Plans

Compare Plans

Sompo Insurance Gold Plan, Direct Asia Flexible or Value Plan, NTUC Income Drivo Classic or Premim & Aviva Motor Car Policy
Compare other Plans
 
Insurers offer three main types of motor insurance policies;

  1. 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.
  2. 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.
  3. 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.
1 to 1.5 months in advance will be good, so that you have ample time to renew your Road Tax and get your car inspected and passed, if you need to.
If you have not made any claims for a year or more, you are entitled to a No-Claim Discount (NCD). The NCD reduces the policy premium for the following year. This is your insurer’s way to recognize you for being a careful driver. The following table shows how the NCD is set by all insurers across the industry.
Period of insurance with no claim and Discount on renewal
1 year: 10%
2 years: 20%
3 years: 30%
4 years: 40%
5 years or longer: 50%
When the sum insured does not include the COE, the general practice is for insurers to offer a 5% discount off the basic premium computed from the market value of the vehicles.
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.
Insurance premiums change constantly and insurers will compete for different profiles of drivers in order to balance their risk portfolio. Therefore, your current insurer might not be able to give you the best premium. Insurance Market helps you to save money or get better terms on your motor insurance through comparing

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.