Compare and buy car insurance in Singapore from top insurance providers

How much does car insurance cost?

How much does car insurance cost?
keyboard_arrow_up
keyboard_arrow_down
On average, annual car insurance premiums in Singapore range from S$700 to S$1,000. This reflects typical market rates, serving as a good baseline for yearly budgeting. To get an exact car insurance quote, compare car insurance policies here on SingSaver.
What must you look out for when comparing car insurance plans?
keyboard_arrow_up
keyboard_arrow_down
Here's a number of things to keep an eye on:
Coverage optionsLearn about the different coverages the policy offers, like liability, collision, comprehensive, uninsured/underinsured motorist, and personal injury protection. Pick the coverage that fits your needs and assess your risk tolerance.
DeductiblesEvaluate the deductibles for each type of coverage. A higher deductible typically means lower premiums but requires you to pay more out of pocket in the event of a claim.
Policy limitsCheck the policy limits to ensure they provide adequate coverage for your vehicle and assets. Think about your car's value, your financial status, and the possible liabilities if an accident happens. It's all about protecting what matters to you.
Policy exclusions and limitationsReview the policy to learn about exclusions or limitations affecting coverage, like restrictions on driving other vehicles or specific damage types.
DiscountsLook out for available discounts for factors such as safe driving, multiple policies, anti-theft devices, or bundling insurance with other products from the same provider. Using these discounts can reduce your premiums.
Customer reviews and ratingsDive into customer reviews and ratings for the insurance company. Positive reviews are a good sign of a trustworthy insurer who values great customer service.
Claims processGet to know how the insurer handles claims, like how to submit one, how long it might take to get sorted, and what kind of paperwork or proof you might need.
Premiums costsLook at premiums from various insurers and think about what coverage and benefits you get. The least expensive policy might not be the best deal if it's missing important coverage or if the customer service is poor.
Additional benefitsThe policy might offer extra benefits or optional coverage like roadside assistance, rental car reimbursement, or accident forgiveness. Consider if these additional features are worth the extra cost.
How do you purchase a car insurance plan in Singapore?
keyboard_arrow_up
keyboard_arrow_down
You can either buy a car insurance policy directly from an insurer, an insurance broker or through an online comparison platform like SingSaver, depending on your personal preference. If you like auto-renewals, buying directly from your current insurer or agent makes that easy. It might prevent you from comparing better deals and coverage with other insurers though.
How much car insurance is enough?
keyboard_arrow_up
keyboard_arrow_down
The right amount of car insurance balances compulsory motor insurance requirements, protection, risk management, and financial stability. Customise your coverage based on these factors to ensure adequate protection and peace of mind for you and your loved ones.
How can I get cheaper car insurance?
keyboard_arrow_up
keyboard_arrow_down
A car insurance comparison tool like ours helps you find, compare, and pick the best plan for you, with the best price and rewards not available elsewhere. We also offer customer support to assist with your paperwork, especially when you switch providers.
What car insurance is best for new drivers?
keyboard_arrow_up
keyboard_arrow_down
For new drivers, it's wise to choose a comprehensive plan that fits your budget and covers all potential damages in an accident. Premiums and excess are typically higher for new or young drivers, as there are also without the benefits of NCD savings.
How are premiums calculated for electric vehicles?
keyboard_arrow_up
keyboard_arrow_down
In Singapore, insurance costs for electric vehicles (EVs) depend on the vehicle's value, repair costs including battery, the driver's risk profile, safety features, usage, and government incentives. While EVs usually cost more initially and require specialised repairs (especially for batteries, leading to higher premiums), advanced safety features and incentives to encourage EV adoption can help reduce costs.
What is NCD?
keyboard_arrow_up
keyboard_arrow_down
The No Claim Discount (NCD) rewards safe driving habits by reducing the premium on future policy renewals, encouraging cautious driving. The table below showcases how most insurers in the industry for Private Car policies calculate NCD.
Accident-free years	NCD percentage awarded
One Year	10%
Two Consecutive Years	20%
Three Consecutive Years	30%
Four Consecutive Years	40%
Five or More Consecutive Years	50%
Keen to know more about how NCDs work? Read this article: Everything You Need to Know About No-Claims Discount (NCD).
How do I file a car insurance claim?
keyboard_arrow_up
keyboard_arrow_down
Filing a car insurance claim typically involves a few steps:
1. If safe, keep your car stationary after the accident
2. Contact your insurer's assistance hotline instantly
3. Take detailed photos of the accident scene
4. Exchange contact information with the other driver involved
5. Get your car repaired at an approved workshop
How do I renew my car insurance?
keyboard_arrow_up
keyboard_arrow_down
Renewing your car insurance in Singapore is a simple process. Here are the steps you need to take:
1. Gather the documents required by your insurance policy provider like your vehicle registration details, driver's licence, and other relevant documents.
2. Contact your insurance provider to obtain a car insurance renewal quotation based on your current policy and payment history.
3. Compare car insurance renewal quotations from multiple providers and select the best one for you.
4. Make the payment for your car insurance renewal, either by cash, cheque, or credit card.
5. Once you make your payment, your car insurer will process your car insurance renewal.
6. Your car insurance policy documents will reach you via email or post.
Want to know more about renewing your car insurance plan? Read the article here: 5 Things You Need to Check When Buying or Renewing Your Car Insurance Policy
How do I report a car accident?
keyboard_arrow_up
keyboard_arrow_down
If you're involved in a car accident, it's crucial to prioritise safety and follow the necessary steps to ensure a smooth process afterwards. Here's a checklist to guide you:
1. Check everyone's well-being and move vehicles to a safe location.
2. If there are injuries, immediately contact emergency services.
3. Exchange information with the other parties involved.
4. Collect details and contact information from witnesses.
5. Notify the police, even for minor accidents.
6. Document the scene with photos, capturing all relevant details.
7. Promptly contact your insurance company and provide all necessary details.
8. Seek medical attention for any injuries, even minor ones.
9. Follow up with authorities, your insurance, and healthcare providers for proper documentation and resolution.
10. Submit your insurance claim receipts and documents if required to expedite your insurance claims process.
How do you handle a hit-and-run accident?
keyboard_arrow_up
keyboard_arrow_down
Handling a hit and run requires quick and smart actions. Here's what to do:
1. Ensure your and passengers' safety by moving to a safe location.
2. Note the fleeing vehicle's details (make, model, colour, licence plate, etc.) if possible.
3. Call emergency services immediately to report the incident with all details.
4. Get contact information from any witnesses.
5. Document the scene with photos of your vehicle's damage and any other evidence.
6. Inform your insurance company, providing all gathered information.
7. Avoid confronting or following the fleeing driver to ensure your safety.
8. Cooperate with law enforcement, offering any evidence or information you have.
What happens when I cancel my car insurance?
keyboard_arrow_up
keyboard_arrow_down
Cancelling your car insurance depends on your insurer's terms. Usually, cancelling before renewal means you could get back 70% of the unused premium, with the insurer keeping 30%. It's generally better to switch insurers at renewal to avoid penalties. Also, note that insurers can cancel your policy, potentially without a refund, for reasons like suspected fraud or illegal modifications.