written_by SingSaver Team
The information on this page is for educational and informational purposes only and should not be considered financial or investment advice. While we review and compare financial products to help you find the best options, we do not provide personalised recommendations or investment advisory services. Always do your own research or consult a licensed financial professional before making any financial decisions.
Best car insurance companies in Singapore
To help you quickly identify the best car insurance in Singapore for your specific needs, we've categorised the top providers based on their strengths:
- Singtel Car Protect: Best for Personal Accident Coverage
- MSIG: Best for Roadside Assistance & Emergency Support
- Etiqa (Tiq) car insurance: Best for Fast & Reliable Claims Assistance
- Great Eastern Drive & Save Plus: Best for High Value Coverage
- Singlife car insurance: Best for new or young drivers
Table of contents
Choosing the right car insurance can be a crucial decision for any driver in Singapore. With a myriad of options available, it's essential to find a policy that offers the best coverage, excellent customer service, and competitive pricing.
This guide will help you navigate the complexities of car insurance and compare different providers to find the best fit for your needs. At SingSaver, our recommendations are based on thorough research, ensuring you make informed decisions about your car insurance coverage.
The following section will delve deeper into the selected insurers, highlighting their key features, coverage options, pricing, and what makes them stand out in their respective category.
5 best car insurance companies in Singapore
Before we dive into the detailed reviews, it's important to understand why you can trust SingSaver and how we choose the best car insurance companies:
Now, let's explore the five best car insurance companies in Singapore based on our evaluation process and strict editorial guidelines:
#1 Singtel Car Protect: Best for Personal Accident Coverage
Singtel CarProtect (Essential)
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| Personal Accident Coverage | S$120,000 |
|---|---|
| Towing | Up to S$ 300.00 |
| Courtesy Car/Transport Allowance | Available as add on |
| REWARDS | |
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eligible_rewards (3)
#2 MSIG: Best for Roadside Assistance & Emergency Support
MSIG MotorMax
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| Personal Accident Coverage | S$20,000 |
|---|---|
| Towing | Up to S$ 500.00 |
| Courtesy Car/Transport Allowance | NA |
| REWARDS | |
| |
eligible_rewards (3)
#3 Etiqa (Tiq) car insurance: Best for Fast & Reliable Claims Assistance
TIQ Comprehensive
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| Courtesy Car/Transport Allowance | S$ 50 /day |
|---|---|
| Towing | Up to S$ 200.00 |
| Personal Accident Coverage | S$50,000 |
| REWARDS | |
| |
eligible_rewards (2)
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#4 Great Eastern Drive & Save Plus: Best for High Value Coverage
Great Eastern Drive and Save Plus
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| Courtesy Car/Transport Allowance | Available as add on |
|---|---|
| Towing | Up to S$ 300.00 |
| Personal Accident Coverage | S$120,000 |
| REWARDS | |
| |
eligible_rewards (2)
#5 Singlife car insurance: Best for new or young drivers
Singlife Motor Lite
on_provider_website
| Courtesy Car/Transport Allowance | Available as add on |
|---|---|
| Towing | Unlimited |
| Personal Accident Coverage | NA |
| REWARDS | |
| |
eligible_rewards (2)
Saver-savvy tip
Has your NCD decreased after an accident? Don't let one claim derail your car insurance savings! Compare quotes from different insurers, as some may offer a lower premium or even an NCD protection benefit that can help you recover your discount faster.
The best car insurance companies according to Reddit users in Singapore
Reddit is a popular online platform where users engage in discussions and share their experiences on various topics, including car insurance in Singapore. To provide a glimpse into real customer perspectives, we've analysed relevant Reddit threads and summarised key takeaways:
Reddit users in Singapore demonstrate a strong price-consciousness when discussing car insurance, often focusing on finding the cheapest options without compromising necessary coverage. Many conversations highlight a preference for online comparison tools and self-service platforms, enabling users to conduct independent research and compare quotes efficiently. The overall sentiment emphasises the importance of value for money, with users actively seeking insurers that offer a balance of comprehensive coverage, competitive pricing, and valuable benefits.
This highlights the importance of thorough research and comparison shopping when choosing car insurance in Singapore. While individual experiences can vary, Reddit provides valuable insights into customer sentiment and can help you make a more informed decision.
Note: These insights are based on anonymous user experiences and should be considered alongside other research and due diligence.
Saver-savvy tip
Each car insurance company has its own method of pricing rates that boils down to your unique circumstances. While you might be hearing reviews or recommendations of a certain company from trusted family and friends, there’s no guarantee that that company’s policy is what’s best for you. It’s always best to get quotes from different companies to compare and pick the one that suits your situation best!
Policy inclusions, discounts, and limited-time offers may cause quotes and rates to change along with your circumstances. Be sure to check with each company if you can get any discounts for NCD, for example, to lock in the best rates possible.
What to consider when choosing car insurance in Singapore
Finding the best car insurance in Singapore requires careful consideration of several key factors:
#1 Car insurance type
The first thing to consider is the type of car insurance coverage. There are generally three types of car insurance plans:
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Third-Party Only: The most basic car insurance plan, this covers injury or death to a third party, plus damage to others’ property. This doesn’t cover the damage to your own vehicle.
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Third-Party Fire and Theft: On top of what Third-Party car insurance offers, this also covers fire damage or theft of your vehicle. Again, this doesn’t cover the cost of other damages to your own vehicle.
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Comprehensive: Includes what Third-Party Fire and Theft covers, plus coverage for the repairs or replacement required for accidental damages to your vehicle. It can also include personal accident and medical expense coverage.
Third-Party Only is the bare minimum you’ll have to get for your car. If you’re looking for more complete coverage, you should instead opt for a comprehensive plan that covers the damages to your vehicle in the event of an accident. Carefully consider all your needs before choosing a plan that suits you best.
#2 How much excess you’re willing to pay
The excess refers to the maximum amount you can expect to pay out of your own pocket in the event of a claim. However, this excess is only paid during instances when you’re at fault. For example, if your policy excess is S$500 and your claim is for S$2,000, you’ll only have to pay S$500 while your insurance company forks out the remaining S$1,500.
How much you’re willing to fork out in policy excess in the event of an accident will affect the car insurance plan you settle on.
In general, the higher the excess, the lower the premiums and vice versa. This is because you take on greater ‘cost’ by paying a higher excess should an accident occur and, therefore, will be rewarded with lower premiums. This is one way to lower your insurance premiums.
#3 Authorised workshop only, or any workshop of your choice
Most car insurance companies in Singapore encourage you to have your repairs done at one of many authorised workshops approved by the insurer. This assures both you and your insurer of the quality and price of repairs.
However, if you have a preferred workshop, or if you’d like the flexibility to have your car repaired at any workshop, you’ll have to opt for a plan that provides such an option. Typically, car insurance plans that allow repairs at any workshop will come with higher premiums.
#4 Premiums and discounts
Compare premiums from different insurers to find the best motor insurance in Singapore. Look for discounts based on your age, driving experience, NCD, and other factors.
#5 Claims process and customer service
Choose an insurer with a straightforward claims process and responsive customer service. Read reviews and compare customer satisfaction ratings before making a decision.
Tips for getting the best car insurance prices
Here are some actionable tips to help you find the best auto insurance at the most affordable price:
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Compare quotes: Use online comparison tools like SingSaver to get car insurance quotes from multiple insurers.
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Drive safely: Maintain a clean driving record to earn NCD and lower your premiums.
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Consider lower coverage for older cars: Comprehensive coverage might not be cost-effective for older vehicles.
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Maintain good credit: A good credit score can sometimes lead to lower insurance premiums.
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Increase your excess: Opt for a higher excess to reduce your premium, but be prepared to pay more in case of a claim.
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Look for discounts: Many insurers offer discounts for safe driving, bundling policies, installing security features, and more, but make sure to be aware of car insurance fraud.
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Consider add-ons or optional benefits: Some insurers offer travel insurance as an add-on to your car insurance policy. Here are 10 Tips To Buying The Right Travel Insurance in Singapore.
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SingSaver Team
At SingSaver, we make personal finance accessible with easy to understand personal finance reads, tools and money hacks that simplify all of life’s financial decisions for you.