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Insurer 3rd Party property Personal accident benefit(S$) Medical expenses(S$) Towing services(S$) Personal property (Damage to car ) Apply
Citibank SmartDrive  
Yes
20,000 500 per person Free Yes Apply
MSIG MotorMax Plus 
Yes
Up to S$5,000,000
100,000 1,000 - Yes Apply
OCBC AXA SmartDrive 
Yes
Up to S$5,000,000
30,000 500 Free Yes Apply
OCBC Autowise  
Yes
Up to S$5,000,000
50,000 500 Free Yes Apply
Aviva Car Insurance  
Yes
Optional up to 100,000 1,000 - Yes Apply
NTUC Car Insurance  
Yes
Up to S$5,000,000
20,000 300 500 Yes Apply
China Taiping Insurance AutoSafe 
Yes
20,000 300 per person - Yes Apply
China Taiping Insurance AutoExcel 
Yes
20,000 300 per person - Yes Apply
Liberty Car Insurance Private Car 
Yes
50,000 1,000 per person 300 Yes Apply
Liberty Car Insurance Privilege Motor 
Yes
50,000 1,000 per person 300 Yes Apply
First Capital Insurance Limited Motor Insurance 
Yes
Yes 300 per person - Yes Apply

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What is Car Insurance?

Mostly known as auto insurance and motor insurance, it is a special kind of insurance policy that is purchased for car maintenance. The primary utility of car insurance is to provide financial protection against physical/internal damages caused by accident, natural calamity, traffic collisions, etc.

However, the terms and conditions as well as legal coverage of car insurance vary from one country to another. Car insurance in Singapore provides extra protection for the policyholder against theft of the vehicle as per the terms and conditions of the policy.

Eligibility Of Car Insurance In Singapore

The eligibility of availing car insurance coverage in Singapore depends on these basic factors:

  • Minimum 18 years of age
  • The main driver is the registered car owner and citizen of Singapore
  • The car is not modified from the standard specification of car as per manufacturers
  • The driving license is not cancelled/suspended since last three years
  • The main driver has not been the subject of any motor claim since last three years excluding windscreen claims
  • The main driver’s car insurance application has not been declined/imposed/terminated as per special rules by any car insurance company of Singapore.
  • What is NCD or NCB?

    In motor insurance, NCD (No-Claim Discount) or NCB (No-Claim Bonus) is a discount offered by car insurers for the car owners who have not made any particular claims within a year or more. The NCD or NCB will be applied to your next policy year.

    Period of insurance with no claim:

  • 1 year - 10% discount
  • 2 years - 20% discount
  • 3 years - 30% discount
  • 4 years - 40% discount
  • 5 years or longer - 50% discount
  • How To Find The Right Level Of Car Insurance Coverage For You In Singapore?

    It is always wise to check some policy option before you finalize the insurance policy. In Singapore choosing the right car insurance level is one of the most significant parts of decision. There are three elements you need to consider while buying a Singapore car insurance.

    Types of coverage: you need to check the coverage of insurance: it can be only of 3rd party coverage or it needs comprehensive coverage as well as theft and burglary coverage protection. Each of these coverage options provides exclusive protection therefore selection of coverage is important.
    Policy extras: Additional and elective features such as breakdown and zero excess for windscreen may vary from one policy coverage to another. A policyholder must consider his requirement before going for selection of car insurance in Singapore.

    How to Claim Car Insurance in Singapore?

    In the case of the accident, you should not take any unauthorised tow-truck operator or any unauthorised repair workshops. It’s very simple, all you need to do:

    • Exchange particulars of involved parties including name, NRIC/FIN, telephone number, address and insurer.
    • Take note of the vehicle numbers or take picture of the plate number
    • Next, take pictures of vehicles involved, damage on all vehicles involved, relevant road features around the accident.
    • Call your insurer’s hotline for a tow truck or seek them for advice on the accident
    • Last but not least, report and bring your accident vehicle to the approved reporting centre or authorised workshop within the 24 hours when the accident occurred.
    • After the claim submission, usually it will take around 14 working days after all documents submitted. You can further check with the insurer or authorised workshop to check on the progress.

      How To Find Cheap Car Insurance In Singapore?

        Car insurance premium is the prime factor for considering a auto insurance option cheap or not. However, the factors like contrast of coverage and car insurance premium are the two issues one should consider. There are multiple ways for finding a lower premium:

        • Choosing a car with small engine is considered lesser risky by insurers, it is easier to keep premium costs at reduced rate.
        • Fitting provider approved security tool like installation of immobilizer or theft alarm can reduce your premium as these tools enhance security.
        • Driving safely and religious avoidance of driving convictions will keep your license clean and obligation free and build up your no claims discount resulting in cheaper discount in future.
        • Checklist For Getting Your Car Insurance

          Before finalization of the car insurance policy it is better to check some factors like:

        • Coverage: check if you need comprehensive insurance coverage or only 3rd party will do.
        • Alteration of voluntary access: check the requirement of premium before your upfront fee.
        • Minimizing optional extras: check the extra benefits in built in the policy and also check without availing these benefits how much premium can be saved.
        • Named driver especially for self-driven cars: it is initially not a free of cost option in car insurance policy however, in case of auto insurance and related claims, having this specification included in the policy, saves money.
        • More the car is old by age, premium amount will go up.
        • Premium of car insurance depends on mileage provided by the car: cars of lower mileage will attract higher premium.
        • Driver’s age below and higher than 30 and 70 need to pay higher insurance premiums in Singapore.
        • History of no claim for last 4 years will lower the premium rate of car insurance in Singapore.
        • iMoney And Car Insurance

          Car insurance is a tool of crisis management. Therefore, a user-friendly company, CRM enabled and after-sales support from Provider Company should be the best option for Singapore car insurance.

        • The premium coverage of iMoney car insurance is not only competitive, they provide the best value of money in all aspects.
        • Making car insurance claim with iMoney is simple like a-b-c and it works faster.
        • There is no hidden cost in the whole car insurance claim processing.
        • iMoney provides most customer friendly medical expense coverage of the driver in case the car meets an accident.
        • Personal accident coverage is found in iMoney comprehensive policy which offers excellent term benefits in case of any fatal accident happens with the car and the driver.

        • Pack yourself with the latest news and updates on Car Insurance Plan in Singapore.

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