Car Insurance in Singapore: A Buying Guide for First-time Auto Owners

Every first-time car owner must know some basic maintenance tips, such as checking tyre pressure, keeping the engine clean, and changing lubricants and oil filters regularly. Aside from car-care basics, there’s one thing that new drivers should also consider—car insurance.

If you’re buying car insurance in Singapore for the first time, you can choose from the following car insurance plans:

• Third-Party Only (TPO) is the most basic auto insurance plan. It covers third-party death or bodily injury and property damage caused by the vehicle’s owner.
• Third-Party Fire and Theft (TPFT) offers what third party car insurance covers. It also provides fire damage and vehicle theft coverage.
• Comprehensive includes what the third party fire and theft cover, in addition to accidental vehicle damages caused by the car owner. This car insurance plan may also cover medical bills depending on the type and amount of insurance coverage.

5 Best Car Insurance Policies in Singapore

1.      FWD Car Insurance

FWD has become a household name in the insurance industry. The insurance company not only provides home and life insurance, but it also offers comprehensive, TPO, and TPFT car insurance plans.

With FWD’s car insurance, you will be automatically eligible for FWD’s Lifetime No Claim Discount (NCD) Guarantee at 50%. NCD is a discount given to car owners who get through a year without submitting a claim.

Other benefits offered across FWD’s auto insurance include repairs at FWD’s workshops, extended workmanship guarantee until your car turns 10, coverage while driving in West Malaysia and parts of Thailand, 24-hour roadside assistance in case of a breakdown, and more.

You may also customise your insurance plan and its coverage. For example, you may insure any driver who uses your vehicle, increase your excess (the amount required to pay upon a claim) according to your budget, and waive your young driver excess, among other things.

2.      AXA SmartDrive Car Insurance

AXA’s SmartDrive is one of the car insurance in Singapore with a variety of plan options. You can choose from four auto insurance plans—Essential, Flexi, For Her, and Peace. Among these four, the last one has the most comprehensive coverage.

Examples of the things covered in the Peace plan are fire damage, vehicle theft, loss of personal effects, daily and transport allowance, medical and dental expenses, higher flood protection, and windscreen coverage, and to name a few.

Like other auto insurance policies, you can enhance SmartDrive’s coverage for optimal protection. You may consider adding zero excess to get your damage waived, a personal accident cover to receive a monetary sum in the event of permanent disablement or death of you or your named drivers, and more.

3.      Aviva Car Insurance

Aviva’s car insurance also has you, your passengers, and your car covered. This car insurance promises four things that every first-time insurance buyer would find enticing—intact No Claims Discount, low NCD penalty upon insurance claim, 24/7 emergency assistance, and free excess for young drivers.

What’s unique about Aviva’s auto insurance is that it comes with an eCall assistance service, a user-friendly plug that fits into a 12v outlet of any vehicle. This plug-in automatically alerts the company’s emergency team when it detects a crash.

If you wish to enhance your insurance coverage, you may purchase add-ons, including an NCD protector, courtesy car, replacement locks and keys, and additional personal accident cover.

4.      Tokio Marine Commercial Insurance

Bought a car or other vehicle for commercial purposes? The good news is that you can also protect your commercial vehicle against legal liability, damage, and loss—and Tokio Marine is among the many car insurance providers in Singapore that can help you.

Tokio Marine’s comprehensive commercial motor insurance includes unlimited windscreen cover, third party legal liability, and additional protection from floods, windstorms, strikes, riots, and civil commotion.

If you wish to make an insurance claim, accident repairs may either be carried out at any of Tokyo Marine’s approved workshops or any workshop of your choice. However, windscreen replacement done at your preferred workshop has only a limit of $500 for each claim.

5.      Etiqa Auto Insurance

Like other insurance companies, Etiqa also offers comprehensive, third party fire and theft, and third party only auto insurance. All of these insurance types let you drive with peace of mind and protect you and your car from uncertainties.

Other perks included in the comprehensive insurance are towing to repairers or places of safety following an accident, personal accident benefits for the insured (up to S$50,000), medical expenses (up to $1,000), daily transport allowance, and more.

Not only that, but Etiqa’s car insurance plan also allows customisation. You can choose from many add-ons, such as adjustable excess, NCD protector, workshop of your choice, sun/moon roof cover, solar film cover, and gap cover.

Protect You and Your Car

Getting a smooth, safe ride requires more than buckling up and driving with caution. Think of better ways to protect you, your family and your car against many unforeseen events—and one is by purchasing car insurance.

Thankfully, plenty of auto insurance options will suit your needs and budget. If this list looks promising to you, head to your preferred insurance plan and request a car insurance quote online.