Top 6 Car Insurance policies in Singapore for you to consider
Singapore has one of the world’s highest car prices, but car ownerships are still on the rise.
There are several factors to consider when you own a car, one of which is auto insurance. The basic car insurance policy just doesn’t cut it anymore; what you need is a comprehensive car insurance plan.
We bring you the top six car insurance policies that are available in Singapore. You won’t need to look for another car insurance guide elsewhere. These are the best car insurance policies in Singapore at your fingertips:
Aviva’s selling point for its car insurance is that they give you three complimentary benefits:
- The Claims Promise: If Aviva is able to confirm that the accident was through no fault of yours, you won’t see a drop in your No Claim Discount (NCD). There won’t be any upfront excess to be paid for either.
- The Repair Guarantee: All repairs done through your Aviva car insurance plan is guaranteed for a year. You won’t have to fret over an additional repair bill.
- The Customer Promise: Aviva ensures that you reach home safely after the unfortunate accident. You’re looking at a complimentary "get you home" cover.
Aviva also throws in these added features into their car insurance plan:
- You can modify the car insurance to suit your needs.
- You can amend or renew your car insurance policy online at any time.
- Aviva provides a child seat cover. It replaces your child’s car seat after an accident or a theft, even if there’s no apparent damage to the car seat itself.
- Aviva pretty much guarantees that help will arrive at the crash scene within 20 minutes of you placing your phone call.
SmartDrive is an instant motor insurance plan. There are 3 plan options – Comprehensive, Third Party, Fire & Theft or Third Party Only – to choose from.
Here are the key benefits of the car insurance plan for you:
- Full market value of your car reimbursed to you if there’s a total loss due to severe damage or theft.
- There is a 24-hour Claims and Emergency Assistance Hotline by AXA that you can contact.
- An extra cover for your windscreen is thrown in at no extra cost to you. This applies under the Comprehensive plan.
- Enjoy instant premium savings of 15% via AXA’s Premium Workshop Scheme, which gives you an enhanced Personal Accident Coverage as the insured for up to S$30,000, nine months of warranty for repairs and a complimentary accident towing service that’s available 24/7.
This insurance plan from AIG has some fantastic perks for the owner of a new car.
- AIG will pay for the same car model and make if the car is damaged beyond repair and is below 12 months old from the registration date.
- The coverage is customisable by the age bracket you choose or the excess amount.
- If you’re accidentally locked out of your own car, AIG will pay for the locksmith or tow truck (if needed). The same protection for your car lock and keys apply if there’s damage due to theft, break-in or a robbery.
- You get a replacement car for you to use for up to 10 days, guaranteed, while your car’s being attended to at the workshop.
- Complimentary 24-hour road assistance and towing service is made available to you for mechanical problems to a flat tyre change. This service is extended to any part of Singapore.
Underwritten by AXA Insurance, there are seven affordable core car plans to choose from, with another range of packs and add-ons to opt for. Here’s a list of the main benefits:
- 24/7 assistance in not only Singapore, but also West Malaysia and Thailand.
- Coverage for passenger risk and liability.
- An added windscreen cover at no extra cost to you as the insurer.
- Coverage towards any accidental loss or damage towards your car.
- Coverage towards hurricanes, earthquakes, floods and other acts of nature.
- NCD protection using HSBC’s NCD Protector.
POSB tells its insurers that they’d be getting great benefits and values at a premium that’s modest. There are two plans to look at: the Value Plan and the Premier Plan. Here’s a quick glance at their features:
- You get to do accident repairs for your car at any MSIG-authorised workshop across the island.
- Unlimited number of authorised drivers.
- Unlimited cover for both your windows and windscreens. Your NCD will not be affected by this.
- Medical expenses of up to $1,000 for the driver and every passenger who was in the car at the time of the accident.
- A Loan Protection Benefit that covers an outstanding car loan for up to $200,000 in the event the policyholder dies due to an accident while driving the insured vehicle (only under the Premier Plan).
- Up to $5 million third-party damage cover if there’s damage to a third party’s property while the insured vehicle is driven.
- A 24-hour careline that has emergency help for roadside repair and emergency towing assistance, a locksmith referral, assistance for claims reports and accident-related police reports.
The DriveShield car insurance plan is underwritten by MSIG Insurance and provides you with the following necessities:
- A competitive online quote for your car insurance plan within a short span of two minutes.
- Up to $200,000 in coverage for your car loan.
- Protected NCD against loss with the NCD Protector benefit (available for 50% NCD holders with an added premium amount)
- Accidental damages, loss by fire and theft will be covered for you vehicle, its accessories and spare parts in not only Singapore, but also West Malaysia and parts of Thailand that are within 80km of the West Malaysia or Thailand border.
- A dedicated 24-hour careline for emergency assistance, covering locksmith referrals, roadside repair and emergency towing services.
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