Car Insurance

Best Cheap Car Insurance 2018

We've conducted an in-depth research on the best and the cheapest car insurance plans in Singapore based on hundreds of data points.

Buying a car insurance policy is a lengthy, complex and an expensive undertaking. Use our in-depth comparison of dozens of motor insurance policies available in Singapore below to find what works best for your budget, car type and desired coverage whether you are a Singaporean, permanent resident or employment pass holder,

Table of Contents

Cheapest Car Insurance in Singapore

Whether you are male or female, a brand new driver or a seasoned one with a 50% NCD, we found the policies featured below to be the cheapest sedan and mid-priced SUV insurance plans. While some prioritize keeping their premiums as low as possible by providing basic coverage, others balance affordable prices with comprehensive benefits.

This graph shows the cheapest car insurance premiums in Singapore

Best Value Car Insurance: FWD Classic

Consider this if you want great value protection for your whole family or drive an SUV

Third Party Damage Coverage S$5,000,000
Workshop Type Authorised
Coverage for Loss/Damage to Vehicle 100% of Market Value

For families who want a well-balanced yet budget-friendly car insurance, FWD's Classic plan is 30-40% cheaper than average for male and female sedan drivers and 15% cheaper for SUV drivers regardless of citizenship. The plan includes high personal accident, medical and car replacement coverage, lump payments for surviving children and adjustable excess options for young drivers.

One of FWD's notable benefits is its Lifetime NCD benefit when you reach 50% NCD, letting you keep your NCD even when you file a claim. Another great feature of FWD is that it pays up to the market value of your car in the event of an accident, and for its parts, fitting the parts and transporting the parts to Singapore if the accident were to happen in other countries. The recent addition of flood coverage and the ability to add named drivers at no additional cost (after the first one) makes FWD an insurer that provides generous coverage for nearly unbeatable prices. Read our full review.

FWD ClassicCoverageExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Main Driver)S$30,000N/AN/A
Personal Accident (Passenger)S$10,000N/AN/A
MedicalS$1,000N/AN/A
TowingS$300N/AN/A
Car Replacement/Temporary TransportS$40/dayN/AN/A
Car AccessoriesS$500N/AN/A
Young Driver ExcessN/AN/AS$2,500
Promotion: 20% off with "BESTCAR" + S$150 CapitaVoucher

Cheapest Car Insurance: Budget Direct Comprehensive

Consider this if you want the cheapest car insurance possible

Third Party Damage Coverage S$5,000,000
Workshop Type Any
Coverage for Loss/Damage to Vehicle 100% of Market Value

Budget Direct's Comprehensive car insurance plan is the best option for sedan and SUV drivers looking to pay as little as possible and require only basic protection. As the cheapest insurer, it is 20% cheaper on average for sedan premiums for non-NCD holders, 30% cheaper on average for SUV drivers and 40% cheaper on average for sedan and SUV drivers with a 50% NCD discount. There is also a 14 day cooling-off period for you to test policy before purchasing it, which is a valuable feature for cautious customers who want to try things out before committing. One downside, however, is Budget Direct's medical, personal accident and roadside support coverage come at an extra cost.

If you need to insure multiple drivers for your car, Budget Direct has two options to choose from: the Named Driver plan and the Authorised Driver plan. The Named Driver plan is cheaper but only covers the main driver and any other named drivers you add on your plan. On the other hand, the Authorised Driver option is 15% more expensive, but it insures anyone you allow to drive your car). However, even with the 15% increase in cost, you will still be spending 10% less than the next cheapest plan on the market. Additionally, it has the lowest named young and inexperienced driver excess, each at S$500 for drivers younger than 25 or drivers with 2 years or less of experience—making it a great option for parents who want to insure their younger drivers. Read our full review.

Budget Direct ComprehensiveCoverageExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Main Driver)S$20,000S$32.10N/A
Medical CoverageS$500S$21.40N/A
TowingS$200N/AN/A
Car Replacement/Temporary TransportS$50/dayS$53.50N/A
Young/Inexperienced DriversN/AN/AS$500
Promotion: Get S$100 if your current insurer offers cheaper premiums than Budget Direct upon renewal (even if you don't end up purchasing a Budget Direct policy)

Cheapest Car Insurance for New Drivers: Aviva Lite

Consider this if you are a young driver or have a lot of car accessories

Third Party Damage Coverage S$5,000,000
Workshop Type Any
Coverage for Loss/Damage to Vehicle 100% of Market Value

For drivers (aged 25-30) who want a cheap car insurance policy with great coverage for their belongings and car accessories, Aviva's Lite plan can be a great option. It costs around 40% less than average for men and women regardless of NCD discount. This makes it the cheapest plan on the market for young drivers, even with the S$2,500 young/inexperienced driver excess. Not only that, you can save an additional 5% per year by opting for Aviva's 2 year plan that allows you to lock-in a price at a discount.

Some of Aviva's notable benefits sure to impress drivers of accessory-heavy cars or SUVs include coverage for child seats and unlimited car accessories (i.e. satellite navigation, radar detection). While other insurers charge extra for some (or all) of these coverages, Aviva includes them as part of their core plan, making Aviva attractive for those who want a cheap plan without sacrificing coverage. If you want to customise your coverage, there are also optional coverage for loss of keys, loss of use (replacement car) and additional personal accident protection. Aviva also covers damage from natural disasters and offers glass coverage for sunroofs, moonroofs and other glass installations on your car. Read our full review.

Aviva LiteCoverageExtra CostExcess
Windscreen/Window CoverageUnlimited @ authorised repairerN/AS$100
Personal Accident (Main Driver)S$100,000S$53.50N/A
Personal Accident (Passenger)S$100,000S$53.50N/A
MedicalS$500N/AN/A
TowingUnlimitedN/AN/A
Car AccessoriesUnlimitedN/AN/A
Young/Inexperienced Driver (25 and under)N/AN/AS$2,500
Promotion: 15% off for MINDEF/MHA policyholders; S$150 CapitaVoucher for dual-year plans

Cheapest Car Insurance for Accident Coverage: Sompo ExcelDrive Focus

Consider this if you want to maximise savings and accident coverage

Third Party Damage Coverage S$5,000,000
Workshop Type Authorised
Coverage for Loss/Damage to Vehicle 100% of Market Value

Sompo's ExcelDrive Focus plan is a great option for cost-conscious consumers looking for peace of mind coverage, with premiums 20% cheaper than average for male drivers and 30% cheaper than average for female drivers. By clicking on the link above, you can save up to an additional 15% on your car insurance premium if you buy from our insuretech partner Vouch Insurance. Your No-Claim Rebate (NCR) can save you around S$200, provided you had zero at-fault claims in the policy year.

It provides great coverage against car damage and accidents, and is one of the few insurers providing coverage for damage caused by riots, strikes and civil unrest. Additionally, Sompo has its own emergency response team (MARS), which will arrive at the scene in 20 minutes to help you handle your accident. Another great feature is that Sompo lets you insure up to two more additional drivers besides you and your spouse at no additional cost (after, there is an added cost of S$26.75 for each driver). However, Sompo has fairly strict exclusions and there is no NCD protector for the Focus plan, which can deter drivers looking for flexible insurers. Read our full review.

Sompo ExcelDrive FocusCoverageExtra CostExcess
Windscreen/Window CoverageUnlmtdN/AS$100 (S$0 at appointed workshop)
Personal Accident (Main Driver)S$20,000N/AN/A
Personal Accident (Passenger)S$10,000N/AN/A
MedicalS$300N/AN/A
TowingS$300N/AN/A
AccessoriesVariedS$40-S$800N/A
Young/Inexperienced DriverN/AN/AS$1,500

Best Car Insurance Promotion: Etiqa Comprehensive

Consider this if you want steep promotional discounts on your car insurance

Third Party Damage Coverage Unlimited
Workshop Type Authorised
Coverage for Loss/Damage to Vehicle 100% of Market Value

Experienced drivers who can take full advantage of all of Etiqa's promotions at once can save up to 53% on their car insurance premium, resulting in prices 40% lower than the average comprehensive plan for sedans and SUVs. Though its premiums are low, Etiqa offers solid coverage including personal accident and medical at no extra cost, loss of use benefits (if your car is at the workshop after an accident), and towing expenses. For an additional fee, you can also protect your sun/moon roof or solar film. However, this plan is best for older, experienced drivers as Etiqa has a pricey young/inexperienced driver excess of S$2,000. It also lacks accident coverage for your passengers, which may not be ideal for families. If you want to take full advantage of the promotions, you should try buying Etiqa's insurance first thing Friday mornings as they have an additional 5% off every Friday and 28% off for the first 5 customers daily. Read our full review.

Etiqa ComprehensiveCoverageExtra CostExcess
Windscreen/Window CoverageUnlimitedN/AS$100
Personal Accident (Main Driver)S$20,000N/AN/A
Personal Accident (Passenger)N/AN/AN/A
MedicalS$1,000N/AN/A
TowingS$200N/AN/A
Car Replacement/Temporary TransportS$50/dayN/AN/A
Car AccessoriesS$2,000S$85.60 for sun/moon roofsN/A
S$1,000S$21.40 for solar film
Young Driver ExcessN/AN/AS$2,000
Promotion: 20% off + 5% off Fridays + 28% off for the first 5 customers daily

Most Comprehensive Car Insurance

If you want the most comprehensive and generous car insurance plan, we found the insurers featured below to offer the best coverage for sedans. These insurers offer top-tier plans focusing on delivering excellent coverage with plenty of unique benefits and features.

Best All-Around Coverage: FWD Prestige Car Insurance

Consider this if you want to maximise coverage

Third Party Damage Coverage S$5,000,000
Workshop Type Authorised
Coverage for Loss/Damage to Vehicle 100% of Market Value

For affluent families who want top accident and belongings coverage, FWD's Prestige plan can deliver above average coverage for towing, disability, medical and personal accident coverage. It also offers a courtesy car for up to three months and S$2,000 of coverage covers for personal belongings and car accessories if your vehicle gets stolen. Additionally, once you receive a 50% NCD, you are guaranteed to keep it for as long as you stay with FWD, regardless of claims. Some smaller perks include $80 per occupant taxi coverage after an accident, payment for your children in the event of a catastrophic car accident, and legal costs coverage for damaged caused by your car. What makes this plan even better is its 20% cheaper-than-average premium for sedans and 15% cheaper-than-average premium for SUVs. Read our full review.

FWD PrestigeCoverageExtra CostExcess
Windscreen/Window CoverageUnlmtdN/AS$100
Personal Accident (Main Driver)S$75,000N/AN/A
Personal Accident (Named Drivers)S$25,000N/AN/A
MedicalS$5,000N/AN/A
TowingS$500N/AN/A
Personal BelongingsS$2,000N/AN/A
Car AccessoriesS$2,000N/AN/A
Young/Inexperienced DriverN/AN/AS$2,500
Promotion: 20% off with "BESTCAR" + S$150 CapitaVoucher

Best Car Insurance for Accident Protection: NTUC Income Drivo Premium

Consider this if you want personalized service for claims and accident reporting

Third Party Damage Coverage S$5,000,000
Workshop Type Any
Coverage for Loss/Damage to Vehicle 100% of Market Value

If you want maximum protection against accidents, NTUC's Premium car insurance plan offers great accident-focused coverage as well as some peace of mind services via its Orange Force service. Though NTUC costs more than the average top-tier plan for sedans and SUVs, its dedication to bringing peace of mind to drivers can make it well worth the cost.

With the Premium plan, you will get above average personal accident covers for drivers and passengers, coverage for natural disasters and theft and the choice of using any workshop. Additionally, you will have NTUC's Orange Force, a 24/7 accident response team, which will aid you during your accident and assist in finding alternative transportation, removing vehicles and ensuring your interests are well-protected. This can be a great option if you are new to driving in Singapore and would like additional assistance navigating Singapore's legal and insurance areas. Orange Force combined with no extra excess just for young/inexperienced drivers makes NTUC a great option for first-time car buyers who are between 18 and 27 or have less than two years driving experience. Read our full review.

NTUC Income PremiumCoverageExtra CostExcess
Windscreen/Window CoverageUnlmtdN/AS$100
Personal Accident (Main Driver)S$50,000N/AN/A
Personal Accident (Passenger)S$25,000N/AN/A
MedicalS$1,000N/AN/A
TowingS$500N/AN/A
Loss of UseS$50S$53.50N/A
Young/Inexperienced DriverN/AN/AS$2,500 (S$500 if +1 yr exp)
Promotion: "FP150" for S$150 FairPrice Voucher for cars 0-5 years old and minimum premium S$800

Highest Coverage for Families: Aviva Prestige

Consider this if you are looking for maximum coverage for your family

Third Party Damage Coverage S$5,000,000
Workshop Type Any
Coverage for Loss/Damage to Vehicle 100% of Market Value

Aviva Prestige is the best car insurance for families, especially those who have just bought a car and want maximum peace of mind benefits. Its prices are quite affordable—costing 10-15% below average for married drivers in addition to a young/inexperienced driver excess waiver. Benefits are also plentiful with a focus on repair and accident coverage including roadside rescue, towing, on-site accident reporting and medical coverage for you and your passengers. You and your family will also get a free ride home following an accident (provided towing is necessary). If you want even more coverage, you can add on loss of keys, loss of use and additional personal accident coverage. Lastly, Aviva rewards safe drivers with a 5% safe driver discount if your NCD is 50% or higher—-a great incentive to develop safe driving habits for cash-strapped families who can't afford to sacrifice coverage. Read our full review.

Aviva PrestigeCoverageExtra CostExcess
Windscreen/Window CoverageUnlimited @ authorised repairerN/AS$100
Personal Accident (Main Driver)S$20,000N/AN/A
Personal Accident (Passenger)S$20,000N/AN/A
MedicalS$1,000N/AN/A
TowingUnlimitedN/AN/A
Car AccessoriesS$500N/AN/A
Young/Inexperienced Driver (25 and under)N/AN/AS$2,500
Promotion: 15% off Annual Premiums; 15% off for MINDEF/MHA policyholders; S$150 CapitaVoucher for dual-year plans

Best Car Insurance for Experienced Drivers: HL Assurance Car Insurance

Consider this if if you are a safe driver and want generous coverage for major and minor issues

Third Party Damage Coverage S$5,000,000
Workshop Type Authorised
Coverage for Loss/Damage to Vehicle 100% of Market Value

If your focus is on maintaining your NCD (and being rewarded for it), HL Assurance's car insurance not only provides great all-around coverage but will also reward 50% NCD drivers with a 57% reduction on their premium—one of the highest NCD discounts on the market. Though it costs above average for non-NCD drivers, HL Assurance's premiums become quite competitive if you hold a 50% NCD. Additionally, if you end up in an accident that's not your fault and you make a damage claim, your NCD will not be affected as long as you can recover your claim from the other party. Last but not least, it is also worth noting that HL Assurance has quite generous coverage. You will be covered for damage caused by anything from riots to natural disasters, receive daily transportation allowance and have the option of authorising minor repairs, which is a very rare and valuable feature. Read our full review.

HL Assurance ComprehensiveCoverageExtra CostExcess
Windscreen/Window CoverageUnlmtdN/AS$100
Personal Accident (Main Driver)S$20,000N/AN/A
Personal Accident (Passenger)S$10,000N/AN/A
MedicalS$1,000N/AN/A
TowingS$500N/AN/A
Loss of UseS$50N/AN/A
Car AccessoriesS$1,000N/AN/A
Promotion: 25% off + Complimentary car servicing (drivers with 30%+ NCD)

Summary of Car Insurance Promotions

Car insurance get expensive, so it's always a welcome sight to see an insurer offering a great sale or discount on their premiums. Below, we have some of the top car insurance promotions available on the market, along with their promo codes (if necessary).

  • FWD: 20% off with "BESTCAR" + S$150 CapitaVoucher
  • Etiqa: 20% off + 5% off Fridays + 28% off for the first 5 customers daily
  • HL Assurance: 25% off + Complimentary car servicing (drivers with 30%+ NCD)
  • Budget Direct: Get S$100 if your current insurer offers cheaper premiums than Budget Direct upon renewal (even if you don't end up purchasing a Budget Direct policy)
  • NTUC Income: "FP150" for S$150 FairPrice Voucher for cars 0-5 years old and minimum premium S$800
  • Aviva: 15% off for MINDEF/MHA policyholders; S$150 CapitaVoucher for dual-year plans; 15% off for Premium plans

Methodology

To arrive at our decision for the best car insurance for the average driver, we collected data on car insurance costs and benefits for a 45-year old male (the average Singaporean age) driver from 12 insurers. To find the average pricing for the average sedan and SUV, we averaged the policy premiums for 4 most popular sedan models (Honda Civic, Mazda 3, Hyundai Elantra and Toyota Corolla Altis) and the 3 most popular SUV models (Nissan Qashwai, Honda HR-V and Toyota Harrier) on the Singapore market. SUVs are generally more expensive than sedans due to their propensity for being riskier vehicles and male and female drivers saw different premiums, with females seeing cheaper pricing across the board. Additionally, we took into consideration whether an employment pass holder and other foreigners could purchase the car insurance and whether or not their premiums would increase. Thus, the insurers mentioned above consistently won across all driver profiles as either being the cheapest or most comprehensive.

Anastassia Evlanova

Anastassia is a Junior Research Analyst at ValuePenguin Singapore, focusing on insurance. She graduated with Honors from Mohawk College with a postgraduate diploma in International Business Management, and also has a B.A. in Economics from New York University with prior experience working in the capital markets sector.

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