Car Insurance

Cheapest Car Insurance 2018

Buying car insurance is a lengthy, complex and an expensive undertaking. After analyzing over 800 price points from 12 car insurers in Singapore, we have determined the best car insurance plans for drivers of average priced sedans.

Table of Contents

Best Cheap Car Insurance for Sedans

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 car insurance plans. While some prioritize keeping their premiums as low as possible by providing basic coverage, others balance affordable prices with comprehensive benefits.

Cheapest Car Insurance: Budget Direct Comprehensive

Consider this if you want the lowest cost car insurance possible

Third Party Damage Coverage S$500,000
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 drivers looking to pay as little as possible and require only basic protection. As the cheapest insurer, it costs 20% less than the average basic comprehensive plan for non-NCD holders and 40% less for those with a 50% NCD discount. There is also a 14 day cooling-off period for you to test the policy before purchasing it— a great option for customers who are very careful with spending and want to test things out before committing. Additionally, it has the lowest young/inexperienced driver excess with only S$500 for drivers younger than 25, making it a great option for parents who want to insure the younger drivers in the family.

Budget Direct provides two options for designating who will be insured: the Named Driver plan and the Authorised Driver plan. The Named Driver plan is cheaper but only 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. On the downside, Budget Direct's car insurance's medical, personal accident and roadside support coverage come at an extra cost. 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

Best Value Car Insurance: FWD Classic

Consider this if you want to keep your entire family protected with well-rounded coverage

Third Party Damage Coverage S$500,000
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 the average for both men and women regardless of their NCD discount. It has high personal accident, medical and car replacement coverage, lump payments for surviving children and adjustable excess options for young drivers. A notable perk FWD offers is its Lifetime NCD benefit when you reach a 50% NCD discount, 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% discount with code FWDVALUE

Cheapest Dual-Year Car Insurance: Aviva Comprehensive

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

Third Party Damage Coverage S$500,000
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 Comprehensive plan can be a great option. It costs around 25% less than average for men and women regardless of NCD discount and if you opt for their 2 year plan, you'll end up saving an additional 5% per year. It is also the cheapest plan on the market for young drivers, though it has a relatively high young driver excess of S$2,500. For those looking to save on additional drivers, Aviva lets you insure an unlimited number of drivers either older than 25 or 30 for an additional S$100.

Some of Aviva's notable benefits sure to impress drivers of accessory-heavy cars include coverage for child seats, car accessories (i.e. satellite navigation, radar detection) and ID theft. 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 ComprehensiveCoverageExtra CostExcess
Windscreen/Window CoverageUnlimited (with Aviva authorised repairer)N/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 DriverN/AN/AS$2,500

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$500,000
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. 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 Excess (waived at appointed workshop)
Personal Accident (Main Driver)S$20,000N/AN/A
Personal Accident (Passenger)S$10,000N/AN/A
MedicalS$300N/AN/A
TowingN/AN/AN/A
AccessoriesN/AN/AN/A
Young/Inexperienced DriverN/AN/AS$1,500

Most Comprehensive Insurance for Sedans

If you want the most comprehensive and generous policies, we found the policies 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$500,000
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 compared to its peers. Read our full review.

FWD PrestigeCoverageExtra CostExcess
Windscreen/Window CoverageUnlmtdN/AS$100
Personal Accident (Main Driver)S$75,000N/AN/A
Personal Accident (Passenger)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% discount with code FWDVALUE

Best Car Insurance for Accident Protection: NTUC Income Premium

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

Third Party Damage Coverage S$500,000
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, 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. 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 young driver has more than 1 year exp)

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$500,000
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.

NTUC Income PremiumCoverageExtra 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 + Free car servicing

Methodology

To arrive at our decision for the best car insurance for the average driver, we collected data on car insurance's 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, we averaged the policy premiums for 4 most popular car makes on the Singapore market: the Honda Civic, Mazda 3, Hyundai Elantra and Toyota Corolla Altis. While male and female drivers had different premiums, with females seeing cheaper pricing across the board, the insurers mentioned above consistently won across all driver profiles as either being the cheapest or most comprehensive.

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