Cheapest Car Insurance 2017

Our team at ValuePenguin is committed to helping you optimise all of your personal finance decisions so that you know you're getting the most value out of your financial products, including car insurance. We analysed the car insurance market in Singapore, collecting real quotes from all the major companies to find the cheapest comprehensive policies currently available so that you can hit the road guilt-free.

Table of Contents

Cheapest Car Insurance Policies in Singapore for Sedans

According to our research, Aviva, FWD*, Budget Direct, and Sompo tended to offer the cheapest car insurance policies in the country for compact sedans like the popular Toyota Corolla Altis and Honda Civic. In general, these three insurers' car insurance policies were 17% cheaper than the industry average of S$1,529.35 at the time of our data collection. As a reminder, you should always remember that the actual premium you'll receive will depend on many different factors, as every quote is personalized to the customer.

This graph compares car insurance rates offered by nine of Singapore's major insurance providers for the average compact sedan. It demonstrates that Aviva, FWD, Budget Direct and Sompo lead the pack with the cheapest premiums on the market. Meanwhile, AXA, HL Assurance (Hong Leong) and AIG have among the priciest premiums among the companies we studied.
Comparing Car Insurance Premiums in Singapore for the Average Compact Sedan

Among these three car insurance policies, Budget Direct's plan is the most bare-bones of the three, given its minimalist design and cheap price tag. Aviva's plan gets you a lot of bang for your buck, since its plan includes better coverage for personal accident and medical expenses, as well as a few additional features such as coverage for accessories and child seats, an even cheaper dual-year plan, and a unique NCD policy that only reduces your NCD by 10% after you've filed a claim. Sompo's plan stands out as the only of the three that automatically includes a loss of use benefit that offers a daily allowance of S$100 for 10 days. Finally, FWD's plan is a great affordable option for people seeking to maximise peace of mind for themselves and their families, as it is the only insurer to extend a lifetime NCD guarantee to FWD policyholders with a 50% NCD and the only insurer with a "Guardian Angel" benefit to provide financial security for your children if you're killed or permanently disabled in a car accident.

Promotion

  • FWD: 20% off with code "Bestcar"
  • Etiqa: 5% off on Fridays
  • HL Assurance: Complimentary car servicing for new sign ups (estimated value of ~S$200)

To find the cost of car insurance for the average compact sedan in Singapore, we collected quotes for comprehensive plans for the Toyota Corolla Altis 1.6** and the Honda Civic 1.6 from nine major Singapore insurers. We used the sample profile of a 45-year-old single male driver with 5 years' driving experience and a 0% No Claims Discount (NCD). The quotes were calculated on the basis of a standard excess of S$800. In a few cases where a S$800 excess was not available, we picked the closest offering to compare.

Company PolicyCostExcessMedicalPersonal AccidentLoss of UseFlood
AvivaS$1,216.88S$750S$1,000S$20,000+S$75.00 for replacement car x 10 daysYes
FWD ClassicS$1,265.53S$800S$1,000S$30,000S$40/day x 6 daysNo
Budget DirectS$1,275.16S$800+S$21.40 for S$500 coverage+S$32.10 for S$20,000 coverage+S$53.50 for S$50/day x 10 daysYes
Sompo ExcelDrive FOCUSS$1,300.26S$500S$300+S$107.00 for S$20,000 coverageS$100/day x 10 daysYes
DirectAsia ValueS$1,428.58S$800+S$16.09 for S$500 coverage+S$53.65 for S$100,000 coverage+S$53.65 for S$50/day x 20 daysYes
Etiqa Private Car PlanS$1,433.57S$800S$200S$20,000S$50/day x 5 daysYes
NTUC Income Drivo ClassicS$1,544.77S$600S$1,000S$50,000S$50/day x 7 daysYes
AIG AutoPlanS$1,706.31S$600S$300S$20,000S$0Yes
AXA EssentialS$2,056.18S$800S$0+S$14.45 for S$50,000 coverage+S$83.00 for replacement car x 10 daysNo
HL Assurance Car Protect360S$2,066.29S$600***S$1,000S$20,000S$50/day x 10 daysYes
AverageS$1,529.35

Cheapest Car Insurance Policies in Singapore for SUVs

We analyzed the car insurance market to see how expensive car insurance premiums are for crossovers/small SUVs, which are increasingly widespread in Singapore. After collecting quotes for the Honda HR-V 1.5**** and Nissan Qashqai 2.0, two bestselling examples of the genre, we found that FWD, Sompo and Budget Direct tend to offer the cheapest premiums. These three companies' car insurance policies in aggregate were 13% cheaper than the industry average of S$1,605.03.

Promotion

  • FWD: 20% off with code "Bestcar"
  • Etiqa: 5% off on Fridays
  • HL Assurance: Complimentary car servicing for new sign ups (estimated value of ~S$200)

Among these three car insurance plans, FWD's plan was the cheapest, providing quite thorough peace of mind. It has higher coverage for medical and personal accident than other cheapest options while throwing in some extra perks like a 10-year workshop repair warranty, lifetime NCD guarantee and financial security for your children, benefits that are unrivalled in the market. Sompo's ExcelDrive FOCUS plan was also very affordable while delivering a fairly standard set of features plus the best loss of use benefit (allowance of S$100 a day for up to 10 days) and the lowest standard excess (S$500). As such, Sompo's plan is a great marriage of utility and affordability. Budget Direct's plan, which does not include personal accident benefits, coverage for medical expenses, or a loss of use benefit, nevertheless is a good insurer to check out if you're looking for the lowest prices.

This graph compares car insurance rates offered by nine of Singapore's major insurance providers for the average crossover/small SUV. It demonstrates that FWD, Sompo and Budget Direct lead the pack with the cheapest premiums on the market. Meanwhile, HL Assurance, NTUC Income and AXA have among the priciest premiums among the companies we studied.
Comparing Car Insurance Premiums in Singapore for the Average Crossover SUV

Cheapest Car Insurance Policies in Singapore for Luxury Cars

After collecting quotes for the Mercedes-Benz E Class and the BMW 5 Series from nine major Singapore insurers, we found that Sompo, Aviva and DirectAsia tend to offer the cheapest premiums for luxury sedans. These three companies' car insurance premium prices were roughly 21% cheaper than the industry average of S$2,040.35 for this kind of vehicle. It is also worth mentioning that depending on your car, AXA, whose car insurance plans can tend to be more expensive, may offer a very competitive price and potentially a lot of value.

This graph compares car insurance rates offered by nine of Singapore's major insurance providers for the average luxury sedan. It demonstrates that Sompo, Aviva and DirectAsia lead the pack with the cheapest premiums on the market. Meanwhile, NTUC Income, AXA and HL Assurance have among the priciest premiums among the companies we studied.
Comparing Car Insurance Premiums in Singapore for the Average Luxury Sedan

We think that of these choices, Sompo and Aviva offer you the best value. Sompo's plan automatically builds in much more coverage than DirectAsia's most bare-bones plan. Compared to Aviva, it would still cost a little less per year to insure your luxury sedan with Sompo even adding in the cost to add personal accident coverage. However, we do want to note that Aviva's plan comes with a few more perks than Sompo's, automatically including coverage for personal belongings, audio equipment and child seats. In addition, if you file an at-fault claim, Aviva will only reduce your NCD percentage by 10% upon renewal of your policy as opposed to the industry standard of a reduction of 30%. Which plan is best for you will depend on your preference for higher affordability or better coverage.

Also of note, AXA's Essential plan, which admittedly provides relatively minimal coverage compared to other basic car insurance plans, offers the third-cheapest premium on the market for the Mercedes-Benz E200 at S$1,694.08. But its higher-tier Peace of Mind plan, which provides very generous coverage and includes more features than typical basic car insurance plans, is only marginally more expensive than the Essential plan, costing S$1,742.99 for that car model. At this price, AXA's Peace plan is great value for your money, will give you better coverage than many of the other cheap options, and is still cheaper than more than half of insurance plans studied.

Cheapest Car Insurance for Experienced Drivers

People with more years of driving experience tend to be considered lower-risk drivers by many insurers. However, it can be hard to see what, if any, actual impact of more years of driving experience there may be on your premium, because if you have been driving for many years, you'll usually have earned a NCD that will significantly discount your quote further. To take a look at which insurers may actually reward you for more years on the road without taking NCD into account, we compared prices from 9 of Singapore's biggest insurers for a driver profile with 5 years of driving experience and 0% NCD and a driver profile with 10 years of driving experience and 0% NCD, both driving a 2016 Toyota Corolla Altis 1.6.

This graph compares the premiums quoted to a driver with 5 years of driving experience compared to the premiums quoted to a driver with 10 years of driving experience. It shows that Aviva, FWD and Budget Direct offer the cheapest prices, but Aviva, Etiqa, HL Assurance and AXA are the only insurers studied who actually decrease prices for more years of driving experience.
Comparing the price of car insurance for drivers with varying amounts of driving experience

Our analysis found that insurers quoted the driver with 10 years of driving experience prices that were an average of S$50 lower than the prices offered to the driver with 5 years of driving experience. In both cases, Aviva, FWD and Budget Direct led the pack with the cheapest premiums on the market. But of these three cheapest insurers, only Aviva lowered the premium to reward the driver with 10 years of experience, discounting the price by about 10%. Etiqa, HL Assurance, and AXA also seem to reward drivers with more years of driving experience, with Etiqa and HL Assurance discounting their premium by roughly 10% and AXA by roughly 3% in this scenario.

Promotion

  • FWD: 20% off with code "Bestcar"
  • Etiqa: 5% off on Fridays

Because there are so many factors that go into determining your premium, as well as which insurance company will offer you the best price, you should be aware that the aforementioned 3 insurers (Aviva, FWD and Budget Direct) may not end up being the cheapest, offer a featureset that meets your needs, or provide the best value for your money in your situation. However, it may be useful to keep in mind that based on our study, Aviva, Etiqa, HL Assurance, and AXA will actually give you lower premiums the more years you drive.

Company PolicyCost for Driver with 5 Years of Exp, 0% NCDCost for Driver with 10 Years of Exp, 0% NCDExcessMedicalPersonal AccidentLoss of UseFlood
AvivaS$1,079.73S$973.74S$750S$1,000S$20,000+S$75.00 for replacement car x 10 daysYes
FWD ClassicS$1,090.581,090.58S$800S$1,000S$30,000S$40/day x 6 daysNo
Budget DirectS$1,123.07S$1,123.07S$800+S$21.40 for S$500 coverage+S$32.10 for S$20,000 coverage+S$53.50 for S$50/day x 10 daysYes
Sompo ExcelDrive FOCUSS$1,236.06S$1,236.06S$500S$300+S$107.00 for S$20,000 coverageS$100/day x 10 daysYes
Etiqa Private Car PlanS$1,345.411,232.34S$800S$200S$20,000S$50/day x 5 daysYes
DirectAsia ValueS$1,335.061,335.06S$800+S$16.09 for S$500 coverage+S$53.65 for S$100,000 coverage+S$53.65 for S$50/day x 20 daysYes
NTUC Income Drivo ClassicS$1,408.141,408.14S$600S$1,000S$50,000S$50/day x 7 daysYes
HL Assurance Car Protect360S$1,684.99S$1,516.49S$600*S$1,000S$20,000S$50/day x 10 daysYes
AXA EssentialS$2,654.08S$2,567.80S$800S$0+S$14.45 for S$50,000 coverage+S$83.00 for replacement car x 10 daysNo
AverageS$1,447.25S$1,394.60

Cheapest Car Insurance for Safe Drivers

It's common knowledge that as you accumulate more years of driving without filing a claim with your insurance company, your insurer will offer you a progressively higher No Claims Discount, or NCD, as a percentage off your premium. Generally, you can earn a higher NCD up to a cap of 50%. But what isn't as widely known is that your NCD percentage does not translate directly into the equivalent percentage of discount on your premium. Instead, it is only one of several factors that insurers use to determine how big of a risk you pose. So how much can you save for being a safe driver? We decided to take a closer look at how different major Singapore insurers weigh your NCD by comparing premiums quoted to a male 45-year-old driver with 5 years of driving experience and a 2016 Toyota Corolla Altis 1.6 assuming a 0% NCD and a 50% NCD.

This graph compares the premiums quoted to a driver with a NCD of 0% compared to the premiums quoted to a driver with a NCD of 50%. Budget Direct, FWD and Aviva offer the cheapest prices.
Comparing the price of car insurance for drivers with 0% and 50% NCD

We found that different insurance companies do indeed assign different amounts of importance to your NCD. This can have a significant impact on which insurers may offer you the best price and the best value for your money. For example, our data showed that a driver with 5 years' experience and 0% NCD was quoted the cheapest premium by Aviva at S$1,079.73, followed by FWD at S$1,090.58 and then Budget Direct at S$1,123.07. But with 50% NCD, Budget Direct offered the cheapest premium at S$498.76, followed by FWD at S$578.01 and then Aviva at S$608.07. This is because Budget Direct rewarded the driver with 50% NCD by discounting his premium by 55.6%, while FWD discounted his premium by 47% and Aviva discounted his premium by just over 40%.

HL Assurance discounted the premium by the most. This is significant because HL Assurance, whose car insurance plan is very fully-featured but also quite inflexible, tends to be one of the more expensive insurers at lower NCD levels. However, at 50% NCD, its discount of 56.5% compared to the 0% NCD price, makes it a very good value pick for safe drivers, with a price below the industry average. HL Assurance's Car Protect360 plan is one to look out for because it will halve the standard excess you have to pay before they'll cover the cost of car repairs after you file a claim, as long as you use one of HL Assurance's authorised workshops. This plan also includes a loss of use stipend of S$50 a day for up to 10 days as well as personal accident and medical benefits for not only you as the policyholder, but also all your passengers and authorised drivers, which is very generous compared to other similarly priced plans.

This graph compares the total percent discount off car insurance premiums one would receive for having a 50% NCD. HL Assurance and Budget Direct both discount premiums by over 50%.
Some insurers assign greater weight to having a 50% NCD than others when calculating the total cost of your car insurance premium

Other Ways for Safe Drivers to Earn Savings

More and more insurance companies have begun to jump on the bandwagon of offering safe drivers (as well as low-mileage drivers) further opportunities to save on their car insurance premiums through the use of modern tracking technology. If you install a telematics device in your car that tracks your speed, mileage, and other aspects of driving behavior, NTUC, AIG, and Etiqa are three examples of insurers that will currently offer you greater discounts in addition to your NCD for proving that you're a safe driver. Though the upfront expense of installing such a device may cause some sticker shock, the long-term payoff could be worth it for the right driver. For more information, you can read our article on how telematics can save you money on car insurance. Also, DirectAsia pioneered a 60% NCD opportunity for drivers who have maintained their 50% NCD for 5 years. This is the only such offer of 60% NCD in the car insurance market so far, and would make DirectAsia's car insurance plan an even cheaper pick for qualifying customers.

Cheapest Car Insurance Policies for Young Drivers

Because car insurance companies consider young drivers aged in their 20s and early 30s to pose a relatively high risk of getting into a car accident, young drivers generally face significantly higher premium costs than older drivers do. Our team at ValuePenguin used the driver profiles of 25-year-old single male and female drivers with 5 years of driving experience and 0% NCD driving a 2016 Toyota Corolla Altis 1.6 to gain more insight into car insurance prices for young drivers.

This graph compares car insurance rates offered to young male and female drivers by nine of Singapore's major insurance providers. It demonstrates that Aviva leads the pack with the cheapest premiums on the market for both genders. Meanwhile, AXA, HL Assurance and Budget Direct have the priciest premiums among the companies we studied.
Comparing Car Insurance Premiums for Young Drivers

We found that the cheapest insurance companies for both male and female younger drivers in their 20's tends to be Aviva, which offered prices that were a minimum of S$300 cheaper than the next-cheapest options and over 30% cheaper than the industry average (S$2,428 for men and S$2,183 for women). Young women benefit considerably from being considered to pose a lower risk of accident than young men, hence the tendency for them to be charged lower premiums.

Young and/or Inexperienced Driver Excess

The upfront cost of your premium is not the only way you might find yourself paying more as a younger driver. Drivers in their 20s or who have under 2 years of driving experience also need to consider that most insurers also have a policy called the "Young and/or Inexperienced Driver Excess," or YIDR. This clause imposes an additional excess payment on young and inexperienced drivers than what is normally required before the insurance company must pay out its benefits. For example, if your YIDR is S$2,500, and your standard excess is S$600, then whenever you file a claim, you have to pay S$3,100 before your insurance company will pay for anything. One good strategy when shopping for car insurance as a young driver is to try to find an insurer that offers the best odds of paying no YIDR at all. The savings of a few hundred dollars you might get by opting for the lowest premium would be more than cancelled out if you got into a car accident and found yourself having to pay several thousands of dollars out of pocket unnecessarily.

Aviva's YIDR excess is S$2,500 for drivers aged 24 and below, which although on the higher end in terms of cost, will not apply to many drivers in their 20s due to the relatively low age standard. Sompo is another relatively affordable option without a draconian YIDR policy that may be worth a look as well, as its additional excess only applies to drivers under the age of 23. Some of the next-cheapest insurers, however, feature objectively less forgiving YIDR policies: Etiqa and FWD both extend their additional YIDR excess to drivers under the age of 27. Meanwhile, DirectAsia and NTUC Income stand out as the only plans to not charge any additional excess to young drivers as long as they are named on the policies. While their premium prices may tend to run closer to the middle of the pack, the potential savings if you get into a car accident as a young driver are huge - particularly if you would be eligible to pay the YIDR with insurers like Aviva and Sompo.

Company PolicyAnnual PremiumYoung and/or Inexperienced Driver Excess
AvivaS$1,681.17S$2,500 for drivers aged 24 and below
FWD ClassicS$2,068.27S$2,500 for drivers under the age of 27
Sompo ExcelDrive FOCUSS$2,128.87S$1,500 for drivers under the age of 23 years old if designated as a named driver. If not named, S$3,000
Etiqa Private Car PolicyS$2,177.49S$2,000 for drivers under the age of 27

NTUC Income Drivo ClassicS$2,205.48S$0 if designated as a named driver; if not named, S$2,500 if unnamed driver is under the age of 27
DirectAsia ValueS$2,289.95S$0 if designated as a named driver; if not named, not covered by the plan
Budget DirectS$2,324.71S$500 for drivers below 25 years old if designated as a named driver. If not named, S$1,500. Additionally, S$500 for drivers with less than 2 years' possessing a valid driver' license if designated as a named driver. If not named, S$1,500.
HL Assurance Car Protect360S$2,429.94S$3,000 for drivers under the age of 27
AXA EssentialS$4,405.82S$500 for drivers under the age of 27 if designated as a named driver. If not named, S$2,500 if below 27 at AXA Premium Workshops; S$5,000 if below 27 for non AXA premium workshops
Average PremiumS$2,427.77

Cheapest Third Party Car Insurance for Used Cars

Though third party car insurance plans offer less protection and coverage in the case of an accident, they tend to be much cheaper than comprehensive plans. As such, third party plans can be a more sensible financial decision for owners particularly of older used vehicles whose value may have depreciated significantly. Furthermore, car owners whose cars are older than 10 years may have no choice but to purchase a third party plan, as some insurers won't extend comprehensive coverage to older cars. If you're looking for a third party car insurance policy that offers the best value for your needs and preferences, it can be difficult to find helpful, well-researched information to help guide your decision. To that end, we analysed the car insurance market in Singapore, collecting quotes from top insurers, to find the cheapest Third Party Only (TPO) and Third Party, Fire and Theft (TPFT) plans out there.

Cheapest TPO Car Insurance

According to our research, TPO car insurance premiums cost an average of about S$927 in Singapore. Budget Direct offered the cheapest premium for our profile of a 2006 Toyota Corolla Altis, its premium price of S$641.71 running about S$150 cheaper than the insurer with the next-cheapest TPO price, FWD (S$799.82).

This graph compares car insurance rates offered by six leading providers for Third Party Only (TPO) policies. Budget Direct has the cheapest premium, followed by FWD.
Comparing the cost of Third Party Only (TPO) car insurance policies in Singapore

In terms of value, there is less variation in what TPO from different insurers cover, as third party plans in general cover the legal minimum to drive and no more (third party liability). What this means for you as a consumer is it's actually much easier to figure out how much value for your money you can get from one of these plans. As a result, for the driver profile we tested, Budget Direct is clearly a top contender in terms of having good bang for your buck.

However, your individual details, such as the car model you drive, your age, your car's age, etc. may alter which insurers offer you the best deal on a TPO car insurance plan. We found, for example, that while some insurers charge higher premiums for aging cars, others, such as AXA, may actually significantly decrease their prices the older your car gets. On the other hand, if you're in the market for a TPO plan for a younger car (under the age of 10), Etiqa may offer a more competitive rate than AXA.

Cheapest TPFT Car Insurance

Our study found that TPFT car insurance premiums cost an average of about S$1,064 in Singapore. According to our research, Budget Direct offers the cheapest premium for a 2006 Toyota Corolla Altis, its premium price of S$751.97 running about S$150 cheaper than the next closest competitor, FWD at S$911.89.

This graph compares car insurance rates offered by six leading providers for Third Party, Fire and Theft (TPFT) policies. Budget Direct has the cheapest premium, followed by FWD.
Comparing the cost of Third Party, Fire and Theft (TPFT) car insurance policies in Singapore

While in our sample DirectAsia, Sompo, AXA and Etiqa all offered premiums costing above the industry average, you may find one of these insurers is a good choice for you. The most important takeaway, in our opinion, is how important it is to thoroughly survey the market to see what prices you're offered by each insurance company.

It is also worth keeping in mind that in some cases, buying a TPFT plan may not even save you much more money than if you bought a cheap comprehensive plan. Aviva, for example, does not sell third party car insurance plans - but its comprehensive plans, which our research has found tends to be among the most affordable on the market, may be worth comparing to the TPFT plans you're looking at.

Methodology

In the course of our research, we collected quotes using all sorts of different driver profiles, testing to see how prices would change if you were male or female, youthful or elderly, a novice driver or a more experienced one, etc. For our research, we collected quotes from 10 leading car insurance providers in Singapore: AIG, AXA, Aviva, HL Assurance, NTUC Income, FWD, DirectAsia, Etiqa, Budget Direct and Sompo. These companies were chosen based on their popularity with consumers in Singapore as well as the ease of acquiring quotes and detailed information about their plans.

In order to standardize our results, for the bulk of this study, we assumed standard comprehensive coverage, since comprehensive coverage is compulsory for owners driving cars less than 10 years old that are still under financing. Due to the costliness of cars in Singapore, this makes it the most common type of insurance plan bought. We sought to find the cheapest available quote from each company, picking "value" plans if available and adding no optional additional features. Where applicable, we indicated approximately how much more one would typically have to pay to include a specific feature in our tables.

The driver profile we used to get car insurance quotes held constant all variables other than what we were testing for. In general, these quotes are based on the driver profile of a 45-year-old unmarried male driver of a 2016 Toyota Corolla Altis 1.6, a first-time car owner with 5 years of driving experience, no claims filed, and 0% NCD (No Claims Discount). He/she works indoors as a professional.

Details/Exceptions:

  • The quotes reflected for the average sedan reflect the mean of prices collected for the Toyota Corolla Altis 1.6 and the Honda Civic 1.6. These models were chosen for their popularity.
  • The quotes reflected for the average crossover/SUV reflect the mean of prices collected for the Honda HR-V 1.5 and the Nissan Qashqai 2.0. These models were chosen for their popularity.
  • The quotes reflected for the average luxury sedan reflect the mean of prices collected for the Mercedes-Benz E200 and the BMW 530i. These models were chosen for their popularity.
  • The age for the "young driver" profile is 25. A female profile was used in addition to a male profile.
  • The "experienced driver" profile is based on 10 years' driving experience or 10 years holding a valid license, depending on what information was requested by the insurer.
  • The "safe driver" profile is based on a driver with 50% NCD.
  • The car model year/registration year for the third party profiles (TPFT and TPO) was 2006, selected as most buyers of third party car insurance tend to be insuring an older vehicle.

*Premium prices shown include current promotions that apply a major discount. Notable examples are FWD, with its 20% off discount that applies when you enter the "Bestcar" promotion code, and Etiqa's recurring "Thank Etiqa Is Friday" 5% discount when you buy Etiqa car insurance on a Friday.

**In the course of our research to find the average cost of car insurance for a typical sedan in Singapore, we noticed that while most insurers did not quote the Toyota Corolla Altis 1.6 and Honda Civic 1.6 at drastically different prices (tending to differ by a maximum of about S$300 for these two models), AXA in particular seems to charge much higher prices for the Corolla Altis than the Civic. As the Toyota Corolla Altis remains one of the most popular cars in Singapore, we felt this was worth calling attention to. In our study, AXA quoted the Toyota Corolla Altis 1.6 at S$2,654.08 and the Honda Civic 1.6 at S$1,458.28. The premium quoted to the Civic is a highly competitive price compared to other insurers. In such a scenario, AXA would be a good value pick, particularly with its generous Peace of Mind plan.

***HL Assurance's policy discounts the standard excess on your policy by 50% as long as you get your car repaired at one of HL Assurance's authorised workshops. For example, if your excess would normally by S$750, it will be S$375 at HL Assurance's authorised workshops.

****We used the Honda HR-V 1.6 for HL Assurance's quote, as the 1.5 was not available to select.

*****The estimates here are ValuePenguin's alone, and have not been reviewed, approved or otherwise endorsed by the insurance providers.

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