Etiqa Private Car Insurance: Is It the Right Plan for You?

Etiqa's Private Car comprehensive insurance plan combines baseline, vanilla coverage with generally competitive premiums to create an unassuming package.

Editor's Rating

3.5

Good for

  • People who want the ability to adjust their standard excess as they please: Flexible standard excess from S$200 to S$2,500
  • People who want coverage for sun/moon roof and solar film
  • Female drivers seeking a cheap plan

Bad for

  • Drivers seeking cheap TPO and TPFT plans
  • Drivers seeking great coverage for medical expenses
  • Driver seeking extensive customization options

Etiqa Private Car Insurance: Is It the Right Plan for You?

Etiqa's Private Car comprehensive insurance plan combines baseline, vanilla coverage with generally competitive premiums to create an unassuming package.

Good for

  • People who want the ability to adjust their standard excess as they please: Flexible standard excess from S$200 to S$2,500
  • People who want coverage for sun/moon roof and solar film
  • Female drivers seeking a cheap plan

Bad for

  • Drivers seeking cheap TPO and TPFT plans
  • Drivers seeking great coverage for medical expenses
  • Driver seeking extensive customization options

Editor's Rating

3.5

Etiqa Private Car Insurance: Is It the Right Plan for You?

Editor's Rating

3.5

Good for

  • People who want the ability to adjust their standard excess as they please: Flexible standard excess from S$200 to S$2,500
  • People who want coverage for sun/moon roof and solar film
  • Female drivers seeking a cheap plan

Bad for

  • Drivers seeking cheap TPO and TPFT plans
  • Drivers seeking great coverage for medical expenses
  • Driver seeking extensive customization options
Insurance

Etiqa's Private Car insurance plan offers an average level of coverage that covers all the bases that an average Singapore consumer would need at generally competitive prices. While Etiqa's relatively no-frills car insurance plan may not offer the bells and whistles available at big insurers like AIG or AXA, we think it can be a decent budget option that maintains its affordability without skimping on the essentials and allows some customization. Depending on your car and driver profile, you may even find that Etiqa is one of your cheapest options.

ProsCons
  • Competitive premiums for comprehensive plans
  • TPO and TPFT plans tend to be expensive
  • Flexible standard excess from S$200 to S$2,500
  • Low coverage for medical expenses
  • Optional cover for sun/moon roof and solar film
  • Lacks many value-added features or the option to add them
  • Cheap especially for women and young drivers
  • Discounts your premium less for having a high NCD than many other insurers

What Makes Etiqa's Private Car Insurance Plan Stand Out?

Etiqa's Private Car comprehensive insurance plan combines baseline, vanilla coverage with generally competitive premiums to create an unassuming package that, depending on your circumstances, could be one of the cheaper options on the market. The plan includes average coverage of personal accident benefits, medical expenses, towing costs and loss of use.

In terms of its features, it distinguishes itself from competitors in two major ways: allowing you the freedom to adjust your standard excess within the range of S$200 to S$2,500 to increase or decrease your premium, and offering optional, adjustable covers for expensive car accoutrements like your sun/moon roof and solar film (for an added fee).

Aside from these features, Etiqa's major appeal is its pricing. Etiqa often runs major promotions on its insurance products, for instance offering an additional 5% off its car insurance plan every Friday in its "Thank Etiqa It's Friday" (TEIF) sale. Depending on your driver profile and the vehicle you are insuring, Etiqa's car insurance plan may be one of the cheapest plans available to you, especially if you take advantage of these discounts when they are available.

Our study of the best and cheapest car insurance plans in Singapore found that Etiqa is also one of the cheapest car insurance policies for young drivers in their 20s, especially for young women. Not only that, Etiqa imposes a relatively low additional Young and/or Inexperienced Driver Excess of S$2,000 on "young drivers" (drivers under the age of 27), which is less than many of its competitors who impose an excess ofS$2,500 to S$3,000. In general, for the careful shopper, and especially for younger drivers still in their 20s, Etiqa could be a great budget pick.

Drawbacks of Etiqa Private Car Insurance

Where Etiqa falls short is in customization and value-added features. Unlike many other insurers, its plan does not include 24-hour roadside assistance. Its coverage of medical expenses and towing also falls behind what is offered by competing plans, even those at similar price points. In contrast to several other insurers' comprehensive plans, its personal accident benefits and medical expenses coverage only cover you, the policyholder, and does not extend to any passengers you may have in your car.

Finally, aside from the optional cover for sun/moon roof and solar film, the option to pay to use your own workshop, and the option to buy an NCD Protector feature, Etiqa does not offer the option to purchase other value-added features that could offer greater peace of mind for the willing customer. If you're looking for just the essentials, Etiqa's relatively no-frills plan will certainly give you that. But drivers hoping for a more thorough and individually tailored car insurance plan may not find what they're looking for with Etiqa.

Another point worth mentioning is that while Etiqa's comprehensive car insurance plan tends to be priced around the industry average if not a little cheaper, our study of third party car insurance plans found that Etiqa tends to offer less competitive prices for its TPO and TPFT plans. This is particularly the case for cars aged 8 years and up (aka the likely majority of cars insured under these third party policies).

Features and Benefits Included in Etiqa's Private Car Insurance Plan

FeaturesCoverage
Flood damage coverage?Yes
24 hr roadside assistanceNo
Repair/replace vehicle after accident?Yes
Can you choose your own workshop?Pay an extra ~18% on your premium
Sun/moon roof coveragePay extra S$85.60
Solar film coveragePay extra S$21.40
NCD Protector featurePay an extra ~10% on your premium
Medical expensesUp to S$200
Towing costsUp to S$200
Car accessoriesNo
Unlimited coverage for third party death or injuryYes
Coverage for third party property damageUnlimited
Daily transport allowance while car is repaired (loss of use)S$50 for up to 5 days
Courtesy car if car is written off or stolenNo
Personal accident benefit for PolicyholderUp to S$20,000
Personal accident benefit for Authorised DriverNo
Personal accident benefit for PassengersNo

How Does Etiqa's Private Car Insurance Plan Compare Against Other Insurers' Plans?

We collected quotes from 9 major Singapore insurers to see how Etiqa's prices compare with the competition, using the driver profiles of a 25-year-old single man and woman with 0% NCD driving a 2016 Honda HR-V 1.5. In this example, Etiqa offers the second-cheapest premium among insurers surveyed for the female driver and the third-cheapest premium for the male driver, though you should keep in mind that each person's experience will differ depending on the specifics of their driver profile and vehicle.

This graph compares car insurance rates offered by eight of Singapore's major insurance providers. It demonstrates that Aviva, Etiqa, FWD and Sompo lead the pack with the cheapest premiums on the market. Meanwhile, HL Assurance (Hong Leong) and AXA have among the priciest premiums among the companies we studied.
Comparing Car Insurance Premiums in Singapore

Comments and Questions