HL Assurance's Car Protect360 insurance plan is a fairly feature-rich comprehensive policy that we think is the best fit for drivers with a few more years of driving experience under his or her belt. It has some stand-out strengths that are tempered by notable weaknesses. Overall, HL Assurance's car insurance plan is somewhat less versatile than other options, but can be a great value pick for the right customer. Read on to see if HL Assurance's Car Protect360 Plan is the right fit for you.
What Makes HL Assurance's Car Protect360 Plan Stand Out?
HL Assurance's Car Protect360 car insurance plan offers both depth and breadth in its features and benefits, including relatively high levels of coverage not only for losses and damages, personal accident benefits and medical expenses, but also for towing expenses, 24-hour emergency medical and roadside assistance, and vehicle accessories. Its medical and personal accident coverage extends not only to the driver of the vehicle but also to any passengers. It also covers flood damage, an important consideration in tropical Singapore, and even gives you authority to repair minor damages for up to S$300 after application of the standard excess.
HL Assurance's car insurance plan distinguishes itself from the competition by offering a generous loss of use benefit (daily travel stipend of S$50 for up to 10 days) and a unique incentive policy where it will halve the standard excess if you use one of HL Assurance's Approved Workshops after an accident. For most drivers, this would drop the typical S$750 standard excess down to a market-leading S$375, which compares favorably to the S$600 to S$800 of standard excess we see from many other insurers in the market. HL Assurance also waives the S$100 windscreen excess if you use one of their Appointed Windscreen Repairers, which further sets it apart from other insurers' plans.
HL Assurance could be a particularly good choice for safe drivers with plenty of driving experience. Our study of the best and cheapest car insurance plans in Singapore found that HL Assurance gives the highest rewards to drivers with a 50% NCD of any car insurance provider on the market, discounting their premium by 56.5%. At this level of discount, HL Assurance's car insurance plan becomes a very high-value option among similarly-priced alternatives given its high, seamless coverage. This combination of affordability and coverage makes it a win-win choice for the seasoned driver.
Drawbacks to Choosing HL Assurance's Car Protect360 Plan
However, HL Assurance has a number of drawbacks that can make it a less intuitive pick if you don't fit that driver profile. It tends to be less affordable for younger drivers in their 20s, imposing a relatively high Young Driver Excess of S$3,000 in addition to the standard excess for drivers under the age of 27. In addition, we found that its premiums are not very competitive if you don't have as many years of driving experience under your belt.
HL Assurance's car insurance plan also lacks a variety of customization options to tailor its policy to your unique set of needs both within its comprehensive insurance policy and in the fact that it does not offer the ability to purchase a TPO or TPFT policy online. Finally, if you have a strong preference for the ability to choose your own workshop for repairs after a car accident, we found that HL Assurance charges a relatively high amount (+S$450, over S$100 more than the industry average) to add that feature.
Features and Benefits Included in HL Assurance's Car Protect360 Plan
|Flood damage coverage?||Yes|
|24 hr roadside assistance||Yes|
|Repair/replace vehicle after accident?||Yes|
|Can you choose your own workshop?||For an extra ~18% on your premium|
|Authority to repair (for minor repairs)||Up to S$300 after application of policy excess|
|Medical expenses||S$1,000 each for Policyholder, Authorised Driver and Passengers up to car legal seating capacity|
|Towing costs||Up to S$500|
|Car accessories||Up to S$1,000|
|Unlimited coverage for third party death or injury||Yes|
|Coverage for third party property damage||Up to S$5,000,000|
|Daily transport allowance while car is repaired (loss of use)||S$50 for up to 10 days|
|Courtesy car if car is written off or stolen||No|
|Personal accident benefit for Policyholder||Up to S$20,000|
|Personal accident benefit for Authorised Driver||Up to S$10,000|
|Personal accident benefit for Passengers||Up to S$10,000|
How Does HL Assurance's Car Protect360 Plan Compare Against Other Insurers' Plans?
We collected quotes from nine major Singapore insurers to see how HL Assurance's prices compare with the competition using the driver profiles of a 45-year-old single male with 5 years' driving experience and a 0% and 50% NCD driving a 2016 Toyota Corolla Altis 1.6.