Best car insurance policies in Singapore for 2021

Which insurers offer the best car insurance plans most suitable for you? With a variety of product offerings available from a considerable number of different insurers, it can be difficult to choose a specific plan, especially if you don't want to dive into the nitty gritty details and wade your way through extensive policy details and fine print.

Here, we break down some of the best plans available for different drivers with different needs. 


Cheapest: Budget Direct comprehensive

For some drivers, especially for young Singaporean drivers with tight budgets, their consideration is very simple - cheapest is best. For such drivers, there is a simple and straightforward option - Budget Direct. Budget Direct has built its reputation on offering the cheapest car insurance in Singapore.

Understandably, a cheap premium will come with some compromises. In this case, the insurance coverage isn't the most comprehensive, with medical and personal accident coverage all optional add on costs.  


Generous, affordable coverage: FWD Classic

For drivers still looking for an affordable insurance plan but want more generous coverage, FWD's Classic plan offers coverage that features high personal accident, medical and car replacement benefits. FWD also offers roadside assistance for accident and non-accident reasons.

FWD also offers a lifetime No-Claims Discount (NCD) benefit when you reach 50% NCD. This lets you keep your NCD even when you file a claim. Also, FWD gives you the ability to add named drivers at no additional cost. Thus, this plan is suitable for drivers with slightly more years of experience. 



For Young Drivers: Aviva Lite

Are you a young and inexperienced driver buying a used car? You can consider Aviva Lite, a plan that is skewed towards these less experienced drivers. It has one of the lowest limits for young and inexperienced driver excess (25-years old compared to the usual 27-years old), and the NCD penalty of just 10% is definitely welcome for young drivers for whom the likelihood of an accident claim is higher.

The plan is also competitively priced and costs around 30% less than average for drivers aged 25 to 30. If you're a MINDEF/MHA customer, Aviva offers an additional 15% off on top of current promotions. (Use code "Car17" for 17% discount for all vehicles age up to 4-years old or "FUNMAY24" for a 24% discount for vehicles aged 5-years and above.


Accident-focused coverage: Income Drivo Premium

Worried about what to do when getting into a car accident? The accident-focused Income Drivo Premium policy might be suitable. It offers generous personal accident coverage for drivers and passengers, covers natural disaster and thefts, and allows you the choice of choosing your workshop.

You also get access to Income's Orange Force, a 24/7 accident response team that offers accident assistance anytime and anywhere in Singapore, including finding alternative transportation and removing vehicles. There is also the Accident Reporting mobile app that lets you quickly complete and submit accident reports. 


Comprehensive all-around coverage: FWD Prestige

For drivers looking for comprehensive coverage, the FWD Prestige policy delivers great value for your money. There may not be a lot of flexibility or customisation options available, but there are plenty of core features, offering ample coverage that includes medical, towing, personal belongings, and car accessories.

FWD also offers $80 taxi reimbursement after an accident, payment for your children in the event of a catastrophic car accident and legal costs coverage for your damage caused by your car. Also, you get the lifetime NCD benefit once you hit 50% NCD.

*This article was updated by James Chan on 3/5/2021

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