Car Insurance

companies offer three main types of motor insurance policies;

• Comprehensive car insurance covers repair or replacement of your vehicle if it is damaged or lost as a result of theft, accident, vandalism or weather-related damage. It also covers accidental loss or damage to your car, its spare parts and accessories, and liability of claims from third parties for damage to property and people. Comprehensive coverage differs significantly from one insurer to another. You must purchase this policy if your car is financed. We recommend you also buy this type of car insurance if you don’t have enough savings to replace the car, or are economically dependent on it.
• Third-Party, Fire and Theft Cover car insurance covers injury and damage caused by your vehicle to another party’s vehicle or property, it also covers your vehicle if it is stolen or damaged by fire. To purchase this policy, you must not have any loan financing your car. You should also make sure you have enough savings to replace the car, especially if you are economically dependent on it. For newer cars it is better to get comprehensive car insurance.
• Third Party Cover car insurance covers liability claims from third parties for injury and damage to their vehicle or property caused by your vehicle. To purchase this policy, you must not have any loan financing your car. You should also make sure you have enough savings to replace the car, especially if you are economically dependent on it. For newer cars, it is better to get comprehensive car insurance.

In Singapore, there are two types of motor insurance scheme. Authorised Workshop or Any Workshop. An authorised workshop is one that has an arrangement with the insurance company and hence the scheme has a lower premium because the insurer has control of the repair cost.

A reason for people to choose the “any workshop” scheme is because they have a certain car make which can only be fixed in designated workshops.

If you have not made any claims for a year or more, you are entitled to a No-Claim Discount (NCD). The NCD reduces the policy premium for the following year. This is for the car insurance company to recognize you for being a careful driver. The following table shows how the NCD is set by all insurers across the industry.

NCD (No Claim Discount )

In principle, your car insurance NCD applies to you and not to your vehicle. For example, if you sell your vehicle and buy another one, you will retain your NCD. However, if you own more than one vehicle, you might have a different NCD for each vehicle. You should check the details with your insurer, but generally, your NCD can be transferred to another vehicle owned by you, but it can’t be applied to more than one vehicle at any point in time. Your NCD cannot be transferred to another person.

Barometer of Liability Agreement (BOLA)

Not necessarily. All car insurance companies in Singapore use a guide called the Barometer of Liability Agreement (BOLA) to determine how much each party is liable in an accident. The BOLA is designed to speed up claims processing. It does not diminish your right to contest liability under the law. Under the BOLA, your NCD will not be affected if your liability is 20% or less in an accident involving an identified vehicle. In all other cases, your NCD may be affected.

Some car insurance companies may allow you to buy protection against the loss of the discount. By paying a small amount of extra premium (add-on), you can make one claim during the year, and still have the discount fully protected.

Motor insurance premiums change constantly and insurers will compete for different profiles of drivers in order to balance their risk portfolio. Therefore, your current insurer might not be able to give you the best premium. Insurance Market helps you to save money or get better terms on your motor insurance through comparing quotes instantly.

Compare car insurance

Don’t only check the price, but also coverage. To help you we provide our coverage rating so you can check value for money easily for each Car Insurance Policy. Select the 3 policies and compare their different features like the amount of excess, coverage, extra benefits, etc. Some insurers allow you to add additional named drivers at no extra cost. Check out for excess for unnamed drivers and whether you can use any workshop or an only insurer authorized workshop. Also, check out which insurer can process the claim online which is much faster. Both MSIG and Sompo do online claims for Car.

1 to 1.5 months in advance will be good, so that you have ample time to renew your Road Tax and get your car inspected and passed, if you need to.

The benefits of MSIG Motor Max Plan are 

Car Loan Protection
MotorMax Plus offers $100,000 worth of car loan benefits to cover any outstanding car loan if the policyholder dies in a car accident.

New for Old Replacement
If your car becomes irreparable after an accident, we will replace it with a brand new one as long as your original car is less than 12 months old.

Transport Allowance
Receive a transport allowance if your car repair takes longer than expected.

Learn about different  MSIG Car Insurance Plans

Read more about MSIG Car Insurance

You will be paying to Insurance Market Pte Ltd. Insurance Market is a licensed by the Monetary Authority of Singapore to collect premiums on behalf of insurance companies.

We sell 2  MSIG car insurance plans  MotorMax and MotorMax Plus. In MotorMax Plus you can choose any workshop of your choice while in MotorMax you can only choice MSIG authorized workshops.

Get a car insurance quote online

Just answer a few basic questions about yourself and your car & get car insurance quotes online. If you have a little patience we can get you even more quotes just leave your name and number and we will reply with more quotes within a working day. Currently, we provide online quotes from MSIG, Sompo, Etiqa, Liberty and Hong Leong. 

The key benefits of AIG car insurance are 

1. Brand new replacement car: With AutoPlan and AutoPlus, we will pay for a new car of the same make and model if yours is damaged beyond repair within three years of purchase.

2. Policy lifetime repair guarantee: This is offered on workmanship and paintwork for your own damage accident repairs carried out by any of our authorised workshops and manufacturer authorised repairers. 

3. Excess waiver for the in-car camera: Prevent fraud and lower your excess payments by up to S$1,000 when you share your in-car camera's accident footage with us.

4. Courtesy car for as long as you need it: We will deliver a courtesy car to you for use while yours is being repaired. Included in AutoPlus and optional for other plans.

5. Free 24/7 roadside assistance: With AutoPlus, get free towing if your car breaks down, and roadside assistance to fix minor problems, such as a flat tyre, anywhere in Singapore.

The key features of Sompo Car Insurance are 

• Free No Claim Discount (NCD) Protector if you are enjoying 30% NCD and above.
• 5% Offence Free Discount (OFD) will be granted automatically if NCD is 30% and above
• Loss of Use Benefits of S$100 per day up to 10 days (selected plans)
• Free Personal Accident Cover up to S$20,000 for Policyholder and S$10,000 for named drivers.
• Free cover for the legal liability of passengers.
• 24-hour Emergency Mobile Accident Response Service (MARS).
• Enjoy Loyalty Discount on Renewal.
• Enjoy Discount on multiple cars if you have existing Motor insurance with us.
• Credit card installment applicable for selected Bank.

    Learn about different Sompo Car Insurance  plans

    Read more about Sompo Car Insurance 

The Etiqa Car Insurance features include:

1. No restrictions on the use of motor workshops.
2. Personal Accident cover of up to S$50,000 for the insured.
3. Medical expenses of up to S$1,000.
4. Towing service of up to S$200.
5. Free Windscreen Cover (with an excess of S$100 for any workshop or complimentary for authorized workshops. Applicable to Comprehensive Cover only). Once a windscreen claim is made, this benefit will terminate unless it is reinstated with an additional premium.
6. Flood and/or other convulsions of nature and Strike, Riot & Civil Commotion (applicable to Comprehensive Cover only).
7. Passenger Risks.
8. Legal Liability of Passengers for Acts of Negligence.
9. Third-Party Liability including bodily injury and property damage.
10. Legal Service of S$2,000.
11. 5% Demerit Free Discount is allowed provided a Certificate of Merit from the Traffic Police is produced and with nil claim for the past 3 years. Optional Coverage with nominal premium: No Claims Discount (NCD) Protector.
12. Please note that if you’re entitled to 50% NCD upon renewing your policy with us, and should you decide to switch to an alternative insurer, the NCD Protector is not transferable.
13. In addition, upon renewing your motor policy, we reserve the right to revise our terms and conditions based on your claims history. 

  Read more about Etiqa Car Insurance 

 Learn more about Different Etiqa Car Insurance Plans.

The key features of HL Car Insurance are

1. Enjoy Freedom of Choice: No Workshop Restriction HL Assurance Motor policy gives you the freedom to choose your preferred workshop in Singapore. However, if you choose to use our HL Assurance Approved Workshop for repairs, you can be assured that genuine manufacturers’ parts will be used and it comes with a full 9-month repair warranty. Own Damage Excess will be halved if you choose to repair your vehicle at any of our HL Assurance Approved Workshops.

2. Superior Benefits for You

• Windscreen Cover Your windscreen claims will not affect your NCD.
• Enhanced Medical Protection Up to $1,000 coverage for the medical expenses for each of the policyholder, authorized driver and passengers up to the legal seating capacity.

Enjoy Freedom of Choice: No Workshop Restriction HL Assurance Motor policy gives you the freedom to choose your preferred workshop in Singapore. However, if you choose to use our HL Assurance Approved Workshop for repairs, you can be assured that genuine manufacturers’ parts will be used and it comes with a full 9-month repair warranty. Own Damage Excess will be halved if you choose to repair your vehicle at any of our HL Assurance Approved Workshops. Superior Benefits for You Windscreen Cover Your windscreen claims will not affect your NCD. Enhanced Medical Protection Up to $1,000 coverage for the medical expenses for each of the policyholder, authorized driver and passengers up to the legal seating capacity

Learn about different HL Assurance Car plans 

The Key features of NTUC Car Insurance are 

• No Claim Discount (NCD) protection.
• Motor insurance coverage for accidental or fire damage, flood, and natural disaster.
• Enjoy a 5% loyalty discount if you insure your vehicle with NTUC for more than three years.
• Enjoy 24-hour referral services for road and medical assistance if you are travelling in West Malaysia.
• Orange Force – Enjoy the support of a 24/7 accident response team provide roadside assistance in Singapore.

Excess also called deductible is to the first amount of the claim, which the insured has the bear. If the insured has an excess of S$500 and the total repair costs S$3,000, then the insured has to pay S$500 while the insurer pays the remaining S$2,500.The insurance company normally imposes some excess as this would serve as a form of co-insurance. With an excess, the insured would tend to be more careful because if claims occur, the insured also has to be out of pocket and contribute towards the claim. In general, the higher the excess, the more careful would be the insured and hence the lower the risk of having a claim, to reduce frivolous (unnecessary and avoidable) claims.

PHV (Private Hire Vehicle)  Insurance

Yes. You can choose to pay a higher premium to have lower excess. If you are a PHV (Private Hire Vehicle) driver, you can also insure the high excess from less than $4.00 a day. Kindly contact Insurance Market Pte Ltd and we can arrange it for you.

Also Read about PHV Excess Insurance

The key features of AXA Car Insurance are 

Key Benefits

Comprehensive Cover

Covers loss or damage due to insured risks including fire and theft, and third party legal liability

Third-Party Coverage

Covers your legal liability for any third party injury or property damage

Workshop of Your Choice

Repair your car at one of AXA Premium Workshops or any workshop of your choice

Third-Party, Fire and Theft Coverage

Covers loss or damage to your vehicle caused by fire or theft, and third party legal liability

24/7 Towing and Transportation in Singapore

Up to S$500 coverage for the cost of towing to repairer or place of safety under comprehensive cover

The benefits of  Hong Leong Car Insurance are 

Comprehensive Coverage

Total coverage for you, your family and your car. Feel safe and protected when you drive on the roads.

Complimentary Car Works

Not only do we take care of you, your car is also important to us. Give your car a good treatment to maximize efficiency. Enjoy a choice of Free Car Maintenance Services when you sign up with us now!

Quality Service

With our excellent service, you can now easily get a quotation or claims assistance when you need one.

Learn about different Hong Leong Car Insurance Plans