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myridesg · 8 years ago

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Complete Guide to Car Insurance Quotes in Singapore

Just bought your first car? Looking for the best car insurance quotes in Singapore? Planning to switch to another insurer? Whatever your reasons are, the important thing is to make sure you compare from a list of good car insurers.

This essential guide will focus on car insurance quotes from popular licensed insurers. You can be assured that your car is in safe hands as these underwriters are governed under the Insurance Act (Cap. 142) required by the Monetary Authority of Singapore.

We’ll also reveal which company offers instant car insurance quotes online. Why is this important? Sometimes we just want to get an estimate, and online car insurance quotes make it easier. This is useful if you’re planning to buy a car and want to work out if your car insurance policy is within your budget.

There are 13 companies in this list, sorted by alphabetical order. Let’s check them out!

1. AIG

Online Car Insurance Quotes: Yes

AIG offers 2 plans, Autovalue and Autoplus.

Autovalue is a basic plan that covers basic car insurance needs. Its benefits include:

Personal accident cover: death or permanent disability. Pays above any existing accident or insurance policy

Key replacement and tow truck if locked out of car

Selection of authorized workshops

Autoplus offers enhanced benefits:

Unlimited loss-of-use car replacement

New replacement car for cars less than 36 months

Excess waiver for safe drivers

Lifetime repair guarantee

$1,000 excess waiver

Key replacement and tow truck if locked out of car

24-hour roadside assistance and towing service

Selection of authorized workshops

AIG offers a comprehensive overview of both packages on their website. You can also download their product brochures, fact sheet and application form online.

AIG does not offer car insurance quotes online. You can choose to leave your contact details with them and request for a callback.

2. AXA

Online Car Insurance Quotes: Yes

AXA offers a personal plan called SmartDrive. In fact, four banks in Singapore—American Express, Citibank, HSBC and OCBC—offer the same policy for purchase via their bank.

SmartDrive Essential offers basic protection that includes:

24/7 towing and transportation

Guaranteed repairs for 12 months

Flood protection

Delivery of repaired car to your preferred location

There is an option to upgrade the plan to SmartDrive Essential Plus, SmartDrive Flexi Plus, SmartDrive Flexi Family, and SmartDrive for Her.

Product brochures, application forms and other documents can be downloaded from their website.

AXA offers car insurance quotes online. The online form is easy to use, well-designed, and gives you a quote within minutes. There is also an option to call their agent, or request for a callback.

3. AVIVA

Online Car Insurance Quotes: Yes

AVIVA doesn’t have a fancy name for its car insurance coverage. However, their website offers plenty of resources with details of their Car Insurance policy.

Their comprehensive package includes coverage for:

Accidental loss, fire or theft damage

Injury to you or any passengers

Medical expenses

Loss of personal belongings

Child seat cover

Use of car while in West Malaysia and Peninsula Thailand

Assistance at the scene of the accident

New car replacement for cars less than 12 months old

Replacement lock and keys

Free loss-of-use car

AVIVA offers product brochures, application forms and policy documents for download on their website.

AVIVA lets you get car insurance quotes online. The form is simple and easy to use. There is also an option to call their agent or email them.

4. China Taiping

Online Car Insurance Quotes: No

Some of you might not have heard of China Taiping. They started off as China Insurance in 1938, and merged with Tai Ping Insurance in 2002. They consolidated their operations and renamed themselves as China Taiping in 2009.

China Taiping offers two plans, AutoSafe and AutoExcel. However, it’s not clear what is the difference between both. The proposal form lists the 3 main types of cover: comprehensive, third-party fire and theft, and third-party only.

China Taiping does not offer car insurance quotes online. There is a “Get Quotation” option which brings the user to an information collection form, where an agent will follow-up on your query.

Their website’s overall design seems outdated. Despite offering personal motor insurance, China Taiping seems geared towards the commercial market.

5. Direct Asia

Online Car Insurance Quotes: Yes

Direct Asia’s website offers a fresh look and is easy to navigate. It’s easy to tell they are capturing the market of new car owners who may not know much about auto insurance.

They offer a comprehensive coverage, third-party fire and theft, and third-party only.

Their comprehensive package covers:

Injury to someone else in an accident

Damage to someone's property in a car accident

Legal costs and expenses following a car accident

Damage to your car by fire

Stolen car coverage

Crashes into a third-party vehicle

Non-crash damages to your car

Damage by flood or a natural disaster

Damage to your windscreen or windows

You can also add on various optional benefits such as 24 months new-for-old replacement, NCD protection, and compensation for loss-of-use.

Direct Asia offers car insurance quotes online. The process is simple and uses simple drop-down menus. You can also choose to call them directly, or leave details for a callback.

6. EQ Insurance

Online Car Insurance Quotes: No

EQ Insurance built their business initially through the construction industry, but have since extended their business to all classes of non-life insurance to personal and commercial clients.

EQ offers Private Motor, a comprehensive car coverage plan with these benefits:

Reimbursed expenses for repairs at their panel of workshops

Medical expenses coverage as a result of an accident directly involving the owner’s vehicle

Third-party damages

Personal accident benefit

Coverage for medical expenses incurred

You can download their brochure and application form from their website.

EQ Insurance doesn’t offer car insurance quotes online. You can either call them, email them or fill out an online contact form.

7. ETIQA

Online Car Insurance Quotes: Yes

ETIQA offers a refreshing take in the insurance industry crowded with several competitors. Unlike others, the information presented on ETIQA’s website is clear and straightforward.

They offer 3 plans: comprehensive, third-party fire and theft, and third-party only.

Their private car insurance plan offers the following:

No restrictions on use of motor workshops

Personal accident cover of up to $20,000 for the insured

Medical expenses of up to $200

Towing service of up to $200

Free windscreen cover

third-party liability including bodily injury and property damage

There is also an option to add on a NCD protector.

ETIQA provides car insurance quotes online, and you can purchase your car insurance directly from their website. Alternatively, you can email them or call their agent directly.

ETIQA’s car insurance quote page is easy to use. All you need to do is fill-out the required information via a drop-down menu, and you’ll be shown a price chart for their 3 plans. It’s convenient for those who need a quick gauge of how much their car insurance is going to cost.

Their product brochure, policy and application form can also be downloaded online.

8. FWD

Online Car Insurance Quotes: Yes

FWD is a new player in the car insurance industry. They launched in April 2016, starting with corporate insurance. In September 2016, FWD began offering direct-to-consumer personal insurance.

FWD has a different take on car insurance (and generally the whole insurance business). By leveraging on technology and the Internet, they offer instant quotes to customers, and an easy way to purchase online. It’s a great strategy to appeal to the millennial generation.

FWD offers 3 car insurance plans: Classic, Executive and Prestige. All 3 plans have roughly the same benefits; with the difference being medical coverage, towing costs, personal belongings damage, and lower claims for certain benefits.

FWD offers car insurance quotes online. The form is similar ETIQA’s, whereby you fill out drop-down menu options. It then shows you an instant quote for their Classic plan, and the option to enter a coupon code, if any. The next page shows you their quotes for all 3 plans: Classic, Executive and Prestige, with an option to select the plan that you want.

9. Hong Leong Assurance

Online Car Insurance Quotes: No

Hong Leong Assurance is part of the Hong Leong Group, and offers personal car insurance plan called Protect360.

Some of the benefits include:

Loss or damage to your car

third-party liability

Medical expenses

Personal accident coverage

Free towing up to $500

Authority to repair for minor works

24-hours automobile and emergency services

Hong Leong Assurance doesn’t offer instant car insurance quotes online. You need to fill out your details on their online quote form to request a callback. Alternatively, you can call them to apply over the phone.

You can download their brochure for Protect360 online. It’s a pity HL Assurance doesn’t offer instant quotes, despite having a nice interface for their website.

10. MSIG

Online Car Insurance Quotes: Yes

MSIG offers a car insurance plan called MotorMax Plus. This plan can also be bought through DBS or POSB (DriveShield), or Standard Chartered (Ultimate Car Protector).

Here are some benefits of MotorMax Plus:

Accidental loss or damage

third-party liability

Personal accident benefits

Medical expenses

Choice of workshop for repairs

Transport allowance

New-for-old replacement

Windscreen coverage

24-hours assistance services

Despite their outdated website design, I was surprised to discover that MSIG offers instant car insurance quotes online. However, you need to enter a lot of information including your email address and NRIC number before you’re presented with a quote. Personally, I’d like to see them adopt ETIQA or FWD’s approach – provide a quote first, then get personal details during the application stage.

You can download the MotorMax product brochure online. You also have the option of calling their agent. However, there is no option to email them for a quote.

11. NTUC Income

Online Car Insurance Quotes: No

NTUC offers 3 kinds of car insurance coverage: Drivo, Drive Master and FlexiMileage. The Drivo plan can also be purchased at POSB.

All 3 plans offer the following benefits:

Vehicle repairs

Loss and damage coverage

third-party damages

Personal accident benefit

Towing service

Windscreen coverage

The difference between their 3 plans is not clear. Each plan offers additional upgrades which are rather confusing for new car insurance buyers. At a glance, all 3 plans seem to offer the same benefit, which makes it hard for new drivers to decide. The easiest way to understand their car insurance coverage is to download the brochures for the 3 plans.

There is no option to get instant car insurance quotes online. You can either call their agent or visit their office to purchase their car insurance plans.

12. Sompo

Online Car Insurance Quotes: Yes

Sompo is part of Sompo Holdings, an insurance provider in Japan for over 100 years. They’ve been around in Singapore since 1989 offering personal and commercial insurance.

Sompo offers 3 car insurance plans: ExcelDrive Prestige, ExcelDrive Gold, and ExcelDrive Focus. Each plan offers some variations to the coverage.

All 3 plans include these benefits:

Free NCD protector if you’re enjoying 30% NCD and above

5% offence-free discount if NCD is 30% and above

Loss-of-use benefits of $100 per day, up to 10 days

Free personal accident cover up to $20,000

Free cover for legal liability of passengers

24-hour emergency services

The information presented on Sompo’s website is simple to understand. Even though they offer 3 plans, it’s easy to compare them at a glance.

Sompo offers instant car insurance quotes online. However, you have to fill out a lengthy application form before a quote is presented. Alternatively, you can call their agent to make an enquiry.

Their product brochure and application forms can be downloaded from their website.

13. UOI

Online Car Insurance Quotes: No

UOI is a member of the UOB group and provides personal and commercial insurance services. If you purchase an insurance policy from UOB, chances are it is underwritten by UOI.

UOI offers comprehensive, third-party fire and theft, and third-party only plans. All 3 plans offer the following:

Accidental death or injury to other parties

Accidental damage to other parties' property

Legal liability of passenger for acts of negligence

The comprehensive package includes these additional coverage:

Vehicle damaged by fire or stolen

Accidental damage to vehicle

Medical expense coverage

Personal accident coverage

Windscreen coverage

There is no option to get car insurance quotes online. You can download their application form, product brochure, and policy contract from their website. To purchase a policy, you’ll need to call them or visit a UOB branch.

So Which Car Insurance Policy Is Better?

The difference is a matter of choice. Some of us find it more convenient to visit our neighbourhood bank to apply for a car insurance policy.

However, do note that if you visit retail banks such as Citibank, DBS or OCBC, you’ll be purchasing car insurance plans underwritten by AXA, MSIG or NTUC Income. For example, DBS offers car insurance quotes from MSIG and NTUC. This is true for all retail banks in Singapore except for UOB – theirs is underwritten by UOI.

If you enjoy price comparison and doing your own research, then consider underwriters like AVIVA, Direct Asia, ETIQA, or FWD. These insurers offer instant car insurance quotes online without having to call an agent or submit your personal details for a callback.

If you’ve been driving for many years, and plan to shop around for a new insurer—whatever your reasons may be—why not consider another company? That’s the whole point of getting car insurance quotes online; you get to compare your current policy without the hassle of speaking to an agent.

At the time of writing, all 13 companies are members of the General Insurance Association of Singapore, so you can be sure that they are operating under full disclosure.

I’ll be updating this list frequently. I hope to see some of the companies on this list move towards offering instant car insurance quotes, or at least attempt to rebuild a better signup page like how Direct Asia and ETIQA have done.

I hope this list helps!

#car #insurance #singapore

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