Best Car Insurance July | Car Insurance July 2022 Singapore

Car Insurance | Insurance
by Priyadarshini 11 July 2022

In Singapore, having your car insured is required. When your policy is up for renewal, why not make the most of it by looking for the finest car insurance plan in town? We tell you about the best car insurance for July 2022 in Singapore

While it may be tempting to simply renew your current vehicle insurance policy to complete the task, you may be losing out on a better price elsewhere. For starters, you may be able to acquire a substantially lower auto insurance price from another insurer. Many automobile insurance policies now include wonderful features that cater to specific needs, such as personal roadside help, young driver coverage and a large list of conveniently placed workshops. Don’t pass them up, either.

Best Car Insurance July 2022 in Singapore

FWD Car Insurance

It’s fully digital insurance, FWD works hard to be incredibly user-friendly. On their website, you may get a quote and buy vehicle insurance in only a few minutes. FWD is also the only insurer that offers a lifetime 50% NCD, rewarding all drivers for responsible driving. If your No Claim Discount reaches 50%, you will be able to keep it as long as you renew with FWD.

Customers appreciate the fact that FWD car insurance is relatively flexible. Unlike other insurers, which need you to specify additional drivers in order to avoid paying a larger excess, FWD’s coverage extends to anyone you trust to drive your vehicle. (However, the regular S$2,500 excess for damage caused by a young driver under the age of 27 remains in effect, or you can choose to lessen the excess by paying more.) FWD also offers international coverage, notably in West Malaysia and parts of Thailand.

FWD offers three automobile insurance plans: Classic (the least), Executive, and Prestige (most expensive). They essentially cover the same things, but with different claim limits. So, unless your automobile is extremely pricey, a Classic plan should suffice for the majority of Singaporean drivers.

AIG Car Insurance

AIG is one of the world’s most well-known insurance companies and the go-to vehicle insurer in Singapore. The Collision-Only plan covers collision-based accidents such as collisions with another vehicle, hit-and-run damages, and fire protection (if your car catches fire as a result of a collision with another vehicle). The plan also includes coverage for third-party property damage up to S$5,000,000 and unlimited coverage for third-party death or injury.

Furthermore, you can limit the policy’s coverage to drivers aged 30, 35, or 40 years or older to enjoy a lower premium, or you can customize the coverage by selecting your estimated mileage usage over the following 12 months. For those who want more coverage, there is also the Car Insurance Complete plan, which includes coverage for theft, flood, windscreen/windows, and riots. The plan additionally provides up to S$5,000,000 in coverage for third-party property damage and unlimited coverage for third-party death or injury.

MSIG Car Insurance

MSIG is one of Singapore’s oldest car insurance firms, with a well-established network of over 30 authorized workshops. This provider would appeal to more conservative, brand-conscious drivers. Aside from a great reputation, we enjoy that MSIG provides car loan protection. If the car owner dies, MSIG will pay off the loan so that the surviving family is not burdened by the debt. Given the high cost of cars in Singapore, this feature is a must-have.

The following plans are available: MSIG offers two car insurance plans: MotorMax and MotorMax Plus. Also, the biggest distinction between them is the workshop policy. If you drive an older car that is no longer under warranty, the cheaper MotorMax plan should suffice, as there are over 30 authorized workshops on the island. To gain features like loan protection, transportation allowance, and a new automobile, you’d have to go with the more expensive MotorMax Plus.

Allianz Motor Protect – Best Car Insurance July 2022

Low premiums don’t automatically imply a lack of coverage. Not only does Allianz Motor Protect provide a lifetime warranty on repairs to ensure that the work done to your car is done correctly, but they also provide a complimentary courtesy car for every day your car is in the workshop having repairs, up to ten days per accident or breakdown. These advantages, however, are limited to their full plan.

If you simply need third-party coverage, you can choose the third-party-only plan or the third-party, fire, and theft-only plan. They provide coverage of up to S$5,000,000 for third-party property damage, unlimited coverage for third-party death or injury, and legal representation and defense coverage of up to S$3,000. There’s also an NCD protector offered as an optional policy at an additional premium across all three policies for drivers with an NCD of 30% or higher.

What policies are available: third-party only, third-party with fire and theft, and complete.

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