Car Insurance Singapore | Best Car Insurance Plans 2024

Car Insurance | Insurance
by Priyadarshini 6 May 2024

Car insurance isn’t just a legal requirement; it’s your safety net on the road. Protecting your vehicle from accidents, theft, and unforeseen circumstances, provides financial security and peace of mind. Don’t risk being stranded without coverage – ensure you are protected with the best car insurance Singapore. In this blog, we tell you about car insurance Singapore 2024.

While it may be tempting to simply renew your current car insurance policy and complete the task, you may be missing out on a better deal elsewhere. For starters, you may be able to get a much cheaper car insurance premium from another insurer. (You’ll need to get an online quote because insurance premiums are based on the driver’s profile, car make, and model.

Many car insurance plans now include great features that cater to a variety of needs, such as personal roadside assistance, young driver coverage, and a long list of conveniently located workshops. Don’t miss out on them either.

Here are the best car insurance plans in Singapore for the year 2024: 

FWD – The FWD Car Insurance is easy to purchase online.

What do you get with FWD Car Insurance Singapore?

  • Good value for money, with a lifetime 50% NCD guarantee.
  • There is no need to name each driver. Anyone you trust to drive your vehicle is insured (not applicable for Classic Plan unless a rider is added).
  • If your car is written off or permanently lost, we will provide you with a courtesy car for three months.
  • Get up to S$80 daily transportation allowance (for up to ten days) while your car is being repaired.

AIG – You can easily purchase your plan online.

What do you get with AIG Car Insurance Singapore?

  • Covers collision-related accidents for a lower premium.
  • Covers third-party property damage up to S$5,000,000 and unlimited coverage for death or injury to third parties.
  • Pay a lower premium when you limit the policy to drivers aged 30, 35, or 40 years and above, or limit the coverage for the next 12 months.
  • Excellent claim service – fast claim approval within one working day, with 99.9% of own damage motor claims approved.
  • Excess waiver of up to S$1,000 for in-car camera footage.
  • Unlimited windscreen/window cover.

TIQ – It is easy to buy and claim (claims can be paid out within 30 minutes).

What do you get with TIQ Car Insurance Singapore?

  • S$50/day allowance if your vehicle is stuck in the workshop.
  • Adjustable excess allows for better pricing.
  • Low age limit (24) for young and inexperienced drivers – 5% additional discount if you have been demerit-free for the last three years.
  • Free child seat coverage worth up to S$300
  • Affordable premiums due to ongoing promotions.
  • The Drive Less Save More add-on allows you to save up to 30% annually in cash rebates.
  • Excess waiver of up to S$1,000 for in-car camera footage.
  • Unlimited windscreen/window cover.

MSIG – It is a reputable brand with over 30 authorized workshops.

What do you get with MSIG Car Insurance Singapore?

  • Provides car loan protection of S$100,000 in the event of death (for MotorMax Plus policy only).
  • 24-hour roadside assistance for towing, lockouts, and minor roadside repairs.
  • Replacement of a new vehicle if your vehicle is irreparably damaged after an accident.

Allianz – With Allianz Car Insurance Singapore, you will get coverage for third-party property damage, death, or injury, and legal representation and defense are included in all plans.

What do you get with Allianz Car Insurance Singapore?

  • Lifetime warranty on repairs.
  • A complimentary courtesy car while your vehicle is being repaired.
  • Replacement car if your vehicle is less than two years old and beyond repair.
  • Includes 24/7 roadside assistance and flexible excess.


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