Best Cheap Car Insurance in Singapore 2024

Compare the Cheapest Car Insurance Plans in Singapore

To find the cheapest car insurance plans we compared premiums for a driver of a 2020 Toyota Corolla Altis from all the car insurers available in Singapore. By changing variables, such as gender, years of driving experience, NCD discounts and car types, we were able to find which car insurers offer the most competitive prices for different types of drivers. While some prioritize keeping their premiums as low as possible by providing basic coverage, others balance affordable prices with comprehensive benefits.

Budget Direct's Comprehensive car insurance plan is the best option for sedan and SUV owners who require basic protection and want to pay as little as possible.

Budget's plan is one of cheapest available, with a typical car insurance quote averaging 48-54% cheaper than the average comprehensive plan for sedan and SUV drivers, regardless of no claim discount (NCD). However this price cut comes at a cost. Budget Direct's medical, personal accident and roadside assistance coverage comes at an extra cost. Nonetheless, the base premium is low enough that drivers can choose the coverage that matters to them and still pay rock-bottom prices.

Budget Direct has two options to choose from if you need to insure multiple drivers. The Named Driver plan covers the main driver and the named drivers you add to your plan. The Authorised Driver plan costs 15% more than the Named Driver plan but will cover anyone who you let drive your car. Due to the low prices, the Authorised plan still a remains competitively priced option for drivers who lend out their car often. Budget Direct's low named young and inexperienced driver excess of S$500 each also makes it a great option for parents who want to insure their younger drivers.

While Allianz Motor Protect is not the most robust motor insurance plan out there, you will find that it covers common scenarios that you are likely to face. Best of all, its unmatched premiums make it an affordable choice for an average driver -- which are way below the average cost of a comprehensive car insurance plan in Singapore. With Allianz Motor Protect, you will get sufficient coverage without paying for unnecessary features that may only be situationally useful.

Core features of Allianz Motor Protect include coverage for third-party property damage, third-party death or injury, car loss or damages, windshield repair and towing. Another stand-out feature is its low unnamed driver excess. At just S$500, you enjoy a low unnamed driver's excess rate. The only caveat is that the driver has to be above 27 years old with more than one year of driving experience. If these conditions are unfulfilled, the unnamed driver's excess rate is S$2,500.

Moreover, Allianz Motor guarantees accident repairs for a lifetime. Own a top-end luxury car? You might not be comfortable repairing your vehicle at an authorised workshop. With Allianz Motor Protect's comprehensive plan, you can fix your vehicle after an accident at any workshop of your choice.

For families who want a well-balanced yet budget-friendly car insurance plan, FWD Classic is 10-20% cheaper than average for sedan drivers and 6% below average for SUV drivers, regardless of citizenship. The plan's coverage features high personal accident, medical and car replacement benefits, lump payments for surviving children and adjustable excess options for young drivers.

FWD car insurance has a few notable benefits. First, it is the only insurer to offer a Lifetime NCD benefit when you reach 50% NCD, which lets you keep your no claim discount even when you file a claim. It also offers roadside assistance for accident and non-accident reasons (such as jump-starting your car). Lastly, FWD pays up to the market value of your car in the event of an accident. It also pays for its parts, fitting the parts and transporting the parts to Singapore if the accident were to happen in other countries. The recent addition of flood coverage and the ability to add named drivers at no additional cost (after the first one) makes FWD an insurer that provides generous coverage for nearly unbeatable prices.

For drivers aged 25-30 who want a cheap car insurance policy with great coverage for their belongings and car accessories, Singlife's Lite plan can be a great option. It costs around 30% less than average for the aforementioned age bracket, making it one of the cheapest plans on the market for young drivers, even with the S$2,500 young/inexperienced driver excess. MINDEF/MHA customers may see the greatest savings with this insurer, since Singlife offers an additional 15% off on top of current promotions. For more savings, you can opt for Singlife's 2 year plan that allows you to lock in a price at a 5% discount.

Singlife's child seat and unlimited car accessory (e.g. satellite navigation, radar detection) coverage is sure to impress drivers of accessory-laden cars. Singlife also covers damage from natural disasters and offers coverage for sunroofs, moon-roofs and other glass installations on your car. While other insurers charge extra for these benefits, Singlife includes them as part of their core plan, making Singlife attractive for those who want a cheap plan without sacrificing coverage. If you want to customise your coverage, there is also optional coverage for loss of keys, loss of use (replacement car) and additional personal accident protection.

Experienced married drivers who can take full advantage of all of Etiqa's promotions at once can save up to 25% on their car insurance premium, resulting in car insurance premiums that are 4-5% lower than the average comprehensive plan for sedan drivers. Etiqa offers solid coverage including personal accident and medical coverage, towing expenses and loss of use benefits (if your car is at the workshop after an accident). For an additional fee, you can also protect your sun/moon roof or solar film.

This plan is best for older, experienced drivers for a few reasons. First, Etiqa has a pricey young/inexperienced driver excess of S$2,000. Furthermore, its premiums are not as competitive for drivers with a low or nonexistent No Claim Discount or young drivers. Lastly, because it lacks accident coverage for your passengers, it may not be ideal for drivers who lack experience navigating Singapore's potentially risky roads.

If you want to take full advantage of Etiqa's promotions, you should try buying Etiqa's insurance on Fridays as they have an additional 5% off every Friday. Safe drivers will also benefit from an additional 5% demerit discount, which may increase the wiggle room to add an add-on that you find valuable.

For affluent families who want convenient accident reporting and belongings coverage, FWD's Prestige plan can deliver above average coverage for towing, disability, medical and personal accident coverage.

FWD Prestige also offers a courtesy car for up to three months and S$2,000 of coverage covers for personal belongings and car accessories if your vehicle gets stolen. Additionally, once you receive a 50% NCD, you are guaranteed to keep it for as long as you stay with FWD, regardless of claims.

Some smaller perks include emergency roadside assistance, $80 per occupant taxi coverage after an accident, payment for your children in the event of a catastrophic car accident and legal costs coverage for damaged caused by your car. What makes this plan even better is its 20% cheaper-than-average premium for sedans and 15% cheaper-than-average premium for SUVs.

Singlife Prestige is the best car insurance for families, especially those who have just bought a car and want maximum peace of mind benefits. Its prices are quite affordable—costing 10-15% below average for married drivers in addition to a young/inexperienced driver (YIDR) excess waiver.

The lack of a YIDR excess makes it especially valuable for parents who share their car with their kids, as they won't be liable for large out-of-pocket payments if their child gets into a car accident. Cash-strapped families who can't afford to sacrifice coverage can practice safe driving to get Aviva's 5% safe driver discount for NCD's of 50% or higher.

Singlife's benefits are plentiful with a focus on repair and accident coverage including roadside assistance, towing, on-site accident reporting and medical coverage for you and your passengers. You and your family will also get a free ride home following an accident (provided towing is necessary). If you want even more coverage, you can add on loss of keys, loss of use and additional personal accident coverage.

If you want peace of mind benefits and convenience with respect to accident protection, Income's Premium car insurance plan offers great accident coverage as well as some peace of mind services via its Orange Force service.

With the Premium plan, you will get above average personal accident covers for drivers and passengers, coverage for natural disasters and theft and the choice of using any workshop. Additionally, you will have Income's Orange Force, a 24/7 accident response team which offers accident assistance including finding alternative transportation, removing vehicles and working in your best interests. This feature can be a great option for new drivers who would like additional legal and insurance assistance.

Furthermore, because there is no extra excess for young and inexperienced drivers, Income can be a great option for first-time car buyers under 27 who have less than two years driving experience.

MSIG's MotorMax Plus is a great car insurance plan for safe drivers who want to be completely protected against the financial ramifications of a severe accident. This is because MSIG offers all of the benefits that a safe and cautious driver would want if they were the victim of an unexpected accident that results in a severe injury/death or their car being totalled. This includes the most impressive S$100,000 car loan protection benefit, which will pay the outstanding loan on your vehicle if you were to pass away after a car accident. Furthermore, MotorMax Plus will also offer a new for old replacement if your car is less than 12 months old at the time of an accident and a transport allowance benefit (S$50 per day up to 10 days) if your car is at the auto shop for more than 3 days.

Lastly, MotorMax Plus' personal accident benefits of S$100,000 for the driver and S$50,000 for the passengers is one of the highest personal accident benefit limits on the market and they offer medical benefits to the driver and passengers — a benefit that usually comes costing extra. Despite this coverage, MotorMax Plus can be quite competitively priced. For instance, while MotorMax Plus costs around S$30 above average when comparing across all the comprehensive plans on the market, we found that MotorMax Plus costs 5-11% below average compared to other top-tier comprehensive motor insurance plans for the same 50% NCD drivers.

If your focus is on maintaining your NCD (and being rewarded for it), HL Assurance's car insurance not only provides great all-around coverage but will also reward 50% NCD drivers with a 57% reduction on their premium — one of the highest NCD discounts on the market. Though it costs above average for non-NCD drivers, HL Assurance's premiums drop to around average if you hold a 50% NCD.

While the price may not be the cheapest, it is worth noting that HL Assurance's benefits are quite generous. You will be covered for damage caused by anything from riots to natural disasters, receive daily transportation allowance and have the option of authorising minor repairs — a very rare and valuable feature.