Top 3 Cheapest Car Insurance in Singapore
You may own a car & want to protect yourself by getting valid insurance. Accidents may take place at any point in time. Hence, it will be wise to have valid car insurance. Also, the rules of Singapore require you to have valid & proper insurance for your car. Services & repairs are quite expensive and will increase further depending on the damage that occurs. With proper insurance, you can avoid wasting a fortune for repairing your vehicle.
There are so many car insurance companies and insurance plans available, it would be wise to compare them and choose one that is worth the money and provides the best coverage for your car.
Comparison of Top 3 Cheapest Car insurance Companies in Singapore
To help you choose the best insurance plan for your car, we compare the following 3 Cheapest Car Insurance Companies in Singapore.
- AXA Insurance: This insurance company offers comprehensive coverage, theft coverage & 3rd party coverage. There is also the option to include more insurance coverage if you desire protection from unexpected events. Besides this, this company boasts of having insured thousands of cars across the globe. This proves its increasing popularity among car owners. It is reliable & known to offer hassle-free claims. The main highlights of the plan are affordable rates, flexible plans, dental & medical expenses and higher flood protection.
- NTUC Income Insurance: It is popular due to its Orange Force, the 24/7 emergency-assistance team. They can be expected to be at the accident site to provide immediate medical help. Also, they assist with vehicle removal and sort out insurance claims. Less experienced drivers are recommended to avail of this Income insurance plan for their car as it will prove to be more than beneficial. It is optional for seasoned drivers. You can get comprehensive insurance plans & choose between Income Premium & Drivo Classic plans. The workshop policy is a major difference. With Premium, you are free to visit any workshop. However, the Classic Drivo plan limits you to just 40 approved workshops.
- China Taiping Insurance: It offers AutoSafe & AutoExcel plans to meet your motoring needs. Policyholders are offered with 10% or above NCD (No Claims Discount) can enjoy free protector benefits. Renewal of plans allows you to derive a 10% loyalty discount. Also, enjoy a waiver of excess for accident claims at authorized workshops. You also get a complementary windscreen benefits. Your damaged windows or windscreen will be replaced or repaired. It also includes on-boarding or in-vehicle units. By paying a nominal premium, you can include Protection Package & Loss of use advantages. It covers SOS emergency evacuation, loan protector, total loss protection, etc.
Comparison of Comprehensive Insurance Plans Bewtween AXA, NTUC Income and China Taiping
We summarise the key benefits of these 3 cheapest car insurance plans below for your information.
| Insurer | AXA | China Taiping | NTUC Income |
|---|---|---|---|
| Own Damage Excess | NCD 0%-40% (50% off Basic excess) NCD 50% (Waived Basic excess) |
Depends on Plan & Premium | NCD 0%-50% (Full Waiver Of Excess if you upgrade your plan to Plus Plan) |
| Windscreen Excess | $100 + GST | $100 + GST | $100 + GST |
| Young & Inexperienced Driver Excess | Additional $2500 (age <26, driving experience < 1 yr) Any workshop: Additional $5000 (age <26, driving exp < 1 yr) |
Additional $3000 (age <= 25) Additional $3500 (driving experience < 1 yr) |
Additional $2500 (age <= 26, driving experience < 1 yrs) |
| Workshop Plan | Authorised Workshop only | Authorised Workshop only | Authorised Workshop only |
| Authorised Workshops | AXA Workshops | China Taiping Workshops | NTUC Workshops |
| Loss of Use / Courtesy Car | $50/- per day maximum 10 days (Optional) | Optional ($53.50) | Optional ($53.50) |
| NCD Protector | 30% & above (Optional) | Free When NCD is 10% and above | 10% of final premium. MIN $50+GST (30% & above) |
| Unnamed Driver Excess | Additional $500 | Additional $500 | Additional $500 |
| Policy Terms and Conditions | AXA Policy Terms | China Taiping Terms | NTUC Policy Terms |
| 0% Interest Installment | DBS, POSB | NA | DBS, POSB, UOB, OCBC. |
| Other Benefits | ESSENTIAL PLUS PLAN (RESTRICTED WORKSHOP) / TRANSPORT ALLOWANCE ($50/DAY, MAX 10 DAYS) / PA $100K |
We help you get online quotations from these top 3 Cheapest car insurance companies and compare thier quotations for you. Guaranteed Lowest Quote. Get a free Quote Now!
