Age
Older drivers will generally pay much less than young drivers as they're seen to have more experience.
Finding The Best Car Insurance In Singapore
Compare car insurance plans from Singapore's insurers in minutes. eazy specialises in car insurance comparison in Singapore, helping you compare policies, understand your options, and select the best fit for your needs.
Do I legally need Car Insurance?
What are the 3 types of Car Insurance?
How much does it cost?
How to Pick the Right Car Insurance Plan
How to File a Car Insurance Claim?
Why Is Motor Insurance A Legal Must In Singapore?
It is an offence to drive a vehicle without valid insurance coverage and is also a prerequisite for road tax renewal. The insurance must at least cover third-party liability such as deaths, bodily injuries and property damages.
The penalty for this offence includes a fine of up to $1,000 or imprisonment of up to 3 months or both, and a mandatory disqualification from holding a driving licence for at least 12 months.
Which Car Insurance Coverage Do You Need?
Understanding the different types of car insurance in Singapore helps you choose the right level of protection for your needs and budget.
Third-Party Only (TPO)
TPO is the most basic and cheapest car insurance option in Singapore. It provides coverage for damages caused to third parties, including injury or property damage. However, it does not cover any repairs or damages to your own vehicle.
Third-Party, Fire & Theft (TPFT)
TPFT offers the same coverage as TPO, with added protection against fire damage and theft. While this type of car insurance still doesn't cover damage to your own vehicle caused by an accident, it provides an extra layer of security for those concerned about these additional risks.
Comprehensive
Comprehensive car insurance is the most extensive type of car insurance in Singapore. It may also include additional benefits like coverage for medical expenses or personal accidents.
Side-by-Side Comparison Table Of All Car Insurance Coverage Types
| Type | Third-Party Only (TPO) | Third-Party, Fire & Theft (TPFT) | Comprehensive |
|---|---|---|---|
| Injury to Others | |||
| Damage to Other Cars | |||
| Fire Damage | |||
| Theft | |||
| Accidental Damage |
How Are Car Insurance Premiums Calculated?
Car insurance in Singapore typically starts from $700 annually, depending on factors such as the driver's age, driving history, vehicle type, and coverage options. Premiums can also vary significantly based on the level of protection chosen, such as basic third-party plans versus comprehensive car insurance.
Key Factors That Determine Your Car Insurance Premium
Driving Experience
Experienced drivers with no claims will typically pay less than new drivers and young drivers as they present a lower risk.
Traffic Offences
Avoiding points on your licence helps keep your premiums low, as convicted drivers are considered a higher risk, thus incurring higher premiums.
Prior Claims
Your claims history, including any no claims discount, can make your premium cheaper.
Additional Drivers
Adding a named driver to your policy could mitigate your risk and decrease your premium if they are an experienced driver with no claims.
Voluntary Excess
The amount of money you elect to pay towards any car insurance claim. The higher this excess, the lower the price tends to be.
Workshop Choice
Insurers have a panel of authorised workshops which it has certified as legitimate and affordable. Choosing insurer's “Authorized Workshop” plans are always cheaper as opposed to “Any Workshop” plans.
No-Claim Discount (NCD)
A No-Claim Discount (NCD) is one of the most valuable benefits of car insurance, rewarding safe drivers with lower premiums. If you're looking to save on car insurance in Singapore, this is an essential factor to consider. Here's why the NCD matters and how it can help reduce your insurance costs.
Key Things to Know
How NCD Grows
Each claim-free year adds 10% to your discount, up to a maximum of 50%.
Making a Claim
Filing a claim may reduce or reset your NCD, leading to higher premiums at renewal. Think twice for minor accidents.
NCD Protector
Some insurers offer an add-on that shields your NCD from being reduced after certain type of claims.
Add-Ons That Can Make Your Motor Insurance Even Better
While basic motor insurance offers essential coverage, add-ons can provide more tailored protection. Here are some useful options to consider:
No-Claim Discount Protector
Safeguards your No-Claim Discount (NCD) even after making a claim, ensuring no increase in premiums.
Personal Accident Coverage
Offers compensation for injuries sustained in an accident, covering both the driver and passengers.
Loss of Use Coverage
Covers the cost of a rental vehicle or alternative transportation while your car is being repaired following a covered claim.
Solar Film Coverage
Covers the cost of repairing or replacing your vehicle's solar film if damaged in an accident.
3 Ways To Secure The Lowest Car Insurance Plans
Choosing the right car insurance plan doesn't have to be a daunting task. By considering the following factors, you can secure the lowest premiums while ensuring you have the coverage you need:
Compare multiple insurance providers as prices and offerings vary significantly between providers. By comparing quotes, you can find a competitive rate and choose the policy that best fits your needs.
Choose the right type of coverage by tailoring your coverage to match your driving habits. If you don't drive frequently, you may not need comprehensive coverage, whereas daily drivers may benefit from more extensive protection. Ensure your coverage reflects both your needs and budget.
Choosing a lower excess can reduce your out-of-pocket costs during a claim, although it may come with slightly higher premiums. Some plans offer the option of a $500 excess when you use any workshop, or a $0 excess if you opt for authorised workshops.
Your Step-by-Step Car Insurance Claims Guide
Accidents happen, and knowing the right steps ensures your car insurance claim goes smoothly and your coverage works when it matters most.
Report to the Police
- Call the ambulance immediately if anyone is injured.
- A police report is required if the accident involves any of the following:
Government vehicle or propertyForeign vehiclePedestrian or cyclistHit and run
- Call the ambulance immediately if anyone is injured.
- A police report is required if the accident involves any of the following:
Government vehicle or propertyForeign vehiclePedestrian or cyclistHit and run
What Other Types Of Vehicles Have Motor Insurance Coverage?
Some of the most common vehicle insurance types, after private car, are:
Commercial Vehicle
Commercial Vehicle Insurance is coverage for business-use vehicles, oftentimes industrial and load-bearing. This can include trucks, lorries, vans, trailers, buses and coaches.
See more
Supercar
Supercar Insurance is an insurance policy designed to cover the different risks of owning and driving a high-performance car. These cars range from high to extremely high in value and have a low volume of production.
See more
Electric Vehicle
Electric Vehicle Insurance covers all vehicles with an electric battery and electric motor as its propulsion system. As the industry, infrastructure and production lines are still in their infancy, insurance for such “new” forms of electric transport is even tailing behind.
See more
Frequently Asked Questions
About Motor Insurance In Singapore
- Most comprehensive motor insurance offers coverage on loss of personal belongings (i.e. phones, laptops, cameras) as an add-on. If you have opted for such an add-on, loss of personal effects is covered in the event personal belongings are stolen due to forced entry into the motor vehicle. The incident will have to be supported by a police report.
What isn’t covered in insurance are not limited to the following:
- Wear and tear
- Depreciation
- Mechanical breakdown
- Negligence
- Damage due to illegal activities (driving under the influence, road racing)
- Damage caused by drivers without a valid licence
- Damage due to overloading
- Damage due to intentional acts
- Damage due to unapproved modifications
- In the event you are involved in a car accident, you are required by your car insurance company to file an accident within 24 hours.
Call eazy’s 24/7 Accident Assistance emergency hotline at +65 6333 2222. A reporting officer will go to the scene and file an accident report for you on the spot. If you have left the site, you can arrange for the reporting officer to meet at your preferred location. - Yes. The Land Transport Authority (LTA) requires all vehicles in Singapore to have valid motor insurance before they can be driven on the road. It is also mandatory for your car to remain insured throughout the entire road tax renewal period. At a minimum, a third-party only policy is required, providing coverage for injuries or property damage caused to others.
- No. Unlike life insurance policies which are on an auto-renewal basis, automatic renewal of car insurance is not common in Singapore (though some insurers offer this). We believe that clients should be able to choose and review their policy with their insurance company before renewing.
- Excess refers to the amount of money that the policyholder must pay out-of-pocket towards a claim before the insurer will cover the remaining cost. In Singapore, car insurance policies typically have a standard excess amount, but policyholders may have the option to increase or decrease their excess amount in exchange for a change in their insurance premiums.
- Yes, you can purchase additional coverage for your basic car insurance. This is known as add-on or extension coverage.
Some common types of add-on coverage for car insurance in Singapore include:
- NCD Protector: Protects your No-Claim Discount (NCD) in the event of an accident or claim.
- Personal Accident: Provides coverage for death and permanent disabilities sustained in the event of an accident.
- Loss of Use: Reimburses you for the cost on loss of usage while your car is being repaired in the workshop
- Replacement Car Coverage: Provides a replacement car to use while your car is being repaired in the workshop.
- Accessories Coverage: Covers the cost of repairing or replacing accessories that are damaged in an accident.
If you are exploring your options, it is best to compare insurance in Singapore to find a plan that offers the right mix of core and add-on coverage. - Yes. If your vehicle is registered under a company name, you can apply for commercial car insurance. For added protection, you may also consider investing in a business insurance package, covering not just your vehicles but also other aspects of your operations, assets, and liabilities.
- In most cases, No-Claim Discounts (NCD) are non-transferable between personal and company-owned vehicles because the NCD is tied to the policyholder's name and driving record — not just the vehicle itself.
- Not always. Most policies cover only named drivers or drivers who meet specific criteria (e.g. age or experience).
- Yes. You can switch insurers at any time, but early cancellation fees or a loss of no-claim discount (NCD) may apply. Always check your current policy's cancellation terms.
- It depends on your coverage. Comprehensive car insurance usually covers damage from floods, storms, or falling trees, while third-party only policies typically do not.
- No, not by default. Private car insurance usually excludes rental, ride-hailing, or commercial use unless you purchase specific add-on coverage or a commercial vehicle policy.
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