Get FREE Loan Quotes From Loan Advisor’s Top Reviewed Licensed Money Lenders in Singapore!     Click here

Get Free Quotes from the Best Licensed Moneylenders!  Click here

NTUC vs FWD vs Singlife Car Insurance: Which Should You Get?

ntuc vs fwd vs singlife car insurance
Table of Contents

Car insurance is compulsory in Singapore, but finding a comprehensive car insurance plan that’s affordable, dependable and offers all the personal accident coverage, roadside assistance, and other perks you need can take some shopping around.

The best car insurance premiums are almost always those offered by big-name car insurance companies like NTUC, Singlife and FWD car insurance, but average costs can vary, and cheap premiums might not always include the comprehensive coverage you need.

On average, car insurance in Singapore sits at around $850 to $1,000 for regular motorists, though young and inexperienced drivers might need to pay more. Most insurers offer several different types of car insurance policies, which we will explore in greater detail throughout this article. As a general rule of thumb, however, so-called “comprehensive” policies tend to offer the best coverage with most insurers. 

Read Also: Our guide on Finding the Cheapest Car in Singapore 2022.

Car Insurance in Singapore at a Glance

Taking out a car insurance plan is both compulsory and essential if you intend to drive in Singapore. There are many car insurance plans on the market, but the best car insurance premiums will be those that cover your unique needs at a good price – even more so if they throw in extras like personal accident insurance, medical expenses coverage, and more.

Different car insurance companies offer various types of car insurance premiums and packages, with things like young driver coverage or other niche policy needs often attracting the highest rates. For this reason, it’s important to compare car insurance premiums according to your unique situation, to ensure you can pin down a product that properly meets your needs at the right price.

If you’re curious about which brands are best, generally speaking, we’d recommend the following car insurance companies to different types of customers:

Type of Driver / CustomerBest Car Insurance Companies

Drivers on a tight budget



MSIG, Singlife with Aviva, FWD

Safe drivers (i.e., those with a record of no or few car insurance claims)


Young and inexperienced drivers

Singlife with Aviva, Etiqa

Drivers aged 20 – 40

FWD, Singlife with Aviva

Frequent / highly dependent car users

AIG, Allianz

Drivers in search of comprehensive personal accident benefits / car accident coverage

NTUC, Singlife with Aviva, AIG

We’ll delve into more details throughout the remainder of this article, helping you to better understand how car insurance cover works and what you should look out for when you come to compare car insurance premiums.

Types of Car Insurance in Singapore – Basic vs Comprehensive Car insurance Plans

With confusing product names and different variations, it can sometimes feel as if there are so many car insurance plans on the market, it’s hard to make sense of what’s what. But if you take a step back, there are only three car insurance plans you really need to be aware of – Third Party, Third Party, Fire and Theft (TPFT) and Comprehensive.

Most insurers will offer the best personal accident benefits, overseas coverage, and other top perks as part of their comprehensive car insurance plans only, while their other car insurance plans tend to be a bit more basic. Here’s what you can typically expect from the three main kinds of car insurance cover –

Third Party Only – The Most Basic Car Insurance Plan

  • Covers injury or death to a third party
  • Covers damage to any third parties’ property
  • Does NOT cover damage to your own car

Third Party, Fire and Theft (TPFT) – A Little Extra Peace of Mind

  • Covers everything that standard Third Party insurance covers
  • Also covers fire damage and theft of your vehicle
  • Does NOT cover any other damage caused to your vehicle

Comprehensive – The Best Car Insurance Plan For Most Drivers

  • Covers everything that Third Party, Fire and Theft covers
  • Also covers accidental damage to your vehicle
  • MAY NOT ALWAYS include medical expense coverage and personal accident insurance unless your car insurance company offers these perks as extras

Regardless of your circumstances, you need to have a bare minimum of at least Third Party car insurance cover to drive legally in Singapore. That said, it’s down to you to check the small print of the car insurance policy you are purchasing to ensure it covers everything you need. In the next section, we’ll review the key things you should be looking out for.

What to Look for When Buying Car Insurance in Singapore

Once you’ve decided on which type of car insurance is most suitable for you, it’s time to start comparing car insurance policies offered by popular car insurance providers. Here are the key things you’re going to want to look out for:

1. A Sensible Excess That Suits You

Every car insurance policy requires the policyholder to make an upfront excess payment in the event of making an insurance claim. For example, a car insurance policy with a $500 excess will require you to make a $500 upfront excess payment on a $5,000 insurance claim, with the insurer footing the bill for the remaining $4,500.

It’s important to note that you can usually get a cheaper insurance premium by purchasing a policy with a higher upfront excess payment. That said, you’ll need to make sure you can definitely afford said payment in the event of a car accident or claim. You should also keep in mind that some policies might charge an additional inexperienced driver excess, so choose your policy wisely.

2. A Good Dealer’s Workshop Policy for Repairs

If you need to get your car repaired, you’re going to want to take it to a trusted and reliable dealer’s workshop. The best car insurance plans offer you more flexibility in this area, while cheaper policies may require you to use a certain authorized dealer’s workshop. Consider whether flexibility is important to you, or if you’d rather simply save money on the price of your premium.

3. Roadside Assistance Coverage

While not important to everyone, some drivers might value an insurance policy that comes with 24/7 roadside assistance. This feature may be particularly beneficial if you are an inexperienced driver, or someone who travels long distances in your vehicle. If the latter applies, you might want to look for a premium that includes overseas coverage, too.

4. No Claims Discount Protection

Safer drivers will benefit from car insurance policies that offer a No Claims Discount or “NCD”. Most insurers will usually offer this service, whereby you can access discounts on future policies if you’re lucky enough to avoid making an insurance claim, but not every insurer will offer an NCD Protector that allows you to maintain your No Claims Discount record even in the event of one or more claims.

5. Daily Transport Allowance and Courtesy Car Perks

The best car insurance plans will provide you with a courtesy car when your vehicle is undergoing repair – but courtesy car coverage is by no means included with every policy. Shop around for car insurance policies that offer both courtesy car coverage and a daily transport allowance, whereby you’ll receive an allowance from your insurer for each day your car is off the road. These policies are by far the most convient in the event of an accident.

NTUC Income vs FWD Car Insurance vs Singlife with Aviva – Which is the Best?

The car insurance policies listed below are Loan Advisor’s favorites on the market right now. This table reviews and compares all the most important things you’ll want to know about each auto insurance product. Afterwards, we’ll dive a little deeper into the key features of all the best car insurance plans currently available.

Car Insurance Providers Name / ProductType of Car Insurance PolicyTop Product Features
*Estimated Annual Cost
Best For

NTUC Income – Drivo


  • Roadside assistance available at anyplace, anytime
  • $50 per day transport allowance
  • More than 30 workshops nationwide
  • 24/7 medical assistance available, including overseas coverage in West Malaysia
  • No claim discount protector for customers who enjoy 50% no claim discount for two years or more

Starting from $1,000

Emergency assistance team reliability



  • Lifetime 50% no claim discount guarantee
  • Courtesy car available for up to three months
  • $80 daily transport allowance
  • Pay for and purchase your plan quickly and easily online
  • You won’t need to name all drivers on your plan

Starting from $918

No claim discount and overseas coverage

Singlife with Aviva


  • Special promotions available to civil servants and NS men
  • Low age limit (24) makes this policy suitable for a young and inexperienced driver

Starting from $1,060

Young drivers looking for discounts



  • Low age limit (24) suitable for young drivers
  • Fast approval and purchase process (30 mins or less)
  • Flexible excess amount
  • $50 per day transport allowance available
  • Free child seat and constant promotions available

Starting from $1,160

A young and inexperienced driver

MSIG – MotorMax / MotorMax Plus


  • 24/7 roadside assistance, minor repairs, and lockout assistance
  • Car loan protection of $100,000 (MotorMax Plus only)
  • More than 20 authorized workshops nationwide
  • Replacement car available if a car accident leaves yours unusable

Starting from $825

Motorists on a budget


Collision only, comprehensive

  • Car accident and collisions covered at lower costs than competitors
  • Lower insurance premiums available to over-30s
  • Third party property damage is covered for up to $5,000,000
  • Unlimited medical assistance coverage for death and injury of third parties

Starting from $1,020

Car accident and collision cover


Third party, TPFT, comprehensive

  • Lifetime warranty for when you need to get your car repaired
  • Courtesy car always included 
  • 24/7 roadside assistance included
  • Flexible excess amount
  • Damage to property and medical assistance covered for third parties
  • Replacement car available if yours is left unusable

Starting from $850

Market-beating value for money

HLAS – CarProtect 360


  • Ultimate flexibility to choose your own repair workshop in the event of a car accident
  • Free car servicing, paint protection and air con treatment with discounts available
  • 24/7 roadside assistance

Starting from $1,330

Choice of car repair workshops

Singtel – Car Protect


  • Competitive prices and fast applications
  • Towing and vehicle removal charges included when a personal accident occurs
  • Underwritten by big-brand insurer, Great Eastern Life
  • All named drivers and their passengers get up to $50,000 insurance cover

Starting from $765

Comprehensive coverage at a sensible price

NTUC Income – Drivo Electric Vehicle Insurance


  • More than 11 electric vehicle models covered
  • Insure luxury electric cars like BMW, Audi and Tesla at an affordable price

Dependent on EV usage

Electric Car Owners

*Prices are for reference only. Please refer to insurance companies for details.

Car Insurance Providers in Closer Detail

As you can see from the table above, there are tons of top-rated insurers offering comprehensive coverage to drivers in Singapore – but which policy is the best fit for you, and your unique driving needs? Let’s take a closer look at each of the car insurance policies mentioned above to help you make an informed decision.


1. NTUC Income Drivo – Best for Emergency Assistance Team Reliability

Why it’s good: NTUC Income Drivo is the logical choice for drivers who require dependable emergency assistance coverage. NTUC Income’s “Orange Force” recovery team have an excellent reputation and an uncanny ability to take all the stress out of making an insurance claim. You can also get very competitive personal accident benefits worth up to $50,000 with this insurer, as well as generous medical expenses coverage, too.


  • More than 30 authorized workshops
  • Free no claim discount protector
  • 24/7 medical assistance in SG and West Malaysia

Available plans: 2x comprehensive options available: NTUC Income Drivo Classic and Premium

Annual premium: Starting from $1,000

Promotions: N/A

fwd car insurance

2. FWD Car Insurance – Best for No Claim Discount and Overseas Coverage

Why it’s good: FWD’s car insurance plans offer a level of car insurance flexibility that’s seldom seen here in Singapore. You won’t have to name additional drivers and worry about doing so affecting your premiums, you’ll get ample overseas coverage in places like West Malaysia and Thailand, and you’ll get to take advantage of FWD’s market-leading no claims discount policy, which rewards all drivers with 50% NCD for life.


  • 50% NCD guarantee for life
  • $80 transport allowance
  • Excellent coverage overseas

Available plans: 3x comprehensive options available: Classic, Executive and Prestige

Annual premium: Starting from $918

Promotions: Get a 30% discount with a promo code “CAR30”.

3. Singlife with Aviva – Best for Young Drivers Looking for Discounts

Why it’s good: Young and inexperienced drivers can enjoy abnormally affordable rates by taking out a Singlife with Aviva policy. That said, every young driver will be expected to accept higher-than-average excess terms for this privilege. Singlife with Aviva also boasts more than 30 authorized workshops nationwide, potential to protect your no claim discount and a bunch of other great features.


  • Low age limit on policies
  • NCD can be protected with ease
  • More than 30 workshops nationally

Available plans: 3x comprehensive plans available: Lite, Standard and Prestige

Annual premium: Starting from $1,004

Promotions: Get 25% off with promo code “CAR25”.

4. Etiqa – Best for a Young and Inexperienced Driver

Why it’s good: Etiqa is an excellent fit if you’re a young driver. Not only do they offer affordable prices, but Etiqa’s digital-only business model makes their insurance products super-easy to browse and buy online. This insurer also offers a lot of flexibility when it comes to making excess adjustments – providing young drivers with yet another great way of getting down the cost of their premiums.


  • Great value for young driver
  • Low age limit
  • $50 per day transport allowance

Available plans: Comprehensive

Annual premium: Starting from $1,161.34

Promotions: N/A

5. MSIG MotorMax / MotorMax Plus – Best for Motorists on a Budget

Why it’s good: MSIG has a market-leading reputation in Singapore’s insurance sector, which means its customers benefit from a tried-and-tested reputation, as well as excellent access to repair workshops, with more than 30 available nationwide. Customers can also enjoy a car loan protection benefit in the event the car owner passes away, which is great news for families in the event of an unexpected tragedy.


  • Affordable prices for budget drivers
  • More than 30 authorized workshops nationwide
  • 24/7 roadside assistance included

Available plans: Comprehensive

Annual premium: Starting from $825

Promotions: Up to $150 in Petrol vouchers and 25% off car grooming services available here.

6. AIG – Best for Car Accident and Collision Cover

Why it’s good: AIG isn’t just one of Singapore’s most popular all-round insurers, it’s also one of the best choices for car insurance, too – especially if you’re looking for collision cover. AIG offers a collision-only plan that covers up to $5,000,000 worth of third party property damage. What’s more, their complete plan offers superb medical expenses coverage and very competitive prices.


  • Get collision cover at affordable prices
  • Potentially pay a lower premium depending on your age
  • Excellent coverage for death, injury, and medical expenses

Available plans: Collision only, comprehensive

Annual premium: Starting from $1,020

Promotions: N/A

7. Allianz – Best for Market-Beating Value for Money

Why it’s good: If you’re looking for a bargain price on a car insurance policy that covers just about everything, Allianz is the logical choice. You’ll get an Allianz Motor Protect lifetime warranty on repairs, solid breakdown coverage, a no claim discount protector and a whole lot more. Customers who want to save even more cash have the freedom to opt for third party or TPFT plans with this insurer, too.


  • Lifetime warranty for car repairs
  • Courtesy car included
  • 24/7 roadside assistance available

Available plans: Third party, TPFT, comprehensive

Annual premium: Starting from $850

Promotions: N/A

8. HLAS Car Protect 360 – Best for Choosing Where to Get Your Car Repaired

Why it’s good: HLAS Car Protect 360 is the most sensible choice on the market if you want to be able to choose exactly who repairs your car in the event of an accident. That said, HLAS car insurance includes a wide range of other great benefits, too. You can enjoy up to $20,000 in personal accident cover, a $50 per day transport allowance, 24/7 roadside assistance and a bunch of great discounts on various car maintenance costs.


  • Ultimate flexibility to decide car repair locations
  • Discounts available on car servicing and paint protection
  • 24/7 roadside assistance coverage

Available plans: Comprehensive

Annual premium: Starting from $1,330

Promotions: N/A

9. Singtel Car Protect – Best for Comprehensive Coverage at a Sensible Price

Why it’s good: Purchasing car insurance is rarely a straightforward task, but Singtel makes the buying process super-straightforward. This increasingly popular insurance company also throws in a ton of great benefits with its Car Protect product, making Singtel a smart choice for sensible buyers who want good comprehensive coverage. While other insures don’t always include accident towing coverage, Singtel always does – and you get to rely on a 24/7 support team, too.


  • Competitive comprehensive coverage costs
  • Authorized drivers are insured for up to $50,000
  • Application process is incredibly easy

Available plans: 3x comprehensive plans available: Value, Essential and Premium

Annual premium: Starting from $765

Promotions: N/A

10. NTUC Income Drivo Electric Vehicle Insurance – Best for Electric Car Owner

Why it’s good: If you drive an electric car, it can be difficult to find well-priced, comprehensive auto insurance coverage in Singapore. While other insurers won’t offer electric car coverage at all, NTUC Income will insure up to eleven different EV companies, ranging from budget-conscious brands to luxury manufacturers like BMW and Audi – and at very affordable prices, too.


  • Choose from three different EV UBI plans
  • Prices can be pegged to EV mileage
  • Coverage available on 11x different EV brands

Available plans: 3x comprehensive plans available, with prices dependent on usage

Annual premium: Dependent on EV usage

Promotions: N/A

road accident involving multiple cars

How Are Car Insurance Premiums Calculated?

Auto insurance premiums are determined according to a number of different factors. Generally speaking, average premiums start at around $800, but the price you are quoted can be influenced by the likes of:

Car Owner’s Age

Young driver coverage is typically more costly than what experienced drivers might pay for their auto insurance.

Driving Experience

Similarly, the number of years you have been driving will have a big influence on premium costs, as will your level of NCD.

Car Brand/Model

More luxurious and sportier vehicle brands are likely to attract costlier premiums, too – so keep this in mind when shopping around.


Believe it or not, your profession or career can also influence auto insurance prices – with some professions deemed “riskier” than others from a driving perspective.

young scared man on driver seat

How Can You Get Cheap Premiums When Buying Car Insurance?

While certain unavoidable factors, such as those mentioned above, will affect your auto insurance costs regardless, there are a number of modifiable factors you can adjust yourself in a bid to reduce the cost of your premiums. Consider the following if you’d like to reduce the overall amount you’ll pay:

What Excess Are You Willing to Pay?

In the insurance industry, “excess” is the amount of money you’ll need to pay up front in the event of an accident or collision. If you opt for a higher excess, you’ll enjoy a cheaper premium at the point of purchasing your insurance, though you’ll need to fork out more up-front cash in the event of making a claim.

What Type of Policy Do You Require?

Fully comprehensive insurance policies offer the best coverage, but usually attract higher prices as a result. You can save money on the up-front cost of auto insurance by going for a third party or TPFT policy as an alternative but be wary that you won’t get to enjoy as broad coverage as you would with a comprehensive plan.

How Many Named Drivers are Needed?

“Named driver” refers to who will be listed as the main driver(s) of your vehicle for insurance purposes. Couples and families might wish to include multiple named drivers on their policies if several people will be using the same car, but this can often push up your policy’s cost. Consider shopping around for insurance policies that allow you to add multiple named drivers at a discount to save some extra cash.

What Repair Workshops Do You Wish to Use?

As we’ve already mentioned, the cheapest auto insurance plans usually get to dictate where your vehicle will be repaired in the event of a collision. Conversely, only top-end plans will offer ultimate freedom to choose your own workshop. Think carefully about whether this benefit is important to you and worth the additional premium cost.

Frequently Asked Questions (FAQs) About Car Insurance Plans

1. How Do I Make a Car Insurance Claim?

If you need to claim on your auto insurance, you’ll want to start by getting in touch with your insurer via phone ASAP once an accident occurs. Be sure to take as many photos of the damage as possible, swap contact information with any other drivers involved in the collision, and don’t move your car unless it’s absolutely necessary.

2. Is It Expensive to Cancel My Car Insurance Policy?

Cancelling an active insurance policy will usually entitle you to a refund that covers just a proportion of what you originally paid. Under most circumstances, you’ll be credited 70% of the unused portion of your insurance and lose the remaining 30% to admin and exit charges.

3. What Happens if I Make Modifications to My Car?

Whether you’re fitting a new pair of alloy rims or completely revamping the overall look of your car, you should always inform your insurer of any modifications made to your vehicle. A failure to do so could see any claims you attempt to put through rejected, so keep this in mind.

4. Should I Buy Auto Insurance Directly or Through a Broker?

Shopping around to get the best deal on any kind of insurance is always an excellent idea but purchasing directly from your preferred insurer once narrowing down your options will usually secure you the best price.

5. Can I Claim for Flood Damage and Other Natural Disasters?

Flash floods are common in Singapore and other “acts of God” aren’t necessarily unknown, either. In the event your car is damaged by a natural disaster or event, whether or not you can claim on your insurance depends entirely on your policy. Comprehensive insurance usually offers the best coverage, but always check the small print before buying.

6. Do I Need a Good Credit Score to Get Cheap Car Insurance?

As with any financial product purchase, your credit history is important when shopping around for car insurance and may affect the overall price that you’ll pay. That said, credit checks on car insurance purchases are usually a little lighter than with other financial products.

7. What Should I Do If I Sell My Car?

If you decide to sell your car, you have two options: you can cancel your existing car insurance policy and receive a partial refund, or you can keep the policy running and change it to cover your new car if you intend on getting a replacement.

8. What Does Car Insurance Typically Cover?

As we’ve discussed throughout this article, there are different types of car insurance products on the market that offer varying levels of coverage. As a bare minimum, you must take out third party insurance that covers third party damage in the event of a collision or accident. If you require more coverage, a comprehensive policy can better protect you against any financial losses that may arise.

9. What is the Best Way to Compare Car Insurance?

The best way to compare car insurance in Singapore is to shop around online. Take note of prices, coverage details and additional perks, then weigh insurers alongside each other to determine who is offering the best possible deal.

Conclusion – Which Comprehensive Car Insurance Plans Are Best?

Finding the right auto insurance for you will almost always mean shopping around – but first, you need to think carefully about your unique needs and circumstances. Securing the right price is important, and shopping around and making adjustments can greatly help you to do so. But above all else, you’re going to want to purchase a policy that offers all the essential coverage you need.

Key Takeaways

  • There are three types of car insurance policies on the Singaporean market – third party, TPFT and comprehensive.
  • Playing around with excess costs, named drivers and types of policy can help you to secure a lower premium cost – but you shouldn’t overlook your core needs.
  • Longer standing insurance companies will usually have a better reputation in the field but might demand higher premiums for this reason.
  • Ultimately, carefully determining your unique needs and comparing the market will help you to find the most appropriate and affordable policy.

Loan Advisor specializes in sharing the latest financial news and connecting Singaporeans with competitive loan quotes from licensed moneylenders. Contact us or fill out the quick form to request your free loan quotes.

Table of Contents

Looking For An Urgent Personal Loan?

Submit your details and receive up to 3 loan quotes from best Licensed Money Lenders picked by Loan Advisor
  • Hidden
  • This field is for validation purposes and should be left unchanged.