Compare Singapore's Best Car Insurance Quotes Online And Save Up To $620*

Searching for the best car insurance in Singapore does not have to be a hassle anymore.

At MoneySmart, we help you compare car insurance quotes online from our comprehensive list of car insurance partners.

MoneySmart Financial is a MAS Licensed General Insurance Broker partnering with a list of 10 different insurance partners.

Get the best
Car Insurance Quotes In Singapore With 3 Easy Steps!


Provide us with your car details.

We'll ask you for details about your car (make, model, etc) so we know exactly what car insurance you need.


Compare car insurance quotes.

View a comparison of the best car insurance quotes based on price and features (NCD protection, personal accident coverage, medical excess etc).


Get covered!

Click to apply for the best car insurance policy that suits your needs. Or, call our specialists for advice on the cheapest or most comprehensive policies.

Car Insurance Policy
Has The Best Coverage?

No idea which insurer will give you the car insurance coverage you need? Policies and premiums may differ depending on the type of coverage you require. Here's some information to get you started.


What type of insurance coverage is important to you?

Cheap & Basic Coverage
Insurers you might want to consider
Roadside Assistance
Most Extensive Coverage
Customisable Car Insurance Plan
No-Claim Discount (NCD) Protector

Insurers you might want to consider


How To Get The Cheapest Car Insurance Premiums

3 tips to lower your car insurance premiums.

  1. Don't auto-renew your car insurance.

    Over a third of drivers in Singapore lose out on potential savings with their car insurance premiums due to auto-renewals with their current provider. As an existing policy holder, you may not always be given the best premiums for the next year of coverage. Don't make the mistake of feeling pressured to auto-renew car insurance due to lack of information or time.

  2. Compare at least 3 car insurance quotes.

    Our car insurance study* revealed that MoneySmart customers can save up to $620 on their annual premiums when they compare car insurance quotes before purchasing a policy. Insurance providers focus on different coverage benefits, so compare the various quotes based on the coverage you need and the premium it will cost.

  3. Increase your policy excess.

    You can pay a lower premium by increasing the insurance excess on your policy. The excess is basically the amount of money you have to fork our from your own pocket before the insurance provider will cover the rest of the cost, in the event of an accident. Your policy quote will have a standard excess amount stipulated as a requirement, and you can offer to increase that amount of excess for a lower premium.

Car Insurance 101

What you need to know.

If you own a car in Singapore, car insurance or motor insurance is compulsory but doesn’t come cheap.

Our free car insurance calculator will help you find the best and cheapest price on the market.


What exactly does car insurance cover?

Good on you for asking this! Most Singaporeans buy car insurance just because it's compulsory here, without even knowing what it covers.

When you own a car, dangers lurk around every corner. Apart from the ever-present threat of a car accident, your car may be stolen by car thieves, even burnt in a fire. As most car owners would know, repairing such extensive damage can be extremely expensive.

Car insurance is meant to cover such scenarios. You pay an annual premium for the assurance that the insurer will foot most of your car repair workshop bill if these things happen.

Another potential cost for that car drivers seldom think about is a financial liability to third parties.

Put simply, if you get into an accident and are sued for damage to another person or their property, car insurance will pay out some or all of the bill.

What types of car insurance are there?

There are three main types of car insurance in Singapore.

Comprehensive car insurance: As the name suggests, this type of car insurance covers almost everything, including your own car's repairs and replacement costs. It is the most common car insurance type in Singapore, which is understandable considering how expensive cars are here.

Third Party Only (TPO) car insurance: This is the cheapest and most basic type that covers ONLY damage to other people or their property. If anything happens to your own car, you will have to foot the bill yourself. This is generally recommended for really old cars that are at the end of their COE lifespan, because you might actually consider scrapping the car instead of repairing it.

Third Party, Fire & Theft (TPFT) car insurance: This is a slightly upgraded version of TPO car insurance. The same features apply, except TPFT also covers loss, theft and fire damage to your car. It offers slightly more protection, but it’s still an option that is generally reserved for owners of older cars.

How are car insurance premiums calculated?

Insurance premiums are based on risk, so, ultimately, it all depends on your personal profile and the car you drive. How much risk will the insurer take on if it agrees to cover your future expenses?

The insurer will decide how much to charge you by looking at a host of factors, such as your age, driving experience, claims history, car make and model, your occupation, and even your marital status.

Don't be too offended if you get quoted a remarkably high premium. This can happen sometimes due to statistics associated with your car or profile, no matter how good a driver you are. Insurers measure risk differently, so take the opportunity to shop around for more quotes.

What is "excess" and how does it impact my premium?

Car insurance policies are extremely customisable in that you can always lower the cost of your insurance premium by increasing this thing called the "excess". This refers to the amount you need to pay out of pocket before you can make a claim from the insurance company.

As a benchmark, most insurers in Singapore generate quotes based on a $500 or $600 excess. So you can take this as the average amount that car drivers are willing to pay out of pocket.

Both excess and premiums are costs to YOU, so when obtaining car insurance quotes, you should look at both in tandem. Sure, you can get a cheap premium if you opt for a high excess, but do you really want to pay $2,000 in cash if you get into a collision? Probably not.

Does choice of workshop matter?

Most car insurers also allow you to customise your plan by choosing between "authorised workshops" and "any workshop". This refers to which workshops you can send your car to and still be covered by your car insurance.

It is always cheaper to go for the "authorised workshops" version because the insurer already has a list of workshops that it knows are affordable.

On the other hand, if you want the freedom to go to any workshop of your choice, the insurer has no way of making sure that it won't overcharge, so you will have to pay more for that privilege.

If your car is still new and under warranty, you will probably want to pay more for the "any workshop" plan, because if you do not go back to your car dealer's workshop, your warranty may be considered void.

For not-so-fussy owners of older cars, opting for "authorised workshops" is usually a lot cheaper. Just make sure that the insurer's list of workshops is actually reasonable so you don't have to drive across the island to get your car repaired.

What People Are Saying About MoneySmart


Meet Our Team

We get you the best car insurance in Singapore.

With an average of 10 years’ experience in the insurance and customer service industry, rest assured that our friendly specialists will provide you with the best car insurance deal in the market.


Chris Lee

General Insurance Lead


Joseph Lam

General Insurance Specialist


Nurul Jahari

General Insurance Specialist


Huda Diah

General Insurance Specialist


Esmond Tay

General Insurance Specialist

Frequently Asked Questions

What is excess? Should I increase or decrease it?

An excess is the amount you have to pay from your own pocket before the insurer pays you for the coverage you have.

Most insurers quote for an excess of $500 or $600 by default, but you can always choose a higher excess in exchange for a cheaper premium. However, be warned that you will have to pay more upfront if you get into an accident.

Ultimately, you need to strike a balance between the two costs - so that you are neither overpaying for insurance, nor will an accident render you penniless.

What does "Any vs. Authorised Workshop" mean?

"Authorised workshops" are a list of workshops that your insurer has approved. You can get a cheaper rate if you don't mind being restricted to authorised workshops only, though be sure to check that the list does give you sufficient options. People who choose this usually drive older cars or second-hand cars that are no longer under warranty.

"Any workshop" means you can go to any workshop of your choice, but this will mean a higher premium on your car insurance. If your car is still under warranty, you may have to opt for this in order to send your car to your dealer's workshop. Otherwise, your dealer may decide that your warranty is void.

What’s the difference between named & unnamed drivers?

"Named drivers" means that you have explicitly and contractually stated on the insurance who you want to be covered. Other than yourself, this should also include regular users of the car, for example, your spouse.

"Unnamed drivers" just refers to drivers who are not on it. They can still drive the car, but if they get your car in an accident, the insurer will cover significantly less of the damage.

You can always add more named drivers for maximum protection, but it will cost you more, especially if you name someone who is a young and inexperienced driver.

What is No-Claim Discount (NCD) and NCD Protector?

For every year that you've driven and didn't have to make a claim, you get a 10% discount on the following year's premium. You can accumulate your No Claim Discount (NCD) up to a maximum of 50%, i.e. after 5 claim-free years.

Getting a 50% discount on your premium sounds great, but remember that the car insurance company can always increase the quoted premium, rendering your discount ineffective. Sneaky. So no matter what, don't just auto-renew - you should still compare quotes anyway.

But what if you make an insurance claim? Under normal circumstances, the discount drops by 30% (from 50% to 20%, for example). That's why most insurers also offer what's called an "NCD Protector" as a paid add-on to your car insurance policy. This allows you to make one claim without affecting your NCD.

How do I make a car insurance claim?

Different insurers have different processes on how to make a claim, however, but in general, these are the steps::
  1. Don’t move your car unless absolutely necessary.
  2. Call your insurer's hotline for assistance.
  3. Take (lots of) photos of the accident.
  4. Get the other driver's contact details.
  5. Get your car fixed at an authorized workshop.

If you are a relatively inexperienced driver, you might want to opt for a car insurance company that is better known for its roadside assistance. For example, NTUC Income has a fleet of assistance riders who will come down to the site of your accident and walk you through every step of the way.

What happens if I cancel my car insurance policy?

Check the terms and conditions of your existing car insurance policy to find out what happens if you cancel it. Generally, if you cancel it before it is time to renew, the insurer will pocket about 30% of the unused portion of your insurance, leaving only about 70% as a refund for you.

If you can, wait until your car insurance is up for renewal. Then you'll have the freedom to switch to any insurer you like without any penalty.

By the way, you may not always be the one walking away from a car insurance policy. There are also situations where your insurer might decide to drop you (sometimes with no refund at all) if they think there's foul play or illegal modifications going on.

Why choose MoneySmart financial for your car insurance?

More choice.
We're comprehensive and convenient.
MoneySmart financial is partnered with 10 insurance providers in Singapore. But finding the best policy can be difficult and extremely tedious, especially with so many insurers out there. We do the heavy lifting for you by finding the best quotes and making the application process as fuss-free as possible.

No paperwork.
We Help You Make it Happen.
Your car insurance journey doesn't end after you buy your policy. MoneySmart financial will ensure that we follow you along that journey, especially when it comes to the most painful part of all - claims.
Our general insurance specialists will help ensure your claims are processed and help you to renew your policy every year. We help make it happen so that you can drive without worry.

Claims support.
We're determined to find what's best for you.
Every year when you have to renew your policy, we'll help you get better service, coverage and help you save on your car insurance premiums.
Because we work with 12 of the biggest car insurance providers in Singapore, you can rest assured we'll do our best to find you the best policy available.

MoneySmart's Participating Insurers


Disclaimer:* is an insurance comparison platform that helps you discover the best insurance quotes from multiple insurers according to your needs. MoneySmart Financial is a licensed Broker governed by the Monetary Authority of Singapore. We set out to carefully provide you assistance regarding any General Insurance related advice or purchase.