Price Of Comprehensive Car Insurance – We’ve looked at hundreds of car insurance benefits and perks from dozens of insurers in Singapore to find out which plans will provide your family with the best value for money. Compare and shop from our best options based on your budget, the size of your household and the type of coverage you need.
While it can be tempting to look for the cheapest car insurance possible, you want to make sure you have enough protection to protect not only yourself, but your children as well. These auto insurance plans are affordable for any budget, minimize out-of-pocket costs and protect everyone in your family.
Price Of Comprehensive Car Insurance
If your family unit consists of adults (ie two married couples living with elderly relatives), Budget Direct car insurance can be a good choice not only for its unbeatable premiums, but also for the coverage and types of plans it offers. When looking at quotes, we found that Direct Finance provider premiums are 40% cheaper than the average for married couples.
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Budget Direct offers two driver plans to choose from: the Named Driver Plan and the Authorized Driver Plan. The named driver plan only includes the primary driver and persons named as drivers. An Authorized Driver policy covers the policyholder, the principal driver (if not the policyholder) and anyone else who drives your vehicle. Although the Authorized Driver policy is 15% more expensive, your premiums will still be the cheapest on the market and can benefit you if your car is shared by many family members.
One downside to Budget Direct is basic coverage, so we recommend it to experienced, safe drivers who don’t need to protect young passengers and don’t require comprehensive medical, accident or substance coverage. Budget Direct mainly offers cover for damage to your car, trailer and third-party damage, so if you want medical, personal accident, accessories or roadside assistance cover, you’ll pay an extra fee.
If you’re looking to maximize protection for your family, the Classic FWD plan offers competitive premiums and solid accident coverage. Premiums for a married policyholder are 15-25% cheaper than average and you can choose the standard excess as per your comfort level and budget. Also, if you have no reason for the 50% discount, I will help you throughout your 50% NCD guarantee.
If you want to protect young drivers, you can also choose to waive the New/Inexperienced Driver Surcharge (YIDR) of S$2,500. While this will increase your premium slightly, it can save you about $2,000 out of pocket if your child has an accident while driving your car. Plus, you don’t need to name your drivers – FWD will ensure that whoever drives your car at no extra cost.
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The FWD Classic cover includes medical cover of S$1,000 per passenger, a one-time driver and passenger premium for death or permanent disability and a lump sum payment of S$250,000 in the unfortunate event that your children are left behind. in your These benefits are added to the coverage of the costs of towing, temporary transport and accessories of the car. The only downside is that the cover is for child car seats, so if you have kids who need it, you’ll have to pay out of pocket for any damage. However, for a price increase of about 15%, you can opt for the Executive FWD plan, which adds $1,000 of personal items coverage and free car replacement for up to three months if your car is totaled, good value for offer protection and protection. . advantage
If you have children, Aviva’s comprehensive car insurance plan may be a good fit as it offers affordable family cover. We found their premiums for marriage counselors to be about average compared to other top-tier comprehensive plans, so while it’s not the cheapest plan on the market, it offers family benefits rarely seen with other insurers. This includes a car replacement benefit for cars up to 24 months old, a child/inexperienced driver excess driver exemption and a S$250 child seat benefit among a host of extras.
In addition, Aviva offers many benefits for peace of mind, including an accident repair service to help you in the event of an accident, free transport services to get you home after an accident, 24/7 roadside assistance, and medical and personal accident coverage. Another convenient benefit is Aviva’s dual plan option, which saves you an extra 5% on your premium. Overall, Aviva is an excellent choice for new families expecting their first child or families with several children due to its extensive family coverage.
If you own multiple cars or your family car is a luxury vehicle, you’ll benefit to the full with Direct Asia’s competitive pricing, customizable coverage and a 10% premium discount on your second car. We found the Asia Direct value plan to be one of the cheapest options for experienced drivers of luxury vehicles such as BMW, Audi or Mercedes, with premiums around 20% below average. It’s also one of the cheapest policies on the market for new drivers who have just bought a luxury car, with premiums that are 16% below the average driver with 0% off the sale price.
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Since fewer people are likely to trust your expensive car, save yourself money by limiting the number of additional named drivers to 4, of which two drivers can be minors (under 30). Also, unlike most policies that give you the option to store your car for twelve months, Asia Direct offers the option to extend this period to 24 months, providing great peace of mind to luxury car owners.
In terms of coverage, Direct Asia has comprehensive accident and damage coverage, which protects you from everything such as fire or vandalism, floods and natural disasters. It also offers various features that you can add to your plan to make your plan fit your needs. If you’re already confident, you can choose to authorize any workshop for repairs, add protection for driving outside Singapore and personal accident protection of up to S$500,000. You can add coverage for accessories, medical expenses and loss of use.
To find the best car insurance for families, we’ve compiled data from 12 car rental companies in Singapore and premium rates for married men and women over 45. A common pattern we’ve seen is that if you’re married, you’ll see lower premiums on your policy than if you’re single. We also found that when married men saw higher premiums than single women, the price discrepancy was smaller with the single policy. The plans are then divided which will be similar in benefits offered to the relevant plans for different family members. However, keep in mind that your premiums may vary depending on your age, driving experience, car make and number of people you want to insure.
Anastassia is a senior research analyst in Singapore, evaluating consumer insurance policies based on quantitative and qualitative financial analysis. Degree in Economics and International Business Management and his previous work experience includes work in the capital markets sector. His analysis covers insurance, healthcare, international business and personal finance in AsiaOne, Business Insider, DW, Vice, Her World, Asia Insurance Review, the Australian Institute of International Business and more.
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Update: If you’re looking for a current estimate of car insurance prices and trends in Australia, check out the 2020 Car Insurance Report.
For the 2019 awards, our team of experts analyzed 61 categories, ran more than 10,000 different missions and polled around four.
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