Lifestyle

5 Best Comprehensive Coverage Motor Insurance Plans In Singapore

April 18, 2022
Best Comprehensive Coverage Motor Insurance Singapore

Any vehicle owner in Singapore is required to have a comprehensive coverage motor insurance plan to protect the insured vehicle against its own damages and third-party liabilities. Also known as “own-damage” or “other than collision” motor insurance, it helps a vehicle owner save money on losses that a collision might cause. In short, a comprehensive coverage motor insurance plan will protect car owners from any unforeseen incidents, such as fire, theft, road accident, or natural calamity.

A comprehensive coverage motor insurance plan is considered the highest level of protection you can give your car. Even if you are found to be at fault during an accident, you can still claim for losses you incur during the incident. It also covers the lawsuits, including the legal fees you may incur after an accident. A comprehensive coverage motor insurance policy does not cover depreciation, wear and tear of the vehicle, damages sustained after driving under the influence of alcohol or drugs, damages to tubes or tyres, and loss/damages caused by nuclear risk, war or mutiny.

Take a look at the five best companies that offer comprehensive coverage motor insurance plans in Singapore.

Note: This list is strictly not in order.

1. India International Insurance

Image Credit: India International Insurance

India International Insurance was incorporated in Singapore in 1987, merging five state-owned insurance companies in India. Before the company was established in the country, it had over 70 years of experience as a pioneer in insurance. The company takes pride in having robust financial stability with a strength rating of A by Standard & Poor’s, an American credit rating agency and division that reports financial research and analysis on stocks, commodities, and bonds.

India International Insurance has over 100 trained and experienced personnel, offering innovative risk management solutions at a reasonable cost. Aside from that, they are committed to making a constant and consistent effort to continue being one of the best providers of comprehensive coverage motor insurance in Singapore. They are also dedicated to providing premier services to all clients, especially when it comes to making underwriting and claims decisions as promptly and locally as possible.

Customer Reviews

Berenice

Highly professional and responsive.

Rajul Bhuyan

Professional per excellence. Very supportive team.

Website: https://www.iii.com.sg/motor-insurance
Contact: +65 6347 6100
Location: IOB Building, 64 Cecil Street, #04 – #05, Singapore 049711
Opening Hours: Mon-Fri 8.30AM-5.30PM

2. Budget Direct Insurance

Image Credit: Budget Direct Insurance

According to Budget Direct Insurance’s website, they offer the cheapest comprehensive coverage motor insurance in Singapore. In fact, clients can save up to 20% when they take out an insurance plan from them. Budget Direct Insurance may offer some of the most affordable insurance plans in the region, but they guarantee that they don’t compromise on service or coverage. They are able to keep their premiums low because clients won’t have to deal with a middleman.

Budget Direct Insurance is licensed and regulated by the Monetary Authority of Singapore (MAS), which means that they comply with their requirements and regulations for insurers. The company is also a part of an international insurance group that provides top-quality insurance solutions to millions of policyholders around the world. All clients will have a dedicated claims executive to help you from start to finish, making your claim simpler and faster. Plus, they are also an award-winning company for consistently delivering excellence.

Customer Reviews

Jenny H

Enquired the car insurance through Daniel who served very professionally, with great attention to detail and no pressure to transact. The whole process was simple, convenient and quick. A very happy shopping experience.

Lina Dimple

Been their customer even before car’s COE renewal.

The lowest premium than other insurers even after adding other additional coverage.

Website: https://www.budgetdirect.com.sg/car-insurance/comprehensive
Contact: +65 6221 2111
Location: Singapore Shopping Centre, 190 Clemenceau Avenue, #03-01, Singapore 239924
Opening Hours: Mon-Fri 9AM-5PM

3. DirectAsia Insurance

Image Credit: DirectAsia Insurance

DirectAsia Insurance was launched in Singapore in 2010. Since the beginning, it has been the company’s goal to change the face of insurance in the country and the rest of Asia. This is because insurers believe insurers can do a much better job providing insurance solutions to all clients. Because of this, they have always been passionate about making insurance more straightforward by ensuring fast and convenient online application, jargon-free choices with transparent pricing, and direct access to and control over their insurance plans.

Starting in 2014, DirectAsia has been owned by Hiscox, a global insurer with over 100 years of experience in insurance. Aside from that, they are a fully licensed and MAS-registered insurance company that is also a member of the PPF Scheme, administered by the Singapore Deposit Insurance Corporation (SDIC) and aims to protect policyholders’ interests. You can rest assured that they are one of the best providers of comprehensive coverage motor insurance policies in Singapore.

Customer Reviews

Jeremy Han

Jenica Chong was friendly and was able to answer all my queries. She was effective and efficient, and on the day of call, the insurance was done and sent to my email straight away.

Kai Seng

Buying car insurance has never been this easy and economical. Best price in town.

Website: https://www.directasia.com/car-insurance
Contact: +65 6603 3699
Location: 20 Anson Road, #08-01, Singapore 079912
Opening Hours: Mon-Fri 8AM-6PM

4. Accord Insurance Agency

Image Credit: Accord Insurance Agency

Accord Insurance Agency is one of Singapore’s most trusted and professional providers of comprehensive coverage motor insurance policies. They specialize in offering insurance solutions to individuals and corporations throughout the country. Because of their strategic partnerships, they are able to provide clients with lower premiums and tailored services at all times. Aside from that, they have partnered with some of the biggest insurance firms within the country, ensuring that you’ll find the specific insurance product that suits your needs best.

It is the company’s goal to make the lives of its clients easier. Moreover, they want to give each policyholder peace of mind wherever they are. They offer some of the best quotes for your comprehensive coverage motor insurance plan. With Accord Insurance Agency, you won’t need to worry about anything because they will take good care of you from start to finish.

Customer Reviews

Veronica Low

Oliver was recommended by my uncle and since then, they have been my preferred car insurance company for nearly ten years. Oliver and his team are very efficient and responsive to my queries. They source the best quotes for my car insurance and I never have to worry. He’s just a call away when I needed help pertaining to my car insurance. Highly recommended!!

Leia Low

I’ve been using Accord Insurance since my friend recommended to me in 2019. Renewal is hassle free, lowest rate and also loyalty bonus reduction rate. It’s convenient and no trouble at all. Thank you and keep it up Oliver and team. Keep up the good work.

Website: https://www.accordinsurance.com.sg/cheap-vehicle-car-insurance/
Contact: +65 6469 3922
Location: Midview City, 18 Sin Ming Lane, #05-13, Singapore 573960
Opening Hours: Mon-Fri 9AM-7PM | Sat 9AM-2PM

5. SGDrivers

Image Credit: SGDrivers

With SGDrivers, you can be sure that they’ve got you covered. To them, insurance matters a lot. This is why they are one of the most trusted insurers when it comes to the best comprehensive coverage motor insurance plans in Singapore. They offer comprehensive coverage for your investments with the help of the most professional and highly trained consultants who can advise, evaluate, and recommend the most suitable plan for your needs.

At SGDrivers, they always make sure that they have their clients’ interests at heart. They believe that all drivers should have adequate protection and coverage against any unforeseen circumstances, especially during a road accident. This is why they are committed to providing the best and most comprehensive coverage motor insurance plans in Singapore at reasonable prices. Aside from vehicle insurance, they also offer coverage for travel, foreign worker, work injury, public liability and fire, and maids.

Customer Reviews

Edwin Mong

Lorenzo and his team offers the best end to end service for my car insurance. Ensure I won’t miss the expiry date for insurance, inspection and road tax. Even if I made last min request for quotations and need then

William Poh

Mr Lorenzo from SGDrivers responded promptly to my enquiries and was very helpful. For example, when I faced a car accident, he responded almost immediately and recommended a good car workshop. I am impressed by his professionalism and satisfied with his service.

Website: https://www.sgdrivers.com.sg/insurance/
Contact: +65 6100 1967
Location: 170Upper Bukit Timah Road, Bukit Timah Shopping Centre, #15-02, Singapore 588179
Opening Hours: Mon-Fri 9.30AM-6.30PM

Conclusion

In the event of a vehicular accident and your vehicle endures damages, an insurance claim may not be possible unless you have a comprehensive coverage motor insurance policy. Because of this, you have to make sure that you take out an insurance plan from an experienced and trusted company, which includes the five best providers of comprehensive coverage motor insurance plans in Singapore.

 

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