In a bustling metropolis like Singapore, where vehicle ownership is a significant investment and road safety is a collective priority, car insurance is not merely a regulatory requirement—it is an essential form of financial protection. With a diverse range of insurers offering tailored products for private cars, electric vehicles (EVs), and even luxury imports, the motor insurance landscape in 2025 has evolved to become more competitive, customer-centric, and tech-integrated than ever before.
This article takes an in-depth look at the best car insurance companies in Singapore for 2025, examining their strengths, coverage features, premiums, digital platforms, and customer service reputation. Whether you’re a first-time buyer or considering switching providers, this guide will help you navigate your choices with clarity and confidence.
What Makes a Car Insurance Company the ‘Best’?
The term ‘best’ is inherently subjective, as the ideal policy varies depending on the driver’s needs. However, we have used several key criteria to identify top-tier insurers:
- Comprehensive coverage options
- Affordability of premiums and excesses
- Claims experience and speed of settlement
- Digital tools and user-friendliness
- Customer satisfaction and service
- EV and sustainability initiatives
1. FWD Singapore – The Best for Hassle-Free Digital Experience
Why It Stands Out:
FWD has quickly gained market share in Singapore by offering a fully digital, seamless experience. With an emphasis on ease of purchase and quick claims approval, it appeals especially to tech-savvy younger drivers.
Key Features:
- 24/7 claims assistance through their app
- Option for on-the-spot repair approvals
- Lifetime NCD guarantee (at an additional cost)
- Complimentary courtesy car with comprehensive plans
- High trust ratings for transparency
Premium Range (2025): From ~$650/year for a Toyota Altis (Comprehensive Plan)
Who It’s For: Drivers looking for an affordable, no-frills digital insurer with strong customer support and fast payouts.
2. Income Insurance – The Reliable Household Name
Why It Stands Out:
As a leading general insurer in Singapore for decades, Income Insurance (formerly NTUC Income) offers a time-tested balance of cost, service, and coverage options. Their car insurance plans are popular among families and mature drivers.
Key Features:
- Option for flexible excess amounts
- No Claim Discount (NCD) Protector available
- Coverage for flood damage and personal accident
- Authorised workshops and 24/7 assistance
- Repair satisfaction guarantee
Premium Range (2025): Around ~$700–$850/year for standard sedans
Who It’s For: Families and conservative drivers who value stability and comprehensive protection.
3. Singlife with Aviva – Customisation and NCD Enhancements
Why It Stands Out:
Singlife has made a significant leap in 2025 by integrating smart pricing algorithms and a revamped mobile app. Their car insurance is particularly known for offering customisable options and strong NCD benefits.
Key Features:
- NCD Protector Plus: Prevents NCD drop even with multiple claims
- Custom add-ons such as overseas coverage (for Malaysia & Thailand)
- Telematics integration for safe drivers
- Emergency roadside services with selected plans
Premium Range (2025): Starting from ~$680/year, depending on add-ons
Who It’s For: Drivers who want to tailor their coverage and value strong loyalty rewards.
4. DirectAsia – The Value Champion
Why It Stands Out:
DirectAsia remains a favourite for cost-conscious consumers in 2025, continuing to offer low premiums and the flexibility to choose what you need—and skip what you don’t.
Key Features:
- Named driver or any driver options
- Choice of own workshop or panel workshop
- Optional 24-month new-for-old replacement vehicle cover
- Optional car rental benefit while your vehicle is under repair
Premium Range (2025): From ~$600/year (depending on customisation)
Who It’s For: Budget-conscious drivers and expats who want clarity and control.
5. Budget Direct Insurance – The Affordable Disruptor
Why It Stands Out:
Living up to its name, Budget Direct is known for undercutting the competition while still delivering decent coverage. The digital-first approach and à la carte pricing model make it attractive in 2025, especially with COE prices still fluctuating.
Key Features:
- Custom-built plans with optional add-ons
- 24/7 emergency support
- Fast online claims tracking
- Discounts for low mileage drivers
Premium Range (2025): As low as ~$580/year for selected vehicles
Who It’s For: Savvy, low-risk drivers seeking minimal cover at maximum savings.
6. Sompo Insurance – Known for Customer Care
Why It Stands Out:
Backed by a strong Japanese heritage, Sompo’s focus on customer-centric service and claim integrity has earned it a loyal base. Their “Drivewise” programme rewards safe driving, and in 2025, they have added enhanced EV coverage.
Key Features:
- Comprehensive EV-specific plans
- Up to 50% NCD with protector add-on
- Coverage includes riots, strikes, natural disasters
- Free towing and roadside help (including in Malaysia)
Premium Range (2025): ~$750–$950/year for full coverage
Who It’s For: Discerning drivers who value responsive service and EV options.
7. MSIG Singapore – Trusted for Extensive Coverage
Why It Stands Out:
MSIG has long been favoured for its detailed coverage and dependable customer service. The 2025 edition of its car insurance features further enhancements for accident forgiveness and green vehicle support.
Key Features:
- Green car benefits: reduced premiums for hybrids/EVs
- Personal accident and medical expenses cover
- Wide authorisation for workshops
- Fast-track claims settlement
Premium Range (2025): ~$700–$950/year depending on vehicle type
Who It’s For: Mid- to high-tier vehicle owners looking for holistic coverage.
Emerging Trends in Car Insurance (2025)
1. Electric Vehicle (EV) Specific Plans
With the LTA’s push for full electrification by 2040, insurers now provide EV-specific coverage that includes battery replacement, charging cable theft, and extended towing.
Top providers with EV benefits: Sompo, MSIG, Singlife, FWD
2. Telematics and Usage-Based Insurance (UBI)
Smart driving habits now translate into tangible savings. Telematics apps track mileage, speed, braking, and cornering. Safe drivers earn cashback or discounts.
Leading UBI insurers: Singlife, FWD, Income Insurance
3. Green Incentives and Sustainable Motoring
Insurers are offering premium rebates and lower carbon coverage incentives for drivers who switch to hybrids or EVs. MSIG’s eco-premium discount is one such initiative.
Comparative Table: Snapshot of Key Players (2025)
| Insurer | Best For | Starting Premium | Unique Features |
|---|---|---|---|
| FWD Singapore | Digital-native drivers | ~$650/year | Lifetime NCD, on-the-spot repair approvals |
| Income Insurance | Families and older drivers | ~$700/year | Reliable service, flood & PA cover |
| Singlife | Customisation lovers | ~$680/year | Enhanced NCD, Telematics |
| DirectAsia | Budget flexibility | ~$600/year | Customisable benefits, named/any driver |
| Budget Direct | Low-cost seekers | ~$580/year | A la carte pricing, low mileage discounts |
| Sompo | Service and EV owners | ~$750/year | EV support, regional roadside help |
| MSIG | Comprehensive and green cover | ~$700/year | Eco incentives, PA cover, disaster protection |
How to Choose the Right Insurer
When deciding on the best car insurance policy, consider the following steps:
- Define Your Needs: Are you insuring a new car, an EV, or a second-hand model? Do you drive frequently or rarely?
- Compare Beyond Premiums: Look at excess amounts, coverage inclusions, and added benefits such as roadside assistance.
- Read Reviews and Ask Around: Real-world claims experience often tells you more than fine print.
- Check Panel Workshops: If you’re particular about where your car gets repaired, ensure your preferred workshop is on the insurer’s list.
- Bundle if Possible: Some providers offer discounts if you bundle with home or travel insurance.
Final Thoughts
Singapore’s car insurance industry in 2025 has matured into a highly customisable, digitised, and consumer-focused space. Whether you prioritise low cost, digital convenience, EV compatibility, or superior customer support, there’s likely a policy tailored for you. As the push toward greener transport and smarter roads continues, so too will the innovation within the insurance sector. Taking the time to assess your needs and compare plans will not only protect your car—it will also protect your wallet and peace of mind.
