Insurance Companies – After collecting thousands of data points from insurance companies in Singapore, our team was able to gain a clear view of insurers that consistently deliver results that outperform the competition. These companies offer attractive premiums, great benefits and are well rated by us and their customers. Below is a list of the clear winners in the insurance market by category
General insurance is a term for policies such as travel, home, auto and domestic workers insurance Its main function is to provide financial protection against the risks that may occur in everyday life, such as getting into a car accident or having your home burglarized. In Singapore, most general insurances allow you to buy this product without going through a financial advisor Overall, FWD, Aviva & Etiqa are the 3 best rated general insurance companies from us for competitive rates and high quality insurance services.
The best travel insurers in Singapore are Allianz, FWD and Aviva They offer great value for money with competitive rates (11-37% cheaper than average for most travel), comprehensive coverage and an easy purchase and claim process. They all offer single trip and annual travel coverage and 24/7 emergency assistance services
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Allianz offers travel insurance plans that are 31% cheaper on average and are packed with hassle and health benefits. For example, Allianz offers moderate coverage limits for loss/damage of checked and unchecked baggage, loss of credit cards and travel documents, travel delays, trip interruptions and cancellations. For medical coverage, Allianz offers everything from emergency hospital coverage to more benefits such as pregnancy coverage and hospital compensation. If you buy the gold plan, you will have unlimited emergency medical coverage, a rare feature among travel insurance plans.
FWD is one of the top travel insurers because of its competitive rates (37% cheaper than the industry average) and customizable features. FWD’s coverage limits are generally higher than average, making the insurance plan a great value for money. Emergency medical transfers are unlimited, which is an important feature as transfers are expensive Sports equipment and sports activities are also covered, so you can have peace of mind if you want to do something new during your trip. Finally, FWD offers a free policy extension of up to 21 days to be covered if you are hospitalized or delayed due to a major public event.
Aviva’s combination of attractive rates and generous coverage certainly makes it one of the best travel providers in Singapore. Aviva offers unlimited medical cover and covers travel cancellations and travel date changes for any reason, making the Aviva plan a steal at the price. In general, we found an average of 11% cheaper than its competitors and the MINDEF/MHA service pays less than Aviva’s price giving a 30% discount. Plus, Aviva is one of the less restrictive companies and offers coverage for a lot of things you might not know you need, like frequent flyer points, weddings, winter/water sports and motorcycles. .
The best car insurers are Budget Direct, FWD and Aviva They offer comprehensive coverage for an attractive premium and can be a good fit for all types of drivers
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Budget Direct makes our list for its lowest prices and simple, no-nonsense coverage. A good choice for experienced drivers who have reliable driving experience and don’t need a variety of benefits. Our rates are among the lowest we’ve seen in the market, with premiums 30% below the industry average. Although Budget Direct doesn’t have many benefits in its basic plan, it does offer them as extras. This is an important feature because it allows you to customize your plan based on your budget and coverage needs. Budget Direct also offers 24/7 claims support, so you’ll have someone to guide you through the process when needed.
FWD is one of the best car insurance companies in Singapore for its competitive rates and comprehensive coverage. Although the average is 19% lower for most drivers, the FWD plan offers something for everyone – customers on a budget prefer customers on the lowest price on the Classic plan, while drivers looking to increase coverage will be pleasantly surprised by the Prestige plan. You can also waive the young and inexperienced driver’s tuition fee, which can save you S$1,500 in out-of-pocket expenses. FWD’s Third Party, Fire & Theft and Third Party Only plans are very competitive and offer more benefits like towing and roadside assistance than the standard TPFT and TPO plans in the market. Finally, insured drivers with 50% NCD can save big by sticking to FWD The benefit of the 50% NCD Lifetime Guarantee allows you to keep it for as long as there is a fault regardless of the risk.
Aviva’s car insurance plan is a good choice for average drivers, but it’s especially good for families and young drivers (under 30). On average, Aviva car insurance prices are 19% cheaper than their competitors, young drivers can get Aviva prices 45% cheaper than the competition for their age group. However, Aviva’s attractive pricing model does not mean that it is focused on profit. Instead, even families with small children will find the Avava car insurance plan to provide enough peace of mind. . For example, there is child seat coverage, unlimited auto parts coverage and natural disaster coverage. Roadside rescue, towing and local accident reporting are also available at no extra cost.
We found Income, FWD and AXA to be the best home insurance companies in Singapore Their home insurance plans are competitively priced and offer seamless coverage with an easy application and claim process.
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Income provides the best home insurance for the average homeowner In general, customers will receive income 22% cheaper than the industry average, if they pay more than the cost of average in most cases. It also offers coverage for new construction which, along with its low cost, makes it a great value for new homeowners. Plus, it’ll be easier to get the right coverage for homeowners because Income automatically calculates the amount of home coverage you need based on the type and size of your home. With an easy application and claims process, Income’s home insurance plan is a great choice for first-time home buyers.
FWD is another major insurer for home insurance The plan is 60% lower than the average for HDB or condominiums and tenants. However, despite the low price, FWD does not focus on coverage You can get up to S$1,000,000 in home and renovation coverage and contents coverage of S$100,000 each, with peace of mind- ideas such as emergency housing assistance, alternative housing, storage and sports benefits. It also offers some benefits to landlords such as loss of income for 3 months (to protect against tenants who do not pay rent) and S$3,000 bonus to settle legal disputes your tenants. Finally, FWD allows you to submit applications online, which helps you get paid faster
Finally, most customers will enjoy AXA’s competitively priced home insurance and great benefit limits. AXA will provide full coverage for a premium that is 12% lower than competitors. The limits for construction, renewal and contents are so high that most people will have adequate coverage Due to the generous coverage, AXA offers exceptional value for your money It usually provides coverage between the S$2,300 and S$3,800 per premium dollar. In contrast, the cost of coverage is between S$1,300 and S$1,425 per dollar above the industry average.
Etica and FWD are the best insurance companies if you are looking for foreign domestic worker coverage Their plans are reasonable and provide coverage that exceeds the minimum insurance requirements of the Ministry of Human Rights.
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FWD’s maid insurance plans provide great value for your money With plans as low as 14%, they offer more benefits per dollar than any other domestic worker plan on the market. They will also appeal to many foreign domestic workers employers For example, employers on a budget will find the Essential plan to be a good choice, as the cost is 20% lower than the average. On the other hand, private plans provide moderate coverage for a wide range of benefits including ambulance expenses, rehabilitation benefits and temporary replacement. Additionally, FWD offers optional extras, so you can easily customize your plan to fit your needs.
Etica’s home insurance plans offer a wide range of benefits but cost an average of 28%, making them a good choice for employers looking to save money without focusing on benefits. Etika’s assistant insurance offers comprehensive benefits that will give you maximum peace of mind for hospitalization, termination/re-hospitalization and coverage of service expenses. Also, if you can ask
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