MSIG MotorMax, Singlife Car Insurance, and FWD Car Insurance – How Do They Stack Up?

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Pick the ideal choice among Singapore’s car insurance favourites – MSIG MotorMax, Singlife Car Insurance, and FWD Car Insurance.

When it comes to car insurance in Singapore, three major players stand out: MSIG MotorMax, Singlife Car Insurance, and FWD Car Insurance.

Whether prioritising extensive coverage, round-the-clock support, or cost-effectiveness, each insurance provider has compelling features for consideration. By assessing their unique features and benefits, you can make an informed decision to ensure you’re well-protected on the road.

 

Related: Best Car Insurance Plans in Singapore

 

MSIG MotorMax, Singlife Car Insurance, and FWD Car Insurance Core Benefits Comparison

The table below shows the primary benefits for all three insurers. This includes cover for personal accident, medical expenses, third-party liability, geographical coverage, and more.

Insurance Benefit

MSIG MotorMax

Singlife Car Insurance

FWD Car Insurance

Personal Accident

Policyholder

MotorMax:

S$20,000

MotorMax Plus:

S$100,000

Authorised Driver and/or Passenger (up to legal seating capacity)

MotorMax:

S$10,000 each

MotorMax Plus:

S$50,000 each

PolicyHolder Benefits:

Death

Motor Standard:

S$50,000

Motor Prestige:

S$100,000

For loss of limb and loss of sight/hearing in one eye/ear 

Motor Lite: 

Not available

Motor Standard:

S$25,000

Motor Prestige:

S$50,000

Driver

(Pay-out if the driver of the insured car dies or becomes permanently disabled from an accident)

Classic: 

Up to S$30,000

Executive: 

Up to S$50,000

Prestige: 

Up to S$75,000

Passenger

(Pay-out for each passenger in insured car who dies or becomes permanently disabled from an accident)

Classic: 

Up to S$10,000

Executive: 

Up to S$20,000

Prestige: 

Up to S$25,000

One-time payment for surviving children if both parents die or are permanently disabled in a car accident

Classic: 

Up to S$250,000

Executive: 

Up to S$375,000

Prestige: 

Up to S$500,000

Medical Expenses

Policyholder

Up to S$1,000

Authorised Driver and/or Passenger

Up to S$1,000 each

If the policyholder or any of the passengers in your car are injured in an accident

Motor Lite: 

S$500

Motor Standard:

S$2,500

Motor Prestige:

S$5,000

Medical expenses in case of a car accident (per occupant)

Classic: 

Up to S$1,000

Executive: 

Up to S$3,000

Prestige: 

Up to S$5,000

Liability to Third Parties

Death or Bodily Injury to Any Person

Unlimited

Damage to Property

S$5,000,000

Coverage for death or injury to another person, including passengers

Unlimited

Coverage for legal charges with Singlife’s consent Unlimited

Damage to third party’s property

Up to S$5 million

Legal costs if you are sued for damage caused by your car

Up to S$3,000

Cover for accidental damage to someone’s property caused by your car

Up to S$5,000,000

Cover if you’re legally responsible for someone’s death or injury caused by your car

Unlimited

Workshop of Choice

MotorMax:

MSIG-authorised workshops

MotorMax Plus:

Any workshop

Motor Lite: 

Approved repairer only

Motor Standard:

Any repairer (excess will be doubled if done at a non-approved repairer)

Motor Prestige: 

Any repairer

FWD Classic/Executive/

Prestige:

Covers repairs or replacement of damaged car parts done at FWD premium workshops and Extended workmanship guarantee (for repairs done by FWD premium workshops)

Transport Allowance 

MotorMax:

Not covered

MotorMax Plus:

S$60 per day, maximum of 10 days

Motor Prestige Only: S$80 per day, maximum of 10 days

Classic:

S$40 per day,

Up to 6 days

Executive:

S$60 per day,

Up to 8 days

Prestige:

S$80 per day, 

Up to 10 days

Courtesy car until repair is completed, or for up to three months if damaged beyond repair or permanently lost (Executive and Prestige only)

New for Old Replacement and Repair or Replacement

MotorMax:

Not covered

MotorMax Plus:

Covered*

If the accident repair cost is >70% of its market value, and you bought your car when it was brand new, and the accident occurred within the specified period mentioned in the policy. 

Period:

Motor Lite & Motor Standard:

12 months 

Motor Prestige:

24 months

New car replacement for cars less than 12 months old (if the car is written off or permanently lost)

Repair or replacement if your car is accidentally damaged, lost or stolen

Loan Protection

MotorMax:

Not covered

MotorMax Plus:

Up to S$100,000

Not covered

Not covered

Windscreen Protection

Auto reinstatement

Due to breakage, subject to an excess of S$100 for each claim

*Excess is waived where repair to the windscreen is done instead of a replacement

Unlimited windscreen (glass) replacement cover if done at approved repairers. Otherwise, up to S$0 for Motor Lite, up to S$600 for Motor Standard and Unlimited for Motor Prestige.

The number of windscreen claims

Motor Lite: One

Motor Standard and Motor Prestige: Unlimited

Windscreen Access

Motor Lite: S$100

Motor Standard: S$100

Motor Prestige: S$0

Windscreen repair or replacement 

(S$100 excess for replacement)

24-hour helpline

Available

Available

Available (roadside assistance for accidents and car breakdowns)

Geographical Coverage

Covers Singapore, West Malaysia and the part of Thailand within 80 kilometres of the border between Thailand and West Malaysia.

Covers the use of your car in Singapore, West Malaysia and Peninsula Thailand (up to 80 km from the border with West Malaysia).

Covers Singapore, West Malaysia (including Penang and other Malaysian islands offshore of West Malaysia) and Southern Thailand (within 80km of its border with West Malaysia) and when in transit by seas between any of these areas.

Emergency Medical Evacuation & Repatriation

Emergency medical evacuation and repatriation of the Policyholder for accidents within the Geographical Area* (excluding Singapore) in connection with the Insured Vehicle

S$50,000

Not covered

Optional Benefits – Overseas boosters with additional premiums

Promotions

1 April to 30 April 2024

Exclusive AMTD PolicyPal Group Promotion

New to MSIG customers

MotorMax: Get S$38 Rewards via PayNow and S$100 e-vouchers from MSIG when you buy now.

Motormax Plus: Get S$58 Rewards via PayNow and S$120 e-vouchers from MSIG when you buy now!

Buy Now

1 April to 18 April 2024 

Exclusive AMTD PolicyPal Group Promotion

Use promo code CAR23 to get a 23% discount (new business only) when you buy now

Buy Now

8 April to 21 April 2024 

Exclusive AMTD PolicyPal Group Promotion

Comprehensive Plans only: 

Use Promo Code “POLICYPAL” to get 10% off

 

Buy Now

Source: MSIG, Singlife, FWD, AMTD PolicyPal

*terms and conditions apply

 

Based on the table, MotorMax Plus provides exclusive loan protection for up to S$100,000. FWD car insurance offers policy owners a courtesy car for certain conditions under its Executive and Prestige plans. 

Finally, Singlife car insurance provides the longest new-for-old car replacement for up to 24 months (provided the accident repair cost is over 70% of its market value, you bought your car when it was brand new, and the accident occurred within the specified period).

What are the additional and optional covers MSIG MotorMax, Singlife Car Insurance, and FWD Car Insurance provide?

Next, let’s explore the additional and optional benefits offered by MSIG MotorMax, Singlife Car Insurance, and FWD Car Insurance.

Benefit Type

MSIG MotorMax

Singlife Car Insurance

FWD Car Insurance

Additional Benefits

For electric cars (MotorMax Plus Only)

Emergency towing services when your electric vehicle runs out of electricity during use, subject to S$50 for each service engaged through our Auto Assistance hotline

Medical Expenses to cover the Policyholder, authorised driver, and/or passenger injured by electric shock as a result of an electric vehicle battery leakage:

S$2,000 each

Replacement of Car Lock and Keys: S$250

Accident loss, fire or damage

The insurer will cover up to the car’s market value, including the COE. Manufacturer-fitted car accessories and audio equipment are covered for an unlimited amount.

Additional excess for young and/or inexperienced drivers 

If the driver (including policyholder) is aged 24 and below or has held a valid driving licence for less than 2 years

Motor Lite and Motor Standard: S$2,500

Motor Prestige: S$0

Unlimited towing service to the nearest accident reporting centre

On-site accident reporting at the scene in Singapore (Motor Standard and Motor Prestige only)

Pick up from accident location (Motor Standard and Motor Prestige only)

Personal Belongings cover for losses arising from the insured car due to fire, theft or an accident

Motor Standard: S$1,000

Motor Prestige:

S$3,000

Child seat coverage for up to S$250 for damage to a fitted child seat in your car due to an accident, fire or theft

Emergency breakdown assistance

(Motor Standard and Motor Prestige only)

No Claims Discount (NCD) Step Down for each and every claim

Motor Lite: 30%

Motor Standard: 10%

Motor Prestige: 10%

5% safe driver discount

Standard excess each time your car is accidentally damaged. Amount varies depending on the car make and model,

from S$750

Towing cost cover if your car is damaged or unsafe to drive

Classic: S$300

Executive: S$400

Prestige: S$500

Safe travel after an accident

Classic: 

S$40 per occupant

Executive: 

S$60 per occupant

Prestige

S$80 per occupant

Repair or replace your accessories if they are damaged, lost or stolen

Classic: S$500

Executive: S$1,000

Prestige: S$2,000

Replacement of damaged, lost or stolen keys and locks

Classic: Not covered

Executive: S$500

Prestige: S$1,000

Replacement of damaged, lost or stolen personal belongings

Classic: Not covered

Executive: S$1,000

Prestige: S$2,000

Additional excess each time your car is accidentally damaged by a driver under 27 years old

S$2,500

Any driver you trust to drive your car is covered (Executive and Prestige only)

 

Your preferred workshop

Classic/Executive/

Prestige:

Pick the repair workshop of your choice apart from FWD’s list of premium workshops.

Optional Benefits

Excess Waiver

Waives the standard policy Excess for the first 2 claims during the policy year

NCD Protector Protects the policyholder’s NCD entitlement in the event of a claim. Applicable to policyholders of 30% NCD or higher.

NCD Protector

Loss of use cover

Additional personal accident cover

Loss of keys

Overseas booster

Additional towing to get the insured car back to Singapore

S$500

Mortal remains repatriation

S$50,000 per deceased

Emergency expenses to send policyholder back to Singapore

S$1,000

NCD Protector

Protects Your NCD of 30% to 40% (for one “at fault” claim)

Cover for Any Driver You Trust who drives your car without you naming them

Your Preferred Workshop apart from FWD’s list of premium workshops 

Waive Your Young Driver Excess of S$2,500 for drivers under 27 years of age

Source: MSIG, Singlife, FWD, AMTD PolicyPal

 

How do the additional benefits stack up?

These are some value-added coverages MSIG, Singlife, and FWD extend to their policyholders, which you can consider when picking between the three insurers. 

MSIG

MSIG MotorMax extends its coverage to include electric vehicles, including key services like emergency towing services if your car runs out of electricity. 

 

Singlife

Singlife provides child seat coverage for risk exposure to an accident, theft or fire and a 5% safe driver discount. 

 

FWD

FWD also covers safe travel after an accident and the replacement of damaged, lost or stolen personal belongings, keys, and locks under its Executive and Prestige plans.

 

How do the optional benefits stack up?

All three insurers provide these benefits for individuals looking for customised car insurance coverage.

 

MSIG

MSIG’s optional benefits are ideal for individuals seeking to protect their NCD percentage via its NCD cover when a claim kicks in (for NCDs at 30% and more).

 

Singlife

Singlife offers four optional benefits, including NCD protection, loss of car keys, and additional personal accident cover.

 

FWD

The highlight of FWD’s optional car insurance protection is its overseas booster. Key features for this benefit include the repatriation of mortal remains to Singapore at S$50,000 per deceased, additional towing for up to S$500 to get your car back to Singapore, and emergency expenses for up to S$1,000 to get you back to Singapore too.

 

Related: Best Travel Insurance in Singapore 2024

 

What’s your car insurance pick?

 

Selecting the right car insurance is a critical decision, and squaring up MSIG MotorMax, Singlife, and FWD car insurance plans reveals distinct advantages. 

Consider your priorities – whether it’s comprehensive coverage, competitive pricing, or exceptional customer service. Each insurer brings unique features to the table. By weighing these factors, you can make an informed choice that aligns with your specific needs. Remember, the ideal car insurance safeguards your vehicle and provides peace of mind on every journey.

Enquire more and contact us today!

 

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Read More:

Best Cheap Car Insurance in Singapore 2024

FWD Car Insurance: Great Coverage For a Fair Price

Singlife Car Insurance: Is It the Right Plan For You?

MSIG Car Insurance: Strong Accident Benefits For a Fair Price

Does Having an Electric Vehicle Affect Your Car Insurance?

 

Disclaimer: Protected up to specified limits by SDIC. This content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice. Nothing contained on our Site constitutes a solicitation, recommendation or endorsement by AMTD PolicyPal Group in this or in any other jurisdiction in which such solicitation or offer would be unlawful under the securities laws of such jurisdiction. You may wish to seek advice from a qualified adviser before buying the product. 

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