6 Best Motorcycle Insurance in Singapore for a Safer Ride [2024]

Riding a motorcycle on the road can be dangerous, with over 26 fatal motorcycle accidents in the first half of 2021. If you are a motorcyclist, it is essential that you get a motorcycle insurance to ensure your safety.

Motorcycle insurance can protect you when you least expect it and makes sure you get sufficient monetary compensation in case anything unfortunate happens. To help you identify which motorcycle insurance is best for you, we have compiled a list of the 6 best motorcycle insurance in Singapore and their respective benefits.

1. NTUC Income

NTUC Income Motorcycle Insurance is one of the most affordable and comprehensive coverage for motorcycle insurance in Singapore. They provide protection for motorbike damage or loss from fire, theft and accidents. This includes any reimbursement of expenses that will incur for vehicle repairs in the event of an accident, and coverage for third-party property damages that may arise from an accident.

You can choose from three types of plans and coverage based on your riding needs. Repayments are flexible, with the option to pay with flexible credit card instalment payment plans. In the case of death from bodily injury to a third party, the amount you are covered for (Maximum benefit limit) is unlimited.

2. FWD

FWD is the only insurer in Singapore to let you keep your 20% NCD for life. If your current NCD is 20%, they also offer you an option of 2-year insurance so you can lock in your premium for 2 years with an additional 5% discount. Also, their payments methods are extremely convenient where you can pay for your policy easily with PayNow or Grabpay

There are several repair workshop or FWD’s premium workshop around the country that you can pick from to repair your motorcycle. In the case where your motorcycle is unsafe to ride after an accident, FWD will cover the transportation costs to anywhere in Singapore.

3. Budget Direct Insurance

According to Value Champion, Budget Direct Insurance offers the cheapest and most comprehensive Motorcycle Insurance in Singapore, especially for safe riders. Budget Direct Motorcycle Insurance has no agent commission as you are buying directly from them, allowing you to save on your premiums. Also, they offer tailor-made covers where you can only allow one other person in the insurance with you.

Their claims hotline is operating 24/7, so you can lodge a claim over the phone or online at any time of the day or night, 365 days a year, making sure you get the compensatory payment you need whenever you need it. If you need additional protection, Budget Direct Insurance also offers several add-ons such as No Claim Discount (NCD) Protection, Personal Accident and 24 Hours Roadside Assistance.

4. Direct Asia

Direct Asia is the only insurer that offers customized motorcycle insurance in Singapore. You can choose from their range of comprehensive motorcycle insurance, Third Party Fire & Theft (TPFT) or Third Party Only (TPO) policies, based on your needs and preferences, and the amount of protection you desire.

Also, if you have held NCD20 for two or more consecutive years, you will be rewarded with Singapore’s one-and-only NCD30. Regardless of the type of motorbike insurance policy you choose, Direct Asia pledged to provide 5-star quality motorcycle insurance with affordable premiums that can go as low as $8.50 a month.

5. Sompo

Sompo Motorcycle Insurance provides protection for you and your motorcycle against liabilities to other parties for death or bodily injuries, damages to other parties’ properties. loss or damage of your motorcycle due to fire, theft or accident. To ensure maximum protection, you can choose to name up to 4 riders in your motorcycle coverage, helping you and your loved ones to save time and money.

Also, you will have the option to repair your motorcycle at your preferred repair workshop or their appointed motorcycle panel workshop. Sompo offers insurance coverage for third-party property damage in the case of an accident, making sure you are well-covered in unfortunate circumstances.

6. Etiqa

With the motto ‘Ride fun, ride safe, Etiqa ePROTECT motorcycle insurance provides the assurance all motorcyclists need before hitting the road. Their motorcycle insurance is easy to purchase, with just a few clicks on their website. You can choose from a range of comprehensive, third-party fire & theft and third party only coverage types, depending on you and your loved ones’ needs and preferences.

You can enjoy up to 50% of vehicle theft valuation in the case your motor vehicle gets stolen. You will also receive up to $500,000 coverage for loss or damage to 3rd-party property in case of an accident.

Conclusion

Do you have any reviews and comments to share regarding our choices for the best motorcycle insurance in Singapore?

While SBO is committed to supporting our local businesses, we welcome any feedback and anonymous sharing regarding your experience with the listed motorcycle insurance in Singapore.

We hope that this guide will be useful in helping you to make an informed decision when it comes to finding the best motorcycle insurance in Singapore.

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