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If you’re looking for comprehensive cover for you and your vehicle, MSIG Car Insurance offers two policies to help you get on the road. Read on to find out the difference between these two plans. Plus, learn about the common exclusions to be aware of.
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The following are the car insurance policies that MSIG provide:
MSIG’s most comprehensive plan offers the highest protection against a range of road incidents, and included damages to third party property and for bodily injury to others. It’ll also cover vandalism, while you’ll also be compensated for any loss or damage to your vehicle after an accident, as well as from fire, theft, civil unrest or natural disasters.
The reimbursement will be paid up to the market value of the insured vehicle at the time of loss or damage.
The MotorMax plan provides a similar amount of comprehensive cover to MotorMax Plus. However, you’ll have to repair your car at one of MSIG’s authorised workshops.
In terms of personal accident benefits, this plan only covers you up to S$20,000 compared with the S$100,000 offered by the MotorMax Plus plan.
Here’s a side by side comparison of the benefits:
| Benefits summary | MotorMax | MotorMax Plus |
|---|---|---|
| Coverage of insured vehicle against accidental loss or damage | Up to the insured vehicle’s market value at the time of loss or damage | Up to the insured vehicle’s market value at the time of loss or damage |
| Liability to Third Parties | ||
| Death or bodily injury to any person | Unlimited | Unlimited |
| Damage to property | S$5,000,000 | S$5,000,000 |
| Personal Accident Benefits | ||
| Policyholder | S$20,000 | S$100,000 |
| Authorised driver and/or passenger | S$10,000 | S$50,000 |
| Medical Expenses | ||
| Policyholder | Up to S$1,000 | Up to S$1,000 |
| Authorised driver and/or passenger | Up to S$1,000 each | Up to S$1,000 each |
| Other Benefits | ||
| Choice of repairer | MSIG authorised workshops only | Any workshops |
| Transport allowance | S$50 per day (Up to 10 days) | |
| New car replacement | ||
| Loan protection benefits | Up to S$100,000 | |
| Windscreen cover | ||
| 24-hour automobile and medical assistance services | ||
| Overseas emergency medical evacuation and repatriation | Up to S$50,000 | Up to S$50,000 |
With MotorMax, you’ll be entitled to a basic level of coverage for repairs at MSIG authorised workshops. This is ideal for budget-conscious drivers who need an affordable car insurance plan.
As for MotorMax Plus, it comes with additional benefits such as a generous transport allowance to get your around when your car requires a repair period of more than 3 days, as well as the flexibility to go to any workshop. So if you’re insuring a family car and prefer more support in the event of a car accident, you should get MSIG MotorMax Plus.
MSIG MotorMax Plus is also one of the few products that offer loan protection in Singapore, which means that your loved ones don’t need to worry about paying off the car loan when anything untoward happens to you.
So what really sets these two policies apart is the higher premium and additional benefits that come with MotorMax Plus. As always, choose the level of coverage based on what you need.
There is a list of typical exclusions which will apply to your MSIG Car Insurance policy. These exclusions include events such as:
Add-ons are optional extras designed to enhance the coverage of your basic car insurance policy. As of September 2021, MSIG car insurance only offers the following add-on: NCD Protector.
With the NCD Protector, you can make one claim within the period of insurance, and still have the NCD entitlement fully protected. Do note that this add-on is only available to policyholders with an NCD of 30% or higher.
A no claim discount (NCD) is an annual reduction in the cost of your car insurance if you did not make any claim on your vehicle for a year or more.
This means that for every consecutive year you remain claim-free, you’ll earn a bigger discount on your motor insurance premium. Here’s how it works:
| NCD at the inception date of the policy | |||
|---|---|---|---|
| No. of claims | 30% | 40% | 50% |
| 0 | 40% | 50% | 50% |
| 1 | 30% | 40% | 50% |
| 2 | 0% | 10% | 20% |
| 3 or more | 0% | 0% | 0% |
There are three main excesses that you should be aware of:
With any car insurance policy in Singapore, an excess (also known as a deductible) will be applied for several types of claims. This is an obligatory amount you’ll need to pay before your motor insurer starts to reimburse the claim.
The standard excess amount and its applicable GST will be specified in your policy schedule.
An additional Young and/or Inexperienced Driver Excess of S$3,000 applies for any person (other than the main Policyholder) making a claim on your vehicle, who is under 27 years old and/or has held a valid driving licence for two years or less.
MSIG car insurance’s windscreen benefit covers the cost of any repairs or replacement to the glass (windscreen and windows) in the insured vehicle, including the in-vehicle unit (IU).
However, each windscreen claim is subject to an excess of S$100. But in the event whereby the windscreen is repaired instead of a replacement, the excess will be fully waived. These claims will not affect your NCD entitlement.
If you suffer an accident or a breakdown and intend to make a claim, you must bring your vehicle to an MSIG authorised workshop for accident reporting and inspection within 24 hours or by the next working day.
Be sure to take pictures of all the damages sustained by the vehicles involved in the accident, accident scene and record details of witnesses, if any.
With a presence in Singapore for over 100 years, MSIG is a well-trusted brand in Singapore and one of Asia’s leading general insurers. The brand is one of the few foreign‑based general insurers that offer a wide range of personal and commercial insurance solutions.
MSIG Insurance (Singapore) Pte. Ltd. is a wholly-owned subsidiary of MSI and a member of the MS&AD Insurance Group.
While MSIG car insurance is easy to understand and comes with comprehensive features, the premiums aren’t exactly cheap – but you’re certainly paying for a reliable brand name.
Before deciding on a car insurer, always take the time to compare the different brands to find a solution most suited to your needs.
Protect yourself from financial losses related to auto accidents with MSIG MotorMax car insurance.
