MSIG car insurance is a popular plan in Singapore with a recognisable brand name. The claim process is also easy and reliable. What are some of its unique selling points?
MSIG car insurance plans: MotorMax vs MotorMax Plus
MSIG’s car insurance is easy to understand as they only have two types: MSIG MotorMax and MSIG MotorMax Plus. Both types offer unlimited compensation for death or bodily injury to any person and up to $5 million in damage to property. There is also 24-hour automobile and medical assistance services, as well as emergency medical evacuation and repatriation of the policyholder overseas (only within the allowable geographical area in connection with the insured vehicle).
Both also offer the cost of reinstating any glass in the windscreen including the IU with an excess of $100 per claim. This means, you only pay a maximum of $100 if you encounter windshield damage.
Here are other differences between MSIG MotorMax and MotorMax Plus:
|Personal accident benefits
||Up to $20,000 for policyholder, $10,000 each for authorised drivers and passengers
||Up to $100,000 for policyholder, $50,000 each for authorised drivers and passengers
|Choice of workshop
||MSIG’s authorised workshops
|Transport allowance when vehicle goes under repair
||$50 per day, maximum 10 days
|New for old replacement car
|Loan protection (pays outstanding loan amount following accidental death of policyholder)
||Up to $100,000
As you can see, MotorMax offers a basic level of coverage for repairs at MSIG authorised workshops only. It is more for people who are budget conscious and just need a cheap car insurance plan.
The second is MotorMax Plus, which offers more comprehensive benefits such as transport allowance when your car is under repair for more than 3 days, and the flexibility to go to any workshop. If it’s a family car and you would like 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.
| Read: Everything You Need To Know About Car Insurance in Singapore |
MSIG car insurance add-ons
MSIG car insurance doesn’t really have a huge range of add-ons. The main one is the NCD Protector. You can get no-claim discounts for each year that you don’t get any accidents, you get 10% for each year you don’t file a claim, up to 50%.
Once you have NCD30—which means your no-claim discount has reached 30%—you can add on a protector to maintain your NCD. The protector only protects up to one claim in the policy year and is non-transferable to another insurer.
Should you choose MSIG car insurance?
MSIG car insurance is easy to understand and the features are alright, but you’re paying for a reliable brand name because the premiums are not exactly cheap.
Choose the level of coverage based on what you need. Need to compare and see more car insurance quotes? Check out GoBear’s car insurance portal to compare and choose the best one for you.
Find out more about MSIG Car Insurance.
Disclaimer: The information in this article is accurate as of 7 September, 2020 unless otherwise stated. Whilst we endeavour to keep the information accurate and updated, GoBear makes no representation or warranties for the accuracy of the information in this article or content of any websites which may be linked. This article is for informational and promotional purposes only; it does not constitute advice or recommendation and does not take into account your own individual circumstances. The information in this article may not be updated and you should always refer to the relevant Policy Wording and insurer. In the event of any inconsistency, the Policy Wording and/or information from the insurer shall prevail.