Car Insurance

AIG Car Insurance Singapore Review 2018

Clara Lim

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AIG car insurance is definitely for traditionalists, as it is one of the “old guard” insurers that have been in Singapore for decades. It might be a well-regarded brand, but does it really live up to its reputation? Let’s take a look at what AIG car insurance plans are available and how they stack up.

AIG car insurance plans

AIG car insurance comes in 3 varieties (all comprehensive plans): AutoValue, AutoPlan and AutoPlus.

Car insurance plan Key features Recommended for
AutoValue AIG authorised workshops only Older cars no longer under warranty

Second hand cars

Parallel imports

AutoPlan No restriction on workshops

Replacement car for cars under 3 years old

Cars under 3 years old
AutoPlus Option to go to dealer’s workshop for cars 3 years old or newer (AIG authorised workshops for all other cars)

Replacement car for cars under 3 years old

Excess waiver (up to $500 / $1,000)

Loss of use courtesy car included

Free roadside assistance

Cars under 3 years old

People who can’t live/work without a car

 

AIG AutoValue is the most basic and cheapest plan. It covers just the basics, i.e. third party damages, car loss or damage (e.g. fire, flood, theft), personal accident benefits, car towing and repairs. However, repairs are restricted to AIG authorised workshops.

AIG AutoPlan basically offers the same coverage as AutoValue but allows you to go to any workshop. It also has a replacement car benefit for cars under 3 years old. AIG will pay for a new car of the same make and model if it is damaged beyond repair.

As a premium insurer, AIG typically concentrates its key benefits among the upper tiers, and this is no different for AIG AutoPlus which has a whole slew of extra perks on top of the AutoPlan coverage.

For a start, you can waive your excess for free (up to $1,000 for 50% NCD, up to $500 below 50%). If your car is stuck at the workshop, you can use AIG’s courtesy car for free for an unlimited period of time. And finally, there’s free roadside assistance which you can call upon to help with even tasks like changing a tyre.

You can compare coverage and read the policy documents on AIG’s car insurance page.

Looking to buy AIG car insurance? Compare the best quotes from 10 different Singapore car insurance providers first.

 

AIG car insurance add-ons

NCD Protector: If your No Claim Discount (NCD) is 50%, you can add on this protector to maintain your NCD in the event that you have to make a claim. Note that if you buy the upper tier plans (AutoPlan and AutoPlus) you will get a free NCD Protector on your 50% NCD when you renew.

Courtesy car: Unlike the overwhelming majority of insurers in Singapore who only give you a daily transport allowance when your car is being repaired, AIG still does the whole courtesy car shebang. They’ll deliver the car right up to your doorstep and you have unlimited use of it until your car is back from the workshop. It’s free for the premium AutoPlus plan, but for other plans you can also pay extra for this perk.

Courtesy car type Additional premium
1,500cc to 1,600cc $94.16
1,800cc to 2,000cc $115.56

How to get cheaper premiums with AIG?

No doubt AIG is expensive, although there are people who will pay for the brand name and level of service. Nonetheless, if you want to save money on your AIG car insurance premium, here are a few things you can do:

Type of discount Description Amount
NCD (No Claim Discount) Given in increments of 10% for each year you don’t file a claim 10% to 50%
Flexible excess Increase excess as high as $3,000 to get cheaper premiums Varies
Age condition policy Limit your policy to drivers aged 30, 35 or 40 years and up for cheaper premiums Varies

While NCD and flexible excess are standard, I like the ability to reduce your premium if you don’t need to cover younger drivers. That makes AIG better value-for-money for older and more experienced drivers.

 

Additionally, you can get your excess waived in some cases (although it won’t impact your premium):

Type of excess waiver Description Amount
First claim excess waiver for AutoPlus policyholders NCD 50% Up to $1,000
NCD below 50% Up to $500
Excess waiver for in-car camera Get up to $1,000 excess waiver when you share in-car camera footage Up to $1,000

 

Why (or why not) choose AIG car insurance?

Let’s be real here – AIG car insurance isn’t for the budget conscious. If you’re considering going for AutoValue, you can probably find a better plan out there for that price point.

Instead, you should go straight for either AutoPlan or AutoPlus to make the most of an AIG plan. These are upmarket plans suitable for new cars (3 years old or newer) and if you (or your work or family) are very dependent on your car.

AIG’s biggest selling point is its courtesy car benefit, which pretty much all other insurers have stopped offering. It might seem like a frilly non-essential, but heavy car users will know that taking taxis and driving a car are NOT the same thing. So if you’re heavily dependent on your car, whether it’s for your livelihood or family, you have good cause to consider AIG.

 

Do you think a courtesy car is worth paying extra for? Tell us why or why not in the comments!

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Clara Lim

I used to be MoneyDumb. I hung out at H&M every day and thought that a $50 lunch set was a good deal. These days, I spend my time researching the crap out of life and trying to maximise utility on micro-decisions. I'm not sure if that's an improvement.