Checking out the newest car insurance plans in town isn’t anyone’s idea of a good time. But what if we told you that the latest entrant could help you save up to $300 off your annual car insurance premiums? That’s what Bubblegum car insurance offers.
Full disclosure: Bubblegum is MoneySmart’s latest insurance venture. Fed up with Singapore’s lackluster insurance offerings (think expensive premiums and dinosaur-era processes) we decided to start Bubblegum, a fully digital insurance broker with the most bang-for-buck policies in town. For the full breakdown, check out our article here!
Bubblegum car insurance plans at a glance
With 4 flavours of car insurance, Bubblegum is an inclusive insurance broker that covers all of the most common cars in Singapore. Depending on your car type, though, you’ll want to pick the right type. Here they are from bare-bones to most comprehensive:
|Bubblegum car insurance||Best for…|
|Comprehensive + Warranty||Cars under financing, cars no longer covered by an extended warranty, parallel import cars.|
|Comprehensive||Most cars under financing|
|TPFT (Third Party, Fire & Theft)||Older cars close to 13 years|
|TPO (Third Party Only)||COE cars or “spare” cars|
It’s illegal to drive without car insurance in Singapore. The cheapest TPO (Third Party Only) insurance meets the minimum legal requirements, but it only covers damage to third parties in accidents. Everything else comes out of your own pocket. So, TPO is only suitable for cars that are super old, rarely used, or both.
Like TPO, TPFT (Third Party, Fire & Theft) offers minimal coverage. The only extra coverage it gives is for loss or damage by fire or theft. Thus, it’s suitable only for old cars — the kind where, if it gets damaged in an accident, you would choose to scrap it rather than pay for repairs.
Meanwhile, if your car does not fall under those special cases above, you’ll want to opt for at least a Comprehensive car insurance plan. This is the minimum requirement for cars under financing (i.e. you have a car loan) as it would cover damages to your own vehicle, including:
- Own Damage Vehicle Coverage
- Unlimited Windscreen Coverage
- Solar Film
Importantly, note that Bubblegum offers an extremely affordable option to add on vehicle damage coverage and servicing at any workshop.
In addition, you also can claim your medical expenses (up to $300) and personal accident coverage ($20,000 for named drivers, $10,000 for passengers).
What about Bubblegum Comprehensive + Warranty?
Bubblegum has the only car insurance in Singapore that offers an optional Engine and Gearbox Warranty of up to $5,000 on top of the standard Comprehensive plan. No pre-inspection is required, though you will have to show that any issues arising are not due to pre-existing conditions.
This unique benefit allows you to claim if your car engine or gearbox breaks down. That means that, on top of protecting you financially in the case of an accident, Bubblegum car insurance also covers car breakdowns or malfunctions.
Why does Bubblegum offer this? Based on Singapore Police reports of motor vehicle accidents a year, Bubblegum estimates that each driver gets into a car accident only once every 20 years or so. So paying for conventional car insurance — which covers only damages in the event of an accident — often feels like flushing money down the drain.
Since car breakdowns are probably more common than accidents, we hope this optional benefit adds value to drivers.
Can you customise your Bubblegum car insurance?
Yes, of course. That includes the optional Engine and Gearbox Warranty which we talked about extensively above.
You can also customise your Bubblegum car insurance plan with options like Any Workshop for own damage repairs, NCD Protector (or NCDP) if you have 50% NCD, Personal Accident payouts for unnamed drivers and more.
Note that Bubblegum doesn’t offer certain frills such as courtesy cars that you can use when your car is at the workshop. Although it sounds nice, this benefit is usually not worth it. Bubblegum doesn’t want to charge customers for something they’ll most likely not use. I.e. You would pay around $80 per year for this benefit that you’d rarely need.
Let’s talk about Bubblegum car insurance premiums.
So, are Bubblegum car insurance prices really lower than the competition? Here’s a comparison we did of popular plans across the market:
Scenario: Tom is 33 years old with 2 years of driving experience. He drives a 2017 Honda Fit with 40% NCD and has had no “at fault” accidents in the last 3 years.
As you can see, Bubblegum’s annual premium is the lowest — the only one below the $1,000 threshold — for a standard excess of $600.
Yet Bubblegum’s coverage is better than the rest with the added gearbox and engine warranty. Plus, a cheaper Any Workshop coverage add-on for anyone with a preferred workshop for servicing and repairs.
Why (or why not) choose Bubblegum car insurance?
We’re trying to be impartial here, but it’s hard to deny that Bubblegum car insurance is very value-for-money. Bubblegum plans are some of the lowest priced in town, yet you won’t end up compromising on coverage.
Bubblegum’s exclusive engine and gearbox warranty option is also a big plus, especially for good (careful, experienced, rule-abiding) drivers — like yourself, hopefully.
Finally, Bubblegum car insurance is also a breeze to buy thanks to the app. On it, you can apply and get your policy within 5 minutes thanks to Singpass automation. And if you get into a situation on the road, simply whip out your phone and call or message Bubblegum’s 24/7 car insurance dedicated assistance hotline— they’ll take care of everything.
However, if you are an old-school kind of driver and are happy with your current arrangement with an agent or representative you’re comfortable with, then perhaps Bubblegum isn’t so suitable for you. That said, be prepared to pay somewhat higher premiums.