DirectAsia is one of the newer car insurers in Singapore. While it is not a household name like NTUC or AXA, it is gaining market share because of cheap premiums, especially with its exclusive “NCD60” discount. Take a look at what DirectAsia car insurance has to offer in Singapore:
DirectAsia car insurance plans
Unlike some insurers who focus on comprehensive plans only, DirectAsia offers a full range of car insurance plans (and drivers) of all ages. All plans come with a Lifetime Repair Warranty at authorised workshops, but you can “upgrade” to any workshop of your choice by paying more.
All their plans are highly customisable. You start by picking one of 4 core plans, ranked here from cheapest to most expensive:
|Car insurance plan||Key features||Recommended for|
|Third Party Only (TPO)||Covers third party damage only||Very old cars at the end of their COE lives|
|Third Party, Fire & Theft (TPFT)||Covers third party damage, fire and theft only||Cars above 8 years old|
|Comprehensive||Comprehensive coverage including damage to your own car||Any car under 6 years old
Young & inexperienced drivers (regardless of car age)
|SOS Car Insurance||“Second chance” comprehensive coverage for drivers with history of accidents||Drivers who can’t get insured elsewhere|
Then, customise it with one of 3 driver plans, depending on driver profile:
|Driver plan||Key features||Recommended for|
|Value (cheapest)||Main driver + up to 4 additional drivers
2 (out of the 4) can be young or inexperienced drivers
All drivers must be named (unnamed drivers are not covered)
|Sole driver of the car
|Value Plus (more expensive)||Main driver + unlimited experienced drivers
Unnamed drivers are covered as long as they are experienced
Young or inexperienced drivers must be named (max. 2)
|Drivers >30 years old who take turns to drive (e.g. among friends)
Large families sharing the same car
|Flexible (most expensive)||All unnamed drivers with valid license are covered||Car-sharers
Families whose kids plan to get driver’s license in the coming yea
DirectAsia car insurance add-ons
As for all the nitty-gritty details (e.g. which workshop you can go to) usually found pre-packaged into plans by other insurers, DirectAsia lets you customise them by adding on the items you want. Note that there are some that you can’t add to TPO or TPFT plans.
Here’s the list of DirectAsia’s optional benefits:
|Car insurance add-on||Description|
|My Workshop||Add-on for flexibility to choose a non-authorised workshop|
|24 Months Replacement Car||DirectAsia to pay out market value of cars up to 2 years old|
|NCD Protector||Protect your No Claim Discount (good for one claim only)|
|Car Accessories||Cover the cost of replacing or repairing declared car accessories|
|Loss of Use Compensation||Transport allowance $50 a day (up to 10 days) when your car is undergoing repair due to an accident|
|24h Breakdown Assistance||DirectAsia will cover roadside assistance and towing costs|
|Medical & Dental Expenses||Up to $3,000 per person (driver & passengers)|
|Personal Accident for Driver||Choose your coverage up to $500,000|
|Repatriation Costs||Up to $200 per person and $3,500 for car towing if you get into an accident overseas|
How to get cheaper premiums with DirectAsia car insurance?
The main way to save on premiums with DirectAsia car insurance is to select the right type of car and driver plan, and don’t over-insure yourself with too many bells and whistles.
Apart from the plan’s features, here are the other ways you can get discounts on your premium.
|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%|
|NCD60||If you had 50% NCD for the past 5 years (i.e. 10 years without a claim) you get a 60% discount with DirectAsia||60%|
|Offence Free Discount||Present Certificate of Merit from Traffic Police to get discount on top of NCD||Varies|
|Flexible excess||The higher your excess, the lower your premium||Varies|
|Low Mileage||Opt for a low mileage plan for cheaper premium||Varies|
|In-car Camera||Get a discount if you have a front car camera installed (for accident footage)||4%|
|Go Green||Opt for paperless documentation||Save $15 surcharge|
DirectAsia is known for their NCD60 discount which is exclusive to them (so far). While No Claim Discount is capped at 50% industry-wide, DirectAsia raises the ceiling to 60% – but only if you maintain your no-claim record for 10 years (not 6!).
Why (or why not) choose DirectAsia car insurance?
There are reasons to choose DirectAsia. I think its biggest strength is customisability – so you can get cheaper premiums by only opting-in for the features you want.
To be clear, DA isn’t the only insurer offering options. Even stalwarts like AXA are now making their plans very flexible and customisable, which is a great thing. However I think DA doesn’t overdo it to the point of overwhelming consumers with too much choice. The various options and features are explained clearly without jargon so you can understand what you’re buying too.
Premiums are affordable, but with their much-touted NCD60 you can get a cool 60% off your premium. However, note that it takes a 10-year track record to get NCD60 status. So despite the hype, this is really for super-seasoned drivers only.
Love customisable car insurance plans? Get personalised car insurance quotes through MoneySmart’s easy-to-use wizard.
Personal finance tips delivered to your inbox!
Receive news, subscriber-exclusive promotions and guides on how to become smarter with money.
We promise never to spam you!
Tags: Car Insurance