Insurance

Best Motorcycle Insurance Singapore 2020

Is there really a “best” plan for motorcycle insurance? We find out in this article. Updated 22 December 2020.

  • Phuan Wei Ning
  • |
  • Published on 29 Apr 2020

1. FWD motorcycle insurance

Pros

  • Only insurer to offer lifetime NCD guarantee
  • Option for a 2 year insurance plan to lock in your second year premiums and enjoy a 5% discount
  • 24 hour roadside assistance
  • Choice of using your preferred workshop or FWD's premium workshop
  • 24 month repair guarantee for FWD’s premium workshop
  • Commercial motorcycle plans includes coverage for delivery of goods and food delivery riders
  • One-time transport cover after accident to allow us to get home safely
  • Option for add-ons to enhance coverage
  • Cons

  • Less suitable for motorists looking for personal accident coverage
  • No option for instalment payment plans
  • Promotion: Enjoy 26% off your FWD motorcycle insurance with promo code "IFAST".



    Best for: Comprehensive coverage at affordable prices. Commercial motorcycle plans are also suitable for food delivery and courier delivery riders.


    May not be suitable for: Motorists looking for personal accident coverage.

    Offering comprehensive coverage at affordable prices, FWD Motorcycle insurance is our top pick for motorcycle insurance. The only insurer to offer a lifetime No Claims Discount (NCD) guarantee, FWD offers motorist a peace of mind knowing that they would not be penalised for making a claim from their insurance. However, do note that you must have a 20 per cent NCD status to be eligible for this lifetime NCD guarantee.

    Current NCD
    NCD after one claim
    FWD motorcycle insurance
    20%
    20%
    Other motorcycle insurance
    20%
    0%

    Moreover, FWD also offers a premium guarantee with the option to purchase a 2 year plan. This allows riders to lock in their second year premium while also enjoying a 5 per cent discount on their premiums.

    While FWD's motorcycle insurance does not come inclusive of personal accident coverage, there is the option to add-on coverage for hospitalisation expenses due to an accident. Alternatively, motorists may also consider purchasing a standalone personal accident plan. This will allow you to enjoy comprehensive personal accident coverage even when you are not riding your motorcycle.

    Lastly, FWD's commercial motorcycle plan also covers for food and goods delivery services thus making it suitable to be used by food delivery or courier delivery riders.

    To purchase FWD motorcycle insurance, click on the button below.


    2. NTUC Income motorcycle insurance

    Pros

  • 24 hour roadside assistance with Orange Force
  • Online submission of accident report with the use of a mobile application
  • Option for an instalment payment plan with selected credit cards
  • Cons

  • Not suitable for motorists looking for personal accident coverage
  • Repairs can only be done at NTUC Income’s workshops
  • Best for: Motorists looking for a simple, no frills motorcycle insurance.


    May not be suitable for: Motorists who would like to choose their own preferred workshop.

    While motorists are traditionally required to head to a reporting center within 24 hours after an accident, NTUC Income allows motorists to submit their reports online via their accident reporting mobile application. This can be done in the convenience of your own home thus simplifying the accident reporting process and eliminating the hassle of having to travel to a reporting center within the specified time frame.

    However, do note that this online service is only suitable if you do not wish to make a claim under your policy or against the other party. In the event that you wish to receive assistance for your accident, you may also contact Orange Force, NTUC Income’s accident assistance team for 24 hour roadside assistance.


    Over 8,100 users trust FSMOne with their insurance planning

    Live better, safer. Take risks with your investments, not your insurance.

    Speak to our experts today to get proper protection.

    Yes, I'm Interested!


    Click here to find out how much protection you need


    Information is accurate as of 22 December 2020 with changes subjected to the insurer's discretion.


    Available Products on FSMOne Insurance

    Term Life, Whole Life, Critical Illness, Annuity, Health, Endowment


    from Etiqa Insurance, Manulife, NTUC Income and Tokio Marine Life Insurance


    *Please check with our advisory team if the product you want is available on FSMOne Insurance


    Interested to learn more? Check out these articles:

    Best Personal Accident Insurance Singapore 2020

    3 Lessons We Can Learn From The Covid-19 Crisis

    Want An Early Retirement? Achieve Your Retirement Goals With Annuities

    Is My Company's Insurance Benefit Really Reliable?

    3 Reasons To Not Get Basic Critical Illness Insurance

    All materials and contents found in this site are strictly for general circulation and informational purposes only and should not be considered as an offer, or solicitation, to deal in any of the funds or products found/identified in this site. While iFAST Financial Pte Ltd ("IFPL") has tried to provide accurate and timely information, there may be inadvertent delays, omissions, technical or factual inaccuracies and typographical errors. Any opinion or estimate contained in this report is made on a general basis and neither IFPL nor any of its servants or agents have given any consideration to nor have they or any of them made any investigation of the investment objective, financial situation or particular need of any user or reader, any specific person or group of persons. You should consider carefully if the products you are going to purchase are suitable for your investment objective, investment experience, risk tolerance and other personal circumstances. If you are uncertain about the suitability of the investment product, please seek advice from a financial adviser, before making a decision to purchase the investment product. Past performance is not indicative of future performance. The value of the investment products and the income from them may fall as well as rise. Opinions expressed herein are subject to change without notice. In respect of any matters arising from, or in connection with the said research analyses or research reports, recipients of the report are to contact IFPL at 10 Collyer Quay, #26-01 Ocean Financial Centre Building, Singapore 049315, or by telephone at +65 6557 2853. Where the report contains research analyses or research reports from a foreign research house and if the recipient of such research analyses or research reports is not an accredited investor, expert investor, institutional investor or an ex-accredited investor, IFPL accepts legal responsibility for the contents of such analyses or reports to such persons only to the extent as required by law. Please note that only certain security(ies) herein are available to all investors, while the rest are only available for certain persons to invest in, such as Accredited Investors (as defined in the Securities and Futures Act) or one who invests at least S$200,000 (or its equivalent currency) per transaction. To qualify as an Accredited Investor, one needs to submit a declaration form and certain relevant supporting documents, according to iFAST’s prevailing policies and procedures.

    Please read our full disclaimers on the website at ( https://secure.fundsupermart.com/fsmone/policies/328125/investment-account-terms-&-conditions).

    iFAST Financial Pte Ltd (IFPL) (registered address: 10 Collyer Quay #26-01 Ocean Financial Centre Singapore 049315, Telephone: 6557 2000) holds the Financial Advisers Licence issued by the Monetary Authority of Singapore ('MAS') to conduct regulated activities of advising on securities, marketing of collective investment schemes and arranging of any contract of insurance in respect of life policies, other than a contract of reinsurance and the Capital Markets Services Licence issued by the MAS to conduct regulated activities of dealing in securities and providing custodial services for securities. While IFPL has made every effort to ensure the independence of the report's contents, IFPL's nature of business is such that IFPL and its connected and associated entities together with their respective directors, officers and staff may be involved in providing dealing or investment-related services in the abovementioned securities, and have taken or may take positions in the securities mentioned in this report, and may also act as the principal for any buy or sell trades.


    Ways to Invest with FSM Global
    Why FSM Global
    Don't have an account with us?
    Open an account here
    Need Financial Advice?
    Make an appointment
    Related Articles More

    We use cookies If you close this message or continue to use this site, you will consent to the use of Cookies, unless you choose to disable them. Click on our Privacy Policy to understand more.