Finding The Best Toyota Car Insurance

When it comes to car ownership in Singapore, Toyota stands out as the vehicle of choice for many residents with a total of 141,447 Toyota Vehicles out of 660,339 cars based on 2024 statistics, cementing its status as the go-to brand for drivers across the island. Renowned for their reliability, fuel and efficiency, Toyota cars have gained the trust of Singaporeans, making them a popular option for first time car owners, daily commuters and families.  

In a bustling city where road conditions can be unpredictable with a high number of vehicles on the road daily, it’s inevitable that traffic accidents may happen thus having a comprehensive car insurance is essential. This coverage not only protects the car itself but also safeguards drivers from hefty medical bills and liability expenses arising from accidents. 

As the preferred choice for many Singaporeans, Toyota cars combined with the right insurance coverage create a reliable and secure driving experience. Join us as we explore the best Toyota car insurance options available to ensure your peace of mind on the road. 

*Statistics provided are accurate as of 14 Mar 2025. 

Car Insurance Comparison With Driver Profile 

Our car insurance analysis will be using the driver profile of a 40-year-old male driver with 10 years of driving experience, with no claims in the past 3 years and a 50% No Claim Discount (NCD).   

Insurance Pricing Analysis 

Most Affordable Premium 

Given the rising costs of COE and vehicles these days, many individuals are investing significant amounts to purchase a car for their personal convenience and transportation needs. With monthly payments to consider, it’s essential to find an affordable car insurance policy that offers key coverage while fitting within your budget.  

Among the various insurance providers we work with, Etiqa and Ergo offer some of the most competitive premiums, priced at under $900 for Any Workshop plans, allowing drivers the freedom to choose their preferred repair shops. Additionally, both providers also have more budget-friendly options available starting from $600, but drivers will need to have their vehicles serviced at one of the Authorized Workshops specified by the insurers. 

Lowest Excess Providers 

The excess in car insurance generally refers to the amount you, as the policyholder, must pay out of pocket before your insurance company steps in to cover the remaining costs associated with a claim. This excess represents your fixed contribution towards repairs and damages incurred from an accident or other covered events. For Toyota car owners, understanding the excess is crucial, as it can impact your overall out-of-pocket costs when an incident occurs. 

Both Ergo and EQ provide attractive options with the lowest excess set at $500 under their Any Workshop Plan which comes with the flexibility for drivers who want the freedom to choose any repair shop of their liking. Additionally, if drivers opt for Authorized Workshops, the excess for these insurance providers will reduce to even $0. 

Best For Young Drivers 

Many new drivers often choose Toyota as their first car. However, due to their age and inexperience on the road, young drivers are considered higher risk, which can lead to a greater likelihood of accidents and claims situations. Therefore, it's crucial to find the right insurance tailored specifically to both Toyota vehicles and the younger age group of drivers. Ergo meets the needs of younger drivers by offering car insurance coverage starting from under 22 years old, while AIG provides options for those under 23 years old. 

Best Loss Of Use/Courtesy Cars 

Loss of use or courtesy car coverage is an important aspect for Toyota car owners and should not be overlooked. This type of insurance coverage activates when your vehicle requires repairs due to an accident or damage that falls under your policy. When your car is in the shop, this coverage ensures that you aren’t left without transportation during that time. With loss of use coverage, drivers may receive monetary compensation for a set period or be provided with a replacement vehicle. This feature is particularly beneficial as it allows you to maintain your daily routine without significant disruptions.  

When comparing coverage options, AIG stands out by offering an impressive courtesy car benefit of up to 30 days, ensuring that you have a reliable vehicle for an extended period if needed. On the other hand, Ergo provides a strong loss of use benefit, offering $100 per day for up to 10 days. This means that if your vehicle is unavailable due to repairs, you’ll receive financial support that can help ease the burden of transportation costs.  

New For Old Replacement 

When it comes to new-for-old car replacement, your insurance provider will replace your vehicle with one that matches its age, mileage, and model if it has been determined to be beyond repair. This ensures that you receive a vehicle that is as close as possible to your original one. Among the various insurers, AIG stands out by offering an impressive new-for-old car replacement coverage period of 36 months. Following closely behind, Allianz offers a solid 24 months of new-for-old car coverage, giving policyholders peace of mind during that timeframe as well. 

Medical & Personal Accident 

With the unpredictability of accidents that can happen at any time, the risk of being involved in a car accident is ever-present. Such incidents not only pose a danger to safety but can also result in substantial medical bills that can overwhelm drivers. Fortunately, car insurance plays a vital role in safeguarding Toyota drivers from these potential financial burdens, offering much-needed protection against unexpected medical expenses. Among the various insurance options available, Etiqa and MSIG stand out as top providers, delivering medical coverage that starts at $1,000 and can extend up to $100,000 for personal accident protection. This ensures that drivers have the peace of mind they need while on the road. 

Benefits of Any Workshop Plans

Benefits of Authorised Workshop Plans 

*Premiums are accurate as of 14th March 2025.

With Toyota's strong reputation among Singaporean drivers, selecting a comprehensive and tailored insurance policy can offer not just protection for your vehicle, but also peace of mind against the myriad of unpredictable road challenges that may arise.  

Throughout our analysis, we’ve highlighted the key considerations when it comes to getting a car insurance including affordability, excess amounts and other more. With competitive options available in the market, researching and understanding of your individual needs and getting a policy that fits your requirement as well as budget.  

As you embark on your journey of choosing the right insurance for your Toyota, do contact us to assist you!