Allianz Motor Protect Car Insurance Review: Lightweight But Adequate Coverage, Easy On The Wallet

Alevin Chan
Last updated Dec 22, 2021

Allianz Motor Protect car insurance may be lightweight, but does a good job covering the needs of the average driver. Those following a ‘just-enough is good enough’ approach are likely to be satisfied.

When it comes to insurance coverage, more does not always equal better. There is no point paying higher premiums to hedge against a scenario that you may just never encounter. 

If you find yourself agreeing with the previous statement, the Allianz Motor Protect car insurance plan might just be the right one for you. 

Unlike some other plans, Allianz Motor Protect goes for a stripped-down approach, focusing on covering the most common scenarios that average drivers are likely to encounter. What results is a lightweight yet adequate plan, and one that is easy on the wallet to boot. 

Is this bare-bones approach to car insurance the right one for you? Does the Allianz Motor Protect miss out on anything that you might find important?

What do you need to know before you sign up for this policy? Read on to find out.

Pros and cons of Allianz Motor Protect car insurance

  ProsCons
Lifetime warranty on repairsMost benefits available only for Comprehensive tier
Choice of complimentary courtesy car or transport allowanceHave to pay extra for NCD protector
New for old car replacement, optional Agreed Value Payout
Complimentary 24/7 emergency assistance
Low, affordable premiums

Key features of Allianz Motor Protect 

#1: Covers most common scenarios

Allianz Motor Protect isn’t the most robust car insurance plan, especially compared to some others out there. In fact, it is rather bare-bones. 

However, some drivers who don’t like complicating things will find this plan to be a refreshing change, as it only focuses on the benefits and coverage most commonly needed. 

This means that in the absence of any specific needs or special benefits, most drivers will likely find this to be a lightweight but competent plan that should serve their needs well.  

#2: Low unnamed driver excess 

Another advantage of signing up for Allianz Motor Insurance is that you will enjoy a low unnamed driver excess rate of just S$500. 

There’s one caveat though: this lowered rate only applies if the driver in question is 27 or older, and has more than one year of driving experience. 

If these conditions are not met, the unnamed driver’s excess stands at S$2,500, so maybe keep the car keys away from your popular young son? 

#3: Lifetime guarantee for accident repairs 

In case you’re having reservations about using Allianz’s authorised workshops to repair your car after an accident, know that you’ll be covered by a lifetime guarantee for accident repairs

This gives you the assurance that any repairs carried out will last the distance. If they don’t, at least you won’t have to pay out of your pocket to address it. 

#4: Optional Agreed Value Payout at Total Loss

This is a rarely seen benefit that’s worth mentioning.

Allianz Motor Protect offers what it calls Agreed Value Payout at Total Loss, which pays you the value agreed at the start of the policy year, in the event of total loss of your car. 

This is beneficial because it helps to preserve the value of your car against monthly depreciation. 

With this benefit, you would receive the same amount whether your car gets stolen three months in, or during the twelfth month. Without this benefit, the later in the policy year you make your claim, the lesser you will receive. 

Agreed Value Payout at Total Loss is available as an optional add-on with no additional premium under the Comprehensive plan only. 

Important exclusions to note

Take note of these exclusions if you’re considering signing up for Allianz Motor Protect. For the full list of exclusions and other important information, read the policy here.

Allianz is not liable to pay for:

  • Fraudulent or exaggerated claim
  • Claims arising from influence of drugs, alcohol and other intoxicating substances
  • Claims arising from unlawful purposes or attempted unlawful purposes
  • Wear and tear of vehicle, including tires and rims
  • Use for hire, reward, racing or similar purposes
  • Failure to take precaution 
  • Any intentional or willful act

For whom is Allianz Motor Protect best suited?

Allianz Motor Protect is a no-fuss car insurance plan with attractively low premiums. In exchange, you’ll get coverage for almost all the areas you’ll likely need, but not very much else beyond that. 

You can attempt to expand your coverage with optional add-ons – these include No-Claims Discount (NCD) protector, free choice of repair workshop, and personal accident cover – but only the NCD protector is somewhat critical. 

Choosing your own workshop is only important if you’re driving a top-end luxury or sports car, and you can get your own personal accident plan, which may prove more to confer wider protection.   

Hence, Allianz Motor Protect is best suited for drivers who are seeking low-cost car insurance that gets the job done, without paying for additional perks that may only be situationally useful.

Plan tiers, premiums and latest promotions

What plan tiers are available for Allianz Motor Protect?

The following table contains a summary of Allianz Motor Protect. There are three tiers for you to choose from. 

For the full plan details, please refer to the product factsheet.

Item
Third-party only
 
Third-party, fire and theft

Comprehensive
Damage to third-party propertyUp to S$5 millionUp to S$5 millionUp to S$5 million
Death or bodily injuryUnlimitedUnlimitedUnlimited
Legal representation and defenceUp to S$3,000 per accidentUp to S$3,000 per accidentUp to S$3,000 per accident
Unnamed driver excessUnder 27 years old, or with less than 1 year’s driving experience: S$2,500
27 and above, with 1 or more year’s driving experience: S$500
Under 27 years old, or with less than 1 year’s driving experience: S$2,500
27 and above, with 1 or more year’s driving experience: S$500
Under 27 years old, or with less than 1 year’s driving experience: S$2,500
27 and above, with 1 or more year’s driving experience: S$500
Loss or damage to car by fire and theft onlyn/aUp to market valueUp to market value
Loss or damage to car by accident or theftn/an/aUp to market value
New for old car replacement (less than 2 years old)n/an/aUp to market value
Unlimited windshield repairs (S$100 excess per claim)n/an/aUp to market value
Lifetime warranty on repairsn/an/aIncluded
24/7 roadside assistancen/an/aIncluded
Daily transport allowance n/an/aS$50/day up to 10 days
Courtesy Carn/an/aUp to 10 days per accident
Agree Value Payout at Total Loss(optional at no cost)n/an/aPayout the agreed value at the start of every policy year

How much does Allianz Motor Protect cost?

  Premiums(before discount)Third-party onlyThird-party, fire and theftComprehensive
Yearly* S$1,191.43S$1,350.10S$1,606.68

Allianz Motor Protect is one of the most affordable car insurance policies on the market. Premiums range from just under S$1,200 for third-party only cover, and slightly over S$1,600 for the Comprehensive tier. 

These premiums are for a 28-year-old single male driver with two years’ driving experience and 20% NCD, driving a Toyota Vios registered in 2018 – in other words, someone regarded as a high-risk driver. 

This risk classification is usually reflected in the premiums.  

But as you can see in this case, the plan remains wallet-friendly. For this reason, this plan is a strong option for younger drivers. 

What promotions are there for Allianz Motor Protect? 

Unfortunately, there aren’t any ongoing promotions for Allianz Motor Protect car insurance plan.

How to claim? 

If you need to make a claim against your policy, follow these steps.

  • Call 995 or 999 if anyone is injured.
  • Exchange particulars with the other party involved.
  • Take notes and photographs of the damage caused to the vehicles, including licence plates.
  • Take pictures of the accident location capturing the surroundings and the vehicles in their stationary position before moving them out.
  • Report to the nearest approved workshop with your vehicle within 24 hours. If your vehicle cannot be driven, call 1800-222-1818 for towing service.
  • Download and submit the claims form from the Allianz website, and wait for further updates.

Note: The content of this article is presented for information purposes only. Always speak to a certified financial adviser or qualified person before buying the product. If you choose not to seek advice from a qualified adviser, you should consider whether the product is suitable for you. Buying an insurance product that is not suitable for you may impact your ability to finance your future needs.

If you decide that the policy is not suitable after purchasing the policy, you may terminate the policy in accordance with the free-look provision, if any, and the insurer may recover from you any expense incurred by the insurer in underwriting the policy.

Protected up to specified limits by SDIC. As buying a life insurance policy is a long-term commitment, an early termination of the policy usually involves high costs and the surrender value, if any, that is payable to you may be zero or less than the total premiums paid. You should seek advice from a financial adviser before deciding to purchase the policy. If you choose not to seek advice, you should consider if the policy is suitable for you.

This advertisement has not been reviewed by the Monetary Authority of Singapore.


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By Alevin Chan
An ex-Financial Planner with a curiosity about what makes people tick, Alevin’s mission is to help readers understand the psychology of money. He’s also on an ongoing quest to optimise happiness and enjoyment in his life.


Alevin Chan December 22, 2021 80327