FWD Car Insurance Review (2024): A Plan with Lifetime NCD Guarantee

Alevin Chan

Alevin Chan

Last updated 18 December, 2022

FWD Car Insurance covers the essential basics while bundling in quality-of-life features. Here’s why this auto insurance policy may be ideal for you. 

Auto insurers encourage safe driving by dangling a No Claims Discount (NCD) that can slash your premiums by as much as 50%. To qualify, you must have an accident-free record for at least five years. However, it takes just one accident to lose a large chunk of your NCD, if not completely. 

Thus, maintaining your NCD is out of your control given that accidents are unpredictable (that’s why they’re called ‘accidents’!).

Luckily, FWD Car Insurance offers a lifetime NCD guarantee, which essentially prevents you from losing your premium discounts no matter how many accidents you get into, as long as you remain an active policyholder.

Are the potential premium savings worth the ongoing commitment?

SingSaver reviews FWD Car Insurance, revealing its pros and cons, key features, exclusions, and more.

Pros and cons of FWD Car Insurance

Pros Cons
Lifetime No Claims Discount guarantee Authorised workshops only (must purchase add-on for a workshop of your choice)
Coverage extends to West Malaysia and parts of southern Thailand  
Complimentary courtesy car (under the Executive and Prestige plans):For up to three consecutive months if the car is damaged beyond repair or permanently lostIf the car is damaged in an accident until repairs are completed   
Interest-free instalment payments with OCBC MasterCard or VISA credit cards for premiums above $500  

FWD car insurance has a lot to offer drivers. But how does it stack up against other top providers? 

The best way to find out is to compare plans side-by-side. Click on 'Compare Best Car Insurance' now, and you can easily see how FWD competes in price and coverage, helping you find a plan that best suits your driving needs at the lowest cost!

 

Score up to S$300 cashbackS$280 petrol vouchers or up to 23% in discounts on your car insurance premiums when you purchase it via SingSaver.

Plus, unlock an exclusive chance to win S$500 worth of FREE PARKING when you buy now! Promotion ends 30 June 2024. T&Cs apply. 

 


Key features of FWD Car Insurance

#1: Lifetime No Claims Discount

If you renew your FWD Car Insurance policy and have a 50% No Claim Discount (NCD) at the time of enrolment, you are automatically eligible for the Lifetime No Claims Discount benefit. 

This benefit preserves your NCD at 50% regardless of how many ‘at fault’ claims made against you. The caveat is that you must remain insured with FWD and hold a valid Singaporean driver’s licence.  

This is the most attractive feature of FWD Car Insurance because it allows you to enjoy maximum savings regardless of accidents.

#2: Covers road trips in West Malaysia (and parts of Thailand) 

FWD Car Insurance offers a rather generous geographical cover, extending all across West Malaysia and parts of southern Thailand. 

As such, you and your vehicle will be protected in these areas. You can opt to have road trips up north without a separate motor insurance policy. However, make sure the total coverage offered is sufficient for your trip, and purchase any add-ons deemed necessary. 

You may opt to include the following as part of the overseas booster: 

  • Additional S$500 for towing (in case you want your vehicle towed all the way back to SIngapore) 
  • Additional repatriation benefit
  • Additional emergency medical expenses to send you back to Singapore   

#3: Automatic insurance for trusted drivers

The Executive and Prestige plans offer automatic coverage for drivers you trust without including their names in the policy beforehand. You may also add this as a rider under the Classic plan.  

In comparison, some policies may require you to name all the people expected to drive your car, otherwise you’d have to pay a hefty excess, or face a completely void claim. This inclusion goes beyond mere convenience – it potentially saves you from a financial bind. 

#4: Offers a 12-month instalment payment 

You may opt to have a 12-month instalment plan instead of paying your car insurance policy in one go. This payment plan is offered on an interest-free basis if you have an OCBC MasterCard or VISA credit card and your premium being more than $500, which is quite helpful for those in need for an auto insurance renewal with low funds.  

#5: Offers a courtesy car under extensive conditions (for Executive & Prestige Plans)

The FWD Car Insurance Executive and Prestige recently enhanced their courtesy car benefit. Previously, they would provide a courtesy car for up to three consecutive months if the car is damaged beyond repair or permanently lost, which is still included in both plans today. 

But in addition to this benefit, they now offer a courtesy car if your car gets damaged in an accident for as long as its repair is completed. 

Important exclusions to note

Take note of these exclusions if you’re considering FWD Car Insurance. This policy does not cover the following: 

  • Depreciation (including effects from accidents), wear and tear, mechanical, electrical and/or structural breakdowns
  • Tyre/rim damage unless other car parts were also damaged by an accident covered by this policy
  • Claims if you or another driver does not have a valid driving licence, drives under suspension, or drives under the influence of drugs/alcohol
  • Any losses caused by damage to your car’s software or loss of software data 
  • Any losses caused by failure to take necessary precautions to protect property, and minimise claims under this policy, such as failing to follow manufacturer's recall

For the full list of exclusions and other important information, read the FWD policy booklet.

How can you benefit from FWD Car Insurance? 

FWD Car Insurance offers drivers a range of benefits to customise their coverage based on needs and budget. 

The Comprehensive Plan provides robust protection with key features like a courtesy car during repairs, minimising disruption to the driver’s routine post-accident. 

Within Comprehensive, the ‘Classic’ tier offers a stripped-down scope of cover without a courtesy car, a good lower-premium option for basic protection. 

Other customisation options include: 

  • You can choose a higher excess for lower premiums. But consider if you can afford the higher out-of-pocket costs if an accident occurs.
  • Third Party Only and Third Party Fire & Theft coverage types are available. These coverage types do not cover your car’s own damage. They are good for a more budget-friendly premium.

Plan tiers, premiums, and latest promotions

What are FWD Car Insurance’s plan tiers?

Below is a summary of FWD Car Insurance’s benefits from the Comprehensive option available in three tiers: Classic, Executive, Prestige.

You may also purchase policies that cover Third Party Only, or Third Party, Fire and Theft, if you do not require the full scope of coverage offered under Comprehensive.

For the complete plan details, please refer to the FWD’s policy documents.

Item Benefits (Comprehensive)
Workshop Approved workshop only
Repair or replacement if your car is damaged or written off due to accident, fire or theft Up to market value
Windscreen repairs and reinstatement (with S$100 excess per claim) Included
Liability for death or injury to third party Unlimited
Liability for damage to third-party property Classic: S$5 millionExecutive: S$5 millionPrestige: S$5 million
Medical expenses for you, authorised drivers, and passengers Classic: S$1,000Executive: S$3,000Prestige: S$5,000
Personal accident benefits  Classic- Driver: S$30,000- Passenger: S$10,000- Surviving children: S$250,000
Executive- Driver: S$50,000- Passenger: S$20,000- Surviving children: S$375,000
Prestige - Driver: S$75,000- Passenger: S$25,000- Surviving children: S$500,000
Accident towing charges Classic: S$300Executive: S$400Prestige: S$500
Excess Standard excess: From S$750 per claimYoung driver excess under 27: S$2,500
Optional benefits Increase standard excess to lower premiums
Waive young driver excess
Use of any workshop
Overseas booster- Mortal remains repatriation: S$50,000- Additional towing: S$500- Emergency expenses: S$1,000
No Claims Discount protector

How much does FWD Car Insurance cost?

Period Premiums (Comprehensive)
Yearly (before discounts) Classic: S$1,158.81
Executive: S$1,367.07
Prestige: S$1,435.69

The premiums above are generated for a single male driver in his mid-40’s driving a one-year-old Audi A3 Mild Hybrid with 50% No Claims Discount and no demerit points. 

You may have noticed that yearly premiums are quite high, despite the relatively safe profile of the driver. The likely reasons for these are:

  • The car used as an example is quite pricey, costing over S$200,000 at the time of writing
  • Hybrid cars may be more costly to insure 
  • NCD Protector is automatically included due to the driver having a 50% NCD, which might increase the cost a little 

Moreover, note that these premiums are for the three plan tiers available under the Comprehensive option, which is designed to have the widest scope of coverage offered. 

Again, those with a narrow range of needs may consider the Third Party Only, or Third Party, Fire and Theft, versions of this policy instead. 

FWD Car Insurance promos

The following promotions may help you decide whether to sign up with FWD Car Insurance or not:

  • Inherit No-Claims-Discount of up to 50%, if eligible
  • Gain 5% discount if you are demerit point-free

SingSaver Exclusive Offer: Use the promo code CAR10 to get a 10% discount when you apply now. Valid till 31 May 2024.  T&Cs apply.  

 

 

How to claim from FWD Car Insurance?

What to do after a car accident

In Case of Injury

  • If anyone is injured in the accident, call the police immediately.

If Your Car is Not Driveable

  • If you are unable to keep driving your car, call FWD’s 24-hour emergency hotline at +65 6322 2072.

If Your Car is Driveable

  • If you are able to keep driving your car, report your accident to FWD within 24 hours. You may do so at any car workshop on the Premium Workshops list.

At the Accident Scene

Do Not:

  • Do not move your car from the initial location of the accident.
  • Do not admit liability or make any offers to a third party.

Do:

  • Take photos of all the vehicles involved. The accident scene photos are to be enclosed when you lodge the accident report.
  • Jot down the registration numbers of all vehicles involved.
  • Exchange particulars with all drivers involved, including: names, NRIC, phone numbers, addresses and names of the insurance companies
  • Take note of any injured people, including their names and contact information.

After Leaving the Scene

  • Take your car to any car workshop on the Premium Workshops list and make the accident report within 24 hours or by the next working day.

Submitting a Motor Claim to FWD

Submitting a claim for FWD Car Insurance is straightforward and simple.

Here are 3 simple steps to do so:

  1. Download the FWD SG App on the App Store or Google Play Store
  2. Submit your claims within minutes using the FWD SG App
  3. FWD's dedicated claims assessor will get in touch with you on the next steps of the claims process.

You can find out the status of your claim by emailing FWD at motorclaims.sg@FWD.com or give them a call at +65 6820 8888.

 


In summary

FWD Car Insurance offers comprehensive coverage bundled with attractive benefits like lifetime NCD protection. Drivers who prioritise maintaining premium discounts (i.e. their NCDs), if accidents occur, should consider this policy. 

Before purchasing, compare FWD’s features and premiums against other top providers in Singapore. Comparing plans on SingSaver ensures you find the most suitable and cost-effective car insurance for your needs. 

So take a few minutes and compare quotes today - you could unlock exclusive promotions and save hundreds off your next car insurance renewal.

 

Score up to S$300 cashbackS$280 petrol vouchers or up to 23% in discounts on your car insurance premiums when you purchase it via SingSaver.

Plus, unlock an exclusive chance to win S$500 worth of FREE PARKING when you buy now! Promotion ends 30 June 2024. T&Cs apply. 

 

 

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.


Read these next:

10 Best Car Insurance Plans in Singapore
7 Cheapest Car Insurance Plans in Singapore
What to Look for in a Car Insurance When Driving to Malaysia
5 Things to Consider Before Buying Car Insurance in Singapore

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.

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