It’s no secret that purchasing a car in Singapore is no easy feat – along with the cost of the car itself (Open Market Value), there’s the Certificate of Entitlement (COE), Registration fee, Dealer’s cut and the list goes on and on. Apart from being the most expensive car market on the face of the earth, Singapore is notorious for also having a high cost of owning a car as well. As if these insanely high prices aren’t enough, owning a car comes with its own set of costs on top of that: from costs that are “seen”, as well as “hidden costs”, owning a car in Singapore is a monumental undertaking.
Insurance coverage in Singapore is compulsory for all motorists, which means that this is a must for all drivers and car owners.
Budget Direct Singapore has produced an estimate of insurance costs for a