• OCBC Car Insurance

    OCBC offers a choice of two comprehensive car insurance products that will give you peace of mind from the second you take your car out of the driveway.

    Type of Car Insurance Products:

    • AutoWise.
    • SmartDrive.

    AutoWise:

    OAC AutoWise is a motor insurance policy that provides cover for accidental damage or loss of your vehicle. Additionally, the policy also offers cover for any legal liabilities if incurred from property damage or third party injury.

    Features and Benefits:

    • Compensation for death or physical disability due to an accident with personal accident cover of up to S$50,000.
    • Coverage for the cost of repair/replacement of broken glass or windscreen with windscreen cover which provides unlimited reinstatements + S$100 excess for every claim.
    • Loss of use, an optional rider that will provide compensation when you are unable to use your vehicle when still being repaired due to an accident and covered by your policy. Under the loss of use rider, you will receive S$80 every day for up to 7 days.

    Types of AutoWise motor insurance plans:

    • Comprehensive Authorized Workshops.
    • Comprehensive Any Workshop.
    • Third Party Fire & Theft.
    • Third Party only.

    Coverage provided under the different AutoWise motor insurance plans:

    • Comprehensive Authorized Workshops provides cover for the following:
      • Accidental damage to an insured vehicle or accidental loss of a vehicle up to market value.
      • Unlimited cover for bodily injury or death.
      • Up to S$5 million due to damages to property.
      • Up to S$500 in reimbursement of medical expenses.
      • Up to S$50,000 cover as personal accident benefit.
      • Coverage for towing charges after an accident
      • Own damage excess at authorized workshop. (Covered and Waiver of Standard Excess apply).
      • Windscreen cover.
      • Loss of use cover.
      • NCD protector.
    • Comprehensive Any Workshop provides cover for the following:
      • Accidental damage to an insured vehicle or accidental loss of a vehicle up to market value.
      • Unlimited cover for bodily injury or death.
      • Up to S$5 million due to damages to property.
      • Up to S$500 in reimbursement of medical expenses.
      • Up to S$50,000 cover as personal accident benefit.
      • Coverage for towing charges after an accident.
      • Windscreen cover.
      • Own damage excess at authorized workshop. (Covered and Waiver of Standard Excess apply).
      • Own damage excess at non-authorized workshop.
      • Own damage excess at Dealers’ workshop.
      • Loss of use cover.
      • NCD protector.
    • Third Party Fire & Theft provides cover for the following:
      • Accidental damage to an insured vehicle or accidental loss of a vehicle. (Cover up to market value).
      • Unlimited cover for bodily injury or death.
      • Up to S$5 million due to damages to property.
      • NCD protector.
    • Third Party only provides cover for the following:
      • Unlimited cover for bodily injury or death.
      • Up to S$5 million due to damages to property.
      • NCD protector.

    SmartDrive:

    AXA SmartDrive provides coverage up to the market value of your vehicle instead of the sum assured, thereby providing you with reimbursement up to the market value of your car in case of total loss on account of severe damage or theft.

    Features and Benefits:

    • Compensation for death or physical disability due to an accident with personal accident cover of up to S$30,000.
    • Coverage for the cost of repair/replacement of broken glass or windscreen with windscreen cover which provides unlimited reinstatements with no excess.
    • Loss of use, an optional rider that will provide compensation when you are unable to use your vehicle when still being repaired due an accident and covered by your policy. Under the loss of use rider, you will receive S$50 every day for up to 5 days if the repair will take more than 4 days.

    Types of SmartDrive motor insurance plans:

    • Comprehensive with AXA Premium Workshops.
    • Comprehensive with any workshop.
    • Third Party Fire & Theft.
    • Third Party Only.

    Coverage provided under the different SmartDrive motor insurance plans:

    • Comprehensive with AXA Premium Workshops provides cover for the following:
      • Accidental damage to an insured vehicle or accidental loss of a vehicle. (Cover up to market value).
      • Unlimited cover for bodily injury or death.
      • Up to S$5 million due to damages to property.
      • Up to S$500 in reimbursement of medical expenses.
      • Up to S$30,000 cover as personal accident benefit.
      • Coverage for towing charges after an accident.
      • Own damage excess at authorized workshop. (Covered and Waiver of Standard Excess apply).
      • Windscreen cover with unlimited reinstatements + no excess.
      • Loss of use cover.
      • NCD protector.
    • Comprehensive with any workshop provides cover for the following:
      • Accidental damage to an insured vehicle or accidental loss of a vehicle up to market value.
      • Unlimited cover for bodily injury or death.
      • Up to S$5 million due to damages to property.
      • Up to S$500 in reimbursement of medical expenses.
      • Up to S$20,000 cover as personal accident benefit.
      • Coverage for towing charges after an accident.
      • Windscreen cover with unlimited reinstatements + no excess.
      • Own damage excess at authorized workshop. (Covered and Waiver of Standard Excess apply).
      • Own damage excess at non-authorized workshop.
      • Own damage excess at Dealers’ workshop.
      • Loss of use cover.
      • NCD protector.
    • Third Party Fire & Theft provides cover for the following:
      • Accidental damage to an insured vehicle or accidental loss of a vehicle. (Cover up to market value).
      • Unlimited cover for bodily injury or death.
      • Up to S$5 million due to damages to property.
      • Coverage for towing charges after an accident.
      • NCD protector.
    • Third Party Only provides cover for the following:
      • Unlimited cover for bodily injury or death.
      • Up to S$5 million due to damages to property.
      • NCD protector.

    No Claim Discounts Offered by OCBC

    OCBC determines your insurance premium on the basis of your NCD, which is calculated according to the number of claims you made under the current policy and previous policies. Take a look at the table below to find out how OCBC determines your NCD:

    Zero claims made for Your NCD
    One year 10%
    Two years in line 20%
    Three years in line 30%
    Four years in line 40%
    Five or more years in line 50%

    However, if you make one or more claims under your OCBC car insurance policy and you don’t have NCD protector, OCBC will start adjusting your NCD. If your NCD is 40% or 50% and you file a claim, your NCD will come down to 10% or 20%, respectively. If your NCD is 30% or less, your NCD will be cancelled if you make a claim. Accordingly, your premium will also change at the time of next renewal. Check out how it works:

    Your current NCD Your NCD at the time of renewal
    When you make one claim When you make more than one claim
    10% 0% 0%
    20% 0% 0%
    30% 0% 0%
    40% 10% 0%
    50% 20% 0%

    What does OCBC Car Insurance Cover?

    Coverage type AutoWise
      Comprehensive insurance (authorised workshops only) Comprehensive insurance (any workshop of your choice) Third party only Third party, fire and theft
    Loss of or damage to your vehicle in an accident Yes (Up to vehicle’s market value) Yes (Up to vehicle’s market value) No Yes (Up to vehicle’s market value)
    Death of or bodily injuries to third parties Yes (unlimited cover) Yes (unlimited cover) Yes (unlimited cover) Yes (unlimited cover)
    Third party property damage Yes (Up to S$5 million) Yes (Up to S$5 million) Yes (Up to S$5 million) Yes (Up to S$5 million)
    Third party medical expenses Yes (Up to S$500) Yes (Up to S$500) No No
    Third party personal accident benefits Yes (Up to S$50,000) Yes (Up to S$50,000) No No
    Towing charges for the insured vehicle Yes Yes No No
    Windscreen cover Yes (Unlimited reinstatement, with an excess of S$100) Yes (Unlimited reinstatement, with an excess of S$100) No No
    Loss of use Yes (S$80 a day for a maximum of seven days) Yes (S$80 a day for a maximum of seven days) No No
    NCD protector Yes Yes Yes Yes
    Coverage type AXA SmartDrive
      Comprehensive insurance (AXA authorised workshops only) Comprehensive insurance (any workshop of your choice) Third party only Third party, fire and theft
    Loss of or damage to your vehicle in an accident Yes (Up to vehicle’s market value) Yes (Up to vehicle’s market value) No Yes (Up to vehicle’s market value)
    Death of or bodily injuries to third parties Yes (unlimited cover) Yes (unlimited cover) Yes (unlimited cover) Yes (unlimited cover)
    Third party property damage Yes (Up to S$5 million) Yes (Up to S$5 million) Yes (Up to S$5 million) Yes (Up to S$5 million)
    Third party medical expenses Yes (Up to S$500) Yes (Up to S$500) No No
    Third party personal accident benefits Yes (Up to S$30,000) Yes (Up to S$20,000) No No
    Towing charges for the insured vehicle Yes Yes No Yes
    Windscreen cover Yes (Unlimited reinstatement; no excess) Yes (Unlimited reinstatement; no excess) No No
    Loss of use Yes (S$50 a day for a maximum of five days, if repairs take at least four days) Yes (S$50 a day for a maximum of five days, if repairs take at least four days) No No
    NCD protector Yes Yes Yes Yes

    OCBC Car Insurance Exclusions

    Check out a few general exclusions that are applicable to these policies:

    • Damage caused when the accident happened outside the geographical area. OCBC car insurance policies cover you only in Singapore, West Malaysia, and certain parts of Thailand.
    • Damage caused to the vehicle if the driver was not authorised under the policy or was under the influence of alcohol or drugs.
    • Loss/damage caused to the vehicle due to an act of war, terrorism, or riots.
    • Damage caused to the vehicle when it was not registered under the Road Traffic Act 1985.
    • Damage caused to the vehicle by nuclear radiations.

    How to Make a Claim

    Call OCBC’s 24/7 hotline at (+65) 6535 0511 within 24 hours of the accident. If possible, call from the accident scene for any advice you may need for reporting the accident and for towing assistance. If your car is driveable, you can also go to any of the accident reporting centres. Either way, make sure you report the incident within 24 hours to avoid penalty on your NCD or claim rejection.

    If possible, leave your damaged vehicle at the accident reporting centre, which also functions as an authorised workshop. If the damage was caused by negligence of a third party, the authorised workshop will also help you file a claim against the responsible person. In case the third party is a Malaysian driver who is driving a vehicle registered and insured in Malaysia, you will have to settle the claim directly with the Malaysian insurer.

    Applying for OCBC Car Insurance:

    • AutoWise: To get a quote and apply for AutoWise motor insurance or file a claim, call the bank on the respective numbers provided on the Car Insurance web page of the official OCBC Singapore website.
    • SmartDrive:
      • To get a quote and apply for SmartDrive, call the bank on the number provided on the Car Insurance web page of the official OCBC Singapore website.
      • For claims, you can apply online on the link provided on the Car Insurance web page of the official OCBC Singapore website. You will be directed to a third party website where you can file a claim online.

    Frequently Asked Questions:

    1. Can AutoWise be used to insure a commercial vehicle?

      No. AutoWise can only be used to insure a private vehicle.

    2. What is NCD?

      NCD refers to “No Claims Discounts” and is used to lower a policy premium. Each policy year if 0 claims are made, the NCD will increase by 10% every year (up to a maximum of 50%). All insurers in the industry recognize NCD.

    3. What does “Excess” mean?

      Excess refers to the first amount of a claim that will be paid by the insurer (you). For instance, if you have an excess of S$500 and the cost for total repair is S$2500, you (the insured) will have to pay the excess amount of S$500 and your insurer will pay the remaining amount of S$2,000.

    4. After applying for an OCBC Car Insurance, how will I receive my policy contract?

      After successful application for an OCBC Car Insurance, the policy documents will be mailed directly to the mailing address provided on your application form.

    5. How do I renew my motor insurance policy?

      You will receive a renewal notice from the bank 2 months before the expiry of your policy. You can then contact the bank and renew your contract accordingly.

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