Wondering if you can change your car insurance before renewal date? Can coverage be transferred to a new vehicle? What happens if you decide to cancel your policy?

These are some of the most common questions Singapore drivers ask when reviewing their coverage options. Whether you’re looking for better protection, lower premiums, or simply changing vehicles, understanding the rules around cancellation and switching is important.

While car insurance is mandatory in Singapore, drivers are generally allowed to cancel an existing policy. However, if you intend to continue driving, you’ll need valid coverage in place. Driving without insurance can result in fines, disqualification from holding or obtaining a driving license, and other legal consequences.

Before making a decision, here are the answers to some frequently asked questions about cancelling, switching, and managing your coverage in Singapore.

Can you cancel your car insurance anytime?

Yes, you can generally cancel your policy at any time. However, before doing so, it is important to consider whether you still require coverage and what the financial implications may be.

For example, if you are planning to stop driving and switch to public transport, you may wish to check whether cancellation fees apply and whether you are eligible for a refund of any unused premium. As terms may vary between insurers, it is best to review your policy documents or contact your insurer directly for clarification.

If you intend to continue driving, make sure alternative coverage is arranged before cancelling your existing policy. To avoid any gaps in protection, coordinate the cancellation date with the start date of your new plan and inform both insurers accordingly. This helps ensure you remain covered and can continue driving legally in Singapore.

Pro Tip! You can save up to 30% yearly rebate with Private Car Insurance from Tiq by Etiqa based on how much you drive. Learn more

Can you cancel your car insurance online?

In most cases, yes. Insurers typically require policyholders to submit a written cancellation request, but this can often be done online by uploading the necessary documents through the insurer’s website. Alternatively, you may be able to submit your request by mail or through your agent.

Depending on the insurer, you may also be contacted to confirm your request before it is processed. The good news? The process is usually straightforward and hassle-free. No sweat!

Is there a refund if you cancel your car insurance before your policy expires?

It depends on your insurer and the terms of your policy. In many cases, if you cancel before the expiry date, you may be eligible for a refund of the unused portion of your premium. However, the amount refunded can vary, and some insurers may deduct administrative or cancellation charges.

For this reason, some drivers choose to switch coverage closer to their renewal date to minimise additional costs. If you’re considering cancelling, review your policy documents or check with your insurer to understand how refunds are calculated. Do note that refunds may not be available if you have already made a claim during the policy period.

If you’re an existing Tiq customer, we’ll send you a reminder when your renewal date is approaching, giving you time to review your coverage, compare your options, and decide on your next steps before your policy expires.

Can you transfer your existing car insurance to a new car?

Congratulations on getting a new car! Unfortunately, it is not possible to transfer your existing car insurance to a new car because the car make, model, age, etc. will usually be different. This is a good opportunity though to reassess your protection needs and consider switching car insurer to get the car insurance that best suits your needs.

Pro Tip! Private Car Insurance at Tiq by Etiqa offers three levels of cover with optional add-ons so you only pay for what you need. Practical, affordable and reliable!

Is there a record of cancelled insurance? How long does it stay on record?

In case you are worried about being penalised as a “fickle-minded” car owner, you can be rest assured that it is absolutely fine to cancel your car insurance or switch car insurers to get a better deal. You may need to check your policy documents to ensure that there’s no early cancellation charge fee (see 1st point) that will eat into your potential savings.

Also, note that there are situations where your insurer may cancel your policy if they suspect there’s foul play or illegal modifications. Just like all binding contracts, things go both ways. The specifics are available in your policy documents.

Does cancelling or switching your car insurance affect NCD?

Of course not! Rest assured that your NCD (no-claim discount) remains unchanged when you cancel or switch car insurance. Your new car insurer will assess your NCD eligibility and give you a quote accordingly.

Did we mention that you can enjoy an extra 5% discount for being demerit-free​ with our Private Car Insurance? If you are a parent, you also get up to S$300 worth of free coverage for child seat. Learn more

Can you switch car insurance in the middle of a claim?

We’re sorry to hear that you are in the middle of a claim. Generally, it is not possible to switch car insurance as your current insurer is still processing your claims. You may want to consider the remaining period of your car insurance after the claim has been processed. Note that there is usually no refund if you have made a claim on your car insurance.

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Get a free quote for Private Car Insurance now!

It’s natural to look for the best motor insurance coverage but what’s best for others may not work for you. The best car insurance for you is the one that meets your budget and needs. Before you cancel or switch your car insurance, it helps to keep a lookout on good deals and see what others say.

Tiq’s Private Car Insurance offers affordable and reliable car coverage that fits your lifestyle. Beyond general coverage, you can enjoy a fast claims approval if you are making an own-damage motor claim under S$5,000. We even cover you across all of West Malaysia and even Thailand as long as it is within 80km of Malaysia’s borders! Perfect for those who are resuming weekend trips in Malaysia!

There are potential perks to switching your car insurance if the current one is getting pricier or no longer meets your needs. Get a free quote for Private Car Insurance now!

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Information is accurate as at 28 June 2022. This content is for reference only. 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.

Tiq by Etiqa Insurance Pte. Ltd.

A digital insurance channel that embraces changes to provide simple and convenient protection, Tiq’s mission is to make insurance transparent and accessible, inspiring you today to be prepared for life’s surprises and inevitabilities, while empowering you to “Live Unlimited” and take control of your tomorrow.

With a shared vision to change the paradigm of insurance and reshape customer experience, Etiqa created the strong foundation for Tiq. Because life never stops changing, Etiqa never stops progressing. A licensed life and general insurance company registered in the Republic of Singapore and regulated by the Monetary Authority of Singapore, Etiqa is governed by the Insurance Act and has been providing insurance solutions since 1961. It is 69% owned by Maybank, Southeast Asia’s fourth largest banking group, with more than 22 million customers in 20 countries; and 31% owned by Ageas, an international insurance group with 33 million customers across 16 countries.

Discover the full range of Tiq online insurance plans here.