The 7 Best Business Insurance in Singapore

Best Business Insurance in Singapore

By Lance Teo

Are you looking for ways to protect the interests and assets of your business? If so, we strongly recommend getting your hands on the best business insurance in Singapore, as it’s a good place to start.

If you’re clueless as to where to avail of the best business insurance in Singapore, though, we have you covered. We looked all over the island in search of the best business insurance in Singapore that all business owners should check out.

So, without further ado, here’s our list of the best business insurance in Singapore that can definitely help your business grow.

1.  Provide Cover

Provide Cover's Homepage

BEST FOR  Wide Range of Insurance Plans
SERVICES Business Insurance and Personal Insurance
WEBSITE https://www.providecover.com/
ADDRESS Singapore
CONTACT DETAILS [email protected]
OPERATING HOURS Monday – Friday, 9:00 AM – 6:00 PM

If you’re looking for affordable business insurance, then you might want to check out Provide Cover. It’s one of the few insurance providers that offer wide-ranging coverage and comprehensive insurance packages for SMes.

Some of the things covered by their business insurance packages are fire damage, water damage, public utility repair, business interruption, and many more.

What’s more, Provide Cover is composed of a team of experienced insurance agents that will help you identify which plan is perfect for your business — which is why we consider it one of the best business insurance in Singapore.

Highlights

  • Competitive rates
  • Flexible tenure
  • Approachable agents

 

2.  Aviva

Aviva's Homepage

BEST FOR  Small Businesses
SERVICES Business Insurance and Personal Insurance
WEBSITE https://www.aviva.com.sg/business/sme-insurance/
ADDRESS 4 Shenton Way, #01-01 SGX Centre, Singapore 068807
CONTACT DETAILS +65 6827 7988
OPERATING HOURS Monday – Friday, 9:00 AM – 5:30 PM

As one of the top insurance companies in Singapore, Aviva protects small businesses through MyBenefit Plus — which is considered one of the best business insurance in Singapore. It’s famous for its coverage that extends from the owners to their employees.

More than that, MyBenefit Plus allows business owners to choose which benefits are best for their employees. All a business owner needs in order to avail it is a minimum of two regular employees.

Some of the benefits business owners can choose from are death coverage, personal accident coverage, medical benefits, dental benefits, and many more.

Highlights

  • Customisable plan
  • Medical coverage
  • Minimum of two employees

 

3.  Pacific Prime

Pacific Prime's Homepage

BEST FOR  Employee Benefits
SERVICES Business Insurance, Personal Insurance, Travel Insurance, Health Insurance, Home Insurance, and Car Insurance
WEBSITE https://www.pacificprime.sg/plans/business-insurance/
ADDRESS Cross Street Exchange #14-05, Cross St, 18, Singapore 048423
CONTACT DETAILS +65 6346 3781
OPERATING HOURS Monday – Friday, 8:00 AM – 7:00 PM

If you want business insurance that prioritises employees, then look no further than Pacific Prime Singapore. It’s one of the best business insurance in Singapore for employee coverage.

Some of the coverage of Pacific Price’s business insurance packages are health benefits, medical expenses, accident benefits, and even death expenses. If you have all these to offer to your employees, they’re guaranteed to stick with you for a long time.

Above all, Pacific Prime protects the property and assets of the business owner as well. Some of the perils covered are theft, fire damage, water damage, and earthquake damage, among others.

Highlights

  • Employee benefits
  • Asset protection

Customer Reviews 

Take a look at what its clients have to say about its services:

“I hold Pacific Prime Insurance Brokers in the highest regard as far as customer service goes, especially Jarett Mathew. You folks are top notch. Whether by phone or email, I get the information and answers I need in a prompt and courteous manner. Thanks again for the continued support in choosing an appropriate plan for my insurance needs.”

“It’s our first time engaging Pacific Prime and we are pleased with the overall experience from start to the final settlement of our preferred options. Both Jarrett and Gautam are wonderful and they have professionally shared their recommendations that suit our corporate needs. We appreciate that they are not aggressive in the whole process and what made the difference were their detailed advice/info, patience and clear understanding of our needs. Thumbs Up and a great partnership together.”

 

4.  AXA

AXA's Homepage

BEST FOR  Personal and Business Insurance
SERVICES Business Insurance, Travel Insurance, Car Insurance, Helper Insurance, and Personal Accident
WEBSITE https://www.axa.com.sg/buy/business-insurance/
ADDRESS 8 Shenton Way, #24-01 AXA Tower, Singapore 068811
CONTACT DETAILS +65 6880 4888
OPERATING HOURS Monday – Friday, 9:00 AM – 5:30 PM

AXA remains one of the top sources of the best business insurance in Singapore, providing protection to small business owners, their employees, and the families of their employees as well.

It’s among the few insurance providers that extend benefits to the loved one of a small business’s employee. Most of the benefits included are related to health and accident expenses, so rest assured that employees have nothing to worry about.

What’s more, AXA doesn’t forget to protect business owners as well. On top of the asset protection coverage, it also provides financial assistance in case a business is forced to temporarily halt their operations.

Highlights

  • Medical coverage
  • Employee’s family coverage
  • Asset protection
  • Financial assistance

 

5.  AIG

AIG's Homepage

BEST FOR  Comprehensive Insurance Coverage
SERVICES Business Insurance and Personal Insurance
WEBSITE https://www.aig.sg/
ADDRESS 78 Shenton Way, #09-16 AIG Building, Singapore 079120
CONTACT DETAILS +65 6419 3000
OPERATING HOURS Monday – Friday, 9:00 AM – 6:00 PM

If you’re seeking business insurance with wide and comprehensive coverage, then AIG comes highly recommended. It offers essential protection for both small and medium-sized businesses in Singapore.

What’s more, it’s used by a lot of freelancers and self-employed persons to protect their work and minimise business interruption. Employees of small businesses and startups are given medical benefits and accident coverage as well.

Some of the coverage options to choose from are burglary, machinery breakdown, inland transit, work injury compensation, and many more.

Highlights

  • Employee benefits
  • Medical expenses
  • Customisable plan

 

6.  Easy Insure

BEST FOR  Wide range of business insurances
SERVICES Keyman Insurance (Directors)
Keyman Insurance (Employees)
Buy Sell Agreement
Employer’s Liability Insurance
Employee Medical Insurance
Insurance Linked Retirement Plan (Employer)
Insurance Linked Retirement Plan (Employee)
Directors’ and Officers’ Liability Insurance (D&O)
Business Loan Insurance
Insured with Diabetes/High BP/Obesity
Financial Guarantee Bond
WEBSITE http://easyinsure.sg/
ADDRESS 80 Anson Road
Singapore 079907
CONTACT DETAILS Phone: +65 9188 4505
Email: [email protected]
OPERATING HOURS N/A

Easy Insure is known for creating tailor-fit insurances that meet your company’s needs and capabilities. With only a short inquiry, they’ll be able to provide you a comprehensive explanation of what best suits you and what insurance you’re most likely to benefit from.

There are different types of business insurances, including buy and sell agreement, employer’s liability insurance, and employee medical insurance; all of which is included in Easy Insure’s services. They also offer more than ten types of business insurance– ensuring that whatever you may need, they can provide.

Have your business insured with one of the most trusted companies in Singapore, guarantee your business’ future with Easy Insure!

Highlights

  • Tailor-fit business insurance
  • Highly flexible insurances
  • Team of experts

 

7.  China Taiping Insurance Singapore

BEST FOR  Personal and Business Insurance
SERVICES Personal and Business Insurance
WEBSITE https://www.sg.cntaiping.com/en/business/landing-casualty-medical/medical-health/biztrenz-employee-benefits-package.html
ADDRESS 3 Anson Road #16-00, Springleaf Tower Singapore 079909
CONTACT DETAILS +65 6389 6111 or [email protected]
OPERATING HOURS Monday to Friday (8:45am to 5:30pm)

With a long heritage in Singapore since 1938, China Taiping Insurance (Singapore) Pte. Ltd. (“CTPIS”) has been operating as a general insurer for more than eight decades. CTPIS has expanded its business to Life Insurance since January 2019, providing comprehensive one-stop financial solutions for personal and business needs.

CTPIS insurance solutions include Foreign Workers’ Medical Insurance, BizTrenZ Employee Benefits Package and many more. The BizTrenZ Employee Benefits Package is an affordable group insurance package specially designed for Small and Medium-sized Enterprises from as few as two employees.

CTPIS is wholly-owned by China Taiping Insurance Holdings Company Limited, which has been listed on the Hong Kong Stock Exchange since 2000.

China Taiping Insurance Group is a large transnational financial and insurance group with business network in Mainland China, Hong Kong, Macau, North America, Europe, Oceania, East and Southeast Asia. The brand has gained international recognition over the years and successfully made the rankings in the “Global Fortune 500 Companies” since 2018.

Highlights

  • Wide range of affordable plans/riders
  • 24/7 Worldwide coverage
  • Teleconsultation and Telemedication platform
  • Customisable plan at competitive rate

 

And with that, we conclude our list of the best business insurance in Singapore. If you know of other insurance packages meant to protect small businesses, don’t hesitate to share them with us.

And if you want only the best health insurance in Singapore for your employees, we have you covered (no pun intended) as well. Do check out our list for those to see which insurer provides the most comprehensive health benefits.

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