EQ Insurance, a Singapore-based general insurer, has steadily built a reputation for providing reliable, affordable coverage tailored to individuals and SMEs. Backed by a strong local presence and digital-first approach, EQ stands out in the market for its competitive pricing and accessibility.
⭐ Overall Score: 4.1 out of 5
✅ Pros of EQ Insurance
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Strong local presence and deep understanding of the Singapore market
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Competitive premiums for personal and business policies
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Wide range of general insurance products, including motor, travel, health, and business coverage
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Digital policy management and easy online claims submission
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Well-suited for small businesses and budget-conscious consumers
❌ Cons of EQ Insurance
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Limited international coverage—mostly serves Singapore-based clients
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Less recognized outside Singapore compared to global insurers
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No life insurance or investment-linked policies
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Customer support availability can vary during peak periods
💲 EQ Insurance Pricing
(Estimated annual premiums based on typical consumer and SME profiles in Singapore)
| Coverage Type | Estimated Pricing Range (Annual) |
|---|---|
| Motor Insurance | SGD 700 – SGD 1,800 |
| Travel Insurance | SGD 30 – SGD 150 |
| Personal Accident | SGD 100 – SGD 500 |
| SME Business Insurance | SGD 300 – SGD 2,000+ |
📊 EQ Insurance Ratings Summary
| Category | Score (out of 5) |
|---|
| Financial Strength | 4.0 |
| Coverage Options | 4.2 |
| Pricing Transparency | 4.5 |
| Customer Support | 3.8 |
| Claims Process | 4.0 |
| Online Experience | 4.3 |
🔍 Should You Choose EQ Insurance?
If you’re based in Singapore and looking for affordable, straightforward insurance for personal or business needs, EQ Insurance is a solid choice. It combines competitive pricing with localized service and a user-friendly digital platform. However, for those needing international or life insurance coverage, a larger multinational insurer might be more suitable.
