The Kia Optima no longer appears on the new-car list, so a buyer in Singapore today is shopping used. This page is for that buyer, and for anyone who owns one and wants to check their bills. It covers the costs we can show with figures: COE, road tax and car insurance.
Every insurance price below is an example for one stated driver, read on 20 October 2026. The aim is to show the size of each cost and what moves it. Your own quote will differ.
Four versions on our form
Our quote form lists:
- Optima 2.0 Turbo: 1,998cc
- Optima 2.0A: 1,999cc
- Optima 2.4: 2,359cc
- Optima K5 2.0 (Non Turbo): 1,998cc
The insurance figures are for the 2.0 Turbo, the version most insurers quote. There is no list price, as the new-car list has no Optima.
Three of the four versions sit at about 2 litres. The 2.4 has a larger engine and pays more road tax.
COE category
The price page's COE section says the Optima 2.0 Turbo, at 1,998cc, is above 1,600cc. It needs a Category B COE.
In the October 2026 1st round, Category B closed at S$130,100. That figure changes every round; the COE page has the latest. On a used Optima, the COE time remaining has a big say in what the car is worth.
Road tax
For a 1,998cc engine, LTA's formula gives S$1,209.76 a year, before any age surcharge. Check the 2.4 on the road tax page.
After the tenth year, a surcharge is added:
- Over 10 years: +10%
- Over 11 years: +20%
- Over 12 years: +30%
- Over 13 years: +40%
- Over 14 years: +50%
Insurance for one example driver
The Kia Optima price page works from:
- Car: Optima 2.0 Turbo, registered 3 years ago, private use, comprehensive cover
- Driver: aged 40, married, office job, driving 10 to 19 years
- Record: 50% no-claim discount (NCD), no claims
- Repairs: authorised workshop, no add-ons
14 insurers price it. The lowest premium is S$764.82. The insurer whose lowest plan is dearest asks at least S$1,270.04. That is S$505.22 more, or 66% on top. All prices include 9% GST.
Only two insurers that price cars online have no online price for the Optima yet. You have most of the market to compare. With 14 insurers in play, the gap between the lowest premium and the rest is worth checking line by line, not just at the top of the list.
The excess
The excess is what you pay towards each claim. Ten of the 22 plans here carry S$600. Two ask S$500, two S$750 and three S$800. At the top, three ask S$2,500 and one S$3,000. One plan has no excess. If you pick on premium alone, you may end up with one of the high-excess plans without noticing.
What moves the premium
The price page reprices the car after one change:
- No NCD (0%): S$961.18, S$196.36 more
- 20% NCD: S$961.18, S$196.36 more
- Driver aged 27, 3 years' driving, 30% NCD: S$961.18, S$196.36 more
- Driver aged 65, 20 or more years' driving: S$764.82, the same
- New car, registered this year: S$787.96, S$23.14 more
- Car 8 years old: S$700.28, S$64.54 less
Without an NCD, the lowest price is 26% higher. That is the biggest change. The younger driver with 30% NCD reaches the same figure. The 65-year-old pays the same as the 40-year-old.
As for the car, an 8-year-old Optima is cheaper to insure than the 3-year-old one on the page, and a new one costs a little more. Since the Optima is a used buy now, the 8-year-old figure may be the more useful guide. These are lowest prices; other plans may shift by other amounts.
A different insurer is lowest once the NCD falls below 50%. So if your record differs from the example, the ranking on the page will not hold for you. Compare with your own details.
Against similar cars
The price page lines up six similar cars, for the same driver and car age:
- Lexus NX: S$972.39
- Lexus RX: S$972.39
- Mercedes-Benz E-Class: S$861.03
- BMW 5 Series: S$861.03
- Toyota Voxy: S$793.75
- Toyota Harrier: S$742.90
Their average is S$867.25. The Optima costs 12% less. Only one of the six, the Harrier, is cheaper to insure. The two Lexus models are the dearest of the six. The Kia car insurance page covers the rest of the make.
Costs set by how you use the car
We give no figures for these:
- Parking: season parking at home, plus office and weekend parking. Check your own rates.
- Petrol: depends on how far you drive and the pump price.
- ERP: depends on your routes and times.
- Servicing and repairs: on a used car, ask for the service record and what is due soon.
- Depreciation: tied to what you pay and the COE life remaining.
Summary of yearly costs we can show
For the Kia Optima 2.0 Turbo, with dates as shown:
- Road tax: S$1,209.76 a year, before any age surcharge (LTA's formula, checked 2026-10-19)
- Insurance, standard driver: from S$764.82 a year (20 October 2026)
- Insurance, no NCD: from S$961.18
- Insurance, car 8 years old: from S$700.28
For reference, a Category B COE closed at S$130,100 in the October 2026 1st round.
Before you buy: car insurance for the Kia Optima
Before you drive off, get your car insurance through Shenton Brokers. Compare car insurance for the Kia Optima to see today's prices from every insurer we compare and how they change with the driver and the car's age. Or get a quote with your own details.