The Lexus RZ is the brand's fully electric SUV. Owning one in Singapore means a COE, road tax on the motor's power and a yearly insurance bill. This guide is for buyers comparing electric SUVs, and for owners checking their renewal.
All insurance prices here are examples for one stated driver, as of 1 November 2026. They show the spread on offer, not your quote.
Versions: the list and the quote form
The new-car list read on 2026-10-10 shows one RZ version on sale: the RZ Electric 350e Pure Electric 74.7 kWh, with a 221bhp motor. It is listed as an SUV, made in Japan.
The quote form on the price page covers three versions, since older cars are insured too:
- RZ 350e Pure Electric 74.7 kWh
- RZ 450e Executive 71.4 kWh
- RZ 450e Luxury 71.4 kWh
The insurance prices below are for the 450e Executive, the version most insurers quote.
The list price
As listed on 2026-10-10, the RZ 350e Pure Electric was S$356,800, including COE that day. That is the only list price the facts give. Dealers change prices after COE rounds, so ask for the current figure in writing.
The COE rule for an electric RZ
For electric cars, the COE category turns on motor power. The price page sets out the rule for the RZ:
- Category A if the motor is 110kW (147bhp) or less. It closed at S$132,004 in the October 2026 2nd round.
- Category B if the motor is more powerful. It closed at S$131,901 in the same round.
Check the power of the exact car you are buying. The COE page shows newer results.
Road tax on the motor
Electric cars pay road tax by motor power, not engine size. For the 350e's 221bhp (165kW) motor, LTA's formula gives S$1,882.78 a year, before any age surcharge. The 450e versions have a different motor, so their figure may differ. The road tax page works it out from power.
Cars more than 10 years old pay a surcharge:
- Over 10 years: +10%
- Over 11 years: +20%
- Over 12 years: +30%
- Over 13 years: +40%
- Over 14 years: +50%
Insurance prices for the standard driver
The Lexus RZ price page prices these details:
- Car: RZ 450e Executive 71.4 kWh, registered 3 years ago, private use, comprehensive cover
- Driver: aged 40, married, office job, 10 years' driving
- Record: 50% no-claim discount (NCD), no claims
- Repairs: authorised workshop, no options
6 insurers price it online, across nine plans. The lowest premium is S$1,182.63 a year. That plan is a collision-only plan and is marked as an estimate. The insurer whose lowest plan costs most asks at least S$1,936.42, also an estimate. That is S$753.79 more, or 64% on top. The dearest plan on the page is S$3,071.23. All prices include 9% GST.
Read the plan names and the excess
The two lowest premiums carry a S$1,500 excess. Other plans range from S$300 to S$900. So the lower premiums come with a bigger share of each claim. Check whether a plan covers the battery and charging cable, and what kind of cover it is.
Four more insurers have no online price for the RZ. Two do not price electric cars online at all.
How the lowest price moves
The price page shows the lowest price when one detail changes:
- No NCD (0%): S$2,489.75, S$1,307.12 more
- 20% NCD: S$1,991.79, S$809.16 more
- Driver aged 27, 3 years' driving, 30% NCD: S$2,618.98, S$1,436.35 more
- Driver aged 65, 20 years' driving, 50% NCD: S$1,471.79, S$289.16 more
- New car, registered this year: S$1,779.53, S$596.90 more, with 5 insurers pricing
- Car 8 years old: S$1,186.77, S$4.14 more
The young driver pays 121% more than the standard price. A new RZ also costs noticeably more, since the low collision-only plan drops out for it. An 8-year-old car prices almost the same as a 3-year-old one.
Alongside other electric cars
The price page compares six electric cars for the same driver and car age:
- BMW iX1: S$1,907.27
- BYD Sealion 7: S$1,390.72
- Tesla Model Y: S$939.71
- BYD Atto 3: S$913.63
- Tesla Model 3: S$913.62
- BYD M6: S$861.41
Their average lowest price is S$1,154.39. The RZ costs 2% more than that. Four of the six are cheaper to insure, and two cost more. Other Lexus models are on the Lexus car insurance page.
Costs you will need to estimate
- Charging: home charging, if your building has it, or public chargers. Rates differ by operator and time.
- Parking: season parking at home and at work. Check whether charging bays carry extra fees.
- ERP: based on your roads and hours.
- Upkeep: tyres and brakes still wear. Ask how long the battery warranty runs and what it covers.
- Depreciation: what the car loses over its COE life depends on purchase price and later demand.
Summary of yearly costs we can show
For the Lexus RZ:
- Road tax, 350e (221bhp motor): S$1,882.78 a year before any age surcharge (LTA's formula, checked 19 October 2026)
- Insurance, 450e Executive, standard driver: from S$1,182.63 a year (1 November 2026)
- Insurance, no NCD: from S$2,489.75
- Insurance, a new car: from S$1,779.53
One-off costs for reference: S$356,800 for the 350e as listed on 2026-10-10. In the October 2026 2nd round, Category A closed at S$132,004 and Category B at S$131,901.
Before you buy: car insurance for the Lexus RZ
Before you drive off, get your car insurance through Shenton Brokers. Compare car insurance for the Lexus RZ 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.