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Business package insurance

Income vs Tokio Marine business package insurance

Income and Tokio Marine side by side on the same typical small businesses, renting their premises and without WICA, from their published rates.

By , Writer · Prices as of 12 Nov 2026, GST included.

Which is cheaper

Of the 12 typical businesses both price on our pages, Income was cheaper on 10, Tokio Marine on 2. Your own business can change the order.

Price on each business

Each insurer's cheapest plan, a year, GST included. Open a business for every insurer's plan and its Apply Now or Buy Now.
BusinessIncomeTokio Marine
Cafe5 staffS$450.00SmartBiz 360 EssentialS$545.00TM Dining Suite
Restaurant10 staffS$450.00SmartBiz 360 EssentialS$618.58TM Dining Suite
Fast food outlet8 staffS$450.00SmartBiz 360 EssentialS$545.00TM Dining Suite
Bakery4 staffS$300.00SmartBiz 360 EssentialS$545.00TM Dining Suite
Takeaway kitchen3 staffS$450.00SmartBiz 360 EssentialS$545.00TM Dining Suite
Hawker stall2 staffS$450.00SmartBiz 360 EssentialS$545.00TM Dining Suite
Clothing shop3 staffS$300.00SmartBiz 360 EssentialS$493.23TM Retail Suite
Florist2 staffS$300.00SmartBiz 360 EssentialS$419.65TM Retail Suite
Optical shop3 staffS$300.00SmartBiz 360 EssentialS$493.23TM Retail Suite
Medical clinic6 staffS$330.00SmartBiz 360 PremierS$381.50TM Service Suite
Hair salon4 staffS$350.00SmartBiz 360 EssentialS$327.00TM Service Suite
Beauty salon5 staffS$350.00SmartBiz 360 EssentialS$327.00TM Service Suite

Both plans for a cafe

Income's and Tokio Marine's cheapest plans for a cafe with 5 staff: a year, GST included.
InsurerA yearValue scorePublic liabilityContents and stockBusiness interruption
IncomeSmartBiz 360 EssentialBuy NowS$450.0040S$1,000,000S$100,000Included
Tokio MarineTM Dining SuiteS$545.0017S$500,000S$100,000Included

Questions people ask

Is Income or Tokio Marine cheaper for business package insurance?

Of the 12 typical businesses both price on our pages, Income was cheaper on 10, Tokio Marine on 2. Your own business can change the order.

How does Income's cover compare with Tokio Marine's?

For a cafe with 5 staff: Income SmartBiz 360 Essential has public liability of S$1,000,000 and S$100,000 of contents, with business interruption; Tokio Marine TM Dining Suite has S$500,000 and S$100,000, with business interruption.

How do I buy it?

Buy Now takes you to the insurer’s own site, where you buy with your company’s real details and the insurer issues the policy. Sompo, EQ, Tokio Marine and Great American take an application form instead: Apply Now sends your details to us, and we get the form, help you fill it in and place the cover. Ask Shenton to arrange sends us the plan you picked and we arrange it for you.