Work injury compensation insurance
Income vs Sompo WICA insurance
Income and Sompo side by side on the same typical employers, as business packages with WICA for all staff, from their published rates.
Which is cheaper
Of the 29 typical employers both are shown for on our pages, Income was cheaper on 3, Sompo on 26. Your own business can change the order.
HL Assurance is our one featured insurer for work injury compensation: you buy it through our Buy Now link. As on our work injury compensation page, a package from another insurer priced below HL Assurance’s is not shown, and a package whose WICA would leave a staff member out is not shown either.
Price for each employer
| Employer | Income | Sompo |
|---|---|---|
| Office20 staff, S$60,000 each | S$1,150.07SmartBiz 360 Essential | S$1,179.20Spectra Office |
| Office25 staff | S$850.05SmartBiz 360 Premier | S$818.75Spectra Office |
| Office25 staff, S$60,000 each | S$1,390.09SmartBiz 360 Essential | S$1,419.50Spectra Office |
| Cafe5 staff | S$570.01SmartBiz 360 Essential | S$521.55Spectra Food and Beverage |
| Cafe5 staff, S$60,000 each | S$690.02SmartBiz 360 Essential | S$653.70Spectra Food and Beverage |
| Restaurant10 staff, S$60,000 each | S$930.04SmartBiz 360 Essential | S$918.00Spectra Food and Beverage |
| Restaurant20 staff, S$60,000 each | S$1,410.07SmartBiz 360 Essential | S$1,446.60Spectra Food and Beverage |
| Fast food outlet8 staff, S$60,000 each | S$834.03SmartBiz 360 Essential | S$812.28Spectra Food and Beverage |
| Bakery4 staff | S$479.98SmartBiz 360 Essential | S$368.89Spectra Retail |
| Bakery4 staff, S$60,000 each | S$659.96SmartBiz 360 Essential | S$465.01Spectra Retail |
| Caterer5 staff | S$570.01SmartBiz 360 Essential | S$521.55Spectra Food and Beverage |
| Caterer5 staff, S$60,000 each | S$690.02SmartBiz 360 Essential | S$653.70Spectra Food and Beverage |
| Clothing shop5 staff | S$524.98SmartBiz 360 Essential | S$392.92Spectra Retail |
| Clothing shop5 staff, S$60,000 each | S$749.95SmartBiz 360 Essential | S$513.07Spectra Retail |
| Clothing shop10 staff, S$60,000 each | S$1,199.90SmartBiz 360 Essential | S$753.37Spectra Retail |
| Minimart3 staff | S$434.99SmartBiz 360 Essential | S$344.86Spectra Retail |
| Minimart3 staff, S$60,000 each | S$569.97SmartBiz 360 Essential | S$416.95Spectra Retail |
| Medical clinic5 staff | S$504.98SmartBiz 360 Essential | S$415.81Spectra Service |
| Medical clinic5 staff, S$60,000 each | S$729.95SmartBiz 360 Essential | S$535.96Spectra Service |
| Medical clinic10 staff | S$729.95SmartBiz 360 Essential | S$535.96Spectra Service |
| Medical clinic10 staff, S$60,000 each | S$1,179.90SmartBiz 360 Essential | S$776.26Spectra Service |
| Dental clinic8 staff | S$639.96SmartBiz 360 Essential | S$487.90Spectra Service |
| Dental clinic8 staff, S$60,000 each | S$999.92SmartBiz 360 Essential | S$680.14Spectra Service |
| Hair salon5 staff | S$470.01SmartBiz 360 Essential | S$415.81Spectra Service |
| Hair salon5 staff, S$60,000 each | S$590.02SmartBiz 360 Essential | S$535.96Spectra Service |
| Gym5 staff | S$470.01SmartBiz 360 Essential | S$415.81Spectra Service |
| Gym5 staff, S$60,000 each | S$590.02SmartBiz 360 Essential | S$535.96Spectra Service |
| Gym10 staff | S$590.02SmartBiz 360 Essential | S$535.96Spectra Service |
| Gym10 staff, S$60,000 each | S$830.04SmartBiz 360 Essential | S$776.26Spectra Service |
Both packages for a professional services office with 20 staff
| Insurer | A year | Value score | Of which WICA | Public liability | Contents and stock |
|---|---|---|---|---|---|
| IncomeSmartBiz 360 EssentialBuy Now | S$1,150.07 | 37 | About S$960.07 | S$1,000,000 | S$100,000 |
| SompoSpectra Office | S$1,179.20 | 47 | About S$961.20 | S$1,000,000 | S$150,000 |
Questions people ask
Is Income or Sompo cheaper for WICA?
Of the 29 typical employers both are shown for on our pages, Income was cheaper on 3, Sompo on 26. Your own business can change the order.
How much of each price is WICA?
For Office with 20 staff: WICA insurance on higher wages: Income about s$960.07 of S$1,150.07; Sompo about s$961.20 of S$1,179.20.
How do I buy it?
Buy Now takes you to the insurer’s own site, where you buy the package with WICA 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.