Budget Direct Insurance scoops Singapore’s ‘Best Cheap Car Insurer for 2018.’
A recent independent study of car insurers conducted by consumer research firm Value Penguin found that Budget Direct Insurance offers one of the cheapest car insurance premiums in Singapore for 2018.
The insurer came out almost 40% cheaper on average for sedan and SUV drivers with a 50% NCD discount, according to this independent research.
Value Penguin who conducted the study, said it looked at the best car insurance plans on the market based on similar budget, car type and desired coverage. It then analyzed car insurance benefits for the most popular sedans and SUVs and compared prices from 12 car insurers across Singapore including Direct Asia, Aviva and FWD.
Their data found that a comprehensive car insurance policy with Budget Direct Insurance was nearly half the price of the average premium on the market. A 45-year-old male sedan driver, for instance, with a 50% NCD discount pays just $496 with the online insurer Budget Direct Insurance. This compares to the average premium price of $775, calculated based on premiums offered by 12 insurance companies in Singapore for a similar insured driver and vehicle.
The independent research looked at premiums for all types of drivers, including men, women, as well as experienced and new drivers and found that Budget Direct Insurance came out on top when it came to price.
At the same time, the online insurer has been awarded the Trusted Service Award 2018 – by Feefo, an independent global analytics firm – for delivering exceptional service experience, based on customers’ reviews collected in 2017.
This Trusted Service Award 2018 recognises businesses that go the extra mile for their customers.
Budget Direct Insurance’s customer reviews consistently hit 4.5 out of 5 stars throughout 2017, easily meeting the stringent criteria needed to win the accreditation.
Simon Birch, CEO of Budget Direct Insurance, says the two independent accolades are testimony to the fact that it is possible to provide low-cost insurance without compromising on cover or service.
He said: “Feefo is an independent company that collects genuine ratings and reviews that are all verified. That means the feedback we have been getting represents a true reflection of what our customers think and feel about what we do. And it’s out there online for everyone else to see. As a relatively new insurer that’s very powerful for us.
“We have a fantastic team in place and this award is well deserved. We work hard, we listen and we constantly strive to understand the needs of our customers.”
He added: “And the fact that we are one of the cheapest insurers in Singapore is a bonus. We always strive to keep our premiums down without ever cutting corners on our cover or service. For instance, customers make an instant saving by not paying commission or agency fees. And we continue to prove that cheap can be good.”
The Value Penguin study reports that Budget Direct Insurance sets itself apart by offering almost unbeatable premiums for experienced drivers.
The said study found that Budget Direct Insurance is ideal for:
- Low-risk drivers seeking the cheapest possible premiums.
- Motorists wanting to customize their plans rather than pay for bundles they don’t use
See ValuePenguin for the full report.