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Singapore’s most affordable car insurance 2019



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An independent study of car insurers found that Budget Direct Insurance offers the most affordable car insurance premiums in Singapore for 2019.

At the same time, Budget Direct Insurance has received the Feefo Gold Trusted Service Award 2019 for providing outstanding customer service based on customer feedback and reviews.

The insurer, launched just two years ago, says the two accolades highlight their commitment to providing a service that ‘competitors will find hard to match’ and at a price that is almost unbeatable. 

Most affordable car insurance in 2019 is Budget Direct Insurance, says independent study

An independent study, conducted by consumer research firm ValueChampion, showed that Budget Direct Insurance offers one of the most competitive deals on car insurance in 2019. 

The report found that motorists with Budget Direct Insurance can pay up to 40% less than the average premium offered by other leading insurers.

A 45-year-old male sedan driver, for instance, with a 50% NCD discount pays an average premium of $508 with Budget Direct Insurance. This compares to the average premium price of $844 offered by leading insurance companies in Singapore for a similar insured driver and vehicle. 

The study looked at the best comprehensive car insurance plans on the market based on budget, car type and desired coverage. It then analysed 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.

The ValueChampion report says that Budget Direct Insurance sets itself apart by offering almost unbeatable premiums for experienced drivers.

The study found that Budget Direct Insurance was 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 ValueChampion for the full report.

Insurer

Average Annual Premium

Budget Direct Insurance

S$508

FWD

S$573

Aviva

S$621

Direct Asia

S$820

Income

S$834

Average

S$844

HLAS

S$846

Etiqa

S$909

Great Eastern

S$1,044

AXA

S$1,121

Motorists with Budget Direct Insurance can pay up to 40% less than the average premium offered by other leading insurers. (Based on a 45 year-old motorist, driving a Sedan and with an NCD of 50% plus 5 years driving experience.) Study by ValueChampion

The direct online insurer says it keeps premiums down by cutting out the middleman which means no agency fees. It steers clear of insuring risky drivers so that motorists aren’t subsidising bad drivers. And it establishes who will drive the car and how it will be used to ensure motorists pay the right amount of insurance. The use of cloud technology and their ‘constant fight against inflated and fraudulent claims’ also help to keep insurance premiums down. 

Independent Gold award for outstanding customer service

Meanwhile, Budget Direct Insurance has received the Feefo Gold Trusted Service award 2019 for providing outstanding customer service based on customer feedback and reviews.

This award is an independent seal of excellence that recognises businesses for delivering exceptional experiences, as rated by real customers. 

Those that meet the high standard, based on the number of reviews they have collected, and their average rating, receive the award. The accreditation is based on interactions with real customers and as all reviews are verified as genuine, it is a true reflection of a business’ commitment to outstanding service.

Simon Birch, CEO of Budget Direct Insurance, said the Feefo Gold Trusted Service award proves that customers can pay less and still get great service. He said: “So far we have been shouting about our great prices whilst at the same time offering a world-class service.

“As a relatively new insurer it takes time to prove yourself and the Feefo Gold Trusted Service award is testimony to the fact that we are delivering a great service. It helps us to reinforce the message that motorists can pay less for their car insurance without scrimping on service or cutting corners on cover. We strive to provide a service that competitors will find hard to match and at a price that is unbeatable.”

But ultimately Birch says it boils down to the team, “We deliberately recruit good people who like to get things done. We empower them to do the right thing by the customer, first time, and every time.”

Budget Direct Insurance is part of an international insurance group, which provides insurance solutions for millions of policyholders worldwide. The Group includes one of the largest direct personal lines insurers in South Africa, and one of the largest personal lines insurance intermediaries in the United Kingdom.

The Budget Direct Insurance customer reviews that have been independently verified by Feefo can be found here.

Wherever you go, whatever you do, it’s vital to have good car, motorcycle and travel insurance cover.
Check out Budget Direct Insurance for your best deal

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