1. Budget Direct Insurance
  2. Car Insurance
  3. Coe Renewals Insurance For Older Cars


COE Renewals.
Insurance For Older Cars

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Renewing your COE instead of buying a new car is a great way to keep motoring costs down.

At Budget Direct Insurance you can get an instant car insurance quote for your older vehicle online or over the phone.

And you can buy your motor insurance for a COE renewal car within minutes. It’s completely hassle-free from beginning to end.

We’re proud of the fact that we’re one of the few insurers that offers online car insurance for older vehicles.

COE renewals are a growing trend in Singapore, and we feel that it’s important we try to cater to motorists’ changing needs. That’s why, unlike many other insurers, we won’t keep you waiting to assess each individual case. Instead you can get a quote in 30 seconds, buy your insurance and be on the road within minutes.  

Not only that, you’ll find that we are one of the most affordable insurers for older vehicles, according to an independent study of Singapore’s leading insurance companies. Find out more here.

Whilst more and more Singaporean motorists are opting to save money and renew their COEs, we have tailor-made our car insurance especially for you. From being able to get an instant quote and buying within minutes to protecting your car right up to 30 years old, we have you covered.

At Budget Direct Insurance we’ve made it clear and simple. We’ll insure cars up to 30 years old with the following cover:

Vehicle Age


Third Party Fire and Theft

Third Party Only

0 to 15 years

16 to 20 years

21 to 30 years


Why are more motorists renewing their COE?

Higher car prices due to increased import taxes and surcharges as well as an uncertain economic climate, have resulted in more COE revalidations in recent years, as more and more owners seek alternatives to new car ownership.

When should I renew my COE?

You can choose to renew the COE anytime up to the expiry date itself.

For renewals made in the same month before the expiry, the new COE period will commence the day after the previous COE expires. 

The new COE period for early renewals made prior to the month of expiry begins on the first day of the following month after you renew the COE. The unused portion of the previous COE will be forfeited.

That’s why most prefer to renew their COEs very close to the expiry date, or even on the day itself so they minimise the loss of this rebate.

You can renew your COE for a period of 5 or 10 years, depending on the category of your vehicle. 

How much does it cost to renew my COE?

Renewals can be made by paying the Prevailing Quota Premium (PQP), which is the moving average of the COE quota premium for the respective vehicle category in the preceding three months.

You need to pay 50% of the Prevailing Quota Premium to renew your COE for 5 years.

If you are renewing your COE for 10 years, you need to pay the full PQP for your vehicle category.

For more information, visit COE renewal price depending on your car’s category.

How can I renew my COE?

Want more reasons to buy?

  1. Get customisable car insurance plans that let you choose the options you need such as our handy 24-hours roadside assistance. You only pay for the features you use. No bundles.
  2. We are recipients of the independent Feefo Platinum Trusted Service Award for outstanding customer service.
  3. We steer clear of risky drivers and insure safe motorists so that you don’t have to subsidise those who make multiple claims.
  4. Join our band of happy customers. Read what others are saying about our great products and first-class service on Feefo.

Knowledge Base

Best car insurance for used and older COE cars

Best car insurance for used and older COE cars

If your car is a COE renewal or an older vehicle then you may want to think about switching your car insurance plan to third party only cover.
Find out more

Get a quote today and see how much you can save!

Get a Quote

Got any questions?

Browse our frequently asked questions and you’ll probably find what you’re looking for.

You can call us at 62212111, Mondays to Fridays, 9am to 8pm and Saturdays, 9am to 3pm (Closed on Sundays and public holidays) or request a call back.