COE Renewals for Older Motorcycles
Opting to renew your Certificate of Entitlement (COE) for your motorcycle, instead of purchasing a new one, is a smart approach to manage your two-wheeler expenses. At Budget Direct Insurance, you can effortlessly obtain an instant motorcycle insurance quote for your aging vehicle, either online or over the phone. Purchasing insurance for your COE-renewed motorcycle is a quick and hassle-free process from start to finish.
We take pride in being one of the rare insurance providers offering online insurance for older motorcycles. As COE renewals gain popularity in Singapore, we believe in adapting to the evolving needs of motorcyclists. Unlike many other insurers, we won't keep you waiting for individual assessments. Instead, you can receive a quote within 30 seconds, secure your insurance, and hit the road within minutes.
What's more, our insurance rates for older motorcycles are among the most budget-friendly, as confirmed by an independent study of Singapore's top insurance companies. Discover more details.
As an increasing number of Singaporean riders choose to save money by renewing their COEs, we have tailored our motorcycle insurance specifically to cater to your requirements. From swift quotes and speedy purchases to providing coverage for motorcycles up to 30 years old, we have you protected.
At Budget Direct Insurance, we keep things transparent and straightforward. We extend coverage to motorcycles up to 30 years old, with the following insurance options:
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Vehicle Age |
Comprehensive |
Third Party Fire and Theft |
Third Party Only |
|---|---|---|---|
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0 to 15 years |
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16 to 20 years |
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21 to 30 years |
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FAQs
Why are more motorcyclists renewing their COE?
Increased import taxes, surcharges, and an uncertain economic climate have led to a rise in COE renewals among motorcycle owners. As motorcycle prices continue to climb, more and more riders are exploring COE renewal as an alternative to acquiring new motorcycles.
When should I renew my Motorcycle COE?
You have the flexibility to renew your Motorcycle COE at any time before its expiration date. If you choose to renew in the same month before the expiry, the new COE period begins the day after your current COE expires. For early renewals completed before the month of expiry, the new COE period starts on the first day of the following month, and the remaining portion of the previous COE is forfeited. This is why many motorcycle owners opt to renew their COEs close to the expiry date or even on the day itself to minimise rebate loss.
How much does it cost to renew my Motorcycle COE?
To renew your Motorcycle COE, you'll need to pay the Prevailing Quota Premium (PQP), which is the average of the COE quota premium for your specific motorcycle category over the preceding three months. Renewing your COE for 5 years requires a payment of 50% of the full Prevailing Quota Premium. If you're considering a 10-year renewal, the full PQP for your motorcycle category is required. For specific pricing information, please visit the COE renewal prices based on your motorcycle's category.
How can I renew my Motorcycle COE?
Renewing your Motorcycle COE can be done conveniently online through OneMotoring.
*Note: Motorcycles renewed under a 5-year COE are not eligible for subsequent renewals or extensions. However, motorcycles renewed under a 10-year COE can undergo a second or subsequent renewal.
Want more reasons to buy?
- Get customisable motorcycle 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.
- We are recipients of the independent Feefo Platinum Trusted Service Award for outstanding customer service.
- We steer clear of risky riders and insure safe motorists so that you don’t have to subsidise those who make multiple claims.
- Join our band of happy customers. Read what others are saying about our great products and first-class service on Feefo.
Knowledge Base
Older motorcycles in Singapore: Are they worth the trouble?
Running older vehicles in Singapore is expensive. Then why are Singapore motorcyclists hanging-on to their older motorcycles?Find out more
Get a quote today and see how much you can save!
Got any questions?
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