1. These terms and conditions (“Terms and Conditions”) shall apply to the “Pay Less or Pay Nothing” promotion (“Pay Less Challenge”) offered by Budget Direct Insurance (referred to in these Terms and Conditions as “Budget Direct”, “we”, “our” or “us”).

Eligibility

2. Only vehicles registered in Singapore and only residents of Singapore may be insured under Budget Direct's car insurance policies. These Terms and Conditions, together with other terms and conditions of Budget Direct Insurance's car policies (please refer to the Product Disclosure Document that is currently published on our website), shall apply to all Applicants (defined below) in the Pay Less Challenge.

3. The Pay Less Challenge is only available to individuals (each, an “Applicant”):

   1. who are Ready To Renew their Comprehensive car insurance policy with another Singapore-based insurer and have not yet paid the renewal premium to renew their current policy. “Ready To Renew” shall refer to the window period for renewal which is 60 days before the expiry date of their current policy;
   2. whose car to be insured must not have been previously insured by Budget Direct within 60 days of the date of the Applicant’s submission of the Verification Documents (defined below);
   3. who have obtained a customised quote on our website at budgetdirect.com.sg or by calling our Customer Care team (“Customised Quote”) at 6221 2111. Mondays to Fridays, 9am to 8pm and Saturdays, 9am to 3pm (Closed on Sundays and public holidays); and

   4. whose renewal terms offered by the Applicant’s current insurer (“Renewal Terms”) and our Customised Quote fulfil the following criteria:

      • Insurance coverage is Comprehensive;
      • The Main Driver in the Policy is 35 years old and above;
      • Each Named Driver(s) in the policy (if any) is 25 years old and above, and holds a valid driving licence for more than 2 years;
      • Applicable No Claim Discount is 30% or above;
      • Car usage is Private and Commuting Use; and
      • The Main Driver and each Named Driver(s) has not been involved in any accident or claim (including any “not at fault” accident/claim) within the 3 years preceding the start date of the policy to be renewed.

Participation

4. To participate in the Pay Less Challenge, the Applicant must email the following documents (collectively, “Verification Documents”) to [email protected]:

   1. Full details of the Applicant’s policy renewal documents from the Applicant’s current insurer, which must include the Renewal Notice;
   2. The Applicant’s current Policy Schedule and Certificate of Insurance; and
   3. Any other information that we may require.

   The Applicant’s email with the Verification Documents must reach us by 23:59 hours on 30 September 2023.

5. By submitting the Verification Documents (“Submission”), the Applicant agrees to the following:

   1. The Verification Documents must be genuine, complete and up-to-date, so that an accurate comparison of the cover in the Applicant's Renewal Terms, and the benefits and cover offered by Budget Direct can be made;
   2. Our Customized Quote accurately and genuinely reflects the Applicant’s car usage and its policy coverage is based on the Renewal Terms; and
   3. The Applicant authorises and grants Budget Direct (and its related companies)he right to collect, use and process his/her name, NRIC/FIN number, email address and other personal details contained in the Verification Documents, for the purposes of verifying the Applicant's policy renewal details and administration of the Pay Less Challenge and our Privacy Policy.
6. Once a Submission is made, the Applicant is not allowed to change any of the details contained in the Submission and the Customised Quote, unless agreed by us in writing.
7. Each Applicant is only entitled to 1 Submission per car. For the avoidance of doubt, an Applicant cannot make another Submission for the same car after the Applicant’s earlier Submission has been rejected. If an Applicant has more than 1 car, the Applicant may make separate Submissions for each car.

Challenge Award Qualifying Criteria

8. We will apply our standard underwriting criteria and requirements to all insurance applications (including the Customised Quote) and the evaluation of the Verification Documents. We reserve the right, at any time, to reject in full or in part, any insurance application or submission to participate in the Pay Less Challenge. We may, in our sole discretion, determine that the Verification Documents are unsatisfactory or incomplete. If we do so, we have the right to disqualify the Submission.
9. If we verify that the premium quoted by us is higher than the renewal premium offered by the Applicant's current insurer for the same level of cover, we will contact the Applicant within 7 working days after the Submission to inform the Applicant that he/she (“Successful Applicant”) is eligible to claim the Challenge Award (described below).
10. Subject to these Terms and Conditions, if the Successful Applicant decides to have his/her current policy (as reflected in the Submission) renewed with Budget Direct Insurance, we will reimburse the Successful Applicant based on the same level of coverage between the Customised Quote and the Renewal Terms (“Challenge Award”).

11. To claim the Challenge Award, the Successful Applicant must fulfil the following conditions:

    1. The Successful Applicant must renew his/her car insurance with Budget Direct Insurance and make payment of the required premium for the new policy (“Policy Premium”) within our required time frame;
    2. Subject to our validation of the Successful Applicant’s insurance application and acceptance of the Policy Premium payment, we will reimburse the Challenge Premium (details below) to the Successful Applicant for the new policy issued by us;
    3. Our reimbursement to the Successful Applicant will be the premium amount for the same level of coverage between the Renewal Terms and the Customised Quote (“Challenge Premium”). We reserve the right to determine the Challenge Premium based on the Customised Quote and the information for renewal provided to us;
    4. Reimbursement of the Challenge Premium will be by cheque issued by us (or our related company) to the Successful Applicant. We will contact the Successful Applicant to arrange for collection of the cheque within 30 days after the start date of the Successful Applicant’s new policy with us;
    5. The Successful Applicant agrees to co-operate and participate in any activity required by us in relation to the Challenge Award, for advertising or publicity, or our administration of the Challenge Award. This will include the physical collection of the cheque and attendance at our office or such other premises as required by us. If the Successful Applicant declines or is unable to collect the cheque for the Challenge Premium personally, the Successful Applicant will be disqualified and the reimbursement under the Challenge Award will be forfeited. Under these circumstances, there will also be no refund of the Policy Premium except in accordance with these Terms and Conditions, and the Successful Applicant shall not have any claim against Budget Direct arising from such forfeiture and non-refund; and
    6. The Successful Applicant consents to and grants Budget Direct the right to use and publish his/her name, particulars, likeness, image and voice (in any format which may include any photograph, audio, video or other recording), written comments, and the fact that he/she has claimed the Challenge Award, for our advertising, marketing and promotional purposes, in any media as we deem fit, without further notice or compensation.

New Policy with Budget Direct Insurance

12. The Successful Applicant may opt for additional cover(s) in the new policy issued by us that is over and above the same level of coverage between the Renewal Terms and the Customised Quote, but any premium required for such additional cover will not be part of the Challenge Premium to be reimbursed by us. The Successful Applicant will be required to pay for such additional cover, which may be part of the Policy Premium (“Additional Cover Premium”).
13. The Successful Applicant may make changes to the new policy issued by us or we may need to make changes to the new policy based on information further validated by us. Where such changes are over and above the same level of coverage between the Successful Applicant’s Renewal Terms and the Customised Quote, any additional premium due to such changes must be borne and topped up by the Successful Applicant (“Premium Top-Up”). Where the Premium Top-Up is not paid within the time frame required by us, we reserve the right to reduce the policy term to correspond to the period of insurance covered by the Policy Premium.

14. After the Challenge Award is claimed, we will not provide any refund for the new policy issued by us under the Pay Less Challenge for any reason whatsoever, even if the new policy is cancelled by the Successful Applicant or by us during its policy term; except in the following scenarios subject to Clause 15 of these Terms and Conditions:

    1. If the new policy issued by us is cancelled before or on its start date, we may refund only the pro-rated unused portion of the Additional Cover Premium and Premium Top-Up (if applicable and as determined by us) with no cancellation fee; or
    2. If the new policy issued by us is cancelled after its start date, we may refund only the pro-rated unused portion of the Additional Cover Premium and Premium Top-Up (if applicable and as determined by us), and charge a cancellation fee amounting to 20% of the unused portion of the Additional Cover Premium and Premium Top-Up (if applicable and as determined by us); and
    3. We may waive or refund the cancellation fee mentioned in the above Clause 14b if another car insurance policy is purchased from us within 90 days from the effective date of cancellation of the policy issued under the Pay Less Challenge and all outstanding premium for the policy issued under the Pay Less Challenge has been paid on or before the effective date of cancellation.

    For the avoidance of doubt, the section on “Refund of premium” in Section 16 of our Product Disclosure Document will not apply to a policy issued by us under the Pay Less Challenge.

15. We reserve the right to disqualify an Applicant from participating in the Pay Less Challenge or claiming the Challenge Award; or if the Challenge Award has been claimed, we may even reduce or refuse to pay a claim under the new policy issued by us and/or cancel the new policy issued by us with immediate effect at any time during the policy term without any refund whatsoever, if there is or we suspect any fraud, false or misleading information provided, bad faith by the Applicant or breach of these Terms and Conditions.

General

16. Individuals (as identified by NRIC or FIN number) who have been successful in our previous Pay Less promotions (which involve the same level of cover comparison between policies) will not be eligible to claim the Challenge Award, even if the previous Pay Less promotions involved a monetary amount awarded.
17. The Pay Less Challenge is not valid with any of our other promotions, discounts, offers, vouchers, rebates or privileges (save that we are entitled to apply incentives enjoyed under the Budget Direct’s Bring a Buddy or any of our partner programme promotions, which involves the use of an Affinity ID, to the premium quoted by us).
18. Each Applicant agrees to receive marketing communications from us in relation to our products and services. The Applicant may opt-out from such marketing communications at the time of receipt or by emailing us at [email protected].
19. Our employees and employees of our related companies, their immediate families, and persons living in the same household as any of these mentioned individuals (whether related or not), are not eligible to participate in the Pay Less Challenge.
20. Save for our related companies, a person who is not an Applicant shall have no right under the Contracts (Rights of Third Parties) Act 2001 to enforce any of the Terms and Conditions. The Terms and Conditions are governed by Singapore law and any claim or dispute shall be submitted to the exclusive jurisdiction of the Singapore courts.
21. We and our related companies will not be liable for any loss or damage whatsoever that may be suffered or sustained in connection with the Pay Less Challenge, including but not limited to the receipt of the Challenge Award, an Applicant’s disqualification under these Terms and Conditions, or any consequence arising from breach or purported breach of these Terms and Conditions. If there is fraud, misleading or false information provided, bad faith by the Applicant, or any circumstance under these Terms and Conditions which results in our reduction or refusal to pay a claim, cancellation of the policy or shortening of the policy term, the Applicant shall indemnify and hold Budget Direct and its related companies harmless against all losses, damages, claims, costs, penalties, interest and fees, howsoever incurred and whether directly or indirectly caused.
22. Reference to Budget Direct Insurance, Budget Direct, we, our, or us in these Terms and Conditions include our related companies.
23. If there is any inconsistency between these Terms and Conditions and any term in our Product Disclosure Document or the policy summary, certificate of insurance and policy schedule of the Successful Applicant’s new policy issued by us under the Pay Less Challenge, these Terms and Conditions shall prevail.
24. We may amend these Terms and Conditions or cancel the Pay Less Challenge at any time without notice or incurring liability to any party. Our decision on all matters relating to the Pay Less Challenge is final.

These Terms and Conditions are correct as of 14 August 2023.