SINGAPORE, June 15, 2021 /PRNewswire/ — Award-winning Budget Direct Insurance offers Singapore’s cheapest Comprehensive motorcycle insurance plans for safe riders, according to an independent study carried out by a leading consumer research firm.
The report by ValueChampion concluded that Budget Direct offers the Best Motorcycle Insurance for Safe Riders.
Motorcyclists with Budget Direct Insurance who have a No Claim Discount (NCD) of 20% can pay up to 34% less than the average premium offered by other insurers, according to the study.
For instance, a 35-year-old single male with five years’ riding experience and a 20% NCD, with a 2020 Honda CBF150 pays an average premium of S$260 for a Comprehensive plan with Budget Direct Insurance. This is nearly S$100 less than the average Comprehensive plan premium of S$356 offered by other insurance companies for a similar insured rider and motorbike.
The report also found that Budget Direct’s Third Party, Fire & Theft (TPFT) plans are the cheapest on the market for middle-aged riders with class 2B bikes, between 8 to 11 years old.
Their Third Party Only plan remains the cheapest in Singapore for older bikes between 6 to 12 years old.
To arrive at their decision, ValueChampion analysed five major motorbike insurance companies in Singapore and collected data on motorcycle insurance quotes. They compared premiums and benefits across a variety of age groups and motorcycles.
Meanwhile, the digital insurer for car, motorbike and travel has scooped the independent Feefo Platinum Trusted Service Award two years in a row.
The Platinum Award 2021 was presented in recognition of the insurer’s exceptional customer service.
More than 4,000 Budget Direct Insurance customers left their feedback on the independent Feefo reviews platform and awarded the insurer an average score of 4.6 out of 5.
Simon Birch, CEO of Budget Direct Insurance, said they’re delighted to be able to offer Singapore’s Cheapest Comprehensive Motorcycle Insurance 2021 whilst receiving independent recognition for exceptional customer service.
Simon Birch said: “Motor insurance doesn’t have to be expensive. We are able to offer almost unbeatable premiums for motorcycle insurance and also car insurance by insuring only safe motorists and offering customised cover, so motorists pay only for what they need. We don’t bundle our covers together and charge you for everything, as many insurers do. And we never compromise on service. We are proof that customers can enjoy affordable premiums and outstanding customer service, and we’re very proud of that.”
About Budget Direct Insurance
Budget Direct Insurance is an award-winning online digital insurance company. It is part of an international insurance group which provides insurance solutions for millions of policyholders worldwide. Their brands include EasyCompare in Thailand, Compare the Market in the UK, Budget Direct in Australia and Telesure in South Africa.
See ValueChampion for the full report.
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