SINGAPORE, April 14, 2022 /PRNewswire/ — Budget Direct Insurance offers a new auto insurance product aimed at motorists who have had multiple accidents and/or claims. Called Higher Risk Car Insurance, the plan is designed for drivers who are struggling to obtain car insurance coverage in Singapore due to their history of accidents and/or claims.
In general, most insurers will consider motorists who have had two or more at-fault accidents and/or claims in the last three years to be high risk and therefore may have difficulty obtaining auto insurance coverage.
According to the online insurer, the launch of its highest risk car insurance product will help give motorists a second chance to get back on the road as soon as possible.
Simon Birch, CEO of Budget Direct Insurance, said: “We are very pleased to be able to launch this new product aimed at giving higher risk motorists another chance to get back behind the wheel quickly and easily. We all deserve a second chance, and this affordable new plan can be a lifeline for some motorists who might not otherwise be able to get coverage.”
Budget Direct Insurance says its new flexible higher risk auto insurance product will help give riskier motorists a second chance to get back on the road as quickly as possible.
The digitally award-winning insurer currently offers the cheapest comprehensive car insurance plans in Singapore, according to an independent consumer study by research firm ValueChampion.
One way it keeps its premiums low, the insurer says, is by covering only the safest drivers, thereby minimizing claims and ensuring lower premiums for all its customers. However, your new higher-risk auto insurance will be a separate product designed specifically for motorists who have had two or three accidents and/or at-fault claims in the last three years before applying for insurance.
Their higher risk comprehensive auto insurance plan offers a similar level of coverage and protection as Budget Direct’s standard comprehensive auto insurance policy, with options for customers to add additional benefits and customize their coverage to meet their needs and needs. your budget. Optional benefits available with the Major Risk Auto Insurance plan include 24-hour roadside assistance, medical expenses for the driver and passengers, and the choice of any auto repair shop.
Flexible higher risk auto insurance policy provides motorists with comprehensive coverage that includes third party liability and loss or damage to the car due to fire, theft and flood. Currently, the product does not offer third-party fire and burglary plans and only third-party plans.
Budget Direct Insurance CEO Simon Birch added that the higher risk auto insurance plan will be a welcome addition to its current auto, motorcycle and travel insurance products. He said: “Our higher risk car insurance product complements our current standard comprehensive car plan which is aimed at safer drivers. The launch of our new product for so-called riskier drivers allows us to expand our network and help provide premiums. cheaper to all drivers”. , not just those categorized as safer drivers.
“We hope that our higher risk auto insurance plan will be well received by motorists who want to get back on the road, and with a plan that is flexible and affordable.”
Budget Direct Insurance is an award-winning online digital auto, motorcycle and travel insurance company. It is part of an international group that offers insurance solutions for millions of policyholders around the world. Its brands include EasyCompare in Thailand, Compare the Market in the UK, Budget Direct in Australia and Telesure in South Africa.