SINGAPORE, April 14, 2022 /PRNewswire/ — Budget Direct Insurance is offering a new auto insurance product for motorists who have had multiple accidents and/or claims. Appointed High risk car insurancethe plan is designed for drivers who find it difficult to obtain car insurance coverage in Singapore because of their accident and or claim history.
Generally, motorists who have had at least two at-fault accidents and/or claims in the past three years will be considered high risk by most insurers and therefore may have difficulty obtaining auto insurance coverage. .
According to the online insurer, the launch of its high-risk car insurance product will help give these 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 high-risk motorists another chance to get back behind the wheel quickly and easily. We all deserve a second chance, and this affordable new plan may be a lifesaver for some motorists who might otherwise find themselves unable to obtain coverage. »
The award-winning digital insurer currently offers the cheapest comprehensive auto insurance plans in Singaporeaccording to independent consumer research by research firm ValueChampion.
According to the insurer, one of the ways it maintains its premiums is by only covering safer drivers, which minimizes claims and guarantees lower premiums for all of its customers. However, their new high-risk auto insurance will be a separate product designed specifically for motorists who have had two or three at-fault accidents and/or claims in the last three years prior to applying for insurance.
Their higher all-risk auto insurance plan offers a similar level of coverage and protection as the standard Budget Direct Comprehensive. Car insurance policy, with options for the customer to add additional benefits and customize their coverage to suit their needs and budget. Optional benefits available with the High Risk Auto Insurance plan include 24-hour roadside assistance, medical expenses for driver and passengers, and choice of any shop for auto repairs.
The Flexible High Risk Car Insurance Policy provides motorists with comprehensive coverage, including third party liability and loss or damage to the car due to fire, theft and flood. The product does not currently offer Third-Party and Third-Party Fire and Robbery packages.
CEO of Budget Direct Insurance, Simon Birch added that the high-risk car insurance plan will be a welcome addition to their current car, motorcycle and travel insurance products. He said: “Our high-risk car insurance product complements our current standard comprehensive car plan which targets safer drivers. The launch of our new product for so-called higher-risk drivers allows us to expand our network and to help provide lower premiums to all drivers, not just those classified as safer drivers.
“We expect our high-risk car insurance plan to be warmly welcomed by motorists eager to get back on the road, and with a plan that is both flexible and affordable.”
About Budget Direct Insurance
Budget Direct Insurance is an award-winning online digital insurance company for cars, motorcycles and travel. It is part of an international group that provides insurance solutions to millions of policyholders around the world. Their brands include EasyCompare in ThailandCompare the market in the UK, Budget Direct in Australiaand Telesure in South Africa.
SOURCE Budget Direct Insurance