Monday, August 28, 2017

Difficult to buy car insurance for older cars in Singapore - CEO of Budget Direct Insurance

Buying insurance for older cars can still be difficult despite record numbers of COE renewals, according to Simon Birch, CEO of Budget Direct Insurance.

This is his view as an industry expert that the majority of insurance companies do not sell policies for older vehicles online. Instead many customers of cars older than 10 years are assessed on a case by case basis and have to endure lengthier quote processing times. 
Simon Birch, CEO of Budget Direct Insurance

Birch said: "Owners of older vehicles have sometimes struggled to buy insurance online. It has been particularly difficult to get Comprehensive cover. Insurers need to stay up to date with Singapore motoring trends and that includes catering more to those with older vehicles and making it easier for them to buy." 

Online car insurance quote in 30 seconds

Birch believes that Budget Direct Insurance is one of the few that is making it easier for this sector of the motoring community. He said: "At Budget Direct Insurance, motorists, including those who own older vehicles, can get a quick quote online within 30 seconds. We are one of the few insurers who is able to give an online quote, especially for older cars." 
Frustrated customers have been turning to Budget Direct Insurance for help.
One such motorist is Yap Boon Fong Yvonne. Her current insurer was unable to
provide comprehensive insurance once her vehicle had reached more than 10 years old. She said: "I have been with them (my current insurer) for more than 10 years and they are not covering comprehensive for me. Thanks to Budget Direct I have what I want."
The matter was highlighted following the release of LTA figures showing that more than 14,000 car certificates were revalidated in the first five months of 2017. The figures also revealed that more owners were choosing to extend by 10 years instead of five.
Birch says this upward trend of motorists holding onto their cars for longer makes much better economic sense. He added: "A good car will last years. Renewing your COE is a great way to keep costs down. Paying less for your insurance is another way to save too. At the end of the day it makes for smarter motoring."
Visit for a quote today.
For further information, please contact Geoffrey Dickman on +65 9451 5116 or

About Budget Direct Insurance

Budget Direct Insurance is the trading name of Auto & General Insurance (Singapore) Pte. Limited, which is licensed by the Monetary Authority of Singapore, and bound by the regulations and requirements for insurers.
Budget Direct Insurance was built as a digital start-up here in Singapore, and it is part of BHL Holdings Limited ("BHL Group"), a privately owned, global group of companies whose principle businesses are engaged in insurance underwriting, direct insurance distribution, broking and related services, online comparison and property development.
The BHL Group provides insurance solutions to millions of policyholders across several countries. The BHL Group includes one of the largest direct personal lines insurers in South Africa, one of the largest personal lines intermediaries in the United Kingdom and the Budget Direct brand in Australia.

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