Budget Direct Insurance Launches Commercial Vehicle Insurance in Singapore

SINGAPORE, Jan. 21, 2025 /PRNewswire/ -- Budget Direct Insurance, a leading direct-to-consumer digital insurer, has announced the launch of its Commercial Vehicle Insurance product, designed to meet the needs of businesses in Singapore. This latest offering reaffirms the company's commitment to delivering value-driven insurance solutions while leveraging its direct-to-consumer model to offer competitive premiums and exceptional customer service.

Since its launch in Singapore in 2016, Budget Direct Insurance has provided a range of tailored insurance products, including car, motorcycle, and travel insurance. Later, the company expanded its offerings to include higher-risk car insurance, further addressing the diverse needs of its customers.

By bypassing traditional intermediaries, the insurer eliminates unnecessary costs, enabling customers to enjoy significant savings without compromising on the quality of coverage. This approach has garnered widespread customer trust, reflected in the insurer's Exceptional rating of 4.7 out of 5, based on more than 10,000 verified reviews on the independent review platform Feefo.

Simon Birch, CEO of Budget Direct Insurance, highlighted the importance of this new offering:
"We are thrilled to expand our range of products with the introduction of Commercial Vehicle Insurance. Businesses rely on their vehicles as critical assets, and our goal is to provide them with affordable, reliable protection while maintaining the high standards our customers have come to expect. This launch is a testament to our dedication to meeting the evolving needs of businesses in Singapore."

The new Commercial Vehicle Insurance product provides comprehensive and third-party plans for a range of light goods vehicles, including vans, lorries and trucks. It is designed for small business owners, contractors, or those managing a fleet of commercial vehicles, ensuring coverage that fits diverse operational needs. Tradespeople such as plumbers, electricians, and other professionals who rely on their vehicles for daily work are also catered to under the new policy.

The policy protects against risks such as accidents, theft, and third-party liabilities, ensuring businesses can maintain continuity and safeguard their critical assets. Customers can further customise their coverage to align with their specific operational requirements, paying only for what they need. This flexibility is made possible through features such as optional add-ons, including 24-Hour Roadside Assistance, which provides support in case of breakdowns, and the No Claim Discount (NCD) Protector, allowing policyholders to preserve their 20% NCD. Customers can also opt for the Any Workshop benefit, offering the convenience of having their vehicle repaired at a workshop of their choice. This tailored approach ensures peace of mind and protection that fits their unique needs.

The launch of the Commercial Vehicle Insurance product aligns with Budget Direct Insurance's overarching mission to simplify the insurance process using technology and a customer-first approach.

 The company is part of an international insurance group that provides solutions to millions of policyholders worldwide. With operations across four continents, the group includes one of the largest direct personal lines' insurers in South Africa and a leading personal lines insurance intermediary in the United Kingdom. The group's brands include Compare the Market in the UK, Budget Direct in Australia, and Telesure in South Africa.

Budget Direct Insurance's policies are underwritten by Auto & General Insurance (Singapore) Pte. Limited and regulated by the Monetary Authority of Singapore (MAS). The company adheres to all MAS regulations, ensuring transparency, compliance, and reliability.

For more information about Budget Direct Insurance's Commercial Vehicle Insurance, visit www.budgetdirect.com.sg/commercial-vehicle-insurance.