Budget Direct's motorcycle insurance is a good option for safe and experienced motorcycle owners looking for a budget plan. Its Comprehensive plan premiums are some of the lowest on the market if you hold a 20% NCD or own a older bike (over 6 years old). However, you should be prepared to spend extra money on benefits that are typically included in other insurer's base plans. While it can be a great option for riders who prefer to pick and choose their benefits, it may not benefit riders who are looking for an easy all-in-one plan.
Table of Contents
|Budget Direct Insurance Quick Facts|
|Customer rating (Feefo): 4.6/5|
Budget Direct Comprehensive Motorcycle Insurance Highlights
Budget Direct's motorcycle insurance plan can be a good option for safe riders looking for comprehensive but affordable coverage. Unlike other Comprehensive plans on the market, Budget Direct's Comprehensive plans cover bikes older than 6 years. This is a fairly unique feature—only Direct Asia provides Comprehensive insurance plans for bikes older than 6 years, for a premium that is 34% higher than Budget Direct. Furthermore, Budget Direct is the only insurer to provide Comprehensive coverage for bikes that are over 10 years old.
If you have a 20% NCD, Budget Direct offers premiums that are 11-34% below average, with bike owners of bikes up to 200cc's and over 400cc's seeing the cheapest premiums on the market (28-34% below average). Budget Direct also changes premiums based on your motorcycle's colour. Our premiums accounted for a black bike, so if your bike is light (ex: white or yellow), your premiums will be an extra 10% cheaper. For more savings, you can choose a Singapore Only cover that will reduce your premiums by 5% if you don't ride outside of Singapore.
In terms of coverage, Budget Direct's Comprehensive plan provides standard benefits: towing, S$500,000 of third party property damage, unlimited third party liability for death or bodily injury and coverage for damage done to your bike due to theft, vandalism, natural disasters or accidents. The other benefits, such as 24-hour roadside assistance, daily transportation allowance, personal accident, NCD protection all cost extra. Having all these benefits available as add-ons will make Budget Direct a good option for riders who like to customise their policies. Combined with its competitive premiums and simple base coverage, Budget Direct will benefit riders with older bikes that don't want to overpay for coverage they don't need. On the other hand, it will be less beneficial for people looking for bundled coverage or new riders who want cheap, all-inclusive coverage.
Budget Direct TPFT & Third Party Only Motorcycle Insurance Plan Highlights
Budget Direct's Third Party, Fire & Theft (TPFT) plans are a good option for riders of older motorcycles who are looking for cheap TPFT plans on the market. While it is not the cheapest TPFT plan on the market for riders, especially for riders of 2A bikes (premiums for this cohort range 5-22% above average), Budget Direct's TPFT plan costs 9-17% below average for middle-aged riders who have a 20% NCD and own bikes with engine capacities of under 200cc's or over 400cc's. Budget Direct's TPFT plan remains the cheapest option for used bike owners looking to insure a bike that's 8-11 years old, with premiums 16-23% below average. The coverage is standard for TPFT plans, consisting of unlimited coverage for 3rd party bodily injury or death, S$500,000 of 3rd party property damage coverage and S$3,000 of legal costs coverage. You may also choose to purchase a variety of additional add-ons.
Budget Direct's TPO plan is not as competitively priced as its Comprehensive and TPFT plans. In fact, most riders can see premiums up to 40% above the TPO average, especially those riding class 2A bikes. That said, there are a few exceptions. First, when you compare premiums that include all the add-ons offered by Budget Direct and other insurers, then prices for riders of class 2B bikes who have a 20% NCD drop to 7-8% below average. The additional 5% discount for driving only in Singapore can also provide a bit of a discount, though not enough to beat out some of the other competitors. Second, if your bike is between 6-10 years old, then Budget Direct's TPO premiums will be the cheapest on the market, making it a decent value plan for used bike owners who are looking for the simplest, cheapest coverage with additional coverage for 3rd party property damage and third party death or bodily injury and other benefits such as personal accident and medical coverage.
Optional Add-ons & Features
Budget Direct has a variety of optional add-ons. They range from personal accident and medical coverage to roadside assistance and a transport allowance (if your motorcycle was lost or damaged). Budget Direct also offers a No Claim Discount Protection benefit for people with 20% NCDs that allows them to make one claim without affecting their NCD. Lastly, there is also the option of making your coverage Singapore only, which will result in a 5% premium discount.
Budget Direct also offers a Named Rider Plan. This plan will cover you (the Main Rider) and one other person who shares your bike.
|Benefit||Coverage Limits||Available For:||Extra Cost|
|Personal Accident||S$20K-S$50K||Comp., TPFT, TPO||S$25.68-S$42.80|
|Medical Expenses||S$2,500 (S$100 Excess)||Comp, TPFT, TPO||S$25.68|
|No Claim Discount Protection||N/A||Comp,TPFT, TPO||S$36.82|
|Overseas Emergency Allowance||S$500 towing||Comp., TPFT||S$42.80|
|24 Hour Roadside Assistance||N/A||Comp., TPFT||S$21.40|
|Daily Transport Allowance||S$30/day for 10 days||Comp. TPFT^||S$42.80|
|Modifications and Accessories||N/A||Comp., TPFT^||N/A|
|Singapore Only Cover||5% Premium Discount||Comp.||N/A|
|^For fire or theft claims only|
Excess & Exclusions
Budget Direct's standard policy excess is S$300. However, you have the option of increasing your excess to S$800 in exchange for a lower premium or reduce your excess to S$0 in exchange for a higher premium. There is also a S$500 excess for named riders below 25 years of age and a S$500 excess for a named rider who has had a valid license for less than 2 years.
Budget Direct has standard policy exclusions. You will not be covered for depreciation, wear and tear, or mechanical, electrical and/or structural breakdown. There is also no coverage for damages due to negligence or failure to safeguard your motorcycle. You also won't be covered if you are a driving instructor who uses their bike during training, entertainment industry professionals, sportsmen/women, foreign diplomats and foreign armed forces personnel. For more exclusions, please see the list below. You should also refer to your policy contract for the full list of exclusions and policy limitations.
- Operating motorcycle by someone who is not authorised
- Using motorcycle for bulk transportation of goods, gasoline
- To carry passengers for hire
- Using motorcycle for hire or rental to others
- Riding outside geographical limits of policy
- Claims related to tire damage unless motorcycle suffers damage as well
- Loss or damage to personal items
- Malfunction or failure that is mechanical, structural, electrical, electronic, computer or caused by computer program failure
- Indirect or consequential loss or damage
- Damage caused by using incorrect fuel
- Damage caused by discharge or escape of oil, coolant, pollutant or contaminant other than due to collision.
Budget Direct Claims Information
You can file a claim with Budget Direct via email, fax, in-person or over the phone. You will be directed to a claims executive who will be responsible for handling your claim. You'll also be able to download a private settlement form from them as well, should you choose that route. Please note you need to report an accident to the police if someone is injured or dies, a hit-and-run situation occurs, or a government vehicle/property, foreign vehicle or pedestrian/cyclist is involved in the accident.
|Customer Service||+65 6221 2111|
|Claims Hotline (24 Hours)||+65 6221 2199|
|Claims Information||Claim forms|
|Claims E-mail||[email protected]|
|Mailing Address||190 Clemenceau Avenue, #03-01, Singapore Shopping Centre, Singapore 239924|
Budget Direct Motorcycle Insurance Features & Benefits
The best motorcycle plan for you will be one that provides the best protection for your needs for an affordable price. Below, we've summarised the coverage provided by Budget Direct's motorcycle insurance plans. If you would like to see how they compare to other plans on the market, you can read our comprehensive guide to the best motorcycle insurance in Singapore.
|Standard Excess||N/A||S$300 (N/A if due to fire)||S$300|
|Young Rider Excess||N/A||N/A||S$500|
|Inexperienced Rider Excess||N/A||N/A||S$500|
|Accidental Damage/Loss||N/A||N/A||Market Value|
|Loss or Damage from Fire/Theft||N/A||Market Value^||Market Value^|
|24-Hour Emergency Assistance||N/A||Add-on||Add-On|
|Legal liability (3rd Party Death or Bodily Injury)||Unlimited||Unlimited||Unlimited|
|Legal Liability (Legal Liability to 3rd Party Property Damage)||S$500,000||S$500,000||S$500,000|
|Legal costs & expenses following a motorcycle accident||S$3,000||S$3,000||S$3,000|
|Market Value at time of loss|