Budget Direct Insurance Puts the Brakes on GST for Motor Insurance

SINGAPORE, Jan. 18, 2024 /PRNewswire/ -- Budget Direct Insurance is disrupting the insurance industry by introducing a bold initiative to cover the full 9% GST on motor insurance with its latest promotion. This strategic step aims to provide better value for customers, giving them the advantage of a 9% GST savings in e-vouchers when they purchase a new car or motorcycle insurance policy online.

Easing Concerns Amidst GST Hike

In light of the recent GST hike, which has prompted concerns among some Singaporeans, Budget Direct Insurance is pleased to introduce a measure aimed at providing a welcome sense of relief.

Simon Birch, CEO of Budget Direct Insurance, said: "In a time where the GST rate has increased from 7% to 9% over the last two years, Budget Direct is proud to present a solution that directly addresses the concerns of some Singaporeans. Our full GST savings initiative is a commitment to providing unbeatable value and a tangible benefit for customers in these challenging times."

While several companies are offering to absorb the recent 1% GST hike, Budget Direct has gone much further with their offer to cover the full GST amount. This bold approach ensures that customers avoid the impact of the GST hike by receiving a 9% GST savings in e-vouchers, providing them with exceptional value.

A Commitment to Savings

CEO Simon Birch highlights the company's dedication to offering substantial savings with the brand's Pay Less or Pay Nothing Challenge. This unique campaign invites drivers to obtain a comprehensive car insurance quote from Budget Direct and compare it with their current insurer's renewal notice. If Budget Direct Insurance confirms that the premium in the renewal notice is cheaper for the same level of coverage, motorists receive free insurance from Budget Direct.

Simon Birch elaborates, "Our focus is on highlighting substantial savings. Drivers with us can make a saving of up to 55% on car insurance premiums, and that's a significant sum. While many insurance companies offer promotions such as discounts, vouchers, and cashback, an independent study confirms that Budget Direct Insurance consistently provides better premiums."

An independent study conducted by consumer researchers, ValueChampion, substantiates Budget Direct's position as the provider of Singapore's cheapest comprehensive car insurance plans. Regardless of gender and No Claims Discounts (NCD), Budget Direct customers enjoy insurance premiums up to 55% lower than the average rates offered by other insurers.

Award-Winning Customer Service Team

Beyond providing affordable premiums, Budget Direct Insurance's commitment to exceptional customer service has garnered accolades, including the prestigious Feefo Platinum Trusted Service Award. This independent global award is presented to companies that consistently provide outstanding customer experiences. With nearly 9,000 satisfied customers sharing their feedback on the independent reviews' platform, the digital online insurer has earned an impressive average score of 4.7/5 stars, solidifying its reputation as a customer-centric insurance provider.

For more information on Budget Direct's SAVE9GST offer and the Pay Less or Pay Nothing Challenge, visit the official website at budgetdirect.com.sg.

About Budget Direct Insurance

Budget Direct Insurance is an award-winning online digital insurance company for car, motorcycle, and travel. It is part of an international group which provides insurance solutions for millions of policyholders worldwide. Their brands include Compare the Market in the UK, Budget Direct in Australia, and Telesure in South Africa.

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SOURCE Budget Direct Insurance Singapore