Budget Direct Insurance, a prominent digital insurer in Singapore, has unveiled its new Commercial Vehicle Insurance product.
This product is designed to cater to the specific needs of businesses, offering comprehensive coverage options to protect light goods vehicles like vans, lorries, and trucks, according to InsurTech Insights.
With a focus on small business owners, contractors, and fleet managers, the insurance aims to provide reliable protection against various risks, ensuring businesses have the coverage they need.
The introduction of the Commercial Vehicle Insurance product reflects Budget Direct Insurance’s commitment to enhancing its offerings and addressing the needs of businesses that rely on vehicles for their day-to-day operations.
This product aims to provide affordable, comprehensive protection tailored to the unique requirements of tradespeople, such as electricians and plumbers, who often depend on their vehicles to carry out their work.
Budget Direct Insurance is a digital-first insurer that focuses on providing accessible, cost-effective insurance solutions.
Operating in Singapore since 2016, the company offers a range of products including car, motorcycle, and travel insurance. Its direct-to-consumer model helps eliminate intermediaries, allowing customers to benefit from lower premiums while maintaining a high standard of coverage.
The new Commercial Vehicle Insurance product offers both comprehensive and third-party coverage options. It is designed to protect light goods vehicles from risks such as accidents, theft, and third-party liabilities.
The policy is especially tailored to the needs of tradespeople, contractors, and fleet managers, offering them peace of mind with reliable insurance coverage. The product is customisable to ensure businesses only pay for the coverage they require, with flexible options like 24-Hour Roadside Assistance and the Any Workshop benefit.
To offer additional flexibility, Budget Direct Insurance’s Commercial Vehicle Insurance allows businesses to choose optional add-ons.
These include the No Claim Discount (NCD) Protector, which ensures businesses don’t lose their discount if they make a claim, and the ability to repair their vehicle at any workshop of their choice. This flexibility ensures that businesses are getting value for money while protecting their critical assets.
Budget Direct Insurance CEO Simon Birch said, “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.”
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