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Budget Direct Insurance - Buddy ID


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Just bought my insurance online from Budget Direct and was give my buddy ID  - Buddy51830 

 

Anyone buying can key in this to get a further discount...

 

Seems quite competitive , even with Malaysia coverage and NCD protector. Hence gave it a shot this time round.

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I bought hyundai accent for 90k in 2015. Got rear ended recently. As my ride is still under warranty, I wanted to go back to komoco for OD claim as komoco doesn't do third party claim.

 

Estimated bill came up to 8.5k. But budget direct said its beyond economical repair and max upper limit claim was $5.5k...

 

Seriously???? My yearly depreciation alone is around 8k...

 

Really need to look for other insurance companies.. Anyone got good ones to recommend.

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I bought hyundai accent for 90k in 2015. Got rear ended recently. As my ride is still under warranty, I wanted to go back to komoco for OD claim as komoco doesn't do third party claim.

 

Estimated bill came up to 8.5k. But budget direct said its beyond economical repair and max upper limit claim was $5.5k...

 

Seriously???? My yearly depreciation alone is around 8k...

 

Really need to look for other insurance companies.. Anyone got good ones to recommend.

In the end what happened to your claim?

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I bought hyundai accent for 90k in 2015. Got rear ended recently. As my ride is still under warranty, I wanted to go back to komoco for OD claim as komoco doesn't do third party claim.

 

Estimated bill came up to 8.5k. But budget direct said its beyond economical repair and max upper limit claim was $5.5k...

 

Seriously???? My yearly depreciation alone is around 8k...

 

Really need to look for other insurance companies.. Anyone got good ones to recommend.

On assumption your accident happened in a common fashion, why did you claim your own insurance when you got rear ended?
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In the end what happened to your claim?

In the end, I went for third party claim via outside workshop.

 

The reason I did OD claim was komoco hyundai does not entertain third party claim. Third party claim against ntuc and it was successful.

 

For budget direct, they deemed the $8.5k repair for my 2015 Hyundai accent ($90k) to be beyond economical repair. They would rather view it as total lost at market value of $50k.

 

Really makes me think twice for my next renewal. Better steer away from budget direct.

On assumption your accident happened in a common fashion, why did you claim your own insurance when you got rear ended?

Cos komoco hyundai only do OD claim.
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don't be penny wise pound foolish

Fully agreed, got back my car from third party workshop fully repaired which has claimed against ntuc car insurance of the other vehicle.

 

Total claims amount to close to $6k. If I had took up rental car it would be like $6.5k.

 

And budget direct told me for my 3 year old car, the upper max claim limit is $5.5k. Beyond which it's beyond economical repair and got to declare total loss if cannot repair below 5.5k. Total loss is around $50k quoted by Julie where I checked online, my parf value now is $45.5k..............

 

And I top up for any car workshop premium ended up, buy also like never buy like that.

Edited by Ivan_06
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Fully agreed, got back my car from third party workshop fully repaired which has claimed against ntuc car insurance of the other vehicle.

 

 

 

Hi Ivan_06,

 

Apologies it took us some time to reply.

 

We are sorry to have put you through this difficult situation, (where your car is a potential total loss case if it was to be repaired at Komoco) and we are glad to know that you now have collected your car in a “swee swee” condition. We are also happy that you have eventually agreed to, on our claim officers’ advice, to repair your car at one of our approved workshops instead of the agent workshop, Komoco.

 

We would also like to take the opportunity to again clarify with you (as well as other fellow forum members) that:

 

  1. The current Market Value of a similar Hyundai Accent registered in 2015 at the time of your accident is in the range of $50~51k (despite you having bought the car at $90k only 3 years ago in 2015). This is due to the much lower COE which is now $32~34k vs. the average COE price then in 2015 which was at $50k. Note a brand-new Hyundai Accent (Auto) is now selling around $71,999.
  2. As you correctly put it, your own scrap value (residual COE value and PARF value) was $45.5k.
  3. This gives us an estimated repair range of $5.5k. (as rightly pointed out by Davidtch – body value).

  

As Komoco was not able to offer to lodge a Third-Party claim against NTUC Income on your behalf and also not able to accept our offer of $5.5k for repairs under your policy, our claim officers advised you to instead lodge either a claim under your policy with us at our panel of approved workshop where we are confident that we can repair your car. Alternatively, our panel of workshops could also help you claim directly against NTUC Income.

 

If you have chosen to claim under your policy with us and have your car repaired in our approved workshop, we would try to recover the repair cost against NTUC Income after we have settled your claim. Davidtch is again right to say that there is no Knock-for-Knock agreement between insurers in Singapore (we never said there is!) and there is a risk that this recovery might not be 100% successful. However, rest assured that in this situation, your policy will not be compromised and your NCD would also not be penalised upon your policy renewal.

 

Glad that you mentioned that the workmanship at our approved workshop is good. Our quick check with our workshop revealed that the initial repair cost claimed against NTUC Income was about $5.5k and the final cost of repairs is likely around $4.8k. Your total claim of less than $6k as mentioned by yourself is inclusive of loss of use of 5 days.   

 

Your add-on optional coverage of “Any Workshop” allows you to repair your vehicle at your own preferred workshop. However, in this instance, your preferred repairer, Komoco is not agreeable to repair within the above repair limit.

Please note that in usual circumstances, the repair cost/labour cost is usually much higher in an Agent/Distributor workshop as compared to our Approved Workshops.

 

We trust that the above clarification clears all your doubts.

Please feel free to contact our claims team @ 6540 2199 should you require any further assistance.

 

From Geoffrey, Shawn and the whole Budget Direct Insurance team.

 

PS: We posted our response here as well - as there is another thread (http://www.mycarforum.com/topic/2700944-survey-which-is-the-best-claims-motor-insurance-company/page-5) of same enquiry. Hope this provides clarity for other forumers. Thanks!

 

Edited by Geoffrey-BudgetDirect_Comm
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Hi Ivan_06,

 

Apologies it took us some time to reply.

 

We are sorry to have put you through this difficult situation, (where your car is a potential total loss case if it was to be repaired at Komoco) and we are glad to know that you now have collected your car in a âswee sweeâ condition. We are also happy that you have eventually agreed to, on our claim officersâ advice, to repair your car at one of our approved workshops instead of the agent workshop, Komoco.

 

We would also like to take the opportunity to again clarify with you (as well as other fellow forum members) that:

 

  • The current Market Value of a similar Hyundai Accent registered in 2015 at the time of your accident is in the range of $50~51k (despite you having bought the car at $90k only 3 years ago in 2015). This is due to the much lower COE which is now $32~34k vs. the average COE price then in 2015 which was at $50k. Note a brand-new Hyundai Accent (Auto) is now selling around $71,999.
  • As you correctly put it, your own scrap value (residual COE value and PARF value) was $45.5k.
  • This gives us an estimated repair range of $5.5k. (as rightly pointed out by Davidtch â body value).
As Komoco was not able to offer to lodge a Third-Party claim against NTUC Income on your behalf and also not able to accept our offer of $5.5k for repairs under your policy, our claim officers advised you to instead lodge either a claim under your policy with us at our panel of approved workshop where we are confident that we can repair your car. Alternatively, our panel of workshops could also help you claim directly against NTUC Income.

 

If you have chosen to claim under your policy with us and have your car repaired in our approved workshop, we would try to recover the repair cost against NTUC Income after we have settled your claim. Davidtch is again right to say that there is no Knock-for-Knock agreement between insurers in Singapore (we never said there is!) and there is a risk that this recovery might not be 100% successful. However, rest assured that in this situation, your policy will not be compromised and your NCD would also not be penalised upon your policy renewal.

 

Glad that you mentioned that the workmanship at our approved workshop is good. Our quick check with our workshop revealed that the initial repair cost claimed against NTUC Income was about $5.5k and the final cost of repairs is likely around $4.8k. Your total claim of less than $6k as mentioned by yourself is inclusive of loss of use of 5 days.

 

Your add-on optional coverage of âAny Workshopâ allows you to repair your vehicle at your own preferred workshop. However, in this instance, your preferred repairer, Komoco is not agreeable to repair within the above repair limit.

Please note that in usual circumstances, the repair cost/labour cost is usually much higher in an Agent/Distributor workshop as compared to our Approved Workshops.

 

We trust that the above clarification clears all your doubts.

Please feel free to contact our claims team @ 6540 2199 should you require any further assistance.

 

From Geoffrey, Shawn and the whole Budget Direct Insurance team.

The other reasons why I am frustrated with budget direct was when I renewed my car insurance, there were a number of hiccups like number of not at fault accidents being incorrectly reflected by budget direct..

 

When purchasing the car insurance, I used a promo code that was accepted as stated on your website but later was deemed not correct by another one of your staff about 1-2 weeks later as it is hidden under one of the small terms and conditions on a separate page.

 

The other staff also quoted way higher as she got my number of not at fault accidents wrongly back then in June.... I had to make separate phone calls to speak to another one of your guys who investigated and true enough the number of not at fault accident back then was 1 instead of 2. Imagine, I just blindly followed the first staff who called me about my insurance premium. Hence I needed to top up lesser as compared to what the first staff told me....

 

You can figure it out as there were amendments in my policy with a top up due to the promo code which was not honored as it is hidden under one of the small prints in another page or so...

 

Haiz...

Edited by Ivan_06
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Thanks for sharing the experience with regards to the "own workshop" and there is actually a limit.

 

I did a check with Direct Asia, appears there isnt such a limit. But must really do such claim in order to prove it.

 

I dun understand the part where Komoco does not help to do 3rd party claims? I wonder if CnC have similar issue.

 

For E.g.,

If kanna accident, and its really your own fault so claim from own insurer. So the process should be:

1) Car leave at cnc workshop.

2) Your insurer's inspector come and inspect the damage and negotiate with CnC the repair cost.

3) If agree, then CnC can do the repair and claim from Insurer. I have $0 excess, so insurer pays everything.

 

Problem is if Inspector refuse the repairs advised by CnC. Hmm..

 

Anyway, I did a quote on BudgetDirect. Didnt buy, thinking i better stick ti DirectAsia.

 

Then I got a phone call from BudgetDirect, if buy over the phone with the Filipino lady, got promotion to receive a $100 cash card!

 

So if u want Budget Direct, no harm waiting a bit. Hee..

Edited by Yixiang1
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Thanks for sharing the experience with regards to the "own workshop" and there is actually a limit.

 

I did a check with Direct Asia, appears there isnt such a limit. But must really do such claim in order to prove it.

 

I dun understand the part where Komoco does not help to do 3rd party claims? I wonder if CnC have similar issue.

 

For E.g.,

If kanna accident, and its really your own fault so claim from own insurer. So the process should be:

1) Car leave at cnc workshop.

2) Your insurer's inspector come and inspect the damage and negotiate with CnC the repair cost.

3) If agree, then CnC can do the repair and claim from Insurer. I have $0 excess, so insurer pays everything.

 

Problem is if Inspector refuse the repairs advised by CnC. Hmm..

 

Anyway, I did a quote on BudgetDirect. Didnt buy, thinking i better stick ti DirectAsia.

 

Then I got a phone call from BudgetDirect, if buy over the phone with the Filipino lady, got promotion to receive a $100 cash card!

 

So if u want Budget Direct, no harm waiting a bit. Hee..

CnC does third party claim.

 

Komoco doesn't. Can only do OD claim.

 

If the surveyor doesn't agree with the repairs suggested by CnC as it's beyond economical repair, you got to repair it outside. Or aka like what it's been said. Total loss.

Edited by Ivan_06
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CnC does third party claim.

 

Komoco doesn't. Can only do OD claim.

 

If the surveyor doesn't agree with the repairs suggested by CnC as it's beyond economical repair, you got to repair it outside. Or aka like what it's been said. Total loss.

Which company is your accent insured with now?
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Careful of this insurance company. There are hidden terms and conditions with regards to this $100 promotion. 

 

Just imagine this, you bought car insurance from them, when it comes to claim, another hidden terms and conditions may come out to catch you unaware. To me, if the promotion is already lacking of integrity from the company, the insurance itself is even worse.

 

Deny (merchant):
Good day Roger,

 
Thank you for getting a car insurance quote from Budget Direct Insurance. And thank you for your feedback. Sorry to hear you were not successful in our "Pay Less or Get $100" promotion.
 
We have had many successful applicants who have walked away with $100, but motorists do have to comply with our terms and conditions (https://www.budgetdirect.com.sg/get100).
 
We would like an opportunity to clarify this with you if possible; or should you have any queries at all - call us at 6221 2111 or email us at [email protected], we're here for you from 8 am to 8 pm, Mondays to Fridays and 9 am to 3 pm on Saturdays (excluding public holidays).
 
Have a great day ahead!
Deny
Budget Direct Insurance
6221 2111 or [email protected]
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