[BudgetDirect] Check your renewal quote against new quote!

ajax_84

Senior Member
Joined
Oct 3, 2004
Messages
1,615
Reaction score
3
I received my renewal quote from BudgetDirect. They even had a 'promotion': early bird $30 vouchers and loyalty $30 vouchers.


gHM052c.jpg


As you can see, the premium is $626, and after the $60 vouchers, it's $566.

I then decided to pretend to be another person to get a new quote, based on exact same age, residential address, occupation, etc. Everything the same. And the quote is:

5khwPcL.jpg


Honestly, I'm shocked at how they are using false marketing, and also penalising loyal customers. Inflate the premium, and pretend to give vouchers, but the result is actually higher than a new quote.

The CSO on the hotline even said that we cannot get a new quote, and have to accept the renewal quote. Otherwise, have to jump ship to another insurer before coming back again with new quote the following year. What rubbish!

Those on BudgetDirect, please check.
 

iduncheckmail

Supremacy Member
Joined
Nov 24, 2002
Messages
5,659
Reaction score
2,183
Please la. This happens everywhere in insurance industry .
you go the other insurer, 1 yr later also same thing . Duh .
 

EJB

High Supremacy Member
Joined
May 24, 2001
Messages
48,391
Reaction score
6,268
That kind of price is my comprehensive plan with MSIG on my previous car. I don't even need budget insurance for it :s13:
 

hachi

High Supremacy Member
Joined
Nov 15, 2000
Messages
28,088
Reaction score
6,116
Is normal...at the end of the day, they re still cheaper when I tried other insurance companies... Don't lost sleep over 100 plus...
 

ajax_84

Senior Member
Joined
Oct 3, 2004
Messages
1,615
Reaction score
3
Is normal...at the end of the day, they re still cheaper when I tried other insurance companies... Don't lost sleep over 100 plus...
Nope, the renewal is definitely not cheaper, only the "new" quote is cheaper. DirectAsia offered similar to their "new" quote, and so yeah, Budget Direct's renewal quote isn't cheaper than others. Anyway , definitely not losing sleep. Just calling them out for this kinda practice. And noted about how this is "normal", but it isn't right imo. It might be a "normal" practice but it doesn't justify it to be correct.
 

myviowner

Supremacy Member
Joined
Sep 6, 2017
Messages
9,174
Reaction score
781
Willing to spend hundreds of thousands on a metal when is junk after 10 years. But compare and compare to get cheapest car insurance plans available.
Humans are very weird indeed.
 

cybertech

Arch-Supremacy Member
Joined
Dec 3, 2000
Messages
15,397
Reaction score
939
Yes indeed my coming renewal is $50+ more expensive than compare to current one paid last year. You still got loyalty $30 vouchers mine only $26 shopping voucher.
If remember correctly all my past insurance renewal (from different ins c/o) always more expensive than previous year one.
 

bluethesky

Master Member
Joined
Oct 5, 2019
Messages
4,991
Reaction score
1,536
I received my renewal quote from BudgetDirect. They even had a 'promotion': early bird $30 vouchers and loyalty $30 vouchers.


gHM052c.jpg


As you can see, the premium is $626, and after the $60 vouchers, it's $566.

I then decided to pretend to be another person to get a new quote, based on exact same age, residential address, occupation, etc. Everything the same. And the quote is:

5khwPcL.jpg


Honestly, I'm shocked at how they are using false marketing, and also penalising loyal customers. Inflate the premium, and pretend to give vouchers, but the result is actually higher than a new quote.

The CSO on the hotline even said that we cannot get a new quote, and have to accept the renewal quote. Otherwise, have to jump ship to another insurer before coming back again with new quote the following year. What rubbish!

Those on BudgetDirect, please check.
Ya, it is like that. But not many insurance brokers can offer lower quotes than BD. After few years u will get used to their pattern.
 

EJB

High Supremacy Member
Joined
May 24, 2001
Messages
48,391
Reaction score
6,268
Ya, it is like that. But not many insurance brokers can offer lower quotes than BD. After few years u will get used to their pattern.
At that kind of price, I don't even find BD attractive.
 

chehjin

Supremacy Member
Joined
Jun 2, 2000
Messages
6,304
Reaction score
542
At that kind of price, I don't even find BD attractive.
BD is for those solo drivers. Dun go malaysia. Dun wan tow truck etc etc. it’s for people who wan to opt out of features they feel they dun need or dun use. If u choose as per outside insurance plans, they are roughly the same.
 

EJB

High Supremacy Member
Joined
May 24, 2001
Messages
48,391
Reaction score
6,268
BD is for those solo drivers. Dun go malaysia. Dun wan tow truck etc etc. it’s for people who wan to opt out of features they feel they dun need or dun use. If u choose as per outside insurance plans, they are roughly the same.
I don't go into msia, my car is driven solely by me, and it's comprehensive packaged. It's only $750, what's the lure of BD if anything also don't want? Might as well get 3rd party.
 

chehjin

Supremacy Member
Joined
Jun 2, 2000
Messages
6,304
Reaction score
542
I don't go into msia, my car is driven solely by me, and it's comprehensive packaged. It's only $750, what's the lure of BD if anything also don't want? Might as well get 3rd party.
BD u dun opt for u dun pay for it lor. BD also have comprehensive plan. Ur use case and others different. U happy with ur insurance can liao lor.
I’m just saying this is BD’s operating model. There’s plenty of people who thinks it makes sense to them.
 

myviowner

Supremacy Member
Joined
Sep 6, 2017
Messages
9,174
Reaction score
781
BD... same like budget airline. Comes with bare ticket/policy as std. You want this, add, you want that add...
However, many ppl just look at the PRICE and says very cheap.... signed like then realized that this dun have that dun have.
I must say that BD is smart in TRAGETTING the consumer's buying behavior when coming to vehicle insurance.
 

EJB

High Supremacy Member
Joined
May 24, 2001
Messages
48,391
Reaction score
6,268
BD u dun opt for u dun pay for it lor. BD also have comprehensive plan. Ur use case and others different. U happy with ur insurance can liao lor.
I’m just saying this is BD’s operating model. There’s plenty of people who thinks it makes sense to them.
If it makes sense then one won't complain so much on the price and then justify it works for them. Buy this opt that out opt this out, then complain still ex.
 

chehjin

Supremacy Member
Joined
Jun 2, 2000
Messages
6,304
Reaction score
542
If it makes sense then one won't complain so much on the price and then justify it works for them. Buy this opt that out opt this out, then complain still ex.
That one is personal problem. Haha. BD very open about what is included and not. Exactly like what @myviowner mentioned. It’s like budget airline.
For myself I took BD cos I had to start from 0 NCD. So the savings is quite a lot. Once I build my NCD probably just go back to full insurer liao if minimal difference.
 

EJB

High Supremacy Member
Joined
May 24, 2001
Messages
48,391
Reaction score
6,268
That one is personal problem. Haha. BD very open about what is included and not. Exactly like what @myviowner mentioned. It’s like budget airline.
For myself I took BD cos I had to start from 0 NCD. So the savings is quite a lot. Once I build my NCD probably just go back to full insurer liao if minimal difference.
Basing it on just package coverage is not wise. You need reputed insurers not because it's 'cheap'. 'Cheap' has its thrills too.
 

edmwing

Senior Member
Joined
Mar 2, 2019
Messages
1,965
Reaction score
1,461
Nope, the renewal is definitely not cheaper, only the "new" quote is cheaper. DirectAsia offered similar to their "new" quote, and so yeah, Budget Direct's renewal quote isn't cheaper than others. Anyway , definitely not losing sleep. Just calling them out for this kinda practice. And noted about how this is "normal", but it isn't right imo. It might be a "normal" practice but it doesn't justify it to be correct.
So did you get BD in the end?

This is a market practice - lure new customers in with good terms and milk them till they realize and jump ship. E.g. Telcos. Thanks for creating awareness, I think quite a lot people do not realise.
 

edwinttt1978

Supremacy Member
Joined
May 13, 2013
Messages
7,087
Reaction score
31
“BD provides me with comprehensive coverage at a fraction of what other companies offer. These companies sell according to their needs, not the customers’ needs. I wished I had discovered BD sooner, having saved some $700+ this year since enrolling with BD. The savings are in time to splurge on the rising petrol costs. Thanks BD.”
- a BD customer since 2022

A87PT2G.jpg
 
Important Forum Advisory Note
This forum is moderated by volunteer moderators who will react only to members' feedback on posts. Moderators are not employees or representatives of HWZ. Forum members and moderators are responsible for their own posts.

Please refer to our Community Guidelines and Standards, Terms of Service and Member T&Cs for more information.
Top