For the first time in Singapore, motorcycle owners can buy low cost third-party only insurance directly through the Internet, without going through insurance agents.
DirectAsia.com is now offering motorcycle insurance online, in addition to its existing car insurance, personal accident insurance, home insurance and travel insurance services. Customers do not need to go through a middleman and thus avoid having to pay agency fees. As a result, they enjoy lower premiums.
From quotation to purchase of policy, the entire process takes only a matter of minutes, and consumers enjoy the added convenience of doing this from anywhere, anytime, with an Internet-enabled device.
Simon Birch, Chief Executive Officer of DirectAsia.com said, "Customers can buy their policy with us online or over the phone 24/7 whenever it suits them. You can get a quote in 60 seconds and have your printed insurance policy documents within five minutes."
To qualify for DirectAsia.com's motorcycle insurance, the rider has to be between 25-65 years old and does not use his/her motorcycle for commercial purposes or for hire or reward.
Birch added that most riders wanted a simple and straight-forward policy that would keep them covered on the road. He explained: "Thats why we've come up with a Third Party Only insurance plan. Whether riders use their motorbike to get to and from work or for leisure, our low-cost Third Party Insurance policy gives motorcyclists the cover they need."
The Third Party Only insurance covers all types of motorcyclists on the roads, not just in Singapore, but Malaysia and parts of Thailand as well.
Under a Third Party Only (TPO) policy, the policy holder is covered for liabilities to third-party bodily injuries and third-party property damage and for legal expenses related to the accident.
Like most other motorcycle insurance policy in the market, it does not cover the driver for injury and death. However, policyholder could always get a separate Personal Accident cover if he/she does not already have one.
Fully licensed and regulated by the Monetary Authority of Singapore, DirectAsia.com is fully owned by Whittington Group, an international insurance investment business headquartered in Singapore and reinsured by Munich Re.
