Who is Budget Insurance?
Budget Insurance was launched in 1998 to provide low budget and low premiums for short term insurance options. Budget Insurance is part of the Telesure Group which includes: 1Life Direct; 1st for women; Auto & General; Dial Direct; Hippo Insurance; Virseker: ibuyeco; Unity Insurance; Prosper; Virgin Money Insurance and AA Insurance. Based on their website, Budget Insurance is an authorised financial services provider.
Budget Insurance, as part of Telesure Investment Holdings (PTY) LTD, is also part of an international financial services group that includes the BLG Group and Budget Holdings Ltd in Guernsey UK. Telesure represents the interests of this global group in South Africa. T.J. Creamer is the current managing director of Budget Insurance in South Africa.
Where is Budget Insurance located?
Budget Insurance is located at Auto & General Park, 1 Telesure Lane, Riverglen, Dainfern.
What services does Budget Insurance offer?
Budget Insurance offers a range of low budget and low premium policies to cover vehicles including cars, motorcycles, caravans and trailers, as well as home insurance, building and business insurances covers. Budget Insurance also offers cover for portable possessions and value added products as well as personal loans.
Let's take a closer look at the car insurance options. Budget Insurance offers the typical range of car insurance covererage including comprehensive car insurance; third-party car insurance, fire and theft insurance; and third-party coverage only.
Comprehensive car insurance: This covers you for accidental damage, theft or fire related damages, and any damage you may cause a third party.
Third party, fire and theft car insurance: This provides coverage in the event of a fire, theft, hijacking or damages caused to another vehicle or property. This does not cover you for accidental damage to your vehicle.
Third party only: This only covers damages to a third party as a result of an accident you cause. While this option is the cheapest, you also get the least amount of coverage. This option is best for those who have a car with low value.
Through their value added products, Budget Insurance offers several benefits for their customers. These include:
- Touch-Up cover, which as its name implies, is designed to give you cover for the small touch-ups after minor dents, chips and scratches.
- Tyre & Rim Guard covers accidental damage to tyres and rims as a result of potholes and poor road conditions.
- Auto Top Up covers financing issues, including outstanding amounts or deposits in cases when a car purchase has been financed and it has been damaged or stolen and cannot be recovered or ‘is considered written off.’
How user-friendly is the Budget Insurance website?
The Budget Insurance website is simple yet attractive due to its clean layout and large text which makes it easy to read and navigate. As a potential customer looking for information, the website has a very limited description of its history, as well as no mention of the larger companies with whom they are a part. In terms of information regarding car insurance specifically, the website does provide a detailed description of its 3 coverage options, as well as elaborates on its benefits once you’ve signed up. So, although not perfect, Budget Insurance’s website did provide at least some helpful information.
How to file a claim with Budget Insurance
On the Budget Insurance website, there is a link on the top right corner that says “submit a claim.” Clicking on that allows you to create an online account, thorugh which you can electronically submit your claims. They also have a dedicated number for claims/policy services, which is 0860 10 46 06.
What are the customer reviews of Budget Insurance?
Over the past 12 months, Budget Insurance received just over 1500 reports through hellopeter. Of those, 73% were compliments, while 27% were complaints. That’s more than 2 ½ times more compliments than complaints! In looking at the nature of the complaints, none of the categories stood out as having particularly high percentages. Both “repairs/servicing” and “feedback/response” were the highest, but again not significantly high. This indicates the two areas that Budget Insurance could stand to improve based on the feedback. Most reports received a response from the company. Although the overall reviews were good, the company would do itself well, and its customers, if it were to respond to all the reports – thus showing each and every customer that their feedback and experience is important.
Summary
Budget Insurance was launched in 1998 with the aim of offering low cost insurance coverage in South Africa. While offering a range of insurance products, Budget Insurance does a pretty good job explaining their insurance options through their website, and only lacks giving some information about their company history and their association with other companies in the insurance field. Overall, if we look at the customer reviews, Budget Insurance is clearly doing something right. In order to find out if it is the best fit for you, read reviews about other insurance companies in south africa and also read how to find affordable car insurance. Then compare online car insurance quotes (by using any of the forms provided on our website or here above).
Main subject: Budget Insurance
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Pretty! This has been a really wonderful article.
Thank you for providing these details.
thanks for the informative post. I'm not too fond of any of the insurance companies but at least now I get to see a few reviews and make a more informed decision.