Direct personal lines insurer Budget Direct has taken out Money magazine’s “Insurer of the Year” award.

The award was one of many categories in the investment magazine’s 2010 Consumer Finance Awards, which take into account more than 19,000 financial services and products from more than 300 financial providers.

The Insurer of the Year award evaluates providers of home and contents lines as well as car and travel insurance products.

Budget won kudos for its discounts and benefits as well as a wide-ranging pricing structure.