bike insurance

[ffe]

hi, i just heard from a bike shop that insurance (including fire and theft) cost about 1.7k for a 18 or 19 year old P plate. is it true that bike insurance are that expansive?

[smudge]

true.. axa insurance is one of the cheaper ones available but too bad the company doesnt cover for those below 20.. so u are just left with either ntuc and mitsui if im not wrong.. for ntuc, fire n theft cost ard 1.7k for ur age and 3rd party will cost ard 1k.. mitsui will cost much more.. dont worry ntuc allow u to pay by installments..

[ffe]

okay thanks. does it mean that the 1.7k is for all types of bikes? or if i get bikes like spark or x1 will it be cheaper?

[Xenophobia07]

true.. axa insurance is one of the cheaper ones available but too bad the company doesnt cover for those below 20.. so u are just left with either ntuc and mitsui if im not wrong.. for ntuc, fire n theft cost ard 1.7k for ur age and 3rd party will cost ard 1k.. mitsui will cost much more.. dont worry ntuc allow u to pay by installments..

 

You must be 21 to pay by installment, checked with them last Friday morning.

[barefoot]

song song gao jurong . . . 1k . .

[louisyhw]

You must be 21 to pay by installment, checked with them last Friday morning.

 

but then like that can i put my mother as the owner of my bike then me as sub rider? my mom no class 2b but can that be done? thanks!

 

or wait, is it insured under her name but i'm the rider? which one ah. doesn't matter right if the bike owned under whose name? Please advise, thanks!

[louisyhw]

anyone?

[louisyhw]

hi, i just heard from a bike shop that insurance (including fire and theft) cost about 1.7k for a 18 or 19 year old P plate. is it true that bike insurance are that expansive?

 

hey bro, i just called up ntuc to check for quotation for sp 18yo p plate.

 

cost around $600 for FT plated SP. 1k for TPFT.

[Pplater]

but then like that can i put my mother as the owner of my bike then me as sub rider? my mom no class 2b but can that be done? thanks!

 

or wait, is it insured under her name but i'm the rider? which one ah. doesn't matter right if the bike owned under whose name? Please advise, thanks!

 

Your mum can own the bike and sub rider you. My suggestion is to take 3rd party only. For class 2B second hand bikes, the insurance costs for fire and theft may not be worth the insurance cost. Most people tend to take third party only.

[louisyhw]

thanks for the tip bro!

[blast3dGaL]

anyone knows, if i already have car insurance, do i have to get a separate bike insurance? or is there like a 2in1 insurance for both vehicles owned by me?

[redname]

anyone knows, if i already have car insurance, do i have to get a separate bike insurance? or is there like a 2in1 insurance for both vehicles owned by me?

 

its 2 separate vehicles, so its 2 diff insurance

[Xenophobia07]

anyone knows, if i already have car insurance, do i have to get a separate bike insurance? or is there like a 2in1 insurance for both vehicles owned by me?

 

Its 2 separate Insurances, which also means no NCD for your Bike Insurance.

[Xenophobia07]

but then like that can i put my mother as the owner of my bike then me as sub rider? my mom no class 2b but can that be done? thanks!

 

or wait, is it insured under her name but i'm the rider? which one ah. doesn't matter right if the bike owned under whose name? Please advise, thanks!

 

You can't put your mother as the Owner of the bike, as she has no Class 2B license for that bike.

 

Also, the Main Insured Rider must be the owner of the bike. For example, if your insurance shows that you are the Sub Rider, you can't have the bike registered under your name. The bike will be registered under the name of the Main Rider.

[louisyhw]

You can't put your mother as the Owner of the bike, as she has no Class 2B license for that bike.

 

Also, the Main Insured Rider must be the owner of the bike. For example, if your insurance shows that you are the Sub Rider, you can't have the bike registered under your name. The bike will be registered under the name of the Main Rider.

 

oh okok thanks for the info!

 

guess have to full cash for my insurance then..

[Pplater]

eh.. i don't think you need a license to own a bike leh. Some people buy bikes just to collect, its put under "not riding". A lot of riders haven't pass 2B also buy bike. TS mum put owner as herself, sub rider TS and TS rides it is no problem, correct me if i'm wrong.

 

Also huh.. this thread like in the wrong section leh.

[meatdux]

yeah bro.. i think pplater is right..

 

when i bought my drz,

my mum became owner(no license)

insurance no problems.. owner of bike not riding also can..

 

and then i heard..

if owner not riding.. can have 2 subriders in the insurance..

not sure true or not.

(i didnt ask about that tho)

 

just sharing. =)

[barefoot]

hey bro, i just called up ntuc to check for quotation for sp 18yo p plate.

 

cost around $600 for FT plated SP. 1k for TPFT.

 

wa thats actually quite cheap leh. previously there was a guy who paid 1.9k tpft for a brand new spark . . .

[ffe]

so if i get a bike and ask my dad to be the owner (he has license) while i (18yr old) be the subrider, will the insurance be alot cheaper?

[louisyhw]

wa thats actually quite cheap leh. previously there was a guy who paid 1.9k tpft for a brand new spark . . .

well it could be too cos like u said the bike is brand new.

 

also was it from bike shop or insurance agent? this type sure eat some money.

so if i get a bike and ask my dad to be the owner (he has license) while i (18yr old) be the subrider, will the insurance be alot cheaper?

nope, the rates would still follow the youngest rider.

[Xenophobia07]

so if i get a bike and ask my dad to be the owner (he has license) while i (18yr old) be the subrider, will the insurance be alot cheaper?

 

The rates will be based on the rider with less experience.

[ffe]

well it could be too cos like u said the bike is brand new.

 

also was it from bike shop or insurance agent? this type sure eat some money.

 

nope, the rates would still follow the youngest rider.

 

 

so do you mean it will be cheaper if we get insurance directly ourselves rather than let bike shops handle?

[Xenophobia07]

so do you mean it will be cheaper if we get insurance directly ourselves rather than let bike shops handle?

 

There is a possibilty.

[louisyhw]

so do you mean it will be cheaper if we get insurance directly ourselves rather than let bike shops handle?

yup!

There is a possibilty.

 

yup!

[blast3dGaL]

I asked NTUC to quote me a price for KR150 for a newly passed 2B license holder. The difference between brand new (not fully paid), brand new (fully paid) and second hand... my goodness almost fainted...

 

If you buy brand new bike by installment, the bank/company which are giving you loan will insist you to get a comprehensive insurance which for KR will cost about $4257.28/annum.. If it's a brand new fully paid, 3rd party is about $1305.05, whereas for a second hand bike, is $837.69...