[Discussion] ~ Insurance Related Issue

[cynic]

if i'm not wrong:

 

3rd party fire n theft => any accident, 3rd party can claim ur insurance, u can claim any fire or theft that happened to ur bike. but u as first party cannot claim.

 

Full comprehensive => includes first party can claim during accident. that is, it includes everything.

Ah ok... So just to make sure I understand this, full comprehensive means even if I just skid through nobody's fault but my own, I can still claim from my own insurance also? Whereas TPFT cannot?

[Darkness19]

i am using NTUC Third Party, Fire & Theft (TPFT)

[encore]

Ah ok... So just to make sure I understand this, full comprehensive means even if I just skid through nobody's fault but my own, I can still claim from my own insurance also? Whereas TPFT cannot?

 

Yup.

 

First Party - You don't like your tank and decide to punch it causing a dent, you can claim for the repair. If you not hppy and you whack your bike till you have to scrap, you can also claim fully subject to market value of the bike. Which means that if they assess that your bike is $7k but your loan is $8k, you bear the difference i.e., the difference in 1k, you have to pay to the shop or bank.

 

The rest of coverage is the same as TPFT and 3rd party cover.

 

TPFT- You hit somebody and they claim against you. You don't need to worry. You insurance company will pay the claims for you. if fire and theft happens, also can claim. subject to bike market value at that point in time as above. If you whack your bike, you pay for the repairs.

 

3rd party only. You hit somebody, also no worries. coz insurance company will pay for the claims made by the other party. If fire or theft or you whack your bike, you pay for the repairs yourself.

 

After any claim is made by you or others against you, the premium will increase. Personally i take tpft coz i park at multi storey carpark. Never know when people start fire at the carpark. That's also why i park at lots where there are only bike lots and not the lots where there are many bikes.

[cynic]

Thanks for the explanation!

[Fazli]

I'm 24 currently and my SpecIII is covered under comprehensive given to me by my bike shop. $800+ nia...

[dragonforce]

$800+ for comprehensive? which insurance company?

[AEROR1DER]

Mine is $300+ after 20%ncd from NTUC TPFT...

[pohheng]

hey guys, would like to check wif u guys, is it possible for me to extend my insur afew days to tele my road tax? cos my insurance currently till 1 DEC 2009 but my next road tax is 12 DEC 2009. btw, i heard insurance price up again?

[knoobie]

may i ask if it is possible we find other insurance company when our bike is still under installment with bike shop? i heard from some body can some say cannot. or does it varies between diff insurance company ?

[MUSHA]

hey guys, would like to check wif u guys, is it possible for me to extend my insur afew days to tele my road tax? cos my insurance currently till 1 DEC 2009 but my next road tax is 12 DEC 2009. btw, i heard insurance price up again?

 

Yes, but not worth the $$$.

[edwardthy]

my age 29.

Super 4 Vtec 2 registered in 2003. FW plate.

3rd party and theft.

quoted by bike shop 498 is it worth it? or i rather DIY myself?

[pohheng]

erm, wat is the cheapest insurance company for a 21 yrs old wif 2 yrs exprience in riding. no claim & no accident.

[dragonforce]

my age 29.

Super 4 Vtec 2 registered in 2003. FW plate.

3rd party and theft.

quoted by bike shop 498 is it worth it? or i rather DIY myself?

 

not difficult to get quotations from insurance company.. only disadv is take some time to get paper work done.. y not call the insurance companies to get a quotation?

 

erm, wat is the cheapest insurance company for a 21 yrs old wif 2 yrs exprience in riding. no claim & no accident.

 

i think you try axa (anda) insurance.

[idun69]

may i ask if it is possible we find other insurance company when our bike is still under installment with bike shop? i heard from some body can some say cannot. or does it varies between diff insurance company ?

 

i tink only ntuc allows this.. cos i did renew my insurance without the help of my bikeshop.. n my bike is still under installment..

[oscar23]

Let me quote a suituation here

*if the Owner(A) is currently taking class 2A but wanna get a bike, puts Sub-rider B (who has a class 2A) for the bike that A wanna buy, then if let say owner A get into any trouble will sub rider B get into trouble if at the point of accident/ trouble is Owner (A) rider it?

and is it true that laid up bike (reloan from bike shop) can only be push out of the shop if there is insurance coverage? what if i do reloan via hitachi credit? will the hitachi credit requires u to produce ur class 2A licenece?

 

hope some one could answer to my queries!!

[dragonforce]

Let me quote a suituation here

*if the Owner(A) is currently taking class 2A but wanna get a bike, puts Sub-rider B (who has a class 2A) for the bike that A wanna buy, then if let say owner A get into any trouble will sub rider B get into trouble if at the point of accident/ trouble is Owner (A) rider it?

and is it true that laid up bike (reloan from bike shop) can only be push out of the shop if there is insurance coverage? what if i do reloan via hitachi credit? will the hitachi credit requires u to produce ur class 2A licenece?

 

hope some one could answer to my queries!!

wah your scenario would be easier to read if you break up into parts.

 

1) if owner A haven get c2a license and rode the bike getting into an accident, it will be a messy situation. A can deny he rode it and push the blame to B. B can do likewise. if B can prove he is not involved at the scene of the accident, then A is in super sh*t.

2) i am quite sure the laid up bike which is still on loan with the bikeshop cannot be taken out if there's no insurance coverage.

and anyway, how are you going to take the bike out if its not road worthy? illegally ride on the road. if you are intending to flaunt with the law, reconsider. if you are thinking of towing the bike from the bikeshop, discuss with your bikeshop.

3) i am not sure about taking reloans.

 

correct me if i am wrong, your questions seem to indicate to me that most likely the insurance coverage and/or laid up bike laws are going to be broken. you are thinking about whether to sub ride your c2a bike to your friend.. and take it out for a spin but scared get your friend into trouble. another alternative you are thinking is laying up your bike but tow/ride it to your place and you can still take the laid up bike for a joy ride.

if so, DONT do it.

[rxgn]

just renew my insurance

 

25 years old, almost 3 years experience with no accident.. FY Plate spec 3

 

AIG, $595 2nd Party

[skyblood]

24 this year..15%ncd Fy plate spec.nTuc TpFt $689.95

[FrdAuZ]

just renew my insurance

 

25 years old, almost 3 years experience with no accident.. FY Plate spec 3

 

AIG, $595 2nd Party

 

last yr i 22yrs old,Spec 3 FY plate, 3rd Party Fire & Theft. $665.

[FrdAuZ]

NTUC allows buying of motor insurance even though Bike still under installment? cos i remember signing of contract it states that only rener insurance through bike shop if bike is under installment. Failure to do so = wrongdoing in terms of contract.

[idun69]

NTUC allows buying of motor insurance even though Bike still under installment? cos i remember signing of contract it states that only rener insurance through bike shop if bike is under installment. Failure to do so = wrongdoing in terms of contract.

 

i renew without bikeshop..so far nuthing happen..

[FrdAuZ]

If like that which insurance the cheapest? 23 yrs old. Third PFT

[pohheng]

hi everyone, do anyone know which insurance company is cheapest for 21 yrs old? for spec 3?

[ducktale83]

try AXA..mine $270 but 3rd party..(u burn my bike,i cry)LOL...

[recordingartiste]

Hi folks, I am intending to get a S4 Vtec1 soon. I am 27 this year August. I passed my 2A in Oct 2007. No accident before. Any suggestions for me? I am currently riding a 2B bike too and is under Anda insurance. If let say I were to continue to get Anda for my upcoming S4, will I in any way get any benefits from it?

 

*A SIDE QUESTION: How do I know wether this particular bike is already fully paid or still under COI when I buy a used bike (ie super 4) from another party?