Procedures on bike owner transfer + insurance (which comes first)?

[kok]

hi i have a bike that i will be trading with a fellow forumer . How do i go about doing this ? Do i buy insurance for his bike and he buys for mine first , when that is done go down to lta to transfer ownership then ride off?Is transfer instant?

 

Can i buy insurance if the log card has his name on it?

Or do i just need to provide the details stated on the log card to the insurance company and they will settle? very confused atm... cheers

If i cancel current insurance then how to ride down? argh so confused!!!

 

Road tax is done after insurance right?

 

Basicly i would appreciate if someone enlightens me on the steps and procedures for a smooth and fast transaction thanks alot

[SparkerS1]

go to insurance company, bring ur IC and give them the vehicle number of the bike u buying/getting, they will settle.

 

Go down to LTA and do the transfer, they will print a copy of the transfer to u.

Then both of u can ride off wif ur "new" rides.

 

Sweet and simple.

[Boon6600]

Termination of insurance is for end the day or you can request later.

[ilovestage]

Sorry to interupt, but can i ask a question?

 

Can i transfer a bike ownership to someone else without canceling my current insurance?

[ValkaholiC]

Sorry to interupt, but can i ask a question?

 

Can i transfer a bike ownership to someone else without canceling my current insurance?

 

Yes u can. But for that new owner, he needs to buy his own insurance for ur bike 1st b4 transfer of ownership can be done.

 

As for ur own leftover insurance, u can terminate it later & will be refunded prorated, minus 20% approx; eg if say ur one-yr insurance is left 6-mth the time u sell the bike, they will refund that 6-mth, minus 20% ... at least that is how it is at NTUC