Newbie questions on insurance!

[Kjura]

Deleted old post

Edited June 18, 2020 by Kjura

[stanco]

Hi, I've been hanging around the forums for almost a year now but never really posted anything since I'm still getting my license (TP in January)

 

One of the things I need to decide is what bike I should get, but being on a low budget, there's insurance to plan for too.

 

A few questions on insurance that I hope someone will know and be kind enough to help answer:

 

1.) What choices are there in terms of insurance companies for bikes?

 

2.) When getting a used bike, after the transfer is made, how to go about the insurance? Is it done at the same place (so transfer + sign insurance then ride off)?

 

3.) Hopefully someone can give a rough gauge or estimate how much the insurance would probably cost me,

 

New rider with no other driving license,

22 years old,

 

for:

 

Cruisers (Phantom, Daelim)

Don't know what class it's called (RX-Z, Spark, 125z)

Sportsbikes (SP, KRR)

 

 

 

Thank you!

 

1) i only know of NTUC and AXA. of cos there are others too.

 

2) if you are buying from a bike shop, just pay them the money and they will settle everything for you.

 

but if you are buying from private owner, you need to purchase your own insurance first. you can call up the insurance company, tell them yours and the bike particular (e.g. nirc and bike plate number etc), then they will get it done. you can collect it on the same day.

 

after getting the insurance cert, proceed to lta and take a queue number for the transfer. you will need to show the lta people your insurance cert, so do bring it with you.

 

3) insurance price varies from company to company, type of bike etc, coverage of your insurance (third party, third party with fire and theft or first party) also, as a p plater, there will be an additional of $150 loading fee.

 

but just as an estimation, maybe a sport bikes like sp might set you back another $1k? phantom and kups maybe around $700-800? purely my estimation... so dont take my words too seriously.

[DM]

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