1 Bike 1 Insurance or 1 Rider 1 Insurance?

[ahmad0420]

Is getting a bike as a 2nd rider illegal if insurance are only by the first rider?

 

I was thinking of buying a 2nd hand Honda NSR150 from a fellow forumer. She suggested buying from her COI but only to pay insurance after I have enough (I'm short of budget you see).

 

So it means I'll be riding as 2nd rider under her insurance. She told me one bike only need 1 insurance.

 

So which is true?

[SparkerS1]

one bike can put one named rider and one sub rider.

since if u are a p-plater tat just passed, ur premium will be higher thus need to top up on the insurance.

then COI cannot transfer ownership unless the loan is cleared completely.

 

the name rider will be her and u will be the sub-rider, meaning the insurance will be under her name and bike under her name but u will be the sub-rider until u finish paying the loan, then transfer of ownership will take place and the bike will be offically yours.

 

then u must take up a bike insurance under your name and u will be the named rider and u can add in a sub-rider.

 

understood?

[ahmad0420]

Hmm I think it's clear to me now. But is it safe/risky & legal to ride?

 

And is it as safe as buying from shop?

[SparkerS1]

its legal, but safe or not, its mutual agreement between u n the owner, cos she is still the rightful owner if u get wat i mean

[ahmad0410]

Ok. But now I have a problem.

 

Can I ride the bike using her insurance, she's 19 n I'm 18, so premium should be the same. That means I'll have no insurance, but using hers instead. Or must she change the insurance to my name?

[shiro]

hi bro , doesnt means age similar meant premium similar, experience counts for a bit, and even if premium same but does not have your name inside, meaning sub rider, u cant ride the bike , for bike need insurance for the rider. U can use her insurance in the sense u r the sub rider of her insurance , and not just pay for her insurance and u take her insurance paper.. hope u understand my point.

[kuroro3]

Ok. But now I have a problem.

 

Can I ride the bike using her insurance, she's 19 n I'm 18, so premium should be the same. That means I'll have no insurance, but using hers instead. Or must she change the insurance to my name?

 

Its simple. Lets say her insurance she pays is 500 for eg. Since you are new and younger, the insurance coy quotes you 600.

 

The rule is that who ever is the most expensive the insurance will take that, regardless of who sub rider who owner. So if u become subrider, the bike insurance would now cost 600(example ah) and you will have to top up 100 to the already paid 500(hers).

 

Dats all. COI is quite risky in certain sense as either party can screw each other if they really wanted to. So consider carefully.