Renewing Insurance Branch/Shop

[Z i E z]

Hi All,

 

Would like to ask you guys,

As my bike is still under hire purchase.

Is it ok for me to renew my insurance at the branch rather than with the shop?

[Z i E z]

Anyone????

[Z i E z]

The last time I renew,

Shop charge me extra fee just because I didn't renew it with them

Although the first time I took out my bike, they ask me to get the insurance myself.

Have any of you guys ever encounter this?

[RPM123]

from what i know.. if under ntuc, you can go directly to their side. but if under axa or msig they will call you to go back to your shop.reason they give: bike under installment so you have to go back to your bike shop. hope this help!

[slowrider_79]

Possible to go directly the branch of insurer to DIY. But beware. If your initial Hire Purchase Agreement doesn't state that you need to renew insurance with them, you are okie. However as hire purchases are considered as unsecured loans, and the terms and conditions are meted out by the shop, you will have to abide with the rules. Technically speaking, insuring the bike shouldn't be a shop's issue. But you know lah..... Admin charges.... I have insured most of my bikes myself and argued that its my bike not theirs. As long as my bike installments get paid on time, I ride with SUFFICIENT coverage so as in the event of bike catches fire or I langar someone, insurance is paying, then there's no case for worry. I buang - I pay myself.

[Z i E z]

Thanks guys!