Selling the bike - Cancelling the insurance or transferring?

[Rich_R]

I'm looking to sell my bike. This is the first one I've owned in Singapore. So what generally happens with insurance here, do they simply cancel and refund the amount left (I paid in full for the 12 months)? Or can it be put on hold till I find another bike and then pay the difference etc?

[CoStar]

hello there. i just bought my 2nd bike and from what i experienced the insurance company will refund your remaining months of coverage and deliver you a cheque(was using ntuc). so you can bank that in to your own acct. so once you sold your bike, give your insurance party a call and tell them you've sold your bike and want a refund of your remaining coverage. they will know what to do.

Be aware, for ntuc, anything less than $25 dollars is not refundable.

if you intend to buy another bike, you'll have to buy a new insurance and still cancel and refund the old one.

another thing, if you have NCD(no claim discount), this you can transfer to your new insurance and get the respective discount.

hope this helps.

[Rich_R]

Thanks, yes I'm with NTUC.