Loss of Motor Cycle in JB

[pipperman28]

Dec 2010 I went to JB for banking purposes, My Yamaha Sparks (4 months old) was stolen at JB. after few months of investigation, MSia Polis issued the final report and my claim was process by AXA SG.

 

But claim amount was only 50percent of mkt rate, as stated by them as loss of motorcyle clause. I could not check as I had lost my insurance documents when the bike was stolen. In addition, the cheque will be issued to the bike shop instead of my name. I had make the full settlement for the remaining loan.

 

Qns:-

 

is 50% a logical percentage? the bike only 4 months old?

 

Why issued the cheque to bike shop instead of me? I am the owner of the bike and no more instalment.

[Isopropyl]

it about the insurance agreement. i suggest you ask for a copy from your insurance. also, you want might to call up other insurance company and act as you are interested in getting insurance from them so you can seek advice whether this is standard practice.

 

anyway, how did you lost your bike? did you lock it? any additional lock?

[Hydher]

Check your log card. Is the bike yours? has it been transferred?

In rdgs to the 50%, sorry to hear about it. cant advise you here

[pipperman28]

Check your log card. Is the bike yours? has it been transferred?

In rdgs to the 50%, sorry to hear about it. cant advise you here

 

Bike already De-registered. COs the officer informed that the bike must full settlement then can de-regsitered...

So the bike should be under my name already...

[stoner]

Some insurance only pays 50% market price for Loss in Malaysia....

 

I always ask for the coverage % before confirming my bike insurance...