Insurance

[Hazel90210]

I just bought my bike for over a year as well as having my license in the early 2021, however my bike is under installment plans, 

can i get an insurance coverage for third party only?

[pinksheep]

May we know what type of insurance your machine currently has? 

If it's already on the road it has to be insured, so yearly just renew it.

The bike shop would do the insurance coverage for you when it was purchased, and ask if want third or first party, commercial rider or not. 

[Hazel90210]

It has sompo third party fire and theft but i wanted to change to third party only 

[pinksheep]

I see, in that case please contact your insurance company to switch. Third party only indeed is the minimal legal requirement. You can also shop around other insurance companies to see if they give lower quotation to you. Budget direct, FWD are some of the newer ones advertising low rates. In case budget is a concern as to why want to downgrade. 

[adesmond2]

20 hours ago, Hazel90210 said:

I just bought my bike for over a year as well as having my license in the early 2021, however my bike is under installment plans, 

can i get an insurance coverage for third party only?

you have to check the clause for your instalment plans.. Some of the instalment plans companies doesn't allow you to purchase 3rd party only.. else they cannot claim if your bike goes up in smoke or if you report lost.

Unless you fully own the bike, then you can purchase 3rd party only..