Buy new bike from shop..can carry NCB insurance?

[YEN96]

AS per topic ..buying new bike , does NCB apply?

if now i got 20% buy new bike means go back to 0% ?

then after 1st year how ? i think u guys understand wad i asking rite !

 

PLS HELP

[yiheng01]

dun think so, it will start from 0 again.

[Guest NPNT]

Can carry.

[panclanrider]

if now i got 20% buy new bike means go back to 0% ?

then after 1st year how ?

 

No. You can transfer the 20% NCB/NCD to your new bike if currently it's not with any other policy...

[d0n]

AS per topic ..buying new bike , does NCB apply?

if now i got 20% buy new bike means go back to 0% ?

then after 1st year how ? i think u guys understand wad i asking rite !

 

PLS HELP

 

yes, it is possible to carry the NCD frm the bike you are selling to the bike you are buying.

before the NCD can be carried over, the policy for the bike u r selling must already be cancelled.

 

u can do it in 2 ways.

 

1. buy new policy 1st before cancelling old policy and but u need to pay the full premium w/o any NCD upfront. after u have cancelled your old policy, go to the new insurer and request for NCD transfer + rebate on the full premium u paid earlier.

 

2. cancel yr old policy before buying new policy. some insurers require u to produce evidence that u had enjoyed NCD of x% for yr old policy. the evidence can come in the form of renewal notice or reminder letter from yr insurer.

 

i followed method 1 and it took me abt 6mths (of pestering) before the NCD got transferred successfully (frm AXA to Mitsui) and relevant rebates given to me. so my advice will be to go for method 2.

[swoosh]

AS per topic ..buying new bike , does NCB apply?

if now i got 20% buy new bike means go back to 0% ?

then after 1st year how ? i think u guys understand wad i asking rite !

 

PLS HELP

 

 

yes you can even if it is only 5% ! most bike shops is silent about this becos they scared you will claim NCD in cash from them.

[BlackDawn]

1. buy new policy 1st before cancelling old policy and but u need to pay the full premium w/o any NCD upfront. after u have cancelled your old policy, go to the new insurer and request for NCD transfer + rebate on the full premium u paid earlier.

 

i followed method 1 and it took me abt 6mths (of pestering) before the NCD got transferred successfully (frm AXA to Mitsui) and relevant rebates given to me. so my advice will be to go for method 2.

 

I followed method 1 as well, but transfer from Mitsui to AXA. Took almost 3 months to get my rebate.

[YEN96]

yes, it is possible to carry the NCD frm the bike you are selling to the bike you are buying.

before the NCD can be carried over, the policy for the bike u r selling must already be cancelled.

 

u can do it in 2 ways.

 

1. buy new policy 1st before cancelling old policy and but u need to pay the full premium w/o any NCD upfront. after u have cancelled your old policy, go to the new insurer and request for NCD transfer + rebate on the full premium u paid earlier.

 

2. cancel yr old policy before buying new policy. some insurers require u to produce evidence that u had enjoyed NCD of x% for yr old policy. the evidence can come in the form of renewal notice or reminder letter from yr insurer.

 

i followed method 1 and it took me abt 6mths (of pestering) before the NCD got transferred successfully (frm AXA to Mitsui) and relevant rebates given to me. so my advice will be to go for method 2.

 

New bike from motorshop HOW ???

[YEN96]

yes you can even if it is only 5% ! most bike shops is silent about this becos they scared you will claim NCD in cash from them.

 

So the intitial OTR price with insurance, they will minus away for you the NCD?

 

Example ...OTR intial is $10K

 

NCB $200 so the bike shop will minus foir you ...and pay 9.8K ?

 

How it works ?

[Bluetooth]

New bike from motorshop HOW ???

 

Buying the bike form a motoshop and getting the insurance matter settled the way you want are 2 separate issues.

 

The insurance part you can go directly to the agent dealing with the insurance to get it transferred/or get a new policy first to the new bike before registering with LTA.

 

If the motoshop say they MUST do the insurance part also then tell them to '****-off' then you can go to another shop.

 

This applies if you pay in full for the bike but if you are on hire purchase with the shop selling it then they will have some conditions tied to your bike purchase.

[YEN96]

If the motoshop say they MUST do the insurance part also then tell them to '****-off' then you can go to another shop.

 

This applies if you pay in full for the bike but if you are on hire purchase with the shop selling it then they will have some conditions tied to your bike purchase.

 

Means if i buy new bike , i can tell them i settle the insurance myself?

[d0n]

New bike from motorshop HOW ???

 

how different is the situation different if the bike u r buying is a 1st hand bike frm a bikeshop?

 

u can still either:

A) sell off yr current bike then cancel the insurance BEFORE u go get the new bike frm motordiam. in this case refer to method 2 in my earlier post.

B) go ahead and get insurance done up for new bike by motordiam AND THEN cancel your insurance for the old bike after it has been sold off. in this case, u will go thru method 1 as i have mentioned earlier.

 

if shops dont let u claim yr NCD thru A) then u can always go thru B).

 

perhaps it would be good to make a concluding statement as follows:

no matter u buying new or 2nd hand bike frm pte seller or motordiam, it is possible to transfer NCD frm yr previous bike to the bike u r going to buy. end of it all, the only difference is that how long it takes for the NCD to get transfered over and when the premium rebate gets to you.

 

the above statement is applicable provided that u r selling 1 bike and buying another 1 bike. i.e. it does not work if u intend to keep yr existing bike + get another bike.

[swoosh]

If the motoshop say they MUST do the insurance part also then tell them to '****-off' then you can go to another shop.

 

This applies if you pay in full for the bike but if you are on hire purchase with the shop selling it then they will have some conditions tied to your bike purchase.

 

 

 

from my experience, it depends on what bike u r getting. If it Cl 2A and below chances are you will never get a cheaper qoute than the bike shop.

[swoosh]

So the intitial OTR price with insurance, they will minus away for you the NCD?

 

Example ...OTR intial is $10K

 

NCB $200 so the bike shop will minus foir you ...and pay 9.8K ?

 

How it works ?

 

If you put in this way, that is equalivent to using ur NCD to bargain down the price of the bike

[ridleysretro]

Buying K7? ahah

[madman]

wat if it' a class 2b bike to class 2 bike? can still transfer over? or must be same class one?

[panclanrider]

wat if it' a class 2b bike to class 2 bike? can still transfer over? or must be same class one?

 

Can transfer... NCB/NCD will follows you and not the bike...

[YEN96]

Can transfer... NCB/NCD will follows you and not the bike...

 

new bike also ??????????????

[madman]

really meh? like that insurance firm lugi leh...buy...use a Maxed out NCD from 2b bike on a NEW Class2 bike...save alot man!

[YEN96]

If you put in this way, that is equalivent to using ur NCD to bargain down the price of the bike

 

so doe it work this way wahhahahahah

[paiseh]

wat if it' a class 2b bike to class 2 bike? can still transfer over? or must be same class one?

 

yes, it works this way. tats y its a good thing to max out the NCD from cheap insurance.

 

same like cars ma, first 5 yrs drive cheapo cars first.

[panclanrider]

My 20% NCB/NCD has been following me for 15 years for the last 5 bikes I've been riding...

 

What do you think....

[YEN96]

My 20% NCB/NCD has been following me for 15 years for the last 5 bikes I've been riding...

 

What do you think....

 

u buy new bike from shop? So how much u bargain ..hehe

Juz a guide mah

[panclanrider]

u buy new bike from shop? So how much u bargain ..hehe

Juz a guide mah

 

IMO, don't bargain the price of the bike using your NCB/NCD as an advantage with the shop cos you won't get much out of it by doing so...

 

Try bargaining the price of the new bike for OTR price...

 

After agree with the shop about the price then you tell them you've got 20% NCB... In that case, they can't take advantage of your NCB...

[swoosh]

IMO, don't bargain the price of the bike using your NCB/NCD as an advantage with the shop cos you won't get much out of it by doing so...

 

Try bargaining the price of the new bike for OTR price...

 

After agree with the shop about the price then you tell them you've got 20% NCB... In that case, they can't take advantage of your NCB...

 

hahaha I have already sent a PM to yen96 2days ago, telling him the same thing but obviously he was not convinced.