Bike insurance?

[jazz_25]

hi,

 

wish to ask if I am buying a bike from someone whose bike is already fully paid. And I wish to take a loan from a shop.

 

usually what is the procedure like?

and besides transfer and agreement fees, are there any charges I need to pay?

 

and as for the bike insurance, must I get through the shop? or I can buy myself?

 

Pls advice! Thanks alot!

[prego08220]

If u loan from shop, Normally they would want/insist u to get the insurance thru them also.. So they can earn some $$ from there also..

[xiaobanz]

Some shops i go too they will not sell you the bike unless you get the insurance from them. For me, i prefer to ask around a number of shops first b4 putting down your money. Especially for insurance, must ask a few companies, you never know what additional cost they add for you.

[jazz_25]

i see, thanks...

any idea abt Asphoon?

[prego08220]

Try asking ard a few shops first.. See who offer u the cheapest rate..

[kennethy]

i see, thanks...

any idea abt Asphoon?

 

asphoon do represent a few insurance companies like NTUC, AXA, mitsui, etc... they would be able to give you a one-stop shop...

[Jengo]

asphoon do represent a few insurance companies like NTUC, AXA, mitsui, etc... they would be able to give you a one-stop shop...

 

wat i heard from my fren is dat axa has a lower insurance quota den others(based on age too). am i right?

[jazz_25]

usually the bike shop charges insurance is how many % more than if buy ourselves? thanks!

[swoosh]

If the bike shop grant you a loan to buy the bike, it will be their interest to know what kind of insurance you are getting. But this also depends on things like how much is yr loan, guarantor, ur relationship with the bike shop...