Adding Sub-Rider

[Guest kamale]

First off apologies if this has been discussed in another thread.

 

Ok i got a friend who has been riding this Super 4 since last year and he passed his 2a last year also. So now he wants to add his friend to 2nd rider on the bike his friend passed 2a this year Aug, does he have to top up the insurance? Or just pay for adding name fee?

 

Already asked the shop wether can fully transfer but the stupid shop said, wanna transfer must pay full cash for the bike then can full transfer.

[Aie]

When I added by bro-in-law as a subrider for my R1, NTUC Income charged me $25 to add him...

[Guest kamale]

The amount paid, does it depend on age difference from the owner or riding experience?

And also its under mitsui so will it be much more then NTUC?

[Wildswans]

I think there is a difference. Better check with the insurance company

[Guest kamale]

Yeah mitsui said need to add $390++ to add subrider on that super4 hmmm cant help feel their pulling another scam job.......

[prego08220]

Firstly, hOw old is the main rider & how old is the sub rider..I believe the sub rider is younger than the main rider Right? If that's the case, Topping up the insurance is a MUZ..

[Wildswans]

It is possible that top up is required if the sub-rider is new rider and young also

[loufu]

add sub-rider when u renewing ur ins. FOC. other than tat u nid to pay for the 1-time admin fees...

 

Top-up needed if the sub-rider is younger/lesser riding exp....

[GuiNNeSS]

First off apologies if this has been discussed in another thread.

 

Ok i got a friend who has been riding this Super 4 since last year and he passed his 2a last year also. So now he wants to add his friend to 2nd rider on the bike his friend passed 2a this year Aug, does he have to top up the insurance? Or just pay for adding name fee?

 

Already asked the shop wether can fully transfer but the stupid shop said, wanna transfer must pay full cash for the bike then can full transfer.

 

There is 2 parts to your question.

 

1) If the 2nd rider is younger then the owner as well as having a new licence. There is a possibility for a top of insurance to better reflect the 2nd rider's age and riding exeperience, excluding that admin fee for the addition if its not a renewal of the insurance.

 

2) the shop is not stupid. its in your loan contract. it sounds extrememly silly since you never borthered to read it. Since the shop is not keen to take on your friend onto their loan scheme.

 

When you hear this sort of transfer, you are missing out the real paperwork part actually. What happens is....if the shop agrees. What they do is actually, they took on your 2nd rider as a new customer, present to him a new loan, in his name for the bike.

 

lets say you have $3.5k left on the bike......they will present it to the 2nd rider as S$5k including admin transfer fees.

 

Technically, your fren paid up for your bike and transfered to himself by taking on a loan.

 

Errmmm......if I am wrong, please correct me.