Bike insurance

[Bouncetheking]

Hi all,

 

My friend told me that if I upgrade my bike to 2A, i can get some refund for my current insurance. Does this only applicable to NTUC or all insurance companies? I only rode my Varadero 125 for 4mths plus and just got my 2A license. Anyone knows how does this work?

 

Also, i only seen 2A bikes using chains. Are there bikes use other devices than chains? I heard that scooters use belt?

 

Thanks.

[binkaz]

you will get back some insurance money if it is not one year.. as in since you have rode for 4 months and if you sell off your bike now and cancel your insurance, you will get back the remaining 8 months of your insurance premium.. it applies for all insurance but some companies take long to refund than the other..

 

[Echo]

2 types of refunds if i not wrong. one is cash refund, but u can't take back the full amount, insurance company will minus certain percentage as penalty. second is to bring forward to ur new insurance, that will means u will be topping up for ur new insurance lor. depends on which companies though, best to check directly by calling.

 

yah, scooters use belt........ so that will mean need to change belt and rollers at certain millage lor.

[Bouncetheking]

Binkaz,

 

thanks for the explanation.

[contrarian]

The answer to your question is in your insurance policy.

All policies have a cancellation clause that says how you are entitled to a refund. Some companies will pay you a greater proportion of the refund than others.

[Bouncetheking]

currently for all bikes, they are either using chains or belts? Any other alternatives???

 

I guess I will stick with NTUC as I'm currently using NTUC. I may get back less insurance if I switch to other insurance companies.

 

Anyone knows how is the depreciation value for bike calculated? Is there any website or reference I can refer to? I only ride my bike for 4mths+

[Silent Hunter]

For mountain bike, got some bikes use drive shaft.

Motor bikes haven't heard of as yet.

[angeldogleslie]

errr yes, as a matter of fact there are already a number of bikes that are shaft driven.

 

Eg i can think of are:

 

ST1100, ST1300

FJR1300

Dragstar 400

Almost all BMWs less the F650 Dakar

[Bouncetheking]

what is drive shaft?

 

How does it works?

 

Sorry for this late reply...

[Refugee]

try googling for it...

 

for e.g. hotstuffworks.com