Insurance unused portion

[xstorm]

If i sell my bike to the shop, what will happen to the unused portion of the insurance ?

[BlackDawn]

You can call insurance company, cancel & get a refund

[Tyrian]

for NTUC, u can get back 85% of the unused portioned, pro-rated, of ur insurance premium

 

however, if u decide to sign up with NTUC again within a stipulated time, u will be able to use the 100% of the unused portion rebate..

 

eg.. yearly premium $1200 unused premium $600 if u decide to get back in cold hard cash, u will only get 85% * $600 = $510

 

if u decide to get another bike n be insured by NTUC, yearly premium $1000, u can use the unused $600 for ur new insurance.. u pay $1000 - $600 = $400

[Guest tookara]

axa no refund

[contrarian]

axa no refund

 

That's untrue. I've sold 2 of my bikes and got refunds from AXA.

 

They use a different formula (called the short rate table) for refunds, where, for example, if you have only one month left unexpired then there's no refund.

[gaoxing11]

wad if the insurance is paid by installment..??

[Izammo]

wad if the insurance is paid by installment..??

can still get refund if u paid more than wat u have used. but if u get another premium, if cancel totally i not sure.