Motor Insurance

[flykite]

  Quote

Originally posted by ryanC@Jan 26 2006, 08:46 PM

Thanks for the enlightenment. I'm not quite sure about the pro-rated (unused) premium refund. the idea is that i want to do the renewal on my insurance when it expires. if i change insurance co. i will not be able to choose commencement date?

 

currently my insurance have not expired yet. so i will be doing it when it's going to expire.. say 2 weeks before expiry.. i supposed that should give the insurance company enough lead time to perform the paperwork. if not, i'll go 1 month before it expires.

that u have to check with individual insurance companies. i see no issue with that, but they may think differently. paperwork as such is done on the spot, so the amount of time in advance may not be a factor to whether is it possible to buy post-dated insurance. more of it depends on the company's policies.

 

still, best to give them a call.

[ryanC]

thanks for the advice!

[simple_plan]

hi all,

 

may i know how they calculate for the refund of unuse insurance??

 

the formula??

 

using 3rd party Mitsui..

 

thanks

[feng10516]

Found this page..

 

http://www.onemotoring.com.sg/publish/onem..._insurance.html

 

are all these companies listed here really taking motorcycle insurance?? only heard about ntuc, mitsui, AIG, blah blah blah.. never knew there is this much..

 

and one question.. if i am selling off my bike.. and getting another few months later.. will i be able to retain my NCD? If i can with the same insurance company, will i be able to do so if i change to another insurance company? Help appreciated. Thanks.

[d0n]

  Quote

Originally posted by simple_plan@Jan 27 2006, 12:19 AM

hi all,

 

may i know how they calculate for the refund of unuse insurance??

 

the formula??

 

using 3rd party Mitsui..

 

thanks

depend on how many mths of coverage are u left with & whether u are going to takeup another new policy w/ the same company within a limited period of time (e.g 2 - 3mths)

for exact details, check w/ individual insurance company or refer to any documents they gave u when u signed up for the policy w/ them

[d0n]

  Quote

Originally posted by feng10516@Jan 27 2006, 07:45 PM

Found this page..

 

http://www.onemotoring.com.sg/publish/onem..._insurance.html

 

are all these companies listed here really taking motorcycle insurance?? only heard about ntuc, mitsui, AIG, blah blah blah.. never knew there is this much..

 

and one question.. if i am selling off my bike.. and getting another few months later.. will i be able to retain my NCD? If i can with the same insurance company, will i be able to do so if i change to another insurance company? Help appreciated. Thanks.

its better to go for the more recognised ones for 2 reasons:

1. easier to find place to do renewal in the future

2. better experience when there's a need to do claims/refunds

 

however, the most popular company may not always be the one offering cheapest premium (e.g NTUC charge very high premium for young/new riders now)

so pls do scout ard and go for the most affordable one

 

by right whenu switch insurer, u can bring over any NCDs u had w/ the previous insurer

[feng10516]

so what do i have to keep in order to do that?? need any documentation to prove that i had the NCDs?? the only prove that i have is the insurance policy that states the amount of NCD that i have. Is that alone enough?

[d0n]

  Quote

Originally posted by feng10516@Jan 28 2006, 04:42 PM

so what do i have to keep in order to do that?? need any documentation to prove that i had the NCDs?? the only prove that i have is the insurance policy that states the amount of NCD that i have. Is that alone enough?

i personally havent done the transferring of NCD frm oneinsurance company to another before

but i guess besides checking w/ yr previous insurer whether u have any NCD, the next best thing u can do will be to produce a photocopied version of the policy certificate that u have currently to show to the next company u are gonna buy insurance frm

[feng10516]

okay.. thanks alot.. think i have to safekeep my current insurance policy.. just in case..

[wayne_shadow]

sexybabe, everybody is able to renew their insurance at the insurance company counter or at agencies, they do not charge admin fees or any untrue infomation.

 

the finance company do not limit riders from getting insurance cover from other company as long as the cover like third party or 1st party is taken up as per the loan contract.

[299]

Now tat adding 55 yr old as main rider and 18 yr old as sub riders are not

 

allowed...is my current one still exist when my dad insurance expires?

[NaRuTo13]

  Quote

Originally posted by ProjectD@Feb 5 2006, 07:25 PM

Now tat adding 55 yr old as main rider and 18 yr old as sub riders are not

 

allowed...is my current one still exist when my dad insurance expires?

mine under ntuc juz renew under old policy(main rider price).. but if now bike wnana add sub rider, the price would go by the youngest age ruling.. that wat ntuc gif for a exsiting bike wif 2 rider and another wif older age..

[299]

  Quote

Originally posted by NaRuTo13@Feb 5 2006, 07:34 PM

mine under ntuc juz renew under old policy(main rider price).. but if now bike wnana add sub rider, the price would go by the youngest age ruling.. that wat ntuc gif for a exsiting bike wif 2 rider and another wif older age..

oh tat means 2 as main plus additional 1 subrider, am i rite?

[NaRuTo13]

  Quote

Originally posted by ProjectD@Feb 5 2006, 07:49 PM

oh tat means 2 as main plus additional 1 subrider, am i rite?

pai seh guess i confuse u my language nt gd.. that my experiecne from ntuc

 

 

1st bike with 2 rider name (main cum sub), price is the cheaper one which is main rider price due to registraition before the new rule youngest age came into effect

 

2nd bike which was trying see to be able to add younger rider(add sub rider) without extra $$ to the insurance but couldnt be done. due to the new policy NOW is already in effect.. so if i add a sub rider on 2nd bike the price will increase alot.

 

because registration at current price of time be it purchase of bike or adding sub rider will change the insurance price that for ntuc i experience ba..

 

easier to understand?

[NaRuTo13]

pai seh so for ur question to the 55 yrs old thingy, for renewing it will still be base wif the orginal price of insurance wif ncd ba.. it wil not convert to youngest age ruling for renewing thats for my last renew.

[ryanC]

hi all,

 

i got a new situation here and need advice as well. currently, i'm riding a 400cc bike as the first owner and the bike is still under hire purchase with the bike shop. i would like to renew my insurance to the so called " 2nd party" aka 3rd party with fire and theft coverage as comprehensive coverage is way too expensive. when speaking to the bike shop, the person in charge refuse to allow me to switch over to 2nd party when i'm going to renew.

 

can they sue me or take any actions against me if i do the insurance renewal myself? or should i consider trying to negotiate again with them?

[Cybourg]

Hey RyanC...same problem here. I am just riding a wave and prefer 3rd party compare to 2 party fire and theft. Some how the bike shop said hire purchase bike must be under at less 2nd party insurance. I think its bull sh*t.

[Cybourg]

Hey RyanC...same problem here. I am just riding a wave and prefer 3rd party compare to 2 party fire and theft. Some how the bike shop said hire purchase bike must be under at less 2nd party insurance. I think its bull sh*t.

[bigman_185]

  Quote

Originally posted by Cybourg@Feb 14 2006, 12:16 AM

Hey RyanC...same problem here. I am just riding a wave and prefer 3rd party compare to 2 party fire and theft. Some how the bike shop said hire purchase bike must be under at less 2nd party insurance. I think its bull sh*t.

Think that's set by the company that provide the loan. if the bike is loss to theft or fire then can still claim from insurance company. If you don't like TPFT then maybe you can full settle your loan.

[bigman_185]

  Quote

Originally posted by ryanC@Feb 13 2006, 05:59 PM

hi all,

 

i got a new situation here and need advice as well. currently, i'm riding a 400cc bike as the first owner and the bike is still under hire purchase with the bike shop. i would like to renew my insurance to the so called " 2nd party" aka 3rd party with fire and theft coverage as comprehensive coverage is way too expensive. when speaking to the bike shop, the person in charge refuse to allow me to switch over to 2nd party when i'm going to renew.

 

can they sue me or take any actions against me if i do the insurance renewal myself? or should i consider trying to negotiate again with them?

Did your sales agreement state that you must die die renew your insurance through them?

[ryanC]

  Quote

Originally posted by bigman_185@Feb 14 2006, 08:24 AM

Did your sales agreement state that you must die die renew your insurance through them?

i do not have a copy of all the documents i signed.. initially i assume that they'll give it to me when i collect the bike.. but they never give.. so now i will chase them for a set of the documents i've signed.

 

the salesman that sold me the bike had left the company. initially, what he told me was, since this is my first bike in sg, might as well take 1st party and so i took. i was away for about 2 years when i just got my 2B licence and returned to get my 2A and bought a 2A bike shortly. then i asked him about downgrading the insurance. he told me i will be able to do so upon my next renewal.

 

whatever was briefed to me was that i'm liable to pay extra charges on top of the interest if i were to do full settlement. nothing of the sort that the road tax and insurance is to be renewed by them.

 

however, when i renewed my roadtax the previous time, the salesman asked me about my roadtax when i went to pay my instalment. i told him i renew it myself and he never said anything.

 

now i will find out whether is there such a clause. since i called them recently only, i will wait till like next month then request the salesman to get a copy of the sales agreement for me.

 

another weird thing is that when asking for a quotation for the insurance, the person took my 2A pass date instead of 2B. can anyone verify about this whether is this the correct practice?

[ryanC]

anyway, according to the bike shop, comprehensive coverage from ntuc cost me $1610. however when i go for online quotation, it's only $1243 before NCD. so i'm feeling that they're out to cheat money again. or maybe they just took my 2A pass date to do the insurance but it doesn't make sense. can anyone enlighten me about this?

 

when will consumers be treated fairly in sg? sigh....

[NaRuTo13]

  Quote

Originally posted by ryanC@Feb 14 2006, 09:16 AM

anyway, according to the bike shop, comprehensive coverage from ntuc cost me $1610. however when i go for online quotation, it's only $1243 before NCD. so i'm feeling that they're out to cheat money again. or maybe they just took my 2A pass date to do the insurance but it doesn't make sense. can anyone enlighten me about this?

 

when will consumers be treated fairly in sg? sigh....

er u can call ntuc to clairfy on price =).. cos of the commission by shop through the dealers of the insurance.. meaning another party which is dealer of the insurance commision.. that dealer dun refer to ntuc.. hope that helps..

[ryanC]

anyway my apologies for the wrong info provided, just confirmed with NTUC that when getting insurance for 2A bikes, they will use the 2A pass date. price before NCD deduction is $1671 after NCD will be $1504. if the shop's quote is before NCd, it'll be cheaper. if it's after NCD, they're slaughtering me with admin charges of $106. ridiculous.

[NaRuTo13]

  Quote

Originally posted by ryanC@Feb 14 2006, 02:13 PM

anyway my apologies for the wrong info provided, just confirmed with NTUC that when getting insurance for 2A bikes, they will use the 2A pass date. price before NCD deduction is $1671 after NCD will be $1504. if the shop's quote is before NCd, it'll be cheaper. if it's after NCD, they're slaughtering me with admin charges of $106. ridiculous.

weird.. they told u 2a pass date arhz.. i juz call ard 2 weeks back. after few days i pass 2a.. i was asking to add as sub rider.. but the date she say used is 2b. anyway nt adding so i cant 100percent gif the exact ans for this..

 

anyway no slaughter how come the dealer get a cut in doing those job lol..