Insurance
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Hi, ppl...this is a stupid question to some of u. but I newbie....want to get a SP...but regarding the "Insurance" thinngy, i not sure...blur..
I believed some of u put others name right, like ur father's name? How does it goes about?
Eg.- If my father dun have 2B, only Class 4, can i use his name?(insurance).... While I am the OWNER cum Rider.... coz ar, one of my friends, he put his father's name...his father also no 2B, only Class 5...So 1 year he only pay $126+, around there..
Kind souls here, pls enlighten me.....Thanks. -
your friend is bullshitting...
if his dad doesnt have 2B..how can he ride a bike? how can he register the insurance for a bike if he cant ride it?
insurance companies are not that stupid leh... -
Actually you can get your father to be the main rider of your SP even if your father doesn't have Class 2B. BUT provided you pay your bike in full cash and do not have any outstanding payments with any bike shops. Only in this case, you are able to get your father to be your main rider. My friend got a CBR400 under his name before he got his Class 2A, but he can do so as he paid in full for the CBR400.
As for insurance companies, they look at money more than they look at the licence. Even if (choy choy) your dad gets caught riding the SP without any licence, the insurance company also won't get into any form of trouble as any traffic offence you commit doesn't affect them.
Hope this can clear your doubts abit.
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And another thing.... If your father is the main rider, he has to be the owner. When your transfer the ownership of the bike, the owner of the registered vehicle must be the MAIN RIDER of the vehicle too. This is because LTA needs to see that the vehicle is insured before they can allow the transfer of ownership. And in this case, the owner can ONLY be the MAIN RIDER of the insurance policy.
Thus, if you're buying a bike from any bike shops, the main rider must have the licence to ride/drive the vehicle. Cause' if anything happens, the bike shop will get into some shiit.
I know I am very long winded, but if things work out, try to take NTUC insurance as it doesn't have any loading fees in cases where the sub-rider is younger than the main rider, as I know Mitsui, AIG(not sure) and Liberty have loading fees...
Cheers!