Insurance
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Can someone pls explain what's insurance excess and if I buy a 1st hand bike, after how long would I've to pay the insurance premium again and how much would it be for a sport bike usually.
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i think that i am the one that got u interested in the topic so i might as well explain the details to the best of my knowledge.
the insurance excess stated on the policy is the amount that u must come up with when u want to claim ur insurance. provided if it covers self accident.
eg, the amount is 1k 4 my nsr150sp. i will need to pay 1k for the repairs on my bike if i claim my policy. so if ur repairs do not exceed the amount there is no point in claiming. so it will help if the excess is low.
if u r claiming from another policy then never mind. no need to pay, just wait.
the excess amount is based on the accident rate of the bike. eg sp, aprilia, high accident rate = high excess.
regarding the renewal i have not idea what so ever, just 8 months i ride.
i hope that the info is correct. if not anyone come and correct me. -
Thanks for your info. Maybe you can tell me after the 1 yr period for re-newing the insurance premium how much would it be.
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4 1st party insurance its about 400 to 600 may be more than that.Depending on company,bike,age,how long ur licence,hav u ever claim insurance,and if u hav 24 points undeduct u can oso get a discount.If u did not claim ur insurance over the past one year, u will oso be able 2 renew at a cheap rate.