Home / Malaysia Insurance Law / Insurance Law Motorbike Stolen do i still have to pay my Bank Loan

Motorbike Stolen do i still have to pay my Bank Loan (modified 0 times) Ah Seng Hi All, My motorbike stolen on feb 2006 and its just about less then 3 month after i bought the bike with insurance. I have informed the insurance company , my AEON Credit bank and made a police report. My bank is forceing me to pay my loan even the motorbike is stolen. Is this correct ? I even have to pay late payment charges you know ? Why should i pay ? I have motorbike insurance what ? If so can i rent a motorbike in the event my motorbike is lost and charge the rent cost to the Insurance company ? Since i lost the bike i need to go work what ? I need transporation. Can i rent a bike and charge the cost to insurance company then ? I have motorbike comprehensive policy insurance !!! Help me to understand this issue on the law point of view ? thanks in advance !!!!! 09 Jul, 2006 20:30:18

RE:Motorbike Stolen do i still have to pay my Bank Loan (modified 0 times) Ah Seng888 Please don't tried to copy cat me for names okay? better sell beckside and buy new motorbike. 10 Jul, 2006 17:23:46

RE:Motorbike Stolen do i still have to pay my Bank Loan (modified 0 times) Stranger Perhaps you should think it in a common sense way and forget about the law which is beyond your understanding. It looks like there are two separate matters. One is your loan for buying the bike. The second is your comprehensive motor insurance. The bank giving you the loan has the right to sell your bike and use the money to repay your loan when you fail to pay your instalments. They can go for you if the sale amount does not cover your loan to them. The insurance company deals with your claim after your bike is stolen. They will investigate your claim and if approved, you would be paid the money. On your question that you would need to incur money to rent a bike before you get your payment from them, you can direct your claim to them. 12 Jul, 2006 06:36:32

RE:Motorbike Stolen do i still have to pay my Bank Loan (modified 0 times) Jontana If a person X bought your house for RM 1 million and resold it to Y for RM 1.5 million. Somehow Y did not pay the money to X. This resulted that X defaulted payment to you. Do you think X would not have liability for failing to pay you due to his purchaser defaulted in his payment? 12 Jul, 2006 22:52:28

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