Insurance Charges...WTF

Discussion in 'Lounge' started by t0m541, Apr 2, 2016.

  1. t0m541

    t0m541 Senior Member

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    As I'm selling my old Suzuki, I decided to ring up my broker to get them to freeze the policy as I don't have another bike yet to transfer it to.
    They said they don't freeze policy so it would be cancelled.
    Ok I thought, might get a refund here....

    OH NO.......considering the policy was £90 when I took it out, they want £57 cancellation fee,
    Which drops to £50 with the refund of existing policy left :mad:

    So, I would get £7 back on a £90 policy that has 6 months left on it and have to pay for the pleasure...

    F**kers

    Told them to leave the policy running and I'd find something to insure, but it seems as soon as the bike gets insured by the new owner, they come chasing me for cancellation fee anyway..
     
  2. T.C

    T.C Elite Member

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    And if you leave it running and the new owner has a crash, you leave yourself open to a claim being made on your policy even though you were not riding.

    But I agree with you about insurers being thieving b@stards
     
    • Agree Agree x 1
  3. t0m541

    t0m541 Senior Member

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    I have a trials bike thats not road reg and never leaves the lounge, I might insure that...or try to, with the remains of policy
     
  4. Freedom of choice

    Freedom of choice Elite Member

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    That's bit rough to say the least. Who are you insured with, if you don't mind me asking?


    My insurance had my pants down last October when I sold the Ducati 1199. I asked to them to transfer the policy over to the new CRF250X and I would like to add another motorcycle to the policy in due course. I also asked how much I would get back in the meantime, they told me that I wouldn’t get anything back and would have to pay an additional £22 as the CRF was new and the Ducati was a 2013. When I told them the value of the CRF even brand new was half that of the 1199 and the additional motorcycle wouldn’t be added until this spring they told me it made no difference and either pay up or piss off. I chose to do the later on principal just to make them send me cheque even though I lost money.


    The exact opposite happened in January when my mother died. I sold her car and informed her insurance company that I wished to cancel the policy, I wasn’t expecting any refund but without any prompting or quibble they told me how much I would get back and asked how I wished the money to be paid. Less than a week later the money was in the bank.


    What is it about motorcycle insurance that makes us be treated so badly.
     
  5. t0m541

    t0m541 Senior Member

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    The company was Devitts, I asked about transferring the insurance onto my trials bike, and for that pleasure, they wanted to charge £35 admin fee...
    According to them it was underwriters fees...what a load of bollocks..
     

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