Insurance cancelling.

Discussion in 'General 1000RR Discussion' started by wurzel, Aug 18, 2015.

  1. wurzel

    wurzel Active Member

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    We have just sold the wifes bike and as she is not having another one we were going to cancel the insurance but - because of admin fees it will end up costing more than we will get back. I am thinking of letting the insurance run its course but don't know if this will have any effect on the new owner if he has to claim before then.
     
  2. stevecbr

    stevecbr Member

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    yes let it run its the only way.they are buggers
     
  3. MPJ

    MPJ Active Member

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  4. stevecbr

    stevecbr Member

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    ooooh never knew that.bugger .
     
  5. RepsolSam

    RepsolSam Well-Known Member

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  6. Lozzy

    Lozzy God Like

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    Sounds like you're with the same company as me :D

    kuntz.jpg
     
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  7. MPJ

    MPJ Active Member

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    Isn't that slightly different though, the article said driver had no insurance. The whole "who owns the vehicle whilst V5 is in the post" is an oddity
     
  8. Lozzy

    Lozzy God Like

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    The rider was banned therefore cannot have insurance. You would have to see the new owners insurance to see they are covered before you let them ride it away and even then I wouldn't trust the ins companies not to try & wriggle out of it, it's a bag of worms.
     
  9. Garyb

    Garyb Moderator.
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    Be safe and not sorry.
    Cancel the insurance and take the hit.
    Cost around £11 for me recently, a small price in comparison
     
  10. dansp1

    dansp1 Active Member

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    Tried to transfer my sp1 insurance onto the blade, that will be £850 please sir, really? Blade has datatag, tracker, datatool alarm.....
    £800?
    Cancelled the insurance got refunded £30 was a few months into a £300 policy, insured blade elsewhere for £300
    Kuntz is right
     
  11. -steves-

    -steves- Active Member

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    Absolutely 100% cancel it, immediately, you just never know!
     
  12. scooby

    scooby Elite Member

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    just let it run out.why give them any more money for the pleasure of not actually having any insurance? fuck that.
     
  13. -steves-

    -steves- Active Member

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  14. scooby

    scooby Elite Member

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    yea i've seen that,and remember reading it last yr when it came out,however,i suspect it to be a load of bollox (not the story,just the fact he was made to pay) as there have been no follow up articles (that i've seen at least) about it.

    like i siad,if i had to pay more money to cancel my policy,then fuck that,why should you have to pay more money to cancel a service you have already paid for?
     
  15. sinewave

    sinewave God Like

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    Inform your Ins Co' you've sold the Bike in question and that the Ins is to be suspended till further notice.

    Job done
     
  16. Alblade

    Alblade God Like

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    The buying a bike and trying to use driving other vehicles cover is risky. If you have paid for the vehicle it is your item, the seller no longer has an insurable interest in the vehicle and in legal terms it is yours so d.o.c. cannot be used.

    The admin fees are a result of falling premiums and competition in the market place.
    It's annoying but they are entitled to charge admin fees which can eat into any refunds etc.
     
  17. scooby

    scooby Elite Member

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    but thats not what is going on here.i understand if i'm entitled to some refund there will an admin charge,that happens everywhere now,but the op is saying they have to pay even more money,after they have already paid for insurance,to cancel the policy.how many "normal" people in thier right mind would do that? apart from those that swayed by the scare mongering news articles.
     
  18. DCB

    DCB Active Member

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    i sold my car a few months back and had the same problem when i went to cancel insurance, but got it sorted by suspending the policy, you still pay the monthly premium for the term of the policy but are not insured and if you don't reinstate the policy by the end of the term they refund you the money paid from when you suspended, with no admin charges.
    Give that a try, don't know if it is the same with every policy tho, but worth a try

    Daz
     

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