A Warning For Us All..

[Debs]

http://www.whitedalton.co.uk/motorbike-blog/2013/10/i-sold-my-bike-but-didnt-cancel-my-insurance/

Don't forget to read ALL the comments at the bottom of the article.

[Charlie747]

http://www.whitedalton.co.uk/motorbike-blog/2013/10/i-sold-my-bike-but-didnt-cancel-my-insurance/

Don't forget to read ALL the comments at the bottom of the article.

[O.C.]

This is absolutely true, I saw this feature some time ago, seems like there's summat waiting to bite your arse around every corner these days   

[Lonewolf]

Under European Law.....well that just about sums it all up as far as I'm concerned. 

[Charlie747]

This is absolutely true, I saw this feature some time ago, seems like there's summat waiting to bite your arse around every corner these days   

Under European Law.....well that just about sums it all up as far as I'm concerned. 

[Kwikasfuki]

The law really is stupid at times.

[Rusty]

Asif .. I totally agree with you but the problem for him comes out of laziness .... His bike on the road, all be it now in the hands of another, still has insurance cover ... HIS insurance.....  so whatever happens to said bike the trail will come back to him and of course the ins company, who are in business to make money after all, will want to recoup their losses .. And they don't give a shit about the chaps personal circumstances ... Even if he pays a few quid a month it will be with him for many years to come ... So lesson learned everyone ... If you sell it make sure you get rid of EVERYTHING that links you to that machine  can't be any more blunt than that !

[Charlie747]

Asif .. I totally agree with you but the problem for him comes out of laziness .... His bike on the road, all be it now in the hands of another, still has insurance cover ... HIS insurance.....  so whatever happens to said bike the trail will come back to him and of course the ins company, who are in business to make money after all, will want to recoup their losses .. And they don't give a shit about the chaps personal circumstances ... Even if he pays a few quid a month it will be with him for many years to come ... So lesson learned everyone ... If you sell it make sure you get rid of EVERYTHING that links you to that machine  can't be any more blunt than that !

Rusty

I saw an article in Bike the other year on this subject and was totally in ignorance of the legal ramifications of not cancelling the policy at time of sale.........................I can assure you I was on the phone to my broker pretty dam sharpe when my 400bhp car was sold...........................in inexperienced hands the thing is a lethal weapon   

[Kwikasfuki]

It's an eye opener. If I ever do get to the point of selling a bike (instead of writing it off), or selling my car (instead of running it into the ground ready for the scrap heap), I shall cancel the the insurance immediately.

Do you have to actually cancel the insurance, or can you put it on suspend, which is effectively the same as not having the vehicle insured?

[Charlie747]

It's an eye opener. If I ever do get to the point of selling a bike (instead of writing it off), or selling my car (instead of running it into the ground ready for the scrap heap), I shall cancel the the insurance immediately.

Do you have to actually cancel the insurance, or can you put it on suspend, which is effectively the same as not having the vehicle insured?

I've put mine on hold ready for the Monaro's replacement which should be with us for March so I guess so Asif.

[shaggs147]

My mate left his insurance running after selling his bike, not out of laziness, but to keep his no claims going and due to the fact to cancel it wasn't worth the rebate. Thanks for the heads up, I'll let him know. Bloody stupid law this is.

[doebag]

A friend of mine died a couple of years ago, and left his large estate car in the garage. I wanted to insure it for my own use just to empty his house and use when I went by motorcycle to his house.
My insurance company would not add his vehicle to my policy because I was not the registered keeper [ his name still on the log book ] so I had to take out temporary insurance by the month with another company.

Seems the companies want it all ways to suit them.

[Charlie747]

A friend of mine died a couple of years ago, and left his large estate car in the garage. I wanted to insure it for my own use just to empty his house and use when I went by motorcycle to his house.
My insurance company would not add his vehicle to my policy because I was not the registered keeper [ his name still on the log book ] so I had to take out temporary insurance by the month with another company.

Seems the companies want it all ways to suit them.

You can smell the ££££££money........................not met a poor insurance man yet 

[Bryn]

Thanks for the reminder 

Sold my VanVan a couple of weeks ago, haven't got around to cancelling yet 

[Bryn]

Well, rang up to cancel my VanVan insurance  ( which I paid in full in November at a princely sum of £67)

Me  " I have sold the bike and need to cancel the insurance
Him " There's a £50 cancellation fee, so to cancel it you owe us £12"
Me  "You're having a laugh, so I've had 3 months insurance with you , and you want more money than I paid for a full year .. I'll just keep it running then"
Him "Let me speak to my manager....

On hold

then   " As a good will gesture we're going to waive the £12 but you won't get any of the premium back"

So...best I can expect I suppose ... no wonder the insurance profession has a reputation for being a bunch of shysters  :roll eyes:

I would have been happy to leave it running out of principal, the bike has gone to a friend , and I know she's already insured it ... but at least I can forget it now