Cancelling Insurance

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Soldato
Joined
29 Dec 2009
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Couple of questions..

When getting insurance for a vehicle there is usually a question along the lines of
"Have you ever had insurance voided or cancelled in the past 5 years"

If i cancel the policy myself, due to selling the bike, will it effect my premiums for any future vehicles?

What's the deal with getting money back from cancelling insurance - paid it all in full and it has 7 months left, is it likely I'll see anything back? Or does it vary depending on company?

Just had a quick check online for my insurers (H & R Insurance) and there's a £30 cancellation charge, so if it turns out I can't get any money back, then would it be alright/legal to just "forget" about it?
 
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Ah that's alright then, and just checked t&c's supplied to me with the policy documents, no mention of a refund if I cancel..

What I meant is, if I don't get a refund, then can I just leave the bike insured even though I don't own it? Rather than paying £30 to cancel the policy.
 
do you have your new bike? you can transfer it over to your new bike

i dont think you can have two policies on one machine,you and the new owner so youd need to either transfer it or cancel it
 
You will get a refund, it's done on a pro rata basis.

No you can't insure a bike you don't own.

Yes you could cancel it and not have any consequences.

As said, just transfer the policy onto the new bike... Saves losing the no claims.
 
I had this situation with a GPZ500 a couple of years back. Because the policy was pretty cheap (being old and all..) it would have actually cost me money to cancel the remaining three months of insurance i.e. the cancellation fee was quite a bit more than any refund for remaining cover. I told them to stuff it and just left the insurance to run out before I sold it. The woman got very arsey as she canceled it on the phone before telling me how much it was going to cost me, so had to reinstate it again and then threatened to recover admin costs etc.
 
Rang them up, cancelled and got the refund same day. Good result! Won't be buying another bike until June/July ish and the amount I've got back is probably more than how much insurance will cost on the next bike (DRZ400SM).
 
gillywibble said:
It is usually only pro rata after the first 12 months. Before that they charge a percentage, plus quite often a cancellation fee.

It would have cost me £30 to cancel a policy rather than let it run.
Click to expand...

I'm speaking from experience. I also have a policy with H+R Insurance and I just inquired about this a few weeks ago.

They of course do charge a cancellation fee. I thought this was a given.
 
We confirm receipt of your email.

We would advise that to allow us to cancel your cover we will require that you complete and sign, and return the cancellation request which we have sent to you under separate cover.

You will be charged a pro rata time on risk charge by your insurers, subject to a minimum premium of £10.60, and we also charge a £30.00 cancellation fee. Upon receipt of the above documentation we will proceed towards cancellation but will be unable to do so until we have the cancellation request in our office.

We trust that this is in order and await your early reply.

Kind regards,

Marie-Anne Proctor
Customer Renewals Advisor

H&R Insurance
H&R House
Woodburn Road
Blackburn
Aberdeen
AB21 0PS
 
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