Insurance cancellation query

[Diddums]

I have one of my former bikes insured through Carole Nash.

I sold the bike on Tuesday, so no longer need the insurance.

Rang them up, apparently to cancel the insurance I have to pay another £35. They did however very kindly include the cancellation fee for this.

Once I'd managed to stop laughing I told them I'd just let it run.

This does beg the question however, if the bike is involved in a prang or whatever, am I liable?

The V5 has been transferred, so not sure what to do now.

Let it run or pay to cancel it?

Cheers

 

[tom_e]

If you let it run and someone claims against in you're in for a painful time as your insurance company will still be partly liable along with whatever other policy is in force.

 

[Diddums]

30 seconds after hitting submit on this post they rang me back and "price matched" it so I don't have to pay anything, isn't that sweet of them


All cancelled, all good.

 

[Mercenary Keyboard Warrior]

Always worth mentioning that some insurers will allow you to suspend a policy if your planning on taking out another policy for eg a new bike at a later point.
Its not black and white as to who will and won't though so you can only ask.

Admin fees are a PITA on insurance, some allow you to make changes online with no fee, some charge no matter what
Its another thing worth considering when you take out insurance if changes are likely

 

[Uther]

Cancel asap. I recently cancelled a bike policy that still had 6 months to run, cheeky gits stung me for £40 cancellation fee.
Whole thing is a racket.

 

[booyaka]

30 seconds after hitting submit on this post they rang me back and "price matched" it so I don't have to pay anything, isn't that sweet of them


All cancelled, all good.

Glad it's sorted but leaving insurance to run can be a nightmare when you don't own the item your insuring any longer.

Problems with it should it be involved in a crash / claim etc and you are likely to dragged into it from there. There is no longer any insurable interest in the item - therefore it could be deemed as fraudulent in certain cases

 

[Semple]

This does beg the question however, if the bike is involved in a prang or whatever, am I liable?

Yes your insurance could be jointly liable for any claim made against the vehicle.

Not worth the headache for the £36 admin fee. If you're cancelling part way through the year you should get a pro-rata refund of the time unused.

 

[Diddums]

Yes your insurance could be jointly liable for any claim made against the vehicle.

Not worth the headache for the £36 admin fee. If you're cancelling part way through the year you should get a pro-rata refund of the time unused.

It wasn't the admin fee, it's the fact that they wanted me to pay more on top of that. They did however realise this as they rang me back and it's all sorted now.

 

[Uther]

I went with a different company for my new bike as the current ones quote was £lol
The refund was £68 out of which they took the £40 cancellation fee.
Hahaha
oh.