FOAK : Insurance cancellations

Right, bike has been sold for a couple of weeks.

Haven't yet got round to writing the letter (as apparently it has to be
a letter) to the Broker informing them of the sale.

My insurance is up in October (9th) at which point I would get 4 years
NCB.

If I inform them of the sale now, I get 3 years NCB, no refund and end
of the matter and I've been a 'good boy'.

What are the implications if I don't tell them and just don't renew
when they send my renewal out in October[1]? Can a vehicle have more
than one insurance policy applying to it? Will I get in trouble if I
don't tell them ASAP and said vehicle has an accident?


[1] Assuming the post redirection service actually works and I get it.

 

Is it not you that is insured to drive the bike so I'd have thought you'd be
fine. If they are tight fisted enough to not give you a refund I'd play the
game and go for the 4 years NCB - after all you've paid for it and represent
absolutely no risk to them.

 

Well I just wonder what happens with these new police 'wonder'
computers that pop up (or not) all the details about vehicles.

Two insurances may cause problems - dunno, hence the question.

Well, all companies are the same IME (after 10 months you get 0% back)
so they aren't unique.

Unforutnately I suspect representing no risk doesn't enter into it -
it's far too logical.

 

Should be fine. There's absolutely no reason why the same vehicle
shouldn't be covered by several different people's policies.

So yes, you should just not cancel it until the renewal is due,
assuming there's no other vehicle onto which you want to transfer it.

--
_______
..'_/_|_\_'. Ace (brucedotrogers a.t rochedotcom)
\`\ | /`/ GSX-R1000K3
`\\ | //' BOTAFOT#3, SbS#2, UKRMMA#13, DFV#8, SKA#2, IBB#10
`\|/`
`

 

Your current insurance has become invalid.
In general, you can not insure something you do not own.
Chances are, you must inform your insurance company (Terms of the contract
stuff).

However, I would do nothing and collect the four years.

 

In that case, if they do get stroppy just say "Oh, I didn't think it was
worth telling you as I'd not be able to get any money back", and ignore
it.

After all, the worse they can do is send you a brusque letter.

 

And cancel the insurance (if they discover before the end of cover)

THEN:
The next time when an insurance company asks "have you ever had an insurance
refused or cancelled" they will load the premium.

 

Well yes - I am just concerned about losing the NCB IYSWIM.

Whilst I won't have a bike for the short term, I definitely intend to
get another, most likely high(ish) powered one (ie at least group 14),
so NCB would be useful.

 

I very much doubt them closing a policy that's no longer required would
count as having insurance cancelled, particularly if the claim was you
didn't know it had to be done 'cause there was no refund due.

They must have that kind of thing happen a few hundred times every
month.

 

You're not losing it - you haven't earned it yet.

 

I meant ALL of it, rather than the fourth year.

I most certainly have earnt the existing 3 years!

 

If your current insurer discovers you do not own the bike they WILL cancel
your insurance.
No if or buts about it!

FACT!
What you are contemplating is FRAUD.
Fraud is the offence of falsely withholding information to gain monetary or
material advantage.

 

FACT! You are talking out of your arse!

There is nothing fraudulent about insuring a bike you don't own.

Some people worry too much.

 

I'm not contemplating anything. Also you sound angry.

 

AFAIK you can't have more than one policy on a vehicle, so it will
probably get flagged on the insurance database. Why not just buy some
old shed with a V5 for a few quid & transfer the cover to that for the
remaining term? Or ask someone with a shed-full of SOBs to transfer
ownership of one to you for a few months?


--
Krusty
www.MuddyStuff.co.uk
Off-Road Classifieds

'02 MV Senna '03 Tiger 955i '96 Tiger '79 Fantic Hiro 250

 

What a load of old cobblers.

No it's NOT.

But on the basis of this one posting I think we can safely assume you
are a TROLL.

--
_______
..'_/_|_\_'. Ace (brucedotrogers a.t rochedotcom)
\`\ | /`/ GSX-R1000K3
`\\ | //' BOTAFOT#3, SbS#2, UKRMMA#13, DFV#8, SKA#2, IBB#10
`\|/`
`

 

Bullshit. Anyone that's ever bought a vehicle on HP has done this, not
to mention anyone that's ever had somebody else's vehicle added to
their own insurance, which kind of assumes that their insurance
company knows about it and is happy with it. no?


--
_______
..'_/_|_\_'. Ace (brucedotrogers a.t rochedotcom)
\`\ | /`/ GSX-R1000K3
`\\ | //' BOTAFOT#3, SbS#2, UKRMMA#13, DFV#8, SKA#2, IBB#10
`\|/`
`

 

YAWN.......................
Have you ever read an insurance contract that does not state "any change in
circustances, you must notify"

Which part of "In general" do you not understand?

 

Yes, I know sorry.
Thought it was a post by dwb.

 

....as any circumstances not declared may affect the validity of the
insurance in the event of a claim. Which, if he no longer owns the bike,
he's particularly unlikely to do.

I'd sit back, let the NCB tick over, and wait for the renewal notice,
just like anyone else with half a brain in the same situation.