Should I cancel my insurance policy

forgotmyname

fivetide wrote: »

The above is somewhat unlikely.

5t.

I agree but as i mentioned chances of winning the lottery is quite unlikely also yet people do most weeks.

leereni

But really are you saying just because I've got insurance on a vehicle I can be charged and convicted in court for driving/riding it during an accident. It's not the same as being the registered keeper as they are obliged to nominate the driver if it wasn't them...

dacouch

leereni wrote: »

But really are you saying just because I've got insurance on a vehicle I can be charged and convicted in court for driving/riding it during an accident. It's not the same as being the registered keeper as they are obliged to nominate the driver if it wasn't them...

It's very unlikely.

What can and does happen is if you don't cancel and the new owner does not insure the vehicle and register the bike properly. If they have an accident, your Insurer could have to pay out a fault claim the from the new owner.

I've seen it a fair few times, it's most common with part time motor traders whose paper work is lax. They sell a cheap car, write a receipt out and send the log book off. The log book does not arrive at the DVLA so the car stays in their name, the new owner has an accident and the other Insurers see the motor trader insured the car so claim against them. The Insurers often employ tracing agents but they don't always find the people.

I've seen the above fairly frequently, I get my motor traders to photocopy the buyers I.D and the log books which they send recorded delivery.

It does happen to normal motorists on occassion, I've seen a handful of cases for normal motorists.

If there's an Insurance policy on a vehicle, the Insurer of the vehicle can be made to pay claims even if the driver of the vehicle is not covered by the policy. It's part of the Road Traffic Act

leereni

Yes I was thinking about telling the buyer to bring with them their insurance documents when they buy the bike, photocopy it along with other documents and a carbonated receipt of purchase. I'll be selling probably to someone in my organisation, so traceable....