Insurance policy help

sar89

Hi all,

Used this forum before and it helped me LOADS!

But back with another problem unfortunately..

I had a motorbike which was stolen on the 26th of august. I reported it to my insurance company. And was making a theft claim. But later dropped the theft claim because I realized I wouldnt get hardly any a payout, and would rather not have a claim on record.

Ive recently noticed the money I was paying for insurance has came out twice. So I called them to explain it and ive been told I need to pay a £24.03 cancellation fee.

Surely I shouldnt have to cancel a policy when my bike was stolen? Even more so when I told them it was stolen and they kept the policy running?

Quentin

If you no longer want the policy you need to cancel it which will almost certainly involve you paying cancellation charges.

Check the policy wording to see what happens when you cancel mid term.

forgotmyname

You cannot insure something that you dont have. And the incident is on record so future premiums will still be based on the fact you have had a bike stolen.

Still needs to be declared for upto 5 years even though you did not claim.

sar89

So basically I got conned into dropping my claim to keep it off record?

Quentin

You cannot keep the stolen bike "off record", and must disclose this to other insurers you approach in future, but as you didn't claim, then you have no claim on record, and any NCD you had at the start of the policy remains intact.