Insurance cancellation fee for sold vehicle

mysteryUser

I had a similar situation recently. Sold a car which had around 3 weeks left on the insurance. Emailed to ask to cancel and they wanted to charge close to £50 cancellation. I explained that was a bit crazy and asked if they could just let it lapse instead, which they agreed to. 

HHarry

Can you be a bit cheeky and ask them to put the policy ‘on hold’ until you’ve found a new bike.

And then not look to hard in the next 2 months.

Sandtree

mysteryUser said:

I had a similar situation recently. Sold a car which had around 3 weeks left on the insurance. Emailed to ask to cancel and they wanted to charge close to £50 cancellation. I explained that was a bit crazy and asked if they could just let it lapse instead, which they agreed to. 

As noted above, you can naturally allow it to run and end naturally but you could be on the hook for £100k+ should the new owner have an accident and haven't bought other insurance... its unlikely but it does happen and there are examples on this site of it having happened to members where this happened. 

shane2k

most insurance give limit of 2 week hold otherwise they cancel and charge you i had this 5yrs ago as my bike was written off

heres one that someone had bad news https://www.dailyrecord.co.uk/news/scottish-news/scots-biker-insurance-hell-after-4141840

moneyrob2

Apologies for the late reply (holidays)…
Update with conclusion for anyone interested….
This has gone ‘round the wringer a few times with the Insurer now.  A second agent proceeded to cancel without a fee (and even refunded a few quid for the remaining unused period).  Then a letter a few days later demanded I get in touch to pay a cancellation fee! 😩
One complaint later and it’s all settled with no further action.  I won’t be using those guys again.