Motorcycle Insurance

mr_cool

Basically I took out my policy nearly 6 months ago and paid for it in full. I have sold the bike and phoned up my insured to cancel the policy. The woman calculated it and said I would only get 20% back and by the time they took off the cancelation fee I would be due to PAY THEM £15. I said ok but in that case I would be better not to cancel to which she said this is illegal (as I no longer own the bike?)

Is it illegal to leave it running and is there any chance of me getting them to waive the charge? I might have been better paying it monthly...

Steve1981

mr_cool wrote: »

Basically I took out my policy nearly 6 months ago and paid for it in full. I have sold the bike and phoned up my insured to cancel the policy. The woman calculated it and said I would only get 20% back and by the time they took off the cancelation fee I would be due to PAY THEM £15. I said ok but in that case I would be better not to cancel to which she said this is illegal (as I no longer own the bike?)

Is it illegal to leave it running and is there any chance of me getting them to waive the charge? I might have been better paying it monthly...

if you dont have the bike then you cant keep the policy running, unless they allow you to suspend it (some companies do this, it means you will still get your ncd at the end of the year as long as you havent made a claim, plus you will avoid the cancellation fee.

if you were paying it monthly you would still have to pay the fees (and probably would have had to pay a monthly charge) if you had simply cancelled your direct debit the money would still be owed, and if not paid then passed to a debt collection agency.

I would imagine now though that as you have told them to cancel it, that it is cancelled, insurance cannot usually be reinstated once you have ended a pol (this is different at renewal when a grace period may apply)

mr_cool

I don't think she did cancel it as I ended the call saying I will just leave it running for just now then.