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A Good Reason To Cancel Your Insurance When You Sell A Bike


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#1 AliG

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Posted 03 September 2021 - 05:24 pm

Spotted this on the White Dalton website today. Great advice for anyone not in the know.

 

https://www.whitedal...exactly a bonus


Edited by AliG, 03 September 2021 - 05:25 pm.

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#2 fixitsan

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Posted 03 September 2021 - 11:23 pm

That scenario always perplexes me.

The purpose of insurance is to step in at the point when you as the driver, carelessly cause damage to someone else's property, taking up your responsibility to pay reparation.

Reparation must be paid when anyone carelessly or negligently causes loss, damage or injury to anyone or anything (more or less)

 

If the bike is only insured for the policyholder and another rider crashes it then there isn't a valid policy against which a claim can be made, by anyone but the policy holder (as per their contract) . I suppose the 'solicitor's tricks' mentioned in the article are designed to skirt around the issue of policy validity.

 

 

I suppose this is a motivation for insurers, quote "would have been a damn sight cheaper than letting it run and trying to secure another year’s no claims bonus"

 

 

I know of someone who bought a moped to insure and never rode it,to increase his NCB


Edited by fixitsan, 03 September 2021 - 11:28 pm.

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#3 Bjørge

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Posted 04 September 2021 - 06:24 am

I was surprised to see that digitalisation has come so far over here that 2 minutes after I registered the Mk1 on the new owner there was an incoming SMS saying that my insurance is cancelled from midnight. Fan-really-tastic😎
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#4 AliG

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Posted 04 September 2021 - 01:19 pm

I was surprised to see that digitalisation has come so far over here that 2 minutes after I registered the Mk1 on the new owner there was an incoming SMS saying that my insurance is cancelled from midnight. Fan-really-tastic

That's how it should be. Presumably, if you sell a vehicle in the UK, the only way to avoid liability would be to send an email to your insurance company just before it is driven off by the new owner. Then you have physical, time and date stamped evidence that the insurance has been cancelled.


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#5 fixitsan

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Posted 04 September 2021 - 01:32 pm

I was surprised to see that digitalisation has come so far over here that 2 minutes after I registered the Mk1 on the new owner there was an incoming SMS saying that my insurance is cancelled from midnight. Fan-really-tastic

 

That requires data sharing between government bodies and private companies which is slowly coming here.

Actually we had an option to intervene in that process recently, when we were being made aware of the option to make sure the NHS doesn't share our data with private companies.

So I suspect the government is getting ready to use data sharing as a bona-fide source of income !


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#6 PICARD

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Posted 04 September 2021 - 05:33 pm

That's how it should be. Presumably, if you sell a vehicle in the UK, the only way to avoid liability would be to send an email to your insurance company just before it is driven off by the new owner. Then you have physical, time and date stamped evidence that the insurance has been cancelled.


Yes Ali, but I think the problem lies with not wanting to loose no claims bonus, which would happen when insurance company is informed of sale.
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#7 Matlock

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Posted 05 September 2021 - 07:49 pm

That scenario always perplexes me.

The purpose of insurance is to step in at the point when you as the driver, carelessly cause damage to someone else's property, taking up your responsibility to pay reparation.

That was the original intention of insurance I believe, but some years ago it became a mechanism for insurance companies and their various parasitical chums to profiteer as much as possible from punters.

I have a family member who works for a totally legitimate "claims management" company used by most of the big UK insurance firms. Their job is to screw as much money out of a claim as they can, through any mechanism they can, such as vehicle storage, recovery and hire changes, all at hugely inflated rates. The insurance companies then get a kickback.


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#8 fixitsan

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Posted 05 September 2021 - 08:49 pm

That was the original intention of insurance I believe, but some years ago it became a mechanism for insurance companies and their various parasitical chums to profiteer as much as possible from punters.

I have a family member who works for a totally legitimate "claims management" company used by most of the big UK insurance firms. Their job is to screw as much money out of a claim as they can, through any mechanism they can, such as vehicle storage, recovery and hire changes, all at hugely inflated rates. The insurance companies then get a kickback.

 

I've definitely witnessed that, on the receiving end it just feels like bad/cold customer service, but, as long as they all do it together you don't have better options !


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