Insurance Rip Off
Moderator: Staff
- Mr Tuscan
- Learner Driver
- Posts: 245
- Joined: Aug 3rd, '19, 18:18
- First Name: Simon
- Location: Weston-super-Mare
Insurance Rip Off
So I sold my 125 bike today, so phoned up my insurance company to cancel cover.
Now bear in mind my policy started last March so I’m paid up for the year as I was paying by monthly instalments.
I should have kept my mouth shut, I have 25 days cover left on this sold bike apparently and because of that and the fact I’ve told them I’ve sold my bike, I’m being charged £41 cancellation fee on a policy that only cost £140 in the first place.
I have both my bike with this company as I thought they were a good company, yes yes I’m sure it’s in the small print but feel I’m being ripped off!!!
Now bear in mind my policy started last March so I’m paid up for the year as I was paying by monthly instalments.
I should have kept my mouth shut, I have 25 days cover left on this sold bike apparently and because of that and the fact I’ve told them I’ve sold my bike, I’m being charged £41 cancellation fee on a policy that only cost £140 in the first place.
I have both my bike with this company as I thought they were a good company, yes yes I’m sure it’s in the small print but feel I’m being ripped off!!!
Use your awareness of others lack of ability to focus your own!
Re: Insurance Rip Off
Bennetts charged me £50 to cancel one policy, which was taken out of the refund, but I knew it was going to happen as I had read the small print.
They did then send me a £50 voucher to use within 30 days if I started a new policy, which I didn't... but the thought was there.
I heard a story where one guy, when faced with this dilemma, remembered the registration plate of the 125 he had many years ago. Gambling that his old 125 would surely not be on the road now he transferred the policy to that bike. Somehow this became a new policy and so he had 1 years insurance on this bike but also had a 30 day cooling off period, so cancelled that new policy and got his money back.
They did then send me a £50 voucher to use within 30 days if I started a new policy, which I didn't... but the thought was there.
I heard a story where one guy, when faced with this dilemma, remembered the registration plate of the 125 he had many years ago. Gambling that his old 125 would surely not be on the road now he transferred the policy to that bike. Somehow this became a new policy and so he had 1 years insurance on this bike but also had a 30 day cooling off period, so cancelled that new policy and got his money back.
1190 Adventure S, 990 Superduke, DRZ-400E - all the bases covered.
- jer r1
- SWB Subscriber
- Posts: 917
- Joined: Jul 12th, '10, 19:20
- First Name: jerry
- Location: the northern quarter [near bath ]
Re: Insurance Rip Off
As far as I'm aware if you leave a policy running on a vehicle you no longer have ,in the event of an accident involving your old vehicle you could still be liable as the insurance holder so could cost you alot more.
KEEP CALM
AND
POWER ON
AND
POWER ON
- Robbo87
- Learner Driver
- Posts: 2758
- Joined: Feb 13th, '09, 19:42
- First Name: Phil
- Location: Ottery St Mary
- Contact:
Re: Insurance Rip Off
For many years now Insurance companies have not been the (relatively) free and easy(ish) people to do business with they used to be.
Nowadays, if they can extract a shilling from you they will; if they can bury punitive clauses in their T & C's they will.
Simply put, your loyalty to one company means nothing to them and if they can wriggle out of paying out they will.
Caveat emptor are your watchwords with all things, and never more so than with vehicle insurance companies.
Nowadays, if they can extract a shilling from you they will; if they can bury punitive clauses in their T & C's they will.
Simply put, your loyalty to one company means nothing to them and if they can wriggle out of paying out they will.
Caveat emptor are your watchwords with all things, and never more so than with vehicle insurance companies.
Triumph Sprint ST 1050.
- Mr Tuscan
- Learner Driver
- Posts: 245
- Joined: Aug 3rd, '19, 18:18
- First Name: Simon
- Location: Weston-super-Mare
Re: Insurance Rip Off
Stinks eh
Gone are the days chatting to ones bank manager
Gone are the days chatting to ones bank manager
Use your awareness of others lack of ability to focus your own!
- billinom8s
- Site Admin
- Posts: 19884
- Joined: Sep 10th, '05, 22:31
- First Name: simon
- Location: Teignmouth
Re: Insurance Rip Off
they are all rip offs
07977507395
don't forget we are onX and Instagrambelieve it or not !!!
southwestbikers@southwestbikers (original, I know.)
KTM 990 superduke R,
Zx10r trackbike, ktm 350 excf muddy
Suspension and bike work undertaken.
don't forget we are onX and Instagrambelieve it or not !!!
southwestbikers@southwestbikers (original, I know.)
KTM 990 superduke R,
Zx10r trackbike, ktm 350 excf muddy
Suspension and bike work undertaken.
- TLS-Moose
- Site Admin
- Posts: 7096
- Joined: Dec 14th, '05, 22:59
- Location: The fringes of NA, sadly not the UK equivalent of LA!!
Re: Insurance Rip Off
If the new owner has not taken out a policy on the machine, uses it on the road, and has an accident and your old policy is live, then yes the third party can claim on your policy. Not only that, but your insurer has the right to recover all their reasonable costs & expenses from you.
Always cancel a policy as soon as a vehicle leaves you .... That £40/50 might end up being a bargain .....
Of all the things I have ever lost, I miss my mind the most .....
Handle stressful situations like a dog - If you can't eat it or play with it, pee on it and walk away
Handle stressful situations like a dog - If you can't eat it or play with it, pee on it and walk away
- ptolemyx
- SWB Subscriber
- Posts: 2445
- Joined: Jun 14th, '15, 06:10
- First Name: Brian
- Location: Exmoor in deepest North Devon
Re: Insurance Rip Off
I think of insurance as a tax we must pay to make more rich people even richer.
How many times have we heard of making a claim ending up actually costing more than not claiming. Even if the claim is paid can you afford the excess and the hassle of getting recompense for uninsured losses, not forgetting the probable hike in future insurance premiums? Yes you can get "extra" insurance to cover those costs but should you have to?
How many times have we heard of making a claim ending up actually costing more than not claiming. Even if the claim is paid can you afford the excess and the hassle of getting recompense for uninsured losses, not forgetting the probable hike in future insurance premiums? Yes you can get "extra" insurance to cover those costs but should you have to?
old and disgraceful so doing what I can while I can before I can't
07949879213
07949879213
Re: Insurance Rip Off
I'm reading through a pile of old PB mags and one guy (on the readers garage feature) had something like 10 bikes. One of them was handed down to him so was something really old and crap but he said that bike was his key to cheap insurance.
It's MOT & Tax exempt (so no annual cost of ownership), qualifies for special rate classic insurance and each additional modern bike only added about £10.
What's the cheapest classic bike (pre 1980) I can buy I wounder..
It's MOT & Tax exempt (so no annual cost of ownership), qualifies for special rate classic insurance and each additional modern bike only added about £10.
What's the cheapest classic bike (pre 1980) I can buy I wounder..
1190 Adventure S, 990 Superduke, DRZ-400E - all the bases covered.
-
- Learner Driver
- Posts: 290
- Joined: Jan 27th, '20, 21:59
- First Name: Craig
- Location: Dawlish
Re: Insurance Rip Off
you actually only need the v5 possible a frame so could be really cheapJug_Inspector wrote: ↑Feb 20th, '20, 09:49 I'm reading through a pile of old PB mags and one guy (on the readers garage feature) had something like 10 bikes. One of them was handed down to him so was something really old and crap but he said that bike was his key to cheap insurance.
It's MOT & Tax exempt (so no annual cost of ownership), qualifies for special rate classic insurance and each additional modern bike only added about £10.
What's the cheapest classic bike (pre 1980) I can buy I wounder..
- r1dave
- Learner Driver
- Posts: 1796
- Joined: Jan 27th, '06, 23:43
- First Name: dave
- Location: seaton devon
Re: Insurance Rip Off
just insured my zx12r £93 robbing swines
- ptolemyx
- SWB Subscriber
- Posts: 2445
- Joined: Jun 14th, '15, 06:10
- First Name: Brian
- Location: Exmoor in deepest North Devon
Re: Insurance Rip Off
"just insured my zx12r £93 robbing swines"
That's cos you're old
That's cos you're old
old and disgraceful so doing what I can while I can before I can't
07949879213
07949879213
- Mr Tuscan
- Learner Driver
- Posts: 245
- Joined: Aug 3rd, '19, 18:18
- First Name: Simon
- Location: Weston-super-Mare
Re: Insurance Rip Off
Kudos when it’s deserved
I’ll post the letter up later but good on Carole Nash, I complained and they waived the fee in return for keeping my custom and the letter was quite old school and well written
Good on Carole Nash
I’ll post the letter up later but good on Carole Nash, I complained and they waived the fee in return for keeping my custom and the letter was quite old school and well written
Good on Carole Nash
Use your awareness of others lack of ability to focus your own!
- Mervin
- SWB Subscriber
- Posts: 4719
- Joined: Nov 18th, '05, 19:42
- First Name: mervin
- Location: near bideford
Re: Insurance Rip Off
last mortal remains of an MZ or CZ i reckon , even those are getting collectable now ,maybe a jawa or one of those tomos mopeds they used to sell in the freemans catalogueJug_Inspector wrote: ↑Feb 20th, '20, 09:49 I'm reading through a pile of old PB mags and one guy (on the readers garage feature) had something like 10 bikes. One of them was handed down to him so was something really old and crap but he said that bike was his key to cheap insurance.
It's MOT & Tax exempt (so no annual cost of ownership), qualifies for special rate classic insurance and each additional modern bike only added about £10.
What's the cheapest classic bike (pre 1980) I can buy I wounder..
Being shot out of a cannon will always be better than being squeezed out of a tube. That is why God made fast motorcycles,
Hunter S Thompson
Hunter S Thompson