Member Since: 30 Aug 2014
Location: Liskeard
Posts: 7441
Thanks for the heads up 2011 - 2015: 3 x FL2
2015 - 2017: 2 x D4
2017 to date: FFRR SDV8
2023 to date: 2 x FL2 as “second” cars 🙄
2021 to date: Hinckley built ‘14 Triumph Trophy 1200
2022 to date: Hinckley built ‘14 Triumph Trophy 1200 & sidecar!
(One of only two known to exist in the world!)
29th Jul 2017 6:06 pm
DSL Keeper of the wheelie bin
Member Since: 11 May 2006
Location: Off again! :-)
Posts: 73132
Cancelled the insurance on Dark Bluie as soon as handed it to the contractor to scrap her. Not that she was going anywhere without a winch and a trailer. With virtually every bit of removable electronics, battery cables, fuses and relays removed she was going absolutely nowhere under her own steam. Even the gear selector got removed.
Click image to enlarge
29th Jul 2017 6:12 pm
Charliecloud
Member Since: 31 Jul 2014
Location: Tonbridge
Posts: 980
Interesting, I am Insured with MCE for my bike. When I sold it a month ago they told me to leave my policy dormant, as early cancelation charges would wipe out any refund.
The guy who bought my bike is Insured as he did the bike details on the phone from my house. So I guess this only applies to uninsured vehicles
Last edited by Charliecloud on 30th Jul 2017 8:24 pm. Edited 1 time in total
29th Jul 2017 6:16 pm
lynalldiscovery
Member Since: 22 Dec 2009
Location: Maidstone
Posts: 7274
I do sometimes think the way to live is to have zero assets in your own name and anything you do need ie a car have on finance, so you literally have nothing to take, apart from the clothes you are wearing and if you buy them on your credit card?
29th Jul 2017 7:54 pm
L319
Member Since: 14 Dec 2013
Location: Herefordshire
Posts: 2083
Charliecloud wrote:
Interesting, I am Insured with MCE for my bike. When I sold it a month ago they told me to leave my policy dormant, as early cancelation charges would wipe out any refund.
I believe Dormant means the policy is exists but nothing is insured on it.
29th Jul 2017 9:32 pm
Dave T
Member Since: 03 Jul 2009
Location: Glasgow
Posts: 6910
Seems barking, but to be honest, why wouldn't you cancel and get a refund?Joined the BMWX5 45e group
1994 Defender 90
2015 RRS Corris Grey/Black roof
2016 D4 Graphite Santorini Black
2012 D4 XS Orkney Grey
2005 D3 S Maya Gold
Convoy for Heroes 2011
30th Jul 2017 10:01 am
adam
Member Since: 20 Sep 2005
Location: Home and Happy
Posts: 6917
^ Absolutley - or transfer policy to new vehicle if you have chopped it in?
30th Jul 2017 10:06 am
Discoveringcomfort
Member Since: 16 Sep 2015
Location: Berkshire
Posts: 637
If you don't cancel your insurance for that vehicle the new owner cannot insure it as it is illegal to insure a vehicle twice as it is considered a fraudulent attempt.Series 1 V8
Series 2 Hibrid V8
Discovery 3 HSE V8
I think the double insurance is only a problem when someone tries a fraudulent claim. Overlap is not an issue.
A dormant policy used to be quicker for getting insurance on new car but that's probably not true these days with online insurance.
Certainly worth while if it saves cancellation charges..
Dean
====================================
2011 D4 XS - OBD port protection, RLD spare wheel protector, All LED interiors lights, Timed Climate enabled, iiD tool paired.
2011 D4 Landmark - Stolen from same dealer before I paid for it
2011 D4 GS - Stolen whilst at dealer ... All LED interiors lights, DRLs, Spare Wheel protector.
1996 300Tdi - Eaten by tin worms
One of the underlying principles of insurance is called "insurable interest". What it means is that you cannot insure something which you don't either own, or have an interest in, such as a child or a wife. Trying to do so is actually illegal as it is in fact gambling. I cannot take out life insurance on Trump but I can bet on him being assassinated.
So perhaps we don't have the full story here as to registered ownership, payment, etc.
On the really cheap policies there is a charge to cancel, and at about four months into the policy period this charge becomes greater then the tapering refund available.A vaccine does not stop you catching a virus, or passing it on, or getting ill from it, really ill. It does reduce the likelyhood of you dying when really, really ill. Stay Alive - KEEP AWAY FROM PEOPLE.
31st Jul 2017 4:47 pm
lespes
Member Since: 17 Sep 2009
Location: Sitting Down
Posts: 2232
Dave T wrote:
Seems barking, but to be honest, why wouldn't you cancel and get a refund?
With Bike insurance most companies have a very heavy tail off of premium return, usually after 3 months you would be entitled to zero premium back. Guess being mainly a summer activity for many, stops them taking policy out then cancelling 3 months later.
So keeping the policy in force earns a 12 month ncb.
In the good old days with Bikes it was the rider that was insured, rather than the bike, but this has all changed in the main with the continous insurance policy. This also effected many self employed builders etc, who would cancel their insurance when they had no work on.
Personally think it was a scare tactic to stop people doing it and profit the insurance companies even more. Its all loaded the insurers way, you have to earn NCB on each vehicle separately but 1 accident will effect all your policiesD4 Landmark MY16 Santorini Black THE LAST
D4 HSE MY12 Marmais Teal: Gone. Missed a lot!
Freelander 2 SD HSE MY11 Silver:Thankfully gone.
D4 HSE MY11 Silver: Gone missed !
Range Rover Sport MY06 HSE Buck Blue: Gone missed!
Discovery D2 TD5 Facelift MY Red Gone Missed!
Discovery D2 TD5 Cobalt Blue: Gone Missed!
Discovery D1 Auto Oxford Blue Not missed at all!
Discovery D1 Avalon Blue First LR! missed!
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... All LED interiors lights, DRLs, Spare Wheel protector.
