Cancelling an insurance policy [Danny?]

Sparks! · Sir Tart-a-lot Joined: 30 Aug 2003 Karma :

Hi, I need to cancel my R6 insurance policy as I've taken out a new one with both bikes insured, for the same price... which means I need to cancel my old one.. they've asked for a letter of cancellation..

What exactly do I need to write in this letter?

Thanks Smile

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Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

Erm, that you're cancelling your insurance policey? Just include all reference numbers like your policy number. Not really much to put other than "hello. I'm cancelling my insurance policy with you, policy number 1234567890" is there? Confused

Robby · Dirty Old Man Joined: 16 May 2002 Karma :

As ste said, but you should also send back your certificate of insurance for it.

Keep a photocopy of the cert and send it recorded.

Sparks! · Sir Tart-a-lot Joined: 30 Aug 2003 Karma :

Thanks Ste, I was just making sure it was as simple as that really..

Good idea Robby, will send it recorded etc as well

Thanks Thumbs Up

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Current Toys: 06 Yamaha WR250F | Nissan 350Z GT | Tech 4 Homes

Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

When I've been changing insurance policy details they do ask for the certificate of insurance to be sent back to them but I just told them that I had destroyed it (shredder). Easier and less hassle.

Danny · Ask Me About Stoppie School Joined: 26 Jan 2003 Karma :

What Ste said. Thumbs Up

G · The Voice of Reason Joined: 02 Feb 2002 Karma :

Bit late now, but are you actually getting much money back?

It's often worth leaving policies open because then you have an extra 'stream' of no claims bonus that can be used if for whatever reason you loose your first.

Sparks! · Sir Tart-a-lot Joined: 30 Aug 2003 Karma :

It's paid on direct debit, and I've only had the policy for about 2 months, so technically I won't be losing anything as such.
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John · World Chat Champion Joined: 27 Apr 2003 Karma :

Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

You're allowed to have as many as you want going at the same time. Smile

Rob · World Chat Champion Joined: 16 Mar 2002 Karma :

Isn't there some clause that if you take out a policy on installments, you are liable for a certain amount of the policy so you have to pay a minimum amount even though you cancel the policy?
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Love is 1050cc Smile

Ste · Not Work Safe Joined: 01 Sep 2002 Karma :

Believe with ones in installments you're liable to pay the whole thing, as people who have had their bike nicked and had to claim and the insurance then being made void still have to pay the rest of the years payments! Yams, have you asked them on the phone how much you'll get refunded if you send this letter? Well not refunded, but have they actually said they'll stop taking all the monthly payments?

Sparks! · Sir Tart-a-lot Joined: 30 Aug 2003 Karma :

Why would they continue to take the payments, they don't ever do that if you cancel! I've been told they may take the next payment, but she said they would then refund it.
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G · The Voice of Reason Joined: 02 Feb 2002 Karma :

Some places do it as 'finance'. Ie you borrow the money with a credit agreement. This is seperate to the actual insurance.

So they may refund you, then you have to pay the 'finance' off.

Sparks! · Sir Tart-a-lot Joined: 30 Aug 2003 Karma :

Aint no way I'm paying the next 10 months of the finance for a policy that is no longer in use Smile

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