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Leaving bike insured

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TheSmiler
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PostPosted: 09:35 - 07 Jun 2012    Post subject: Leaving bike insured Reply with quote

After a definitive answer here on this topic purchased insurance in September so still have 3 months insurance to go on my bike. However decided its time to sell my bike and put the sale price towards dass to get my license sorted and then purchase a bike.

So what I'm asking is are there any potential problems that can come from doing this Question Question Question

I know people that have done it before. But would like some reassuring.
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shereen
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PostPosted: 09:37 - 07 Jun 2012    Post subject: Reply with quote

I assume you mean leave the insurance running on your bike when its sold?

Go for it. I did it. Loads of people do it. Get involved Thumbs Up
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TheSmiler
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PostPosted: 09:47 - 07 Jun 2012    Post subject: Reply with quote

shereen wrote:
I assume you mean leave the insurance running on your bike when its sold?

Go for it. I did it. Loads of people do it. Get involved Thumbs Up


Yeah thats what I'm querying on any implications for actually doing sorry I didn't clarify on this.
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G
The Voice of Reason



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PostPosted: 09:53 - 07 Jun 2012    Post subject: Re: Leaving bike insured Reply with quote

Never heard of anyone I know having a problem doing this.

However, the issue comes if the other owner doesn't insurer it - if it then gets stolen and crashed in to a group of school kittens crossing the road - your insurance is liable and you could have a nasty claim against you.
It doesn't matter if it's only TPO, you're still liable for third party damage done after a theft.
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MarJay
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PostPosted: 10:09 - 07 Jun 2012    Post subject: Reply with quote

I'd do it for a week or maybe two, but three months is really pushing it IMO. Don't forget that now we have the MID that you could be enabling someone to ride uninsured...

I'd have to really really trust the buyer of my bike to do it.
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DrDonnyBrago
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PostPosted: 10:10 - 07 Jun 2012    Post subject: Reply with quote

hahadumball wrote:
Its illegal to have more than 1 insurance on a bike.
so new owner can't insure it.



Bullshit.
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G
The Voice of Reason



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PostPosted: 10:16 - 07 Jun 2012    Post subject: Reply with quote

As per Donny - some insurance company employees may try and say this because they can't be bothered to make a better excuse to not do any work.
However, there's absolutely no reason not to have two insurance policies on one vehicle.
Companies that do daily insurance (no longer available for bikes) specifically advertised that it was ideal for insuring someone else's vehicle.
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shereen
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PostPosted: 10:21 - 07 Jun 2012    Post subject: Reply with quote

hahadumball wrote:
Its illegal to have more than 1 insurance on a bike.
so new owner can't insure it.


https://i959.photobucket.com/albums/ae74/Clearancelines/Motivational_Poster__Facepalm_by_Paperluigi180.jpg
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DrDonnyBrago
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PostPosted: 10:21 - 07 Jun 2012    Post subject: Reply with quote

hahadumball wrote:
Looks like my insurance company told me a load of bollocks then


If an insurance company told me that the sky was blue, I'd still go out and check Thumbs Up .
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parkmoy
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PostPosted: 10:41 - 07 Jun 2012    Post subject: Reply with quote

DonnyBrago wrote:
hahadumball wrote:
Looks like my insurance company told me a load of bollocks then


If an insurance company told me that the sky was blue, I'd still go out and check Thumbs Up .


And looking at my sky at the moment, you would be well advised to. Blue it is not Sad
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shereen
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PostPosted: 10:56 - 07 Jun 2012    Post subject: Reply with quote

Lol at Hahadumball spamming my post. U mad bro?? Laughing
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MarJay
But it's British!



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PostPosted: 11:07 - 07 Jun 2012    Post subject: Reply with quote

shereen wrote:
Lol at Hahadumball spamming my post. U mad bro?? Laughing


At least 'abusive' *might* be justifiable in the eyes of a mod. That spam rating will get revoked now. If a mod sees it of course.
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P.
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PostPosted: 12:30 - 07 Jun 2012    Post subject: Reply with quote

hahadumball wrote:
Its illegal to have more than 1 insurance on a bike.


Load of poo poo.

I've had 3 policies on 1 bike from different people at one point Laughing
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jimac
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PostPosted: 12:35 - 07 Jun 2012    Post subject: Reply with quote

hahadumball wrote:
Its illegal to have more than 1 insurance on a bike.


It's not, but you can't claim against more than one policy for the same incident. So, it would actually be pointless having more than one although there may be occassions where it's convenient.
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Teflon-Mike
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PostPosted: 13:10 - 07 Jun 2012    Post subject: Reply with quote

jimac wrote:
hahadumball wrote:
Its illegal to have more than 1 insurance on a bike.


It's not, but you can't claim against more than one policy for the same incident. So, it would actually be pointless having more than one although there may be occassions where it's convenient.


Not really.

Imagine I have a policy on my CB750, but its a multi-bike policy covering that and one of the super-dreams, so I cant add a named rider.

I want to let Snowie use the Super-Dream.....

She doesn't have 'any vehicle with owners concent' extension on the policy for her bike....

so we have to take out a second policy in HER name to ride the 'spare' Duper-Dream.

Plenty of reasons to take multiple policies on the same bike. This is just one.
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MG
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PostPosted: 13:17 - 07 Jun 2012    Post subject: Reply with quote

Teflon-Mike wrote:
jimac wrote:
It's not, but you can't claim against more than one policy for the same incident. So, it would actually be pointless having more than one although there may be occassions where it's convenient.


Not really.

Imagine I have a policy on my CB750, but its a multi-bike policy covering that and one of the super-dreams, so I cant add a named rider.

I want to let Snowie use the Super-Dream.....

She doesn't have 'any vehicle with owners concent' extension on the policy for her bike....

so we have to take out a second policy in HER name to ride the 'spare' Duper-Dream.

Plenty of reasons to take multiple policies on the same bike. This is just one.


Exactly what he said. You couldn't claim on both policies for one accident though.
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map
Mr Calendar



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PostPosted: 13:24 - 07 Jun 2012    Post subject: Re: Leaving bike insured Reply with quote

TheSmiler wrote:
Leaving bike insured...still have 3 months insurance to go on my bike...So what I'm asking is are there any potential problems that can come from doing this...

I cannot see any problems if just let it run out. However, you might like to consider...

(1)
You may be charged for cancelling your policy unless you change/upgrade it to cover a new bike. May not be an issue with pay monthly though (others will need to advise).

and

(2)
You will not be able to use any accrued no claims discount/bonus until the original policy expires (or see (1) above).

If you cancel a policy before 12 months it's my understanding you don't get any extra no claims discount/bonus for that policy/year (others may have different experience).



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MG
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PostPosted: 13:28 - 07 Jun 2012    Post subject: Reply with quote

Map - isn't that exactly why he wants to let it run out? You get your no claims bonus and you don't get lumbered with a charge for cancelling.

I have a question - if he takes out a new policy on his new bike now, and an extra year's no claims arrives in 3 months time, is there any way to utilise that on the new policy?
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Rogerborg
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PostPosted: 13:53 - 07 Jun 2012    Post subject: Reply with quote

hahadumball wrote:
Looks like my insurance company told me a load of bollocks then

An insurer talking bollocks? I am all astonishment!

https://s1.hubimg.com/u/709812_f496.jpg

Don't worry, the DVLA, Plod and the CPS/Fiscal will all cheerfully lie to you as well about what the law is and isn't, either through genuine ignorance or just in order to get you to do what they want.

Pro tip: when anyone - up to and including a Law Lord - tells you that something is "illegal", the reply is "What statute are you citing?"

Then look it up.

Back OT here, the reason that you should at least consider cancelling the insurance is that if the bike is involved in a claim by a 3rd party (including, for example, a pillion on it), then your insurer may find themselves being required to share the payout to them. In that case, they could come after you, because you left them unreasonably exposed to liability.

It's very unlikely to happen, but be aware of the possibility and make your decision accordingly.
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shereen
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PostPosted: 15:26 - 07 Jun 2012    Post subject: Reply with quote

MarJay wrote:
shereen wrote:
Lol at Hahadumball spamming my post. U mad bro?? Laughing


At least 'abusive' *might* be justifiable in the eyes of a mod. That spam rating will get revoked now. If a mod sees it of course.


Well at least he had the sense to rate my last post as abusive Mr. Green Thumbs Up
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