Bike buying, selling and insurance conundrum

[Doovy]

Okay, so a few questions regarding selling, buying and insurance in between.. so bear with me as I explain the points of focus:

- My insurance runs out 8th September

- I want to sell my bike and upgrade to a more sportier one

- Current insurance wont let me change the bike on the policy

- I want my year No Claims Discount


So.. if I sell my bike, say, tomorrow.. and have a month left on the policy, will it be okay just to let the policy run to the end..? Or will the new buyer have trouble insuring it (as it would be insured in two policies with two different people; me and the new buyer)?

And also - IF I were to sell it tomorrow (have a buyer interested), can I borrow a bike from anyone here for a few weeks please so I can make it to the BCF BBQ? (Paddy.. looking at you here! ha)
____________________
Yamaha RXS 100 > Honda CD 250 > Honda Hornet 600 > Honda CBR 600RR > Yamaha RXS 100 > Kawasaki ZX6R J2 > Yamaha FZ1

[Wonko The Sane]

some insurance companies will tell you that it's illegal to have two insurance policies in force at once - they are talking out of their arses.

For me to insure my car with direct line and a second policy with LV is questionable as to my motives and definitely fraud if I claim on both for the same accident.


For you to have an insurance policy and the buyer to also have one is fine

Your risk is an insurance company finding out and being an arse, the other risk is someone claiming against your insurance for an incident involving the new owner.

[Aff]

Nothing wrong with having 2 policies on one bike, just not allowed to claim twice on one accident.

Why won't they let you swap bike?
____________________
Current Bikes:Honda 929RR Fireblade, Honda CD200 Benly (Project), Stomp Z2 140
Electric Bike Project

[Doovy]

Ok, that's what it said about 2 policies in various places on the net.. I can understand issue if there was a claim. Will notify new buyer.

Current company (MCE) being cocks, current insurance on a Hornet and I inquired about what if I got an R6, would they be able to move it over? Said no. A new policy is roughly the same price though as renewal
____________________
Yamaha RXS 100 > Honda CD 250 > Honda Hornet 600 > Honda CBR 600RR > Yamaha RXS 100 > Kawasaki ZX6R J2 > Yamaha FZ1

[evoboy]

Insurers make it up as they go along.

Ive never had a problem swapping bikes, they just charge an admin fee and any increase in premium if there is any.
____________________
Suzuki GT250 x7------- Fazer 600------CB250RS------Aprilia Rally 70----- Bandit 600

APT Motorcycles

[P.]

If I fix the TL1000S tomorrow as long as you have the relevant insurance and ability to lock it up, you can come grab it from Maidstone.

Bonus for me also as I'm driving to the BBQ and I could do with riding a bike once there

[Derivative]

I have almost certainly never had a scrapped bike insured for 8 months to contribute to my no claims bonus.

It frankly wouldn't be reasonable.

[The Tot]

On the one time where that did happen to me, I let my insurance run through for the month - Sold the Ninja in jan since insurance was due to run out in feb. Bought the blade in feb and started a new policy. I wasn't riding anything else in the time being, so yes, I've done it!

I won't be heading to the BBQ, but NO you're not borrowing Marco!
____________________
The Tot 2019 Z1000SX - 2007 R1
Never argue with autism

[Doovy]

[P.]

Let me know. Ideally, I'd like another ride to make sure its all good so Sunday is ideal but you know, however you are booked.

[Doovy]

Cool - just PM'd. Need to get new MOT on it so I may still have it for the BCF BBQ, if not then we shall discuss!!
____________________
Yamaha RXS 100 > Honda CD 250 > Honda Hornet 600 > Honda CBR 600RR > Yamaha RXS 100 > Kawasaki ZX6R J2 > Yamaha FZ1

[P.]

It's all good with me anyway... gonna spend an hour fixing it up tonight, 2 hours if I decide to increase the power.

[Kierran]

Dont see why it would be fraud to have two policies covering the one bike. They wouldnt give a shit if nothing happened and would be happy to take the money. It would be like betting on a hand at black jack then having someone else back the same bet. As long as you dont deliberatly over insure it then crash it deliberatley it shouldnt be fraud!
____________________
Im not driving too fast, Im flying too low!
Current Bike - GSXR 750 K5
Current Car - BMW 318i

[-Matt-]

No idea on the legalities of the multiple insurances thing - but i'd hazard a guess it might be illegal purely on the basis that it would encourage situations like...

Person buys bike for 1000 pound

Person insures bike with 5 insurance companies at the value of 1000 pounds

Persons bike is 'stolen'

Claims on all 5 insurances - paying out even below value way over the value of bike overall.

Would of thought its a recipe for mass insurance fraud Maybe that situation wouldn't be possible in the first place though

[Derivative]

The double or multiple claim is illegal. The two or multiple policies aren't.

[J D]

Naaa dont let him have it paddy he was rude about the beast
____________________
m0l0t0v wrote: Chris, just so you know, JD is a nutter

[weasley]

Is there not the other angle to this; if you sell the bike and retain insurance cover for it then the insurance company retain an insurance obligation over something you longer own or have control of? The risk factors are unknown, the address and whereabouts of it are unknown and so on. As far as I can make out this is not illegal but could cause problems if a claim arises against the bike during the time you are still insuring it. Also worth checking the T&Cs carefully to see if any exemption or clause is included about this situation.
____________________
Yamaha XJ600 | Yamaha YZF600R Thundercat | KTM 990 SMT | BMW F900XR TE

[tbourner]

I had the opposite problem with my 125 scooter thing. I sold it but kept the insurance open (I had no bike for that time). Me being the dufus that I am when phoning to say cancel the auto renewal told them I'd sold it a few months ago they said I couldn't have the NCB!
So moral is do it but tell the new owner and the insurance company NOTHING!
____________________
Trev, now a biker?
Looking for first big bike.

[Golgarth]

As soon as you get your proof of no claims (as for a renewal letter ) then your new insurance group will accept that as proof of no claims so you can insure quicker

Then just allow the old policy to run and there are no issues as already stated above

[mogstar]

[Alex A]

[bikertomm]

[Doovy]