Why it's vital to cancel insurance when you flog a vehicle

[Freddyfruitba...]

It's often pointed out on here that it's really important to do this (even if the admin fee exceeds any refund), because otherwise if the purchaser fails to take out insurance and has an accident, then your insurance company will be obliged to pay out and they will come after you for that money because you've broken the T&C's of your policy.

I've never come across an instance of that actually happening, so was quite interested to read of a case on White Dalton's blog just now:
https://www.whitedalton.co.uk/motorbike-blog/2021/09/not-exactly-a-bonus/?

Ouch.
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KC100->CB100N->CB250RS--------->DL650AL2->R1200RS->R1250RS

[MCN]

If some kunt/s steals some other kunt's car and rams it into your car you might get the whole bill for it if the kunt who was the keeper/owner of the stolen car had no insurance on it.


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Disclaimer: The comments above may be predicted text and not necessarily the opinion of MCN.

[Bhud]

Some good information there.

I tried to cancel an insurance policy recently that had a couple of months left to run out. The (Carole Nash) guy on the phone seemed to imply that they had no way of doing this, and he told me I should just sit and wait it out as the policy would expire anyway. I insisted, was put through to 3 different drones (typical insurance call centre stuff), and eventually got the policy cancelled. Then they sent me the wrong paperwork to confirm cancellation. I got that corrected, etc. Absolute mess. But important to go through it, as a precaution.

[Nobby the Bastard]

This is old news. I've never yet heard of a case whereby he insurance company has tried to recoup the costs from the insured person in any situation where they hadn't told the truth to gain insurance or failed to disclose a relevant fact after the event and the insurance are mightily pissed with the judgement in the first place.

In addition MIB would have had to pay out anyway without this judgement a d the are financed by...... insurance companies......
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[xX-Alex-Xx]

It's a good idea to not just hand over the V5 as well, but actually get a bill of sale drawn up that says as of x date/time, the new owner is responsible for it and not you (make sure you've got their DL number and check the address matches what they've written too). At least then if they blast through a load of speed cameras or it all falls to bits on the way home, you've got some fallback.
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DILLIGAF

[Pete.]

[Freddyfruitba...]

[matelot]

Also referenced on this 44Teeth video at about 16:40

https://www.youtube.com/watch?v=IBa0h3frVdo

[PotatoHead202...]

That's what happens when you're a fucking idiot and don't cancel the insurance on the sold vehicle. Like seriously how fucking dim do you need to be?
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Honda VFR1200F, Honda CBF500 ABS, CZ125 now CZ175

[Nobby the Bastard]

Maybe because retaining the NCB was worth more than the refund?
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trevor saxe-coburg-gotha:"Remember this simple rule - scooters are for men who like to feel the breeze on their huge, flapping cunt lips."
Sprint ST 1050

[Vracktal]

Solution is to always have more than one bike on a policy via multi-vehicle, that way when you sell one you get it removed but continue the plicy on the other one to maintain the full years NCB. The second bike doesn't even need to work and if it's shit enough it barely adds anything to your premium.

If you have the space and the means I highly recommend it.
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2007 BMW R1200R: On road
2009 BMW G650X Challenge: On road
1975 Norton Commando 850: Off road, awaiting recommissioning

[bacon]

When I sold my MT09 and for the first time ever was left without a bike, I called my insurer and they put the policy on hold for me, still earning NCB, no refund of course and no bike attached to the policy.

Then when I bought the VFR800fi 10days later I simply called them up and had the VFR added, usual policy amendment fee/refund for cheaper bike etc.

No bother.