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Insurance Dilemma

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techsnap
Borekit Bruiser



Joined: 02 Jul 2015
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PostPosted: 19:54 - 08 May 2016    Post subject: Insurance Dilemma Reply with quote

Hoping for some tips here to try and avoid getting screwed over too badly with an upcoming insurance 'situation'.

Currently have a 125 Varadero which I'm insured on and riding under CBT. Insurance renewal is due on 12th June. I'm taking Mod 2 test on 22nd June.

So, assuming I pass, I will have to make an amendment to my new policy (ie changing to having a full A licence) 10 days after it started.

Follow that up also with the likelihood that if I pass, I will probably be changing to a 'big bike' before the end of July, so that would be another amendment so if I'm not careful I'm likely to drop £60-80 in amendment fees in the space of a month, not to mention premium increases.

Not sure what to do!

Don't want to SORN and not renew the Vara insurance as I may want it to be insured for taking to dealers to trade-in/private test rides etc.

Any suggestions? Or even tips on insurers that don't rip you off for policy amendment fees and are likely to be happy to change a policy from a 125 to, say, a 650 without problem.

Of course, I might f*ck up Mod 2 and sidestep the whole problem anyway, but lets not be negative!

Cheers
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Wonko The Sane
World Chat Champion



Joined: 20 Jan 2013
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PostPosted: 20:28 - 08 May 2016    Post subject: Reply with quote

it's possible the underwriter of your 125cc policy specialises in 125cc bikes and you'll end up cancelling the policy and starting a new one for the bigger bike.

Bikesure made a note that I'd passed my tests and informed them but didn't' alter the policy as it would have cost me a couple of hundred £!
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They're also on Facebook https://www.facebook.com/pages/Focus-Rider-Training/196832923734251
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JoeDaStudd
Borekit Bruiser



Joined: 01 Oct 2015
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PostPosted: 21:32 - 08 May 2016    Post subject: Reply with quote

Iirc you have 14 days to back out without incurring any fees, so worst comes to worth you should have an out.
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iooi
Super Spammer



Joined: 14 Jan 2007
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PostPosted: 05:19 - 09 May 2016    Post subject: Reply with quote

JoeDaStudd wrote:
Iirc you have 14 days to back out without incurring any fees, so worst comes to worth you should have an out.


Opps....

Go search the correct answer now.



















Quote:
If you've decided you simply don’t want the insurance you have bought, for whatever reason, UK insurance rules give customers a 14-day “cooling-off” period when they buy most kinds of cover.

This means that if you want to end a policy within two weeks of receiving your documentation, you should receive a refund.

You may still have to pay an administration fee, however, and you could be charged for the number of days you were covered for too.

Linky
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arry
Super Spammer



Joined: 03 Jan 2009
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PostPosted: 06:42 - 09 May 2016    Post subject: Reply with quote

Don't buy the cheapest annual policy, buy the policy that's cheapest for the period you need it for. That is to say the one with the lowest cancellation fees.
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