MCE Insurance Being Difficult about Payout?

[WalkerLena]

Had a write-off due to theft and they won't refund the remaining months of my insurance premium because they say that's their policy although I cannot see it in my documents anywhere.

Also, when valuing the bike, they say they don't take into account location - I live in London so it's going to be more costly to replace than other areas. They also say it's irrelevant the bike still had a warranty when doing the valuation.VidMate Mobdro


Do I have any ground to contest?

[MarJay]

Umm...

Ok how do I explain this. If you bought a loaf of bread, and ate the bread, would you have any grounds for a refund because you no longer have a loaf of bread? No.

This is the same with insurance. The premium is what covers the risk of theft or damage to the vehicle. The whole premium, not a part of it. It's also worth noting that when you pay monthly, you're not paying for a month of insurance at a time, you're paying for the premium up front but then taking out a loan to repay it over 12 months. This means if you pay monthly and your bike gets stolen you have to keep paying afterwards. It sucks, but it's how it works.

With regard to the value of the bike, find adverts for bikes of similar age, mileage and condition, and send them over to the claims person. This is the only way to get them to budge on value. If you think that the warranty adds value to the bike, find sales ads on biketrader, ebay, wherever and demonstrate that to MCE.

Don't get me wrong, I can't stand MCE and they have caused me loads of hassle over the years, but how they are behaving is how any insurance company behaves in this situation, and they aren't being especially bad in this case.
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British beauty: Triumph Street Triple R; Loony stroker: KR1S; Track fun: GSXR750 L1; Commuter Missile: GSX-S1000F; Cheap project: CBR900RR FireBlade
Remember kids, bikes aren't like lego. You can't easily take a part from one bike and then fit it to another.

[xX-Alex-Xx]

I assume you pay for it monthly? If so, as mentioned, just because you decided to spread the cost of it over the year instead of paying it all up front doesn't mean they owe you a refund.

You're not paying the insurance month-to-month, you're paying for a YEARLY policy, and taking out what's essentially a loan to spread the cost of it over the year.

As much as insurance companies are right tw@s, MCE are right to not give you a refund.
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DILLIGAF

[Riejufixing]

[spongefinger]

[arry]

[Weisse Schlange]

Every bike policy I have ever had in around 35 yrs of riding states that the remainder is non refundable in the event of a total loss claim.

Can you imagine it, Insurance rats pay out 7k for a bike and biker wants his £90 back for the remaining months.

Never gonna fly dude.

Edit just read the bit where you want more for your bike cause yer a Londoner.

How can I put this ? hahahahahahahahahahahahahaha
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Hing Oan

[Jmoan]

[arry]

[P.addy]

[SirFallalot]