will I have to pay to cancel my insurance?

RooRoo · Anal Intruder Joined: 04 May 2004 Karma :

When I get a new bike, I want to cancel my CG insurance, will it cost me much to cancel it?

Full Bananas · Renault 5 Driver Joined: 02 Nov 2004 Karma :

Depending on how long is left to run, you should get some sort of refund (less an administration fee). Have you checked if you can just transfer your existing policy to the new bike though? When I moved up from my CG to the GPZ I paid a bit extra and continued with the same policy.
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stinkwheel · Bovine Proctologist Joined: 12 Jul 2004 Karma :

You can usually transfer the balance of your cover and pay the difference between this and your new policy. This presupposes that you are sticking with the same company so I suppose it depends how much is left on your policy.

There is usually a cancellation fee deducted from any refund on cancellation of a policy.
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Steve H · World Chat Champion Joined: 18 Oct 2003 Karma :

Probably, In a lot of cases your insurance is considered a year long contract and cancelling prior to the end of the 12 month period (if that's the length of the insurance) is considered a breach and consequently you're liable for any costs incurred (ie Insururers loss of business/profit).

Most insurers have a cancellation clause detailing the cost of cancellation. If you've paid the full annual amount you can expect a portion of it to be refunded minus their calculated cancellation price.

SteveH
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tatters · Exxon Valdez Joined: 05 Jan 2004 Karma :

CIA insurance would,nt let me cancell the insurance on my old NSR125,had to pay the additonal amount to change the bike on the policy the my new one at the time.
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Past:NRG50,AF1125(x2),NSR125RR,ZZR250,CX500,VFR400,KR1S,ZZR600(x2),CB400N,YZF1000(x2),KH125,Z200,FX400R,CBR954RR(x2)GPZ500S,GT550,VFR750F(x2),RD350N,XR650R,CBR600F,CB250,KDX250,YZF750R,CRM250,400EXC,KLR650,TTR600RE,DR350S,R100GSPD,RGV250,VMAX1200,DL650,KZ750 Present:G650XC,C12,CRF450X,1190ADV

Demonic69 · The Pink Rhino Joined: 31 May 2002 Karma :

For the majority of my bike upgrades I've just paid the difference for the rest of the term. That depends on the under-writer usually though. I also had 3 years NCB in 2 1/2 years because H&R said they would upgrade me to the RF for £17, then changed their minds, so I bollocked them good 'n proper. They ended up saying they'd give me 1 yrs NCB at that point if I took out a full year on the RF with them Very Happy

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RooRoo · Anal Intruder Joined: 04 May 2004 Karma :

bennetts wouldnt let me transfer my insurance from a GS, to an RS125, so im guessing i cant transfer from a cg to a gpz?

instigator · Super Spammer Joined: 19 Oct 2004 Karma :

tatters · Exxon Valdez Joined: 05 Jan 2004 Karma :

and they also don,t allow more than one bike on a policy, and can,t post anythink to save there lives Evil or Very Mad

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Past:NRG50,AF1125(x2),NSR125RR,ZZR250,CX500,VFR400,KR1S,ZZR600(x2),CB400N,YZF1000(x2),KH125,Z200,FX400R,CBR954RR(x2)GPZ500S,GT550,VFR750F(x2),RD350N,XR650R,CBR600F,CB250,KDX250,YZF750R,CRM250,400EXC,KLR650,TTR600RE,DR350S,R100GSPD,RGV250,VMAX1200,DL650,KZ750 Present:G650XC,C12,CRF450X,1190ADV

DynaMight · World Chat Champion Joined: 27 Oct 2004 Karma :

Depends on the broker, Some will let you upgrade but if your going from a 125 > 600 or something you may find the broker your with wont insure you.

When I went from a VFR400 > GSXR750 they wouldnt, Only had a bloody month left and they wouldnt even add the extra years NCB! (even though I had made the final payment)

Insure companies being complete tosspots, I couldnt even leave that policy open because that would mean the new policy would have to be put down as 0NCB.

Money grabbers.
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mr.z · World Chat Champion Joined: 04 Feb 2004 Karma :

Mine will, though if they didn't they would have to refund me the rest...

I think you should pm danny and ask him about insureance Very Happy

/pimp
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Hex · Party Boy Joined: 04 Feb 2002 Karma :

Ian (GPX) · Brolly Dolly Joined: 05 Aug 2003 Karma :

You could ask them to add the GPZ to the policy you have, and then in a few days time ask to have the CG removed from the policy, this is what I did when I first got my GPZ400R (added it to the same policy I had with my NS125R and paid the extra for the GPZ).

I did it this way so I did not lose my NCB.

8316 · Could Be A Chat Bot Joined: 08 Jul 2004 Karma :

click quote give you options of paying a less amount until 9 months of policy is passed. then its full whack and no money back.
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Gingernut · Two Stroke Sniffer Joined: 17 Nov 2004 Karma :

The cancellation fee is typically one months extra payment, i.e. if you had the policy 6 months then you'd only get 5 refunded. Also there is a point at which some companies will refuse to refund, say after 9-10 months in. Having said all that I was able to cancel my car insurance policy with Vauxhall after about 2 months without charge, although this was because it was a renewal rather than a first time policy with that insurer. As always your best bet is to talk it through with the company.