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Short Term Insurance....

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Stevie B
Crazy Courier



Joined: 22 Apr 2005
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PostPosted: 23:53 - 24 May 2005    Post subject: Short Term Insurance.... Reply with quote

Im looking to sell my NSR in the next month or so and get a relatively cheap VFR400 or something similar to use for the summer then sell it before i go to Uni.
Therefore i will only need insurance on it for 1-2 months but i assume ins. comps won't let me do this so would the best thing be to take out a years cover paying monthly then just cancel after 1 or 2 months?
Will this always mean losing deposits or do some ins. comps not demand deposits?
Has anyone done this before?

Info would be much appreciated...

Thanks

Steve
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G
The Voice of Reason



Joined: 02 Feb 2002
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PostPosted: 00:08 - 25 May 2005    Post subject: Re: Short Term Insurance.... Reply with quote

You pay for the whole amount of insurance and get a refund; which will be substantially less pro rata than what you paid.

If you are paying monthly you are actually paying off a loan. You will have to pay off the total amount, then be given your 'refund'.

Some insurance companies charge less for changing policy, so might be worth looking at.
MCE wasn't too much to get my RD350 changed to a DR600.
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kawakid
World Chat Champion



Joined: 15 Mar 2005
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PostPosted: 01:32 - 25 May 2005    Post subject: Re: Short Term Insurance.... Reply with quote

G wrote:
You pay for the whole amount of insurance and get a refund; which will be substantially less pro rata than what you paid.

If you are paying monthly you are actually paying off a loan. You will have to pay off the total amount, then be given your 'refund'.

Some insurance companies charge less for changing policy, so might be worth looking at.
MCE wasn't too much to get my RD350 changed to a DR600.


When i've cancelled car policys this has not applied. I've simply told them and cancelled the direct debit. I did this after working for a year (year out from uni) and then getting rid.

This is the main benefit of monthly even though it is more expensive.
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epz
Scooby Slapper



Joined: 26 Apr 2005
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PostPosted: 01:47 - 25 May 2005    Post subject: Reply with quote

www.ebikeinsurance.co.uk

i belive they let you chop and change your bike month to month, they were cheap to me but i think its relative to your location
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Itchy
Super Spammer



Joined: 07 Apr 2005
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PostPosted: 09:22 - 25 May 2005    Post subject: Re: Short Term Insurance.... Reply with quote

boyle7474 wrote:
Im looking to sell my NSR in the next month or so and get a relatively cheap VFR400 or something similar to use for the summer then sell it before i go to Uni.
Therefore i will only need insurance on it for 1-2 months but i assume ins. comps won't let me do this so would the best thing be to take out a years cover paying monthly then just cancel after 1 or 2 months?
Will this always mean losing deposits or do some ins. comps not demand deposits?
Has anyone done this before?

Info would be much appreciated...

Thanks

Steve


but watch out for what G says , some insurance companies have clauses in them so that if you cancel you pay a big chunk of cash some are much much bigger than ohters , mine has a £20 admin fee if you cancel it before it ends , some have even bigger admin fees of £50-60.
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tintin
Traffic Copper



Joined: 23 Jun 2004
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PostPosted: 10:04 - 25 May 2005    Post subject: Reply with quote

Ring them up and ask what they will do for you. I bought my wife a new car and had to insure before we went on holiday for 2 weeks, they also insured the old car by the month until I sold it. You paid £10 to set it up and about £18 per month until you told them to stop, they even credited individual days back as soon as you sent the old certificate back.

This was with Kwik Fit insurance, who will often give you a discount if you haggle on the phone...
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Stevie B
Crazy Courier



Joined: 22 Apr 2005
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PostPosted: 18:44 - 25 May 2005    Post subject: Reply with quote

Ok thats cool. Il make a few phone calls and see what i can sort out.

Thanks for your help everyone,appreciate it.

Steve
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