Cancel Insurance?

[Misc]

My insurance from my accident is still being sorted out as they still don't know who is too blame, but they sent me a cheque a few weeks ago for some reason. Now, my insurance insn't cheap & i pay monthly with bennetts.

I was insured on the bike wich i sold but the insurance says i still have to pay every month until it is resolved (Knowing insurance could be ages) What happens if i was too cancel the debit from my bank? Because i don't really want to be paying them if i don't have the bike anymore.

Thanks.

[dave1rs]

you have to pay them till you have paid the full premium for the year,crap but its the law.

[Ste]

Cancelling the direct debit isn't going to change the finance owed, missing payments will work out more expensive so there'd be nothing gained by cancelling it.

[Misc]

So they send me a cheque for my loss of bike, & what i'm doing now is paying them back?

[G]

You basically took out a loan to pay for the insurance.

You are paying off that loan.
This is seperate to the insurance you have.

Are you sure the cheque isn't to cover the cancled insurance - now as you have a monthly policy, you may have to use that to pay off the finance for the cover.

[Misc]

The letter the cheque came in said it was for the bike.

But i just spoke with insurance & they said it will be cancelled when liability is sorted out, which as we all know could be ages.