If I were to die on my bike, would the fully comp insurance still cover my bike? So my wife could have it repaired and give it to the kids to play on?
I know it sounds dramatic, but I've always wondered? Reason being when you get insurance you insure your bike by it's reg, but if someone rides it with no insurance then their not insured so if they crash the bike isn't insured, err go if you don't exist because your dead can your spouse claim on the bike insurance even though their not insured for it?
Everyone's insurance is different, so its really a question for your insurer. Understand the quandary though. I can't see why not. Claiming by proxy would be no different as to if you were rendered into a vegetative state or some other in-capacitative condition. My logic would be that you were alive at the time of the accident (for which the claim would be for)and died as a result. I think most policies terminate after pay out, not after death.
When someone dies, whatever they owned forms their estate. That comprises their money, property, and possessions at death, minus debts and taxes owed; the estate also includes any debts owed to the deceased and any outstanding valid claims. If the deceased owned a bike which was insured, and if that bike has been written off, the claim against the insurer under that policy would form part of the deceased's estate. It would be for the executor or administrator of the estate to pursue the claim and obtain the money from the insurer, and ultimately pass the estate (including the insurance money if any) to the heir(s) - probably the widow and/or children.
JC, you written a will yet ? And if your 5ft 8ins and fat like me can I have your kit please, only after your demise of course.
I agree with Pete. Once the bike is crashed, one has a valid claim against the insurer, which would pass to any heirs one has. What I am not sure about, is whether this can be negotiated and ultimately barred using a clause in the insurance contract.
Indeed. An insurance policy is likely to have various exclusions, and if any of those apply the insurer might refuse to pay out. I very much doubt if there would be a clause excluding pay out if the policy holder has died.
I always thought my policy was a contract between the company and myself which would mean their liability stops as I head through the pearly gates :Angelic: (or elsewhere as the case may be..)? Probably need to read the small print.......as usual.
I'm no legal expert, but I thought that your 'estate' was effectively 'you', until such time as it has been executed?
With the will my missus and I have, there's a thing whereby if we both die in the same accident, whomever took their last breath last is deemed to have lived longer so if it were her, all my stuff goes to her and then her own part of the will is actioned. So, if you trash the bike but stay alive for what can be proven is 1 second or more, insurance still should pay out on the bike as you were alive at the time of the bikes death.
Well it will be easy to prove if my misuses died before me, I'd be the only corpse in the morg with a smile on my chops, on account of the peace and quite after she snuffed it :Happy:
One of my neighbours a few years ago sadly died at the wheel (heart attack) and the car ended up ploughing into the front of a house. Car was repaired as not a total loss and then sold (wife understandably didn't want to have it back), 3rd party damage was all paid for. AFAIK there was no dispute from the insurance company at all, it was dealt with exactly as if he had been alive during the crash.
Must be the case; if we owned a mint Ferrari 250 GTO or something, I think the missus would want insurance to damn we'll pay out the millions it'd be worth.
There are some things which terminate on your death, such as receiving salaries, pensions, benefits, and annuities. But apart from those, most things you receive or are entitled to continue to be received by your estate after your death.
