Sold my off roader yesterday so contacted Hastings bike insurance to cancel my policy. When I eventually got through the woman I spoke to was helpful enough until she told me that although I'd paid in full in March because I'd been insured for over 6 months I wasn't entitled to a refund. Obviously I asked her why and this is where it all went very wrong. The woman was obviously reading from a script or more likely a computer screen but just didn't understand what she was reading. I obviously didn't get what justified the underwriters keeping my money so kept asking her to explain, apparently it's a percent of use formula used by the underwritters. So I eventually gave up and told her I'd let it go only to be told that there would be a £35 admin fee to cancel my policy. You what? Long story short I flatly refused to pay anything and told her to send me a bill and I'll be seeking legal advice. Robbing bastards.
If you let the policy run and the new owner kills someone, your insurer is made liable even if there is a new policy on the bike once sold. Your insurer will then come to you for not notifying and cancelling the policy and you can loose everything including your house.
The way that insurance companies write themselves cheques using our money wouldn't be quite so bad if we as consumers had any real options but we don't. Motor insurance practices are protected by law - you cannot legally op out of using their "services"- and they are also permitted to break laws that should protect us. I'm thinking specifically of anti-trust laws and related competition legislation. It's a racket, with Government complicity.
When I got three points on my licence I rang them and told them . They adde £18 to my cost . When the said three points came off my licence I rang them and told them I now had a clean licence and I wanted my £18 back . Still waiting .
I remember ringing the insurance people when I picked up three points. They said they will charge me £40. I explained at length that, "No, it's OK, I had already received a £100 fine from the Safer Roads Partnership, there was no need for another one", but they wouldn't listen.
I had a Honda 954 insured with Hastings for 31 days, I then decided to buy an 899. I telephoned Hasting to amend the policy and I was told - Sorry we can not insure you as you have not owned the bike for a year, therefore you are not use to the way the bike rides/handles! My only option was to cancel the policy. I was refunded approx 35-40% of the policy after being hit with the £35 admin fee. To add insult to injury I received a note from Hasting to say - Sorry YOU cancelled your policy with us is there anything we could have done better. Please complete this survey!
Ok...If the same company is Hastings Direct then I have this story. They paid out £13200 for a 2yr old Pikes Peak in immaculate condition with 13K on the clock last month (took around 3 months to process the claim, it could have been 2 months if the bike was collected quicker). To be fair I could replace the bike "Like for Like" without dipping into my pocket.
Insurers are much like bookies. You pay them some cash now, and they might pay you out more cash at a later date but only under rather unlikely circumstances. You might even get some of your stake/premium back - but don't bank on it. If you buy cover for 12 months, that is the deal and the contract you have signed up to. It's like renting a house or a car for 12 months under contract. Then you change your mind and want to be allowed to resile from the commitment you have made and end the rental contract early. Well, you might be let off some of the 12 months, but don't expect to get much of the rent back.
Can I suggest that people try to work with a good local broker, pop in and see them, build up a relationship. Insure your house, car, bike, bicycle, dog, holiday, caravan or whatever with them. It may cost you a little more than the cheapest internet quote , it may not, I`m currently saving money this way. When the time comes to make some changes or deal with a claim you will at least be dealing with someone you have dealt with before . You are more likely to get better advice and less likely to have excessive charges.
Used the same broker for nearly 30 years and all bar one of my claims have been handled through them. Only time I used a "claims specialist" their solicitor refused to support my claim when I was struck from behind at a junction. Got my money in the end by brinkmanship and waiting until the day before it went to court. Andy
To be fair to the poster @Exige ...this actually happened and was widely reported in both the National press. Its a hard to believe story, but true.
Was that the National Press that carried the story that you can get pregnant sitting on a toilet seat and that Elvis works in the local chip shop. Your insurance contract ceases when you are no longer the registered keeper /owner of your bike. It is you that is insured not the vehicle unlike some other countries.
Want to review that statement? I sold my bike but didn't cancel my insurance - White Dalton Motorcycle SolicitorsWhite Dalton Motorcycle Solicitors
The story about your policy being valid even when you have sold the bike is correct. Even if the bike is stolen, if you haven't cancelled the policy then your insurance can be claimed against by anyone the thief injures. Sounds nonsense? I just got a multimillion liability claim (work, not motor) agreed so I know a bit about insurance...
So if someone , thief , was to steal your car drive it at breakneck speed through town and crash into a bus shelter full of school kids killing ten of them and himself your insurance would have to pick ip the bill . No wonder this country is fucked up.
