Temporary insurance

[ClunkintheUK]

Not sure If this is the right place for this thread.

I need to get my missus' ybr to get an MOT, but it is not insured. I can't ride it on "ride other bike insurance" on my bike insurance, as its not insured.

Anyone know anything about getting temporary insurance for it. I've googled a few places, but they are charging more for a weeks insurance on a YBR125 third party then I pay a year fully comp on the SV. Or would you get standard insurance, then cancel it?

[L3nny]

Hire a van or trailer to take it to MOT?

[atassiedevil]

you can cancel insurance up to 14 days due to the distance selling thing. It's a pain, but it does work

[ClunkintheUK]

Hiring a van would cost just as much. More even given I would have to drive to pick the van up.

That isn't a bad Idea Atassie

[Sir Trev]

Small word of caution on taking and then cancelling normal insurance very soon after. It is seen as a money laundering red flag. Theory is: scumbag has illegally obtained or "dirty" money, buys something expensive or via distance/phone and cancels soon after for a refund of "clean" money (the fees or charges are seen by the scumbag as part of the cost of conversion). Having just finished a contract in the automotive financial services industry this sort of thing is a key part of the Financial Conduct Authority training courses everyone has to take so the employer can keep their accreditation.

You may get grief come renewal time on your own bike if you do this. Even if they believe your explanation they may still hit you for not using the right product for temporary cover and load your premiums if they believe it makes you a higher risk. I'm not saying you are, but underwriters are a funny breed.

A van, a mate with trade insurance, or a temp insurance product would make more sense to me.

[Red ones]

Why are you getting an MOT if you are not planning to insure it?

[ClunkintheUK]

I'm planning on selling it. Its easier to sell with an MOT.

Thanks for the input Sir Trev, I hadn't thought of that. I've just gone through an irritatingly long process to prove that I haven't been money laundering/committing fraud. I know, I know, you can;t prove a negative, but probably best stay clear of red flags.

[DJ123]

I'd speak to the garage and see if they can pick it up and return it. I guess most would for a small fee.

[Heorot]

How times have changed. In 2002 my partner sold her car for cash (£11750) and asked me to pay it in to her bank account. All went well until I was about to get the receipt when I was asked where the money came from. I said it was from the sale of a car and she just said "Oh, OK" and I then got the receipt and left. I wasn't asked for any proof of the origin of the money.

[ClunkintheUK]

That still works Heorot. Putting £11750 cash straight into a bank account is not very good money laundering. What Sir Trev is talking about is known as layering, The key difference is the source of the money back in is from a "clean" source.

Another way would be to buy stocks or bonds what appears to be under market value, bunging the seller some cash to over market value, then sell them at market value. The source of the funds then appears to be buy low/sell high and therefore clean. the dodgy trader on the other end, uses the cash to go for a night on the town, if it is with clients, even better, they can expense it, and receive it, tax free into their pay check "clean". This is why most city firms give you a company card and tend not to give expenses back on cash bought items.