Is it OK to be insured twice?
 

Current bike policy expires in a month.
Just bought a second bike. I intend to insure them both on a new policy. I dont need the NCD from the current policy.
Can I just ignore the old policy, leave it to run out, or is it not acceptable to have a bike insured twice?
Old policy will cost more to cancel than the refund value.

Re: Is it OK to be insured twice?
 

I think I was told it was illegal to have 2 policies running at the same time

99% sure

Re: Is it OK to be insured twice?
 

i cant see why its not ok to do that, better than not insuring it

Re: Is it OK to be insured twice?
 

as long as you don't claim on both of them, don't see a problem, i'd let it run out.

Re: Is it OK to be insured twice?
 

Yep. You can insure twice, but you can only claim once. They would sort it out between them in the event of a claim if both policies covered it.

Re: Is it OK to be insured twice?
 

I was told that this was not possible. Reason being that it opened up the possibilty for fraud due to multiple claims on one item. All you gotta do is cancel one, they'll probably pick up an existing policy on your bike when you set up the new one anyway... It's all Internet innit..

Re: Is it OK to be insured twice?
 

I don't know about the legalities, I think you can insure more than once but could only claim from a single insurer should you have to. And that it the issue you could face, both insurance companies saying the other is liable for the pay out.

Having 2 policies could complicate matters and for the cost of cancelling the original policy it may be worth paying the small fee.

Re: Is it OK to be insured twice?
 

Let it run, as it will cost you to end it early, i made this mistake before, cost me £50 to end policy :(.
It wont do any harm, just ingore the old one and say you forgot about it.

Re: Is it OK to be insured twice?
 

i was told if you have 2 insurance polices for the same vehicle your insurance is void also if you sell it and keep your inurance going it also invalidates the inurance of the vehicles new owner as well

Re: Is it OK to be insured twice?
 

Given that insurers now have access to & utilise a single datatbase, won't it show up as already being insured when a second policy is taken out ?