Beware timing of cancelling insurance

More insurance shenanigans.

Been insured with Bennett's since getting SV, on anniversary renewed the policy with them, still underwritten by NU, carried on installments. Rang to cancel. Guess what....may have to pay a minimum of 30% of premium. So it means there can be a penalty as if its new insurance even if you have just RENEWED.

My insurance isnt so much so its no big deal, but beware.

Im going to need to change my insurance for the new bike and cancel my current policy, which runs until May. I've already paid for the year's cover in full so does anyone know if i can get a refund for the period between now and may?

I just changed the bike in the policy.. cost 35quid..

Originally Posted by Grinch

I just changed the bike in the policy.. cost 35quid..

BMW insurance for me is substantially cheaper and has a much much lower excess and better included stuff, otherwise would have Danny. This probably also applies to anyone doing one of these cheap Honda or Yamaha deals etc.

Oh well.. such is the way with insurance companies.... though how long was it you had the policy?

varies depending on underwriter....

when i changed from gpz to sv had to scrap 9 months of a 12 month policy as underwriter I was with wouldn't insure the sv.. wasn't happy to say the least... The was bennetts too think underwriter was NU..

Wish i'd just left the gpz insurance in place and taken out 2nd policy but too late after i'd already told them bike was sold

bloomin insurance companies

Originally Posted by Grinch

Oh well.. such is the way with insurance companies.... though how long was it you had the policy?

In my mind as it was a renemal just over 14 months. In their mind just over 2 months...

Originally Posted by Grinch

I just changed the bike in the policy.. cost 35quid..

That's what I did, but it cost me a bit more than that

[northwind]

Originally Posted by mrbizzy

Im going to need to change my insurance for the new bike and cancel my current policy, which runs until May. I've already paid for the year's cover in full so does anyone know if i can get a refund for the period between now and may?

If you reinsure with teh same company they may well offer you a better refund than if you go elsewhere... Worth checking that.

Originally Posted by Dr Rich

More insurance shenanigans.

Been insured with Bennett's since getting SV, on anniversary renewed the policy with them, still underwritten by NU, carried on installments. Rang to cancel. Guess what....may have to pay a minimum of 30% of premium. So it means there can be a penalty as if its new insurance even if you have just RENEWED.

My insurance isnt so much so its no big deal, but beware.

Blimey, I wonder if that's NU or Bennett's? My money is on Bennett's. I ask my car broker to do things now and again, and unless it's substituting another car, they usually do it for free. They issued me with a green card and bail bond certificate for driving in Spain last summer - no charge. I have read of some insurers, possibly the direct channels, charging a fee for any change made.