Insurance changing, things to watch out for

Ok, so this wont be news to some of you, and there's not much I can do as its all in the small print, but a cautionary tale:

So my insurance expiry date on the SV was 8th Dec, and as I sold it in Jan I cancelled the insurance. It was cancelled as my current insurer was not competitive AND I wasnt getting another bike within 30 days ( a requirement to hold over the policy).
Now as far as I thought I was RENEWING my policy. I was not paying a deposit in this case, just continuing with direct debits. The key here as far as I was concerned was RENEWAL.

On cancelling I was told I would have to pay 30% of the total premium and that even tho I had renewed, it was for those purposes a NEW policy. #1

So a bill comes for £100 Seeing as I had paid one installment I wasnt expecting that amount. On querying this I was told this includes a CANCELLATION FEE of £25. So a fee on top of the 30% #2

Of course all of this is in the small print, but if like most of us you have better things to do than study policies to the nth degree etc, beware.

It was Bennetts, btw. But I bet they are all the same. I'll now have to some how waste £100 of their time to get my moneys worth ( Ive already had an overlong phone conversation and asked for a receipt in writing
).

Two other points to be aware of:
1. Cancelling mid term may result in failure to acquire a full years NCB. In other words say you have 1.5 years with an insurer, going to a new insurer may knock that back to 1. I remember jelster mentioned this ages ago.
2. If you change insurer, keep the renewal notice from the previous insurer. I have just been asked for written confirmation of my years NCB by my new insurer. I have no doubt if I couldnt find it that would have cost another £25

So there you go.

Hmm, following none-too-flattering stuff I have read about Bennett's elsewhere, I for one, will not include them if/when I'm lookig for alternative quotations.

Why not try telling them you'll be writing to whoever the ombudsman is. Oh, and I suspect this is Bennett's, not the insurer themselves.

[Spiderman]

Good advice Dr.

been there with car insurance before, not fun is it

Like the way you plan to get your ton's worth out of em tho

try calling em and asking if they can call you back.... on the mobile, then have another extended conversation with em.
Some point in the call ask if they can hold for just a sec....mum/sis/wife on call waiting works well. see how many times you can go back to them and say "sorry just another second" before they hang up.

if you get their name beforehand they will be worried you may call back and complain that they hung up on you
enjoy

Originally Posted by chazzyb

Hmm, following none-too-flattering stuff I have read about Bennett's elsewhere, I for one, will not include them if/when I'm lookig for alternative quotations.

Why not try telling them you'll be writing to whoever the ombudsman is. Oh, and I suspect this is Bennett's, not the insurer themselves.

Yes, I think its Bennets rather than anything. Can't complain its all in the policy (alledgedly, I still cant be bothered to read it ).

But thanks for helping in my campaign of costing Bennetts £100

Trouble is they are mostly the same, my new insurer gets slated too, but it is cheap. At least my eyes are open this time.

never had this crap in all my years of car insuring mind.

I've suffered with losing no claims twice hence only have 4yrs no claims instead of 6yrs...

first when 125 blew up mid policy and 2nd when I upgraded from gpz500 to my sv and the underwriter wouldn't insure my sv...

it sucks but what can you do ?

[Spiderman]

BIGGEST BLOODY SCAM IN THE WORLD THIS INSURANCE MALARKY
Its not like we put up with it cos they do a good job about paying out is it?

I waited 2 & 1/2 yrs to get my £250 excess back from direct line. And i had to sack the first legal firm they used. I knew more about the law than the "junior" they had on my case.

Wasnt even complicated. Girl got out of minicab without looking... door scraped along side of my car. Girl gets out and says "i'm so sorry.. i didnt even look. Heres my address and number if the cabs insurace wont sort it out"
How much easier can it possibly be?
Thank god they dont do bikes cos Direct Line are the most incompetent pr@s going.

Originally Posted by Dr Rich

Two other points to be aware of:
1. Cancelling mid term may result in failure to acquire a full years NCB. In other words say you have 1.5 years with an insurer, going to a new insurer may knock that back to 1. I remember jelster mentioned this ages ago.

This is why i didnt tell my insurance company my bike was a write off, just that i was pursuing compensation privately. I knew that once i'd got compensation and bought a new bike i could change bikes on the policy and when it came to renewal time keep the NCB.

[timwilky]

Bit unfair on Bennetts me thinks. For me. I questioned why I had no NCB as my off had been the 3rd parties fault and they had settled admitting full liability.

I will have to talk to the underwriter says the Bennetts girl (Last I have heard of that thinks me) an hour later she phones back. My NCB is instated and cost goes from £430FC to £360. And when paper work arrives it is only £163. I could not find anyone capable of beating that. So happy with Bennetts

Originally Posted by timwilky

Bit unfair on Bennetts me thinks.

Um.... no.

Seriously I did say I expect they are all the same. And Id rather I had my £100

I think that this applies to all insurers, take my recent case.............

My current policy on the SV is due for renewal in October 2005, I am now changing the SV for an Aprilia Falco. Ring up insurer to confirm change to policy, there obviously is a surplus premium to pay, this additional premium is £1360......... just for an additional 8 months, I only paid £250 for a whole year! Ring round various brokers and the premium comes down to £660, then £550 and eventually down to £357 for a full year. Get the details and discover that the underwriter is Equity Red Star, check current policy..........and the underwriter is...........Equity Red Star! So to change up my current policy is £1300 for the remaining term, or cancel current policy and start new policy with same insurer, but different broker, for just £357!

The whole insurance thing is a con!