Motorbike Insurance

[JeniPeni]

My husband paid an annual insurance for his motorbike last year in October. He has now traded this bike in and purchased another. The insurance company are saying that he cannot transfer the insurance to the new bike and nor will they transfer the outstanding 8 months worth of insurance that he paid for upfront to the new bike and will lose this. They are telling him he needs to take out a new policy. Surely this cant be right? If you change your car mid-policy the insurers put the new car on the policy and when your insurance comes up for renewal they adjust the payment then (if paying by monthly Direct Debit). Can you please advise? Thanks.

[Tuvok]

Is there anything in his policy that states this?

[JeniPeni]

He was stung like this by the previous insurer and when he called this insurer last year, they assured him that it wouldn't happen with them! We'll have a look at the policy.

[ToraToraTora]

Never heard of this, surely they must have a way of changing bikes. Are they perhaps saying that they will not cover the new bike at all?? I mean is the new bike say a giant leap in power for example. What's his age/licence state etc?

[JeniPeni]

He has gone from 1200 to 1400 and is 49 - they said they wouldn't give him back or put towards his new insurance from the balance that was left. But now they have contradicted themselves and another rep in the same company says he will get it back (less the admin) - but we're still waiting!

[ToraToraTora]

so are they refusing to cover the new bike?

[lilly1]

I would pay monthly if possible then cancel when you wish to.

[bhg481]

That's a dangerous game to play lilly1. You do not buy insurance monthly, you buy a year's policy with payments spread over a year. If you stop paying the insurance company will cancel the policy. When you come to take out a new policy you will have to answer "yes" to "has any company refused or cancelled a policy"; that will cause problems and, possibly, cost you as well.

[lilly1]

bhg481,What I mean is I would by a yearly policy pay monthly instalments and when I wanted to change vehicle cancel it then buy another one possibly having a refund if any on remaing time to run .then purchasing a new one.