ChatterBank2 mins ago
Motorbike Insurance
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.
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For more on marking an answer as the "Best Answer", please visit our FAQ.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.