A Good Reason To Cancel Your Insurance When You Sell A Bike

[fixitsan]

That scenario always perplexes me.

The purpose of insurance is to step in at the point when you as the driver, carelessly cause damage to someone else's property, taking up your responsibility to pay reparation.

Reparation must be paid when anyone carelessly or negligently causes loss, damage or injury to anyone or anything (more or less)

 

If the bike is only insured for the policyholder and another rider crashes it then there isn't a valid policy against which a claim can be made, by anyone but the policy holder (as per their contract) . I suppose the 'solicitor's tricks' mentioned in the article are designed to skirt around the issue of policy validity.

 

 

I suppose this is a motivation for insurers, quote "would have been a damn sight cheaper than letting it run and trying to secure another year’s no claims bonus"

 

 

I know of someone who bought a moped to insure and never rode it,to increase his NCB

This post was last modified: 03-09-2021, 11:28 PM by fixitsan.