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Author Topic: Insurance warning  (Read 860 times)

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BazaJT

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Insurance warning
« on: 03 October 2014, 21:55:34 »
Having seen the posts regarding insurance I thought maybe I ought to pass this on that I've just read in PC magazine.A chap sold his motorcycle to another guy but didn't bother to cancel his insurance on it.Anyway buyer didn't insure the bike probably as he was a banned driver who'd not long before been in prison for motoring offences.Subsequently he's binned the bike big style and was killed as a result of the collision.The sellers insurance-still current at the time-has to pick up the tab even though he was no longer the registered keeper.Said company can now chase him up for re-imbursement of all monies paid out.So if you sell your car/van/bike/whatever make sure you cancel your insurance on it straight away,even if the penalties for cancelling outweigh the value of the remaining insurance.
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zirk

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Re: Insurance warning
« Reply #1 on: 03 October 2014, 23:18:08 »
Cant see that happening tbh, part of the conditions of private motor Insurance is the vechile has to be registerded in your name, so unless he gave the bike away without transfering V5 keeper detials hes in the clear. :-\
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Vamps

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Re: Insurance warning
« Reply #2 on: 03 October 2014, 23:35:28 »
Quote from: zirk on 03 October 2014, 23:18:08
Cant see that happening tbh, part of the conditions of private motor Insurance is the vechile has to be registerded in your name, so unless he gave the bike away without transfering V5 keeper detials hes in the clear. :-\

But it did............ ::)
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