!How much to cancel FFS

[Zoton]

Just went to cancel my policy with Kawasaki , was only paying £30 a month, sold the bike, rang em up to cancel, want £122 to cancel the policy including a £50 discount.
Said they would quote for the new bike in march which would then run till the policy terminated in October.
Well I thought that was a bit (insert many expletives) steep.
mini insurance rant over.

 

[KMD]

I get that there may have to be an ‘admin fee’ but crikey, that’s a bit steep

 

[EPG_19]

Just went to cancel my policy with Kawasaki , was only paying £30 a month, sold the bike, rang em up to cancel, want £122 to cancel the policy including a £50 discount.
Said they would quote for the new bike in march which would then run till the policy terminated in October.
Well I thought that was a bit (insert many expletives) steep.
mini insurance rant over.

Tell them you have insured it with someone else by mistake so you are dual covered, cancelation will be free.

 

[Dave56]

Tell them you have insured it with someone else by mistake so you are dual covered, cancelation will be free.

Not too sure about that as Kawasaki insurance would just cross reference on the insurance database and see that wasn’t the case!

 

[Wapping]

As I read it, your policy runs for 12 months October 2023 through to the end of September 2024, for which you pay £30 a month.

You wish to cancel now, which will (for the sake sake of a simplified example) remove payments of eight months ie. February through September inclusive, representing £240.

Of this £240 the insurer is effectively charging you £122. The obvious question is why? Possible answers are:

A. There is or was an explanation of the cancellation provisions of the monthly premium instalment basis policy, given in the blurb at the time of sale.

B. Not unusually, the insurer is charging you what amounts to a ‘short rate’ premium for the four months (October thro’ January) for which they have been on risk. This is not uncommon; you can see it in play when bods buy a month or so policy, so they can ride their friend’s bike. It usually costs more than one twelfth of what would have been the annual premium.

 

[EPG_19]

Not too sure about that as Kawasaki insurance would just cross reference on the insurance database and see that wasn’t the case!

OK don't believe me

 

[Zoton]

Apparently because I was paying monthly that is where the penalty lies. As per my PCP malarkey I live and learn.
will do a change of bike and continue with them until October I guess as apparently my no claims won't add another year until October , which I understand , so if they are reasonable to change the bike insurance to the GS then that's the road ill go down but F**K me.
NB.
Kawasaki insurance is just a broker and will insure any tom dick or GS.

 

[wessie]

Apparently because I was paying monthly that is where the penalty lies. As per my PCP malarkey I live and learn.
will do a change of bike and continue with them until October I guess as apparently my no claims won't add another year until October , which I understand , so if they are reasonable to change the bike insurance to the GS then that's the road ill go down but F**K me.
NB.
Kawasaki insurance is just a broker and will insure any tom dick or GS.

I assume you are aware that if you do not remove the Kawasaki from cover then a third party can claim against you as well as the new owner.

Personally, I would take the financial hit and start again once the new bike arrives in March (probably later of you have ordered a new 1300)

 

[Wapping]

Apparently because I was paying monthly that is where the penalty lies.

As I guessed.

Have you asked for an indication of the premium for your GS in March? If not, see if they will give you one now. They might say that it’s too early. If they do, ask them for a ball park figure, should you buy the bike next week. Why?

The price of insuring GS motorcycles has, for some owners, been going through the roof. If it is a high quote you have got time to shop around, which is the only way to help yourself.

 

[Zoton]

I assume you are aware that if you do not remove the Kawasaki from cover then a third party can claim against you as well as the new owner.

Personally, I would take the financial hit and start again once the new bike arrives in March (probably later of you have ordered a new 1300)

Not looking at the 1300 buying a new GSA - its at 150 so has a build slot.Expected date is 15th March.
I have told them to remove the bike from cover its on hold but still paying for the insurance to be in limbo. It's only £30 for another month so I'll take that.
I have no liability to the H2 according to the rep.