andy44:

Thanks for the reply,

So what happens if the bike is found next week? Because of the huge excess + premium + low valuation the underwriter will most like make a profit rather than a loss, let alone "total loss"

Is it also right that I should lose 2 years no-claims?

Once the Insurers have paid you for the bike and you have cashed this, the bike then becomes the property of the Insurers. So if it is found, the Insurers will have to decide what to do. They may approach you asking whether you want it back. Talk to your Insurers about this and register your interest should the bike ever be found in a roadworthy condition.

If you have a claim on the policy and the Insurers cannot recover any outlay they make, then yes you lose 2 years no claims.

Thanks for the reply,

So what happens if the bike is found next week? Because of the huge excess + premium + low valuation the underwriter will most like make a profit rather than a loss, let alone "total loss"

Is it also right that I should lose 2 years no-claims?

Under most annual Insurance policies once you have had a payout for a write off/total loss the Insurers have met their obligations per the Insurance contract. It will say in your policy details what the Insurers would do in the circumstances you have found yourself in.

If you were paying monthly, they would have deducted the remaining monthly payments from the settlement amount. They didn't need to do this, as you had paid in full.

You have a legitimate complaint to make to MCE about the quality of their communications. This should have all been advised to you at the point you registered the claim with them. I always find that it is best to be totally up front with people, so they don't feel let down later on.

In regard to the underwriters refusing to provide cover anymore I would suggest you check the reasons for this. When you arrange future cover, you are always asked whether you have been refused Insurance, so you need to know why.

A question about motorbike insurance. (or any motor insurance really)

Back in august I renewed my policy with MCE to cover my Kawasaki Z1000 for fully comp.

In mid September some %^&4 £$%”! stole my pride and joy so I had to make a claim.

A price was agreed as to the value of the bike and this week I should be getting my cheque minus the £650 excess!

(btw I should point that I’m in my 40’s with a good driving record and 3 years no claims for bikes but I do live in London)

Anyway, as I’m expecting my cheque this week I’ve started looking for bikes in my price range so I can get back on the road again. I found a bike yesterday so phoned MCE to ask how much I would need to add to my premium as I believed the bike I was looking at was a group higher than the one that was stolen.

Now I was expecting them to say something along the lines of, “yes that’s fine that will be an additional £xx.xx how would you like to pay?”. Imagine my horror when I was told that the policy had been cancelled because the bike had been stolen. What do you mean cancelled/stopped I paid for a YEARS COVER up front!

This can’t be legal surely?

I asked what would have happened if I was paying monthly and then just stopped paying?

"they would take the money owed, along with the excess off of the cheque before they send it”

So basically I’ve mugged twice. Once by pond life that stole my bike in the first place and again by the insurance company.

I’m down about £900 on the value of the bike to start with, (extras bought for it the past two years).

Then the £650 excess.

10/12 months of insurance that I paid for.

The theft means they will also take 2 of my 3 years no claims off of me.

Plus the £15 a day and extra 1hr 30mins a day extra travelling time for the month I’ve had to travel by train whilst waiting for cheque.

Thank god I didn’t borrow a colleagues’ motorbike in the mean time believing that my fully comp insurance would have covered me 3^rd party on his vehicle!What if I had knocked somebody over I would have been paying out for the rest of my life!

Nobody at work has ever heard of such a thing. In fact the bosses daughters car got stolen two months ago they bought her a replacement but it was a 1.2 and the stolen one was a 1.1 so they had to pay an extra £82. This is "normal" and what I expected to happen in my case.

Oh and to add insult to injury the under writer that MCE used in this case has refused to insure me anymore lol

And “they” wonder why people drive/ride around with no insurance. I’ve got a good mind to join them, doing the right thing is a waste of time and money as far as I can see.