Avoid insurance cancellation fee

[Donbot]

I've recently bought a new motorbike and need to use my NCD on the new policy. A multi-bike policy is expensive, but cancelling my existing insurance costs £50. I have two months left worth £13, so if I cancel I will owe them £37, which almost half what the policy cost for the whole year.

Is is risky to use my no-claims on the new bike and just let the insurance lapse on the old one?

I know it is only £37, but it seems like a piss take to charge me for removing any potential claims I may have to make.

Thanks

[cuprabob]

I've got round the cancellation fee by having them suspend the policy amd then let it lapse. They even gave a pro-rata refund for the suspension period.

Not sure how it woukd work with NCD though as I was selling the car and was not wishing to.use the NCD on another policy.

I have let a motorcycle policy lapse but it was a private plate so no risk of anyone else claiming as I took the plate off the bike.

[Donbot]

Thanks. I'll look into it. I can keep hold of the bike till the policy expires, so I don't need to worry about a claim being made on the old one.

[TwigtheWonderkid]

They will often waive the fee if they refuse to insure you following a change in risk, rather than you wanting to cancel. Call them up and tell them to process a change to a £20K Laverda Jota and that you've moved to London W1 and you're now working as a dispatch rider. They will hopefully tell you to fk off and cancel your policy without a penalty.

[Donbot]

I would but I've been calling them all day and they keep saying to call back in a couple hours because they are busy! I pick the bike up tomorrow morning so time is running out.