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Cancelling insurance for Autumn months

  • 19-09-2016 11:04am
    #1
    daveyjoe
    Registered Users, Registered Users 2 Posts: 1,464 ✭✭✭


    My bike is going into storage soon. The garage is well locked and alarmed so I'm fairly confident it wont be stolen. Is there any reason why I shouldn't cancel my insurance and repurchase again in late Spring? According to my policy documents I should get 50% of the premium back when I cancel.

    I'm currently with Cornmarket (Adelaide) Insurance.


Comments

  • #2
    GBX
    Registered Users, Registered Users 2 Posts: 12,008 ✭✭✭✭GBX


    Is the garage insured for the bike in storage?


  • #3
    DaveD
    Registered Users, Registered Users 2 Posts: 564 ✭✭✭DaveD


    Whats the bike worth? If it was me, i'd be leaving the insurance as is.

    You'd also lose any NCB you'd started accumulating for this year.


  • #4
    daveyjoe
    Registered Users, Registered Users 2 Posts: 1,464 ✭✭✭daveyjoe


    Bike is worth €3000-4000.

    Basically, my uncle owns a car dealership and he has a workshop for cars there, I store the bike there. I have no idea what the insurance situation is but there are a few classic cars stored in there too. Security is good and the bike will be locked, chained and hidden under a tarp.


  • #5
    Cuddlesworth
    Registered Users, Registered Users 2 Posts: 13,995 ✭✭✭✭Cuddlesworth


    Usually there is a 50% penalty with a lead time(3 months with my car for example). Plus you don't get any no claims bonus for the year, if that matters to you.


  • #6
    galwaytt
    Registered Users, Registered Users 2 Posts: 12,782 ✭✭✭✭galwaytt


    Suspend the policy, don't cancel it. That way you keep earning your NCB and will get some refund as well.

    Ode To The Motorist

    “And my existence, while grotesque and incomprehensible to you, generates funds to the exchequer. You don't want to acknowledge that as truth because, deep down in places you don't talk about at the Green Party, you want me on that road, you need me on that road. We use words like freedom, enjoyment, sport and community. We use these words as the backbone of a life spent instilling those values in our families and loved ones. You use them as a punch line. I have neither the time nor the inclination to explain myself to a man who rises and sleeps under the tax revenue and the very freedom to spend it that I provide, and then questions the manner in which I provide it. I would rather you just said "thank you" and went on your way. Otherwise I suggest you pick up a bus pass and get the ********* ********* off the road” 



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  • #7
    Zascar
    Moderators, Motoring & Transport Moderators, Music Moderators Posts: 12,778 Mod ✭✭✭✭Zascar


    galwaytt wrote: »
    Suspend the policy, don't cancel it. That way you keep earning your NCB and will get some refund as well.
    Good idea, can you do that easily with most companies? For those that put their bike away fro a few months over the winter it might be a good idea - as long as its safe


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