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I've recently read that if you sell your bike you must notify your insurers and cancel the policy ( or change it if you have a new machine ) the reason being that if the new owner is uninsured and has a prang you could be liable and pursued by your insurer if they have to pay .
Many companies seem to have substantial charges for cancelling ( £40 seems common with the cheaper providers ). If for example your yearly premium is £100 and you only have 2 months left (so any refund would be virtually non existent ) could the company charge you more money to cover the cancellation charges ?
apologies if i haven't explained my query well but hope you understand the gist .
Bill
 

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I was in that same position, sold the bike and 5 weeks to run on the policy. You are obliged to inform the insurance company that you have sold the bike and then they have you over a barrel with the 'cancellation' charges. It cost me £35 to cancel with no other option than to pay up on the phone there and then or suffer vague threats of 'being sent a bill' if you don't. I opted for a written letter of cancellation and written statement of entitlement to no claims discount to maximise their costs. The no claims also only stated one year rather than the 4 years I have accrued as they only count the years with themselves. Bonkers and a rip off, needless to say I won't be using HASTINGS DIRECT ever again.

moral of the story: read the small print and it's the cheapest for a reason.

regards
 

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Whatever the reason, cancel your policy immediately. You will be liable if the new owner hasn't insured; irrelevant to what they may say to you.

Let's look at a worst case; not even worst case. You sell a Puch, what damage can that do!!!??

The new owner comes off, car swerves to avoid bike or rider, hits two people, then writes off his car and another. They're newish cars, so initial cost to you £30,000 plus costs.
Two peoples rehabilitation, plus medical costs.... On one died by the way..... £65,000.... at least

Got that spare £100,000 in your bank? Mortgage free property?

This is actually not a worst case.

IF YOU SELL A VEHICLE, CANCEL THE POLICY IMMEDIATELY, WITHOUT FAIL, NO QUESTION, GET IT!!!!
 
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