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BeninBristol

Joined:

Jul 11

Posts: 10

BeninBristol says:

Multi-Bike Policy - Is this right?

I had a multi-bike policy with two bikes insured fully comp.

Is it standard practice for an insurer to cancel the whole policy if you claim total loss on just one bike?

 

Thanks

Ben

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  • Posted 3 years ago (08 November 2011 14:04)

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MarcusMarsh

Joined:

Aug 09

Posts: 2707

MarcusMarsh says:

Multi-bike policy

This would certainly be the case with a single-bike policy as the maximum insured risk is the full value of your bike.  Obviously, this does not include any third party liability and most insurers opinion of your bikes 'value' would not agree with ours. 

There is a difference between a two-bike policy and a multi-bike policy so I would check and see what type you actually have.  I suspect that it is a two-bike policy as multi-bike policies for individuals are rare these days.

I have a two-bike policy and I would not be happy if the undertwriter cancelled the remaining coverage because one machine was a total loss and I would argue strongly against it.  It is an interesting question though and I am going to check with my broker to see what the position is on this.  If, by chance, you do have a multi-bike policy then there is no way they should be cancelling the coverage. 

 

[This Reply has been modified by the Author]

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triumphrider600

Joined:

Feb 09

Posts: 550

each

policy/insurer must be diff. Only a few years ago I had a total loss on a single bike policy and LVE continued my policy to term on the replacement machine, without any penalty.

I would as Marcus says and check with the insurer for their terms.

Tom

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bmwgs

Joined:

Mar 10

Posts: 1032

bmwgs says:

.

last year my bike was made a total loss as it was stolen i got the bike back with some money from ebike then just had to get a new mot and new inurance and job done still got the bike

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BeninBristol

Joined:

Jul 11

Posts: 10

BeninBristol says:

Thanks Marcus

It doesn't say anywhere on the policy if it is multi-bike so assume it's probably just a two bike policy (I didn't realise there was a difference).

I also can't find anything in the small print regarding automatic cancellation of a policy with more than one bike on it.

Either way it still seems a bit off to me.  Made slightly worse by the fact that I had only just renewed the policy a week before my accident.  The solicitors appointed by my insurer have not yet settled fault so I've now had to re-insure my one remaining bike with zero NCB and an at fault accident on my history.  Unsurprisingly this has turned out to be very expensive!

All in all a bit of a mess.  I'd advise anyone else with two or more bikes on the same policy to check where they stand in the case of a claim on one bike. 

I will  continue to argue my case with my insurer but do you know where the best place to get independent advice on insurance matters would be?

 

Thanks,

Ben

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MarcusMarsh

Joined:

Aug 09

Posts: 2707

MarcusMarsh says:

Insurance advice

Ben,

It sounds to me as if you may need lagal as well as insurance advice.  Post something in the legal section of this forum and you should get a response from ACIC. 

I don't see why you would be assumed to be nill-NCB and with a fault accident when liability has not been established or the claim settled.  That seems unreasonable to me. 

Check it out with ACIC and I'm sure he will point you in the right direction. 

Good luck!

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BeninBristol

Joined:

Jul 11

Posts: 10

BeninBristol says:

Thanks

For the advice Marcus.  Will give that a go.


Much appreciated. 

Cheers.

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