I'm halfway through a policy that cost £149 for the year, it's a 125, I've owned and ridden motorcycles for 34 years and never had an accident other than when a cop stepped off the pavement without looking.. and I hit him.
It's time for a new bike and I'm moving house so the bike has been donated to a friend. I will buy a new one once settled in.
I phoned Swinton to let them know the policy can be cancelled and what do I get? First they attempt to convince me I should cancel when I get my new bike, well I don't know when or what that is so they are out of luck.
Then they say "Let me calculate that and let you know how much it will be." My assumption it was the refund was wrong, it was the amount I would have to pay.
Of course this is ridiculous but apparently, in the small print of the policy I agreed to this "and there's nothing you can do, you must pay and if you don't and the current rider has an accident you can be liable."
"Yes, furthermore if the police check the bike and find two policies on the bike you may be in trouble."
It sounded very much like blackmail so rather than give the bike away I am tempted to drive it to the local scrapyard, although in good working condition it is old, but this hardly supports the second highest requirement in the governments Waste Hierarchy which is Reuse.
In these times of austerity it annoys me that insurance companies rely on underhand methods to line their fat bank accounts with other peoples money.
I will happily pay a higher price for insurance next time to avoid being swindled by Swinton.
For the past 30 years cancelling a policy meant a refund but now it means a cancellation fee. Smells like unnecessary greed to me.
Does anyone know of an ethical insurance company that behaves in a manner befitting a community service rather than one designed to hike the pay of fat cats?