Insurance premium owing after a write off...

[rosie631]

Have been through the fine print on my policy. Seems if i buy a new bike they will credit the premiums to that. So that's fair enough.

[James Deuce]

See, they're not total bastards after all.

[davebullet]

See, they're not total bastards after all.

Correct, we're more like just bastards with a little b.

[FJRider]

Have been through the fine print on my policy. Seems if i buy a new bike they will credit the premiums to that. So that's fair enough.

Just watch for increase in excess ....

[rosie631]

Just watch for increase in excess ....

Yep, expecting that. No more no claims bonus. Bugger

[FJRider]

Yep, expecting that. No more no claims bonus. Bugger

I just hope NO MORE CLAIMS ...

[Suzi Q]

My experience is as Rosie says. Upon write-off the insurance is cancelled and you get a refund, or stop monthly payments.

If you cancel the insurance because you have soldthe bike you get the refund. if the insurance company cancels the policy because of a write off they do not give a refund. effectively your policy has paid you outin full, you have used the wholeof your policy, so you do not get the refund. The policy wording will state that in the event of a write off there will be no refund of premiums. think of this, has the premiums you have paid for this bike, to this point been enough to replace your bike?

[p.dath]

Really? I stand corrected then. For some reason I thought I remembered getting a refund once but must have dreamt it. Thanks for info.
What about registration? If you are registered for 12 months and bike written off after 6 do you get the other 6months refunded, or can you transfer it to the new bike, or just tough shit??

Don't forget on write off the insurance copany owns the bike, and as a result, and potentiakl credit.

[mowgli]

Don't forget on write off the insurance copany owns the bike, and as a result, and potentiakl credit.

Until it expires....

Be very careful here. If the bike is written off then it must either be de-registered or transferred into their ownership. If they do nothing then eventually you, as the registered owner, will be sent a rego renewal. You'll naturally ignore it because you don't own that bike any more. Later on the wreck is sold with the rego intact and the new owner lodges a change of ownership. Then you get sent a bill for the outstanding rego since expiry. Of course I'm making this up and it never happened to me, tui anyone?

If your bike is written off call NZTA (or whatever their name is now) and confirm that it is no longer in your name. Don't assume the insurer has done it.

[rosie631]

If your bike is written off call NZTA (or whatever their name is now) and confirm that it is no longer in your name. Don't assume the insurer has done it.

Thanks for that mate. Probably would have just assumed they did it, but will follow it up.

[MSTRS:Me]

The only time I've ever been involved in a write-off situation, the Ins Co asked me to deregister the bike and send them the proof, they sent a cheque for the value of the bike, and then sold me back the bike for fuckall. The 'unused' premium was refunded...mind you, the cover was third party and the accident was the other's fault. The bike and pertinent paperwork never actually left my possession, so twas easy to re-comply once I'd fixed it.
Sometime down the track, a renewal notice was sent, under the original number plate. It appeared as if the policy was never cancelled. Sucks to be them, cos they (you guessed it) refunded the unused premium...
Who was I to argue?

[crazyhorse]

......What about registration?

Yeah, unfortunately this is your loss too - had that experience with my son, and he had only just registered his vehicle for a year.