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J@mes
Member Since: 10 Nov 2008
Location: Bomber County
Posts: 4547
  
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"forgot to cancel his insurance"??
My  , he kept the policy going in order to collect the NCB at the end of it.
and
“I have never broken the law. I don’t even have as much as a speeding ticket"
Yeh ok mate, owned a zx10r, one of the fastest production bikes on the planet but never broken the law 
The asset (bike) was covered by an insurance policy in his name, which is now required to pay out.
unlucky  2014 D4 XS
2005 D3 SE - Gone
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 2nd Sep 2014 11:56 am |
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Grunders
Member Since: 30 Apr 2011
Location: Manchester
Posts: 2329
 
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How many of us keep policies going when they sell something, i've just sold my Z4, which i have let the policy continue, i have 2 policies, one for my every day car and a second for my toy,
I'll certainly think about cancelling the policy or suspending it until i get a new toy..... If it ain't broke... Take it apart anyway, how else you gonna find out how it works
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| 2nd Sep 2014 12:06 pm |
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DG
Site Moderator
Member Since: 12 Dec 2005
Location: The Gaff
Posts: 50978
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This is called "cascade" under EU law the insurance liability falls back to a live unlapsed policy and your insurer can legitimately claim from you the policyholder. Suffice to say cancel immediately you sell on 21 year LR veteran > D2 GS 2003 > D3 S 2006 > D3 HSE 2009 > D4 HSE 2013 > D4 HSE 2015 > D5 HSE 2018 > DS HSE R-Dynamic P300e 2021
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| 2nd Sep 2014 12:30 pm |
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J@mes
Member Since: 10 Nov 2008
Location: Bomber County
Posts: 4547
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Grunders wrote:
I'll certainly think about cancelling the policy or suspending it until i get a new toy.....
I wouldn't be thinking about it, I'd be on the phone now before the new owner crashes through a bus stop and leaves you with the £M compo claim. 2014 D4 XS
2005 D3 SE - Gone
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| 2nd Sep 2014 1:17 pm |
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DG
Site Moderator
Member Since: 12 Dec 2005
Location: The Gaff
Posts: 50978
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In order to demonstrate your due diligence, it's also worth taking a copy of \ having confirmation of the purchasers insurance before they leave with the vehicle.  21 year LR veteran > D2 GS 2003 > D3 S 2006 > D3 HSE 2009 > D4 HSE 2013 > D4 HSE 2015 > D5 HSE 2018 > DS HSE R-Dynamic P300e 2021
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| 2nd Sep 2014 1:22 pm |
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Grunders
Member Since: 30 Apr 2011
Location: Manchester
Posts: 2329
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J@mes wrote:Grunders wrote:
I'll certainly think about cancelling the policy or suspending it until i get a new toy.....
I wouldn't be thinking about it, I'd be on the phone now before the new owner crashes through a bus stop and leaves you with the £M compo claim.
Just phoned the insurance, i had 2 options, cancel it with 30 day notice, which meant if i buy another toy within 30 days i can do a change of vehicle, or second choice, cancel as of today..... Took the second choice and came away with a bit of cash..... If it ain't broke... Take it apart anyway, how else you gonna find out how it works
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| 2nd Sep 2014 3:32 pm |
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lespes
Member Since: 17 Sep 2009
Location: Sitting Down
Posts: 2232
 
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So every other failure to notify your insurance company a change in circumstances invalidates a policy, but this extends its cover  sake  D4 Landmark MY16 Santorini Black THE LAST
D4 HSE MY12 Marmais Teal: Gone. Missed a lot!
Freelander 2 SD HSE MY11 Silver:Thankfully gone.
D4 HSE MY11 Silver: Gone missed !
Range Rover Sport MY06 HSE Buck Blue: Gone missed!
Discovery D2 TD5 Facelift MY Red Gone Missed!
Discovery D2 TD5 Cobalt Blue: Gone Missed!
Discovery D1 Auto Oxford Blue Not missed at all!
Discovery D1 Avalon Blue First LR! missed!
Now demoted to a VW
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| 2nd Sep 2014 9:03 pm |
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Dave T
Member Since: 03 Jul 2009
Location: Glasgow
Posts: 6910
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they seem to have the cards stacked in their favour really don't they Joined the BMWX5 45e group
1994 Defender 90
2015 RRS Corris Grey/Black roof
2016 D4 Graphite Santorini Black
2012 D4 XS Orkney Grey
2005 D3 S Maya Gold
Convoy for Heroes 2011
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| 3rd Sep 2014 5:55 am |
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lespes
Member Since: 17 Sep 2009
Location: Sitting Down
Posts: 2232
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Just thinking.
Car gets stolen, thief crashes it causing third party damage, insurance pays out and then claims off you?? D4 Landmark MY16 Santorini Black THE LAST
D4 HSE MY12 Marmais Teal: Gone. Missed a lot!
Freelander 2 SD HSE MY11 Silver:Thankfully gone.
D4 HSE MY11 Silver: Gone missed !
Range Rover Sport MY06 HSE Buck Blue: Gone missed!
Discovery D2 TD5 Facelift MY Red Gone Missed!
Discovery D2 TD5 Cobalt Blue: Gone Missed!
Discovery D1 Auto Oxford Blue Not missed at all!
Discovery D1 Avalon Blue First LR! missed!
Now demoted to a VW
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| 3rd Sep 2014 3:38 pm |
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Landybandy
Member Since: 10 Jul 2013
Location: Neath
Posts: 181
 
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No because you did not give the thief permission to drive the vehicle.
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| 3rd Sep 2014 7:51 pm |
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DG
Site Moderator
Member Since: 12 Dec 2005
Location: The Gaff
Posts: 50978
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A thief would never be given permission though eh  Your insurer will be liable 21 year LR veteran > D2 GS 2003 > D3 S 2006 > D3 HSE 2009 > D4 HSE 2013 > D4 HSE 2015 > D5 HSE 2018 > DS HSE R-Dynamic P300e 2021
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| 3rd Sep 2014 9:15 pm |
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lespes
Member Since: 17 Sep 2009
Location: Sitting Down
Posts: 2232
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So the guy in this story gave his permission for his buyer to drive,crash, die, without the need for a current driving license.
As always with this stories one is often left with a feeling not all the facts are known or being made available. My thoughts are now this; lets say everything is correct through the "cascading" effect it would strongly likely that though the person could be liable to the insurance company, he would have right of claim to the dead mans estate for his costs.
I bought a stolen car years ago, long strange story, but my innocence in the whole matter rested on whether I had paid a decent and fair price for the car. I had (probably a little over the top) with a signed receipt and found a copy of newspaper with ad in.
After the police seized and impounded it for 3 months a court had to decide on ownership. Was told if the insurance company had paid out the claim then it would be returned to me, if not would be returned to the original owner, though not the person I had purchased it off.
As it turned out I had the car returned to me. If it had gone the other way, car returned to original owner I would of then had to claim off the seller in a separate court action. D4 Landmark MY16 Santorini Black THE LAST
D4 HSE MY12 Marmais Teal: Gone. Missed a lot!
Freelander 2 SD HSE MY11 Silver:Thankfully gone.
D4 HSE MY11 Silver: Gone missed !
Range Rover Sport MY06 HSE Buck Blue: Gone missed!
Discovery D2 TD5 Facelift MY Red Gone Missed!
Discovery D2 TD5 Cobalt Blue: Gone Missed!
Discovery D1 Auto Oxford Blue Not missed at all!
Discovery D1 Avalon Blue First LR! missed!
Now demoted to a VW
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| 3rd Sep 2014 10:21 pm |
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DG
Site Moderator
Member Since: 12 Dec 2005
Location: The Gaff
Posts: 50978
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Good job it fell your way ...I hear that many don't
AFAIK the purpose of cascading is that under the law any live policy is legally bound to pay out the minimum of 3rd party ...where no live policy exists then MIB will cover the costs. So if someone steals your car and crashes it then as a live policy exists i.e. yours ... that is where the liability will lie ..and in this case yes I guess he could claim from the dead chaps estate 21 year LR veteran > D2 GS 2003 > D3 S 2006 > D3 HSE 2009 > D4 HSE 2013 > D4 HSE 2015 > D5 HSE 2018 > DS HSE R-Dynamic P300e 2021
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| 3rd Sep 2014 10:32 pm |
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caverD3
Member Since: 02 Jul 2006
Location: Oberon, NSW
Posts: 6922
 
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How can you give permission to drive a vehicle you do not actually own?
The Law is an ass in this case methinks.  “There are only three sports: bullfighting, motor racing, and mountaineering; all the rest are merely gamesâ€
Ernest Hemmingway
D4 3.0 Active Diff, Adaptive Lights, High Beam Assist, Surround Cameras, Privacy Glass.
D3 2.7:Adaptive Headlights,Electronic Rear Diff,ARB Bar,Blaupunkt Speakers,JVC Powered Subwoofer,Removable Snorkel,Mitch Hitch,Pioneer After Market Head Unit,Steering Wheel Control Adaptor,Remote Adjustable Supension Rod System, Taxside Dual Battery System.
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| 3rd Sep 2014 10:42 pm |
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