Motorbike insurance cancellations 'increase in winter'

Motorcycle insurance policies typically fall in number during the winter months, according to one insurance provider.

However, with the implementation of continual insurance enforcement (CIE) earlier this year, the trend could now cease, according to Groupama Insurances, the company behind motorcycle policy provider Carole Nash.

Ian Pritchard, private motor development underwriter for the company, explained: "The implementation of CIE makes it illegal to cancel insurance cover on a car or motorbike if it has not been declared as SORN (Statutory Off Road Notification)."

He added that there are many advantages to keeping a policy as riders could continue to benefit from the insurance contract. Mr Pritchard reminded two-wheeled enthusiasts that both theft and possible damage would continue to be covered, as would other bikes. Furthermore, riders would be able to take advantage if any decent weather manages to surface.

"Keeping the policy in force also avoids early cancellation penalties that can be as much as one-third of the premium," he added.

It also seems that many motorcycle owners are satisfied with finding bike insurance online. In a poll conducted by independent financial research company Defaqto, 86 per cent of respondents said they were satisfied with the service and price ranges they received in online insurance quotes.

Reflecting the way in which changing consumer trends have even impacted on the financial services market, Defaqto's research also showed that, in terms of car insurance, 95 per cent of policies bought online would replace a new car if it were stolen or written off. However, the figures indicated a greater need for consumers to know their stuff when it came to specific policy terms, the company warned.

Mike Powell, Defaqto's insight analyst for general insurance, said that people need to focus "first and foremost on pinpointing the features they need from an insurance policy" and then identifying the policies that provide it.

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