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MCE CANCELLING ALL POLICIES

daveinlim

By daveinlim,
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daveinlim

daveinlim

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I've just got an email (see below) from MCE stating that they are cancelling all policies from the end of January. Only a few days before my renewal is due, and consequently my next year's NCB. FFS Im fairly new to bikes and only got a couple of years. They are cancelling the policy and then have the cheek to tell me to ring them for a quote under their new company. However they have me by the short and curlys as their quotes are half that of everyone else. 

 

Your policy of insurance is underwritten (or is provided to you) by the Company, which is in Administration.  The Company’s permission to write insurance was suspended on 5 November 2021.

Due to the financial position of the Company, the Joint Administrators intention is to disclaim all motor bike and scooter insurance policies as at 24:00hrs (being midnight) on Monday, 31 January 2022.  

This means that when your policy of insurance is disclaimed, your insurance policy will cease or, in other words, end.

This means that you will need to seek and put in place alternative insurances prior to your policy being disclaimed on 31 January 2022.  

Up until your policy is disclaimed, and on the basis that you are fully complying with the terms and conditions of your policy of insurance, your policy will remain valid.  No adjustments will be permitted to your policy from today except for administrative adjustments which do not affect the risk associated with the policy of insurance – such as correction to the spelling of a name for example.

 

 

 

 

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Hoggs

Hoggs

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uggghhhhhhhhhhh I only just got mine renewed in oct so now I'm gonna have to try get money back for remainder of policy. do not need this shit right now 

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Bender

Bender

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13 minutes ago, Hoggs said:

uggghhhhhhhhhhh I only just got mine renewed in oct so now I'm gonna have to try get money back for remainder of policy. do not need this shit right now 

Hmmmm will you not just be In a big pot of creditors that's getting nothing? 

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Hoggs

Hoggs

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10 minutes ago, Bender said:

Hmmmm will you not just be In a big pot of creditors that's getting nothing? 

let's just pretend I'm not gonna get screwed on this as well. I've had 2 years of being shit on 

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daveinlim

daveinlim

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55 minutes ago, Hoggs said:

uggghhhhhhhhhhh I only just got mine renewed in oct so now I'm gonna have to try get money back for remainder of policy. do not need this shit right now 

As far as I can tell you'll be entitled to a min of 90% of your pro rata policy from fscs 

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Stu

Stu

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I do feel sorry for everyone living in Landan as there was only MCE who would give a decent price albeit with a huge excess normally! 

 

Maybe its this reason they have gone tits up? 

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Gerontious

Gerontious

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Every time Ive renewed on the Africa Twin, MCE was always the cheapest... but I never opted for them. Must have been something in the back of my mind that put me off. were these the ones that added silly charges for the most banal changes. (Or as above a stupid excess)

 

I'm hoping that next time with the bike hitting 4yrs old, Carole Nash will give me a quote that is vaguely competitive. I had been with them for years but the first year quote was almost £500 more than the one I bought. (Devitt)

Edited by Gerontious
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Fozzie

Fozzie

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MCE were who I was with in London, and I'm not surprised they've gone under as me and a number of others found them to basically screech in terror if they actually had to pay out for an accident/theft. I never used them again and switched to Bikesure when after the theft of one of my bikes, they claimed I didn't tell them of another claim. Had to get the phone recording in the end where you hear me say "no extra claims, just the ones you have on file already". They'd dropped off one, and I hadn't spotted it (been with them for a few years, and I was complacent). They paid out, but took off a chunk to cover what my premium apparently would have been with all claims on it. 

 

Quick question, if you're within a month of the policy finishing, don't you have the no claims bonus secured? Your policy isn't being cancelled in the traditional "you messed up" sense. So I'd speak to your new insurer about it, as they might say they'll count it. Ask them to e-mail you a written confirmation if they do agree. 

 

I've had to get a letter written up for my Blackbird. Most places try to put it on a "classic" policy, which doesn't accrue no claims, and after 1 year any no claims you've accrued resets, so I would have lost 8 years if I went ahead with it. It's getting harder to insure without costs flying up...

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Earnie

Earnie

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Does anyone know if MCE still offering new motorbike policies? They’re still being quoted on price comparison sites but surely they wouldn’t offer new policies while disclaiming on all existing policies!? I live in London and they’re the only insurer that quotes me less than £3k!!

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Hoggs

Hoggs

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3 hours ago, Earnie said:

Does anyone know if MCE still offering new motorbike policies? They’re still being quoted on price comparison sites but surely they wouldn’t offer new policies while disclaiming on all existing policies!? I live in London and they’re the only insurer that quotes me less than £3k!!

yup I finally found who their new underwriter is. I will also have to go with them again  due to cost 

 

https://www.motorcyclenews.com/news/2021/december/mce-insurance-company-ltd-administration/

 

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