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Author Topic: MCE gone bust / Into LIQUIDATION?  (Read 5033 times)

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#10

Offline Duffelcoat

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Re: MCE gone bust / Into LIQUIDATION?
Reply #10 on: 15 Jan 22, 11:20:38
*Originally Posted by Steve CJ [+]
Thanks i've just got a new policy to start when this ends. so will see if i get the 6 months i still had to run back. wont hold my breath though

No you won't unfortunately,

I had my SX policy with these guys and when I sold the bike (mid January) I just cancelled the policy, no refund and I had 8 months left.

They have always had a very poor refund policy, and I reckon they knew they were going down the tubes as the policies towards the end were very cheap and in my view used the last period of trading to get as much cash in as possible regardless of the consequences.

#11

Offline Inventor

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Re: MCE gone bust / Into LIQUIDATION?
Reply #11 on: 15 Jan 22, 12:49:48
Hi all I've only just joined this forum today. I'm having issues with insurance cover on a SX1000.

I'm in the process of exchanging my 2020 Ducati 1200S for a 2020 SX and I've been horrified by the insurance quotes, some as much as 3 times compared to my Ducati.

Anyway, just this morning TheBikeInsurer.co.uk just offered the best quote so far @£600 fully comp, yeah guess who with... MCE

So I did some searching, on  The Money Saving Expert website (https://www.moneysavingexpert.com/news/2022/01/motorbike-insurer-mce-to-end-policies-for-all-105-000-policy-hol/) I read this particular paragraph... "Policies taken out or renewed with MCE on or after 9 November 2021 are not affected. They're underwritten by Sabre Insurance Group, not MCE Insurance. If this is the case for you, you'll continue to be covered, and can make any policy changes or claims as normal by contacting the broker arm of the company, MCE UK."

Confused or what?

#12

Offline Scotty001

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Re: MCE gone bust / Into LIQUIDATION?
Reply #12 on: 15 Jan 22, 01:06:58
 :401: inventor
It is confusing, there is mce UK with parent Co mce, mce UK isn't affected as its a separate company and have changed their brokers, but anyone with mce will be affected and their policies are not transferring to mce UK (as its a separate company)

On a side note when doing comparisons and using the registration number double check the bike it returns, it's a common issue that they will see your bike as the hs2 (much more expensive and powerful bike with a supercharged engine) and not a Z1000SX.

you often need to enter the make and model of the Z1000SX to get an accurate quote.

#13

Offline Inventor

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Re: MCE gone bust / Into LIQUIDATION?
Reply #13 on: 15 Jan 22, 01:35:00
Thanks Scotty,

Yes I have become aware of model type inaccuracies in respect of the registration number so I've been putting the model details in manually to be sure.

The closest I've got to an explanation to what seem to me to be grossly inflated insurance premiums for the SX is that statistically they are top of the preferred theft list while by comparison the Ducati is not.

Talking to Bennetts I said, "So essentially you are prosecuting customers for a crime they haven't committed yet! You are wanting me to pay for all the other idiots!". So I got more blah blah blah bullshit excuses to which i said, "That may be the case but no one could ague against me when I say that it is grossly unfair and unreasonable!"

Just as a talking point... If they wanted to play fair here's an idea. Where they believe the risk it high you get slapped with a high premium. If at the end of the policy you've made no claim the insurance company has done NOTHING for the £1000 or £3000 quid you've handed over.

Solution... As an example, your premium will be lets say £250 quid with a £1000 or £3000 DEPOSIT... If you make no claim within the policy term you get the deposit back, if you do make a claim they get to keep the deposit.

It would be VERY much fairer and reasonable because it would mean the crash-magnets would pay instead of those of us with clean driver histories.

Dream on huh   

#14

Offline Scotty001

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Re: MCE gone bust / Into LIQUIDATION?
Reply #14 on: 15 Jan 22, 02:18:07
Yeah I agree with that. insurance is a big rip off, the simple fact that they hike your insurance premium up just for reporting someone hit you is rediculous, but they see it that if you have been involved in an accident once, then there's a very good chance it will happen again.
I'm guessing during the process of being involved in an accident your genetic dna gets changed to be a magnet to people that create accidents.

When I moved house my insurance shot right up, I went from a flat with off street parking on public Rd parking to a house half a mile away, in a dead end street which is a side road with 6 properties (you would only turn onto it to visit a property) & the house has an integral garage where the bike is kept.

When I asked why its going up and not down as its a nicer /safer area, and bike is now out of sight and not parked on a public road but now housed in a garage.

I was told that the area is must have have a higher crime rate.

And they were right!! It turns out 200 yds (as the crow flies) there is a small youth centre that is open 2 days a week, right next to this is a block of 10 retirement flats (full of what must be the most grumpiest oaps you could imagine)
when I checked crime reports for the area, the postcode for the youth club lit up like a Christmas tree with a constant 40 reports a month to the police, all being noise disturbances, further googling turned up that there were next to no noise complaints before the residential block was built and the oaps moved in.
what's more funny is the land that the flats are built on was owned by the youth centre, it was sold so the flats could be developed.

Every other crime type is a well below the previous flat and hardly any vehicle theft or damage.

So because some grumpy oaps don't want a kids youth centre near them, a youth centre that a) was there well before they were, and b) is the reason they have those flats to live in the first place
They make constant complaints in the hope they can shut it down. Now everyone's insurance for house and vehicle goes right up as it can be classed as being in a high crime area. Why do these idiots move into flat next to a youth club that they do not like or want to be close to.

#15

Offline Steve CJ

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Re: MCE gone bust / Into LIQUIDATION?
Reply #15 on: 15 Jan 22, 05:18:10
tell everyone to make a whole lot of noise then maybe the oap's will move out and then your insurance wil come down  :001:

#16

Offline Inventor

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Re: MCE gone bust / Into LIQUIDATION?
Reply #16 on: 16 Jan 22, 01:32:43
Same old problem Scotty... Seems you just can't find a machine gun when you need one  :001:

Similar to your insurance/address issue... When my daughter moved out to her own place her car insurance premium was reduced by £100. She moved into a rented house just 300 yards from me but it placed her under a different post code and that apparently made all the difference.

To the would-be bike thief, they would have to be so damn stupid I doubt they would have the brain power to take a pushbike. I live at the end of a cul-de-sac. To the rear of my house there is no exit by road or on foot because there is an 8 foot tall climb-proof spiked steel fence, there is no exit. The machine is out of sight and locked in my back yard enclosed by a 7 foot brick wall along with my two dogs. All watched over by my CCTV and of course some of the other houses CCTV. If that doesn't put them off there are only 2 roads in or out of town. My place of work is would you believe is right next door to the town police station.

I'm thinking I might just bet on myself. If I go TPFT only it knocks about £150 off the premium. Now that might seem like a big risk on £10,000 worth of machine. However, what would happen if I binned it and put in a claim? I'd bet that my next premium would be so high it would be prohibitive anyway!

I suppose the other lesson learned is that based on insurance paranoia it seems that no one wants to steal an new Ducati 1200S

#17

Offline Liam_1024

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Re: MCE gone bust / Into LIQUIDATION?
Reply #17 on: 26 Jan 22, 05:18:47
Good tip someone mentioned above- I nearly fell off my chair when I was looking at getting a 2020 Ninja, to get an insurance quote of £1900! Tried putting it in manually as a ninja 1000 SX and it was still the same.

You have to go back to calling it a Z1000SX with the year as 2020 and it will return realistic prices

#18

Offline Inventor

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Re: MCE gone bust / Into LIQUIDATION?
Reply #18 on: 27 Jan 22, 09:21:59
I've finally ended up with Adrian Flux, I explained that I believed there were some glitches in the system as I was getting ridiculous results from online quotes. Turns out that data records were showing that my house was in Canada not Herefordshire UK! Also for reasons unknown it was showing me as unemployed while in fact I've never been unemployed in the last 50 years... (so far).

The premium is still a bit higher than the Ducati 1200s but I was told that the SX is top-list for theft.

#19

Offline Steve CJ

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Re: MCE gone bust / Into LIQUIDATION?
Reply #19 on: 31 Mar 22, 10:54:46
Got my cheque today  :028:

 



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