I am getting some grief from Coast Capital Insurance over the cancellation of my motorcycle policy. I need to vent a little here. Perhaps someone can post some additional knowledge/experience in this area.
I purchased a year-long policy in April '05, paid in equal monthly installments. I cancelled it in October '05. Guess what? Coast Capital has continued debiting my bank account. WTF?
Their justification for the continued billing: their insurance is seasonally-rated. Coverage during the nice-weather months costs more (because spring and summer is when you're riding more and at higher risk of having an accident). I am in effect still paying for coverage I have already used.
OK, perhaps this logic has some merit (summer == accident season) BUT it was certainly never explained to me at the time of purchase, and I see no details of it in the insurance documents I have. But I am being assured that this is "standard policy".
I cancelled my policy because the bike was going into storage and I could buy ICBC storage insurunce for less! If I knew I was still on the hook I certainly wouldn't have cancelled -- I would have kept it!
I've gone as far as I think I can with the initial insurance rep. She is going to have someone from the motorcycle underwriters division (?) call me back in the next few days. We'll see where this gets me.
Seasonal coverage rates may be justifiable, but it was certainly not disclosed to me, nor is it documented anywhere. That is what burns me the most. If I had made then mistake then I would be blaming only myself.