Over here in France when you sell a motor vehicle both the seller and buyer have to complete an official document called a "Certificat de Cession". It comes in 3 copies : sellers insurance/French DVLA/buyer - and confirms the transfer and ownership of the vehicle. With this, the sellers insurance is cancelled, the French DVLA recognises the change of ownership and the buyer has paperwork to insure and register the vehicle in their name. Works very well, in part because the seller has paperwork to de-reg and de-insure the vehicle.
That's been going around for a bit now. There's never been an update on it. Would be interesting to see if he did have to pay for the other guys stupidity.
As soon as I sell a bike - the insurance is contacted to close the policy. I know some don't due to fees. Damned if you do damned if you don't.
You live and learn. That seems extremely unfair, particularly with the rider being banned. I have to admit It is something that I wouldn't have thought of.
It is also a pretty questionable interpretation of the law but that never deters a hack journalist........ Broadly, under both systems of UK law you need to have an 'insurable interest' to have a valid policy. That normally stems from ownership or possession of the insured item otherwise it is little different to betting on someone else having an accident (and gambling debts are unenforceable- bookies only pay out to preserve their reputation for future business). Consequently it is generally accepted a policy is voided when you sell a vehicle because you no longer have a financial stake in the vehicle sold. Needless to say when faced with an unisured driver lawyers try every angle but the back stop is generally the Motor Insurers Bureau to which we all indirectly contribute through our premiums.....but no one tells you that, do they?
