Sunday, January 16, 2022

ON THE BIKE Thousands of motorcycle insurances are being CANCELED as MCE goes into administration

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One of the UK’s largest auto insurers is set to cancel more than 100,000 motorcycle and car policies by the end of the month.

Despite promising to meet its 105,000 active insurance policies after slipping into administration last year, MCE Insurance Company said it would now cancel them within days.

For policies taken out before November 9, 2021, car or van coverage ends tomorrow (January 14) at midnight, the Money Saving Expert reported.

Motorcycle and scooter insurance purchased before November 9th ends at midnight on January 31st.

Customers need to find replacement guidelines in order to continue driving their vehicles legally.

At the time of the administrative breakdown on November 19, MCE did not contact its customers.

Affected customers whose policies expire this month have now been contacted.

A partial refund will be offered to all MCE policyholders with outstanding policies signed before November 9, 2021.

In accordance with the Financial Services Compensation Scheme (FSCS), affected customers receive a pro-rata refund of 90% of all unused months of their policy.

You don’t have to do anything – a check will come in the mail from the FSCS.

Those who have taken out MCE policies since November 9, 2021 will not be affected as their insurance is taken out by Saber Insurance Group rather than MCE itself.

If you have any questions about your refund, the FSCS online chat service should help.

You don’t have to do anything – you will instead be contacted by FSCS regarding your MCE claim.

This is because existing claims have been passed on to the system that is now taking care of them.

If your claim is eligible, the FSCS pays out.

And if you need to make a claim before your policy is canceled, contact MCE ASAP.

You can do this by using the company’s live chat tool, emailing info@mceinsurance.com, or calling 0193 335 1361.

If an insurance provider fails, its policies either continue under the supervision of a new insurer or terminate early.

If your insurance contract ends prematurely, the FSCS will protect 90% or 100% of your insurance premium proportionally until the end of the contract, depending on the term.

If you are an affected MCE customer and need new car protection, you will find the best insurance prices here.

Driving without insurance is a serious offense that can be punished with a fine of up to £ 1,000.

Car and motorcycle riders were also given advice on how to reduce the cost of their MOT.

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