FAQs
Gibraltar-based MCE Insurance Company Limited (“MCE”), was placed into administration on 19th November 2021.
MCE’s administrator has told policyholders that it will cancel all policies due to the ‘financial position’ of the company.
MCE’s policies will be disclaimed at midnight on 31st January 2022. This means that regardless of your original policy end date, your insurance will no longer be valid from 31st January 2022 and your motorbike will not be insured.
Yes, your insurance cover remains in place until midnight on 31st January 2022. After that you will need another insurance policy to cover you and your bike. Remember, it is illegal to ride a motorcycle or scooter on a public highway in the UK without having valid insurance in place.
It’s always best to shop around before accepting any quotations. Here at The Bike Insurer, we work with a panel of over 40 insurance brands, from which we will source a range of different insurance quotations based on your individual circumstances. Best of all, it’s quick and easy to get a quote.
Just click on the ‘Get Quotes’ button at the top of the page to access our simple, online quote form.
We know that January can be an expensive time of year for many people, so unexpectedly having to spend money on a new insurance policy probably comes as a bit of a blow.
The good news is that The Bike Insurer has a wealth of help and advice on how to get cheap motorbike insurance, so keep an eye on our website for regular updates.
If you have an existing claim, you may be eligible for compensation via the FSCS. For more information, visit their website, www.fscs.org.uk.
If you have paid for a policy in full, you may be eligible for compensation via the FSCS. For more information, visit their website, www.fscs.org.uk.
MCE Insurance Company Limited is an insurance company based in Gibraltar and is the company that has failed. There is another company called MCE Insurance Limited who are based in the UK and who are an insurance broker and they continue to trade normally. The two are separate companies, but the similarity of the names can be confusing so check your insurance policy carefully.
It means that the insurer (in this case MCE in Gibraltar) cannot accept any insurance claims on existing policies and will therefore cancel your insurance policy on a specific date. In this case, affected policyholders will see their insurance cover end at midnight on 31 January 2022. After this point in time, unless you have arranged alternative insurance, your motorbike is not insured and so if it is stolen or damaged, you will not be covered. You will need to obtain new insurance.
Different motorbike insurers are offering different approaches to things like No Claims Bonus at this time. Why not get some quotes from The Bike Insurer and you will then be able to see which brokers are providing you with a quotation and can speak to them about how they will treat your No Claims Bonus following the collapse of MCE.
Some bikers choose not to ride during the winter months and take their bike off the road. To do this, you will need to register your bike as SORN, which is short for Statutory Off Road Notification. It’s a process of telling the DVLA that your bike is off the road and you will not need to have insurance during this time. Remember though, if your bike is damaged while uninsured, you may have to pay for any repairs or replacements yourself.
This question is not intended to include situations where your insurance has been “disclaimed”, so unless you have had insurance declined, cancelled or special terms imposed at another point in time, you should click ‘No’.
