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| *Vultures Knob>>>Bike Insurance |
How does the bank find out if you switched your motorcycle coverage to liability from their loan? |
i know if you finance through a bank and you dont get a personal loan, then you must carry full coverage on the bike. but what stops you from just calling your insurance agent during the winter when your bike sits in the garage all the time and just putting liability on the bike?? If the loan isn't paid off, the bank is the 'official' owner of the bike. If you change the insurance, they are notified. the insurance company's are bound by law to report this if you do it until the bike is paid for,they do the same thing with any vehicle ,whether it be a car boat or a motor cycle,they just do this to protect their own interest in what you owe on it,once its paid for they don't care what you have on it,but its that way just about everywhere you go to now,and its the law,good luck. I can't say it any better than those two. |
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