Can you cancel motorcycle insurance after 6 months while still paying lease? - month motorcycle insurance
If you get financed a bike, the Bank requires the owner to insurance against all risks on the bike to reach. Say if I am to cancel my insurance, after a few months due to some reason and no policy for the next year. The bank is to discover and punish me until I get it?
Or I can go with that?
Thank you .........
Tuesday, January 12, 2010
Month Motorcycle Insurance Can You Cancel Motorcycle Insurance After 6 Months While Still Paying Lease?
6 comments:
The bike must be insured. It would be crazy not to insurance for a vehicle of any kind, which have funded. If it is stolen or damaged if they are not always responsible for insured !!!!! ready
The conclusion is simple ... The bank discovered the absence of insurance. To specify a date for insurance reimbursement. If they have no right to confiscate the bike. If you try to hide the wheel, the court may seek the appointment / order accompanied by an officer to confiscate the bike and do the same charges file for you. Therefore, the loan must be disqualified, they make you pay the remaining amount and the registration of a negative index of your loan. IMO not worth it.
No rush, they fall under the lease at a rate of over 60% .... Read your lease.
You are required by the bank, full coverage, as long as you have to finance the motorcycle and require proof of insurance. If you cancel the insurance, the Bank and RESUME his bicycle.
If you can not afford insurance, there is probably a reason, right?
I Pay only $ 34/mo for full coverage and doctors in a sport, why do you think?
If the bank discovers you have a problem. The insurance company may notify the Bank in this case. You can get away with it, but good luck.
Technically speaking, this is not the owner of the bicycle ... the bank .... and the Bank must remain on insurance, investments .... I know in my area, where many people bring their bikes to sleep in the winter, so that all banks be reduced to a minimum insurance cover .... Example :.... Your bike will be invited and not regulated in the street for an extended period of time. .. May, you can reduce the collision ... and lead only fire and theft coverage cons ... it is best to contact your insurance company and bank to see what is acceptable for each of them and go from there.
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