Financed by SF,do I have ti insure with them as well?

[theshnizzle]

I bought a 2009 CBF 1000 recently financed through SF. Upon dawdling about on the computer, Primmim quote was 500 LESS than ST. The bike is currently not insured as I just bought it. So..am I obligated to insure through SF because they are the financiers or am I free to shop around? I don't want to ask my agent until I hear some opinions.

[CruisnGrrl]

I bought a 2009 CBF 1000 recently financed through SF. Upon dawdling about on the computer, Primmim quote was 500 LESS than ST. The bike is currently not insured as I just bought it. So..am I obligated to insure through SF because they are the financiers or am I free to shop around? I don't want to ask my agent until I hear some opinions.

What's it say in your financing agreement? odds are it just says you must be insured and not with whom.

[Katherine]

You don't have to have your insurance with SF. SF's finance company is a separate entity.

[theshnizzle]

Thank you for the reply......( Cruzgrl...still have the busa of course...)

[DoubleJ]

But they hold the lien on your bike though.

[fuzion]

they have the opportunity to persuade you into taking a policy with them

but they can't make it a condition of financing, that you insure it with them

that is coercive tied selling, which is illegal