SHOP CLOSED! Should I keep the Coverage or Cancel It?

[justride]

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Cant you just tell the insurance your situation and they will delay the start date. The insurance should company should understand. It would be very bad PR for them if they didn't.

 

[nikos1965]

Cant you just tell the insurance your situation and they will delay the start date. The insurance should company should understand. It would be very bad PR for them if they didn't.

I explained my situation yesterday and they told me they do not delay coverage. They said The paper work has gone out already even though coverage doesnt start for 3 weeks and I would have to cancel the whole policy and start over when I want it to start with risking higher rates. I told them there must be something they can do in this unusual situation and to call me monday. Lets see if they have any compasion.

 

[nikos1965]

If the bike is financed and in your name, it must be insured.
Ask the dealer, nicely, to delay the transfer of ownership.
If the bike isn't in your name you CANNOT insure.

If the bike is financed and in your name, it must be insured.
Ask the dealer, nicely, to delay the transfer of ownership.
If the bike isn't in your name you CANNOT insure.

All the dealership has at this point is my deposits and the new plates, and the email copy of the insurance and its start date. I dont know how a bike shop would register before they even got my payment in full.

 

[nikos1965]

I'm sure the VIN is also located on a sticker on the crate itself. Or at least the dealer would know which crate is which bike/VIN.

I do not think they will be in a hurry to get this bike ready for pick up and do all the paperwork necessary with the ministry.

The insurance company should also be understanding of the situation at hand and make the appropriate adjustments.
Same with any financing companies etc.

In the worse case, I think you can delay the start day of your policy instead of canceling it. It would be the same as asking for the policy to start in the middle of March, anticipating riding weather. Than delaying it to April due to snow etc.

If by a friggin miracle they agree to a delayed start date, what possible date could I give them when I dont have a clue or the dealership a clue on when the bike could be ready? The shop is closed indefinetly.

 

[nikos1965]

Because you can't insure something you don't own... it wouldn't be your fault if the bike isn't yours by the time the policy is supposed to begin.
Ask the dealership not to transfer the ownership until the bike is ready..
Then ask your insurer if they want to be called out... for being unreasonably uncooperative during the corona times.

I will remember that line - when I call them back on Monday if they cant help me. Thanks
"Then ask your insurer if they want to be called out... for being unreasonably uncooperative during the corona times".

 

[oioioi]

If by a friggin miracle they agree to a delayed start date, what possible date could I give them when I dont have a clue or the dealership a clue on when the bike could be ready? The shop is closed indefinetly.

I would give them 1-2 weeks to see if they are back in business.

Maybe try sending an email to see if they know how long they will be closed for.

I think the word indefinitely is being used loosely here. No one knows for sure.

You can't loose anything by reaching out once a week.

As for a different date. I would move it by 2 weeks at a time if needed.

 

[ReSTored]

My daughter is an insurance agent and she indicated that you are not cancelling the policy, merely deferring it due to a situation completely beyond your control. Questionable too is the fact the policy is not even in effect yet, so no cancellation penalty would apply anyways.

The agent/broker you're working with sounds like a complete idiot and if it were me I'd just cancel the policy and move somewhere else. If the agent told me they were going to charge a penalty because they had my banking info and would just push it through I'd tell this guy I was going to pursue this through the insurance commision and I'd also be contacting my MPP in regards to COVID-19 price gouging.

 

[FLSTC]

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[justride]

Does the insurance have an ombudsman ?

 

[nobbie48]

Iv given the plates, the sticker and the old ownership tied to the plate and they were taking care of the registeration. I dont think that process has been done yet but not sure. Why do you ask?

I always follow the money. These are perilous times for small specialty businesses. If the dealership has a deposit in their bank account and they have transferred the ownership of a trade in to their stock both of those are company assets and available to creditors in the even of a bankruptcy.

If the to-be-yours bike hasn't been transferred to your name it too remains as assets of the dealer.

In one of the decades ago recessions a sailboat manufacturer took possession of trade ins promising the new boats in a couple weeks. Several people lost their deposits, old boats and never got a new one.

 

[nikos1965]

My daughter is an insurance agent and she indicated that you are not cancelling the policy, merely deferring it due to a situation completely beyond your control. Questionable too is the fact the policy is not even in effect yet, so no cancellation penalty would apply anyways.

The agent/broker you're working with sounds like a complete idiot and if it were me I'd just cancel the policy and move somewhere else. If the agent told me they were going to charge a penalty because they had my banking info and would just push it through I'd tell this guy I was going to pursue this through the insurance commision and I'd also be contacting my MPP in regards to COVID-19 price gouging.

If it was not for the cheapest premium I could find than I would go elsewhere. I will rip them apart if they dont back down on the cancellation fee or agree on a deferral date.

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