What happens if you purchase a brand new motorcycle on a credit card and then end up canceling the insurance in the same week as buying it?
If you are speaking of physical damage coverage, if you have no loan or an unsecured loan such as a credit card then you are not required to carry this coverage for the bike itself. However if you plan to drive it over the road, every state has requirements for minimum liability coverages that must be carried. So if you cancel the insurance and still drive it not only are you in violation of the law but if you cause an accident you will be completely liable for any damages and injuries and will have no coverage. Typically minimum limit liability policies are inexpensive.
Your sister was a passenger on a motorcycle that was hit by a drunk driver her boyfriend who was driving the bike had no insurance registration or a valid motorcycle license what happens?
What happens if you get into a motorcycle accident and you dont have insurance and its your fault in Florida?
You are responsible for the damage you cause in an accident, regardless if you are insured or not. Having insurance transfers your responsibility to pay for the damage from you to your insurance company. If there are injuries to the other party, then the other party's insurance should pay for their injuries, but you are still responsible for the property damage you have caused the other person.
You can lose your license if you were at fault. If you were not at fault you would be required to purchase insurace with the SR-55 form. This means you will pay higher insurance and will have to do so for three years. (The rules may have changed over the years.) After you have had 3 years of no accidents and no lapses in insurance then you would get another form from the DMV and…
What should you do if the lender obtained a judgment to repossess your motorcycle eight months ago and they have yet to pick up the motorcycle and you are in Wisconsin and the lender is in Texas?
What happens if there is an autombile accident with a motorcycle and you have insurance but the other motorcyclist does not have a license or registration?
"Mortgage payment protection insurance is essentially a form of life insurance. If something happens to you, your mortgage payments will be covered under the terms of your insurance plan. This insurance is definitely not necessary, and, in fact, a more standard plan like term life insurance may get you a better value for your dollar."
If you surrender it you are in effect canceling the policy. They will issue you a check for the cash value in the insurance and you will no longer have the protection. Alternatives? Maybe take a loan on the cash value which you would have to pay back. If you are over 52 you should look into selling the policy as you will get more than the cash value. I can help you with that…
People will only buy insurance for 3 reasons; Love, Character and a Divorce Decree. Sound like he has none of those. You should get a court order forcing him to buy insurance to protect his child support payments making you the beneficiary. Likewise you should have some if something happens to you, despite how much you hate him. You can make the purchase of life insurance on him if he will agree to sign the…
What happens if your motorcycle is stolen before you make your first payment or withing 30 days of purchase and you were unable to even get insuraunce yet?
Answer I know with vehicles, the dealer carries insurance for you for a certain amount of time, usually about 2 weeks to a month. Check your contract or call your dealer to find out for sure. Statement I can not believe the dealer let you leave the dealership with a financed bike without getting a binder from your insurance agent. If you traded a bike for the one that was stolen then contact you insurance…
How do you get your newly purchased used car from the dealer to your insurance agent without any car insurance?
What happens when you purchase a used car from a dealer is that you get information from the dealer on the car you are buying, such as make, model, year, VIN number, then you call your insurance company. This can be done at your home or you can do it right in the dealer's office. If you are trading in an old car, you can transfer the insurance from your old car to your new…
Can you add an unrelated person to your policy and let him drive your car or is it cheaper to buy him an old car and insure it in his name?
I would advise letting them purchase their own car and insurance. If something tragic happens the attorneys can and will come after you. It is not that unusual in a tragic accident for the damages to exceed the insurance and then you are personally liable. If you do decide to go this way consider purchasing an umbrella insurance policy. lwpat