insurance "fun"
Dec. 1st, 2003 01:01 pm![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
tugrikCan't win. Can't break even. Can't even stop playing the game. That's how insurance companies make me feel.
So the bike is up with my dad now. I still have a year to pay on it, which I am gladly doing. It's financed through Honda and insured in my name via McGraw. In order for him to be able to legally/safely ride it, he has to be insured.
He tries to insure it with his insurance company. Bzzt. They won't unless he's on the title.
I call Honda and try to get him added to the title. Survey says? Bzzzt. Strike two. They won't put him on it unless he was part of the finance contract.
Okay, so how about I add him to my policy as an insured driver and take the extra price-hit? The call to McGraw starts great. They provide a quote, do the research on his driving record, etc... and all is thumbs up. The price is even very affordable, for good 300/300/everything coverage! At the last stage of the game they ask for his drivers license number and they flinch when he says "Oregon". McGraw Calfornia policies can only cover California licensed drivers, period. Thank you for playing, drive through. Bzzzt.
Three strikes and we're out. He can't ride the bike because he can't be insured on it. The only real resource left to us is to find a bank that will re-finance the bike and get us both put on the title. His credit is excellent and his Credit Union loves him. Unfortunately, they hate motorcycles. Instead of a 2-4% vehicle rate, they'll only give a 9-12% "personal signature loan" rate. Uhhh, not. So now he's researching other banks to see if there's a good re-fi rate to be had (at or better than the 6.1% I got through Honda).
Hopefully he finds one that works. If not I guess I'll be going up there later this season to bring the bike back. I don't want to leave it in his garage as a space-taker if he can't ride it; that'd just be cruel.
Fie on you, insurance-and-finance companies. I'm willing to pay for the bike. My dad is willing to insure it. Why can't you just let a son and father give each other nice things now and then?
So the bike is up with my dad now. I still have a year to pay on it, which I am gladly doing. It's financed through Honda and insured in my name via McGraw. In order for him to be able to legally/safely ride it, he has to be insured.
He tries to insure it with his insurance company. Bzzt. They won't unless he's on the title.
I call Honda and try to get him added to the title. Survey says? Bzzzt. Strike two. They won't put him on it unless he was part of the finance contract.
Okay, so how about I add him to my policy as an insured driver and take the extra price-hit? The call to McGraw starts great. They provide a quote, do the research on his driving record, etc... and all is thumbs up. The price is even very affordable, for good 300/300/everything coverage! At the last stage of the game they ask for his drivers license number and they flinch when he says "Oregon". McGraw Calfornia policies can only cover California licensed drivers, period. Thank you for playing, drive through. Bzzzt.
Three strikes and we're out. He can't ride the bike because he can't be insured on it. The only real resource left to us is to find a bank that will re-finance the bike and get us both put on the title. His credit is excellent and his Credit Union loves him. Unfortunately, they hate motorcycles. Instead of a 2-4% vehicle rate, they'll only give a 9-12% "personal signature loan" rate. Uhhh, not. So now he's researching other banks to see if there's a good re-fi rate to be had (at or better than the 6.1% I got through Honda).
Hopefully he finds one that works. If not I guess I'll be going up there later this season to bring the bike back. I don't want to leave it in his garage as a space-taker if he can't ride it; that'd just be cruel.
Fie on you, insurance-and-finance companies. I'm willing to pay for the bike. My dad is willing to insure it. Why can't you just let a son and father give each other nice things now and then?
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no subject
Date: 2003-12-01 01:06 pm (UTC)no subject
Date: 2003-12-01 02:48 pm (UTC)no subject
Date: 2003-12-01 04:05 pm (UTC)The 'personal signature loan' is just ... Well, crap. That's the sorta thing that keeps people in four-wheeled extra-heavy SUVs. Grr. We hadta switch insurance companies after the one we'd dealt with for several years wouldn't even look at our bikes.
Good luck on your next attempt... Though, I'm surprised you couldn't get his insurance to waggle on the financing a little. Would they take a lien on the title or somesuch? I'm surprised your financing wouldn't gladly add him.
no subject
Date: 2003-12-01 05:37 pm (UTC)If the answers are all good, just let your dad "borrow" the GL until you're done paying on it! ;)