Insurance ???
#1
Insurance ???
Hey All-
I have heard that if you get a bike/vehicle etc. that if you finance under a certain amount the finance company will allow you to get only liability. Is that true, does anyone know? And if so what is the amount financed that i need to stay under? I will consider getting a bigger bike if so but if not i will just pay ca$h for a 250 since i dont have 8-10 Grand to blow on a more expensive bike.
Thanks,
I have heard that if you get a bike/vehicle etc. that if you finance under a certain amount the finance company will allow you to get only liability. Is that true, does anyone know? And if so what is the amount financed that i need to stay under? I will consider getting a bigger bike if so but if not i will just pay ca$h for a 250 since i dont have 8-10 Grand to blow on a more expensive bike.
Thanks,
#2
RE: Insurance ???
I would imagine that each company would have a different set of guidelines in place. You're best bet would be to call around and find out, that way there are no surprises in the end.
Things are different here. I got a loan from a bank to pay the full amount of my bike, but they never said anything about me having to carry an certain level of insurance. So I just have liability on mine.
Things are different here. I got a loan from a bank to pay the full amount of my bike, but they never said anything about me having to carry an certain level of insurance. So I just have liability on mine.
#3
RE: Insurance ???
it depends on the loan, if you have a lean against the motorcycle as colateral(sp?) then you are probably going to have to keep full coverage, but if you just get a personal loan, or kawasaki credit card, then you can have just liability. Just remember, if you reck and its your fault, you could be out 8k. If you want to run liablity, i'd fine a used one for less money.
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