Bike crashed payments wont stop

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jeffjones said:
If you can comprehend what was posted it states that if you make equal payments through out the year and start your insurance in March and ride till the end of October you owe 100% of your yearly premium.
Also if you look at the link I attached it clearly states for TD insurance and not SF.

make sure it makes sense before trying to prove someone wrong :D
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What you should do is not go with TD, **** happens like this you owe 100% of the premium, not a very smart choice.
 
elton_t said:
What you should do is not go with TD, **** happens like this you owe 100% of the premium, not a very smart choice.
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But also with SF this can happen to its just you might owe 92% of your premium.
 
So without having to read all stickies, was TD on their legal right to continue to charge even after they were no longer insuring a bike due to a crash?

if yes then I would never get a policy with TD. Love state farm
 
ZX600 said:
So without having to read all stickies, was TD on their legal right to continue to charge even after they were no longer insuring a bike due to a crash?

if yes then I would never get a policy with TD. Love state farm
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SF would do the same thing and it is their right to do so also.
 
TwistedKestrel said:
SF would do the same thing and it is their right to do so also.
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as I said before, I had a zx6r with state farm, bike was totaled on a not at fault crash, they took a couple of payments, but once I call them, they sent me a check back with no hassle. So no they don't
 
ZX600 said:
as I said before, I had a zx6r with state farm, bike was totaled on a not at fault crash, they took a couple of payments, but once I call them, they sent me a check back with no hassle. So no they don't
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Well then that just means you were most likely all square with them when the crashed happened.
 
jeffjones said:
Which months did you have insurance on for? That way you can get a more accurate answers to your question.

Here is the Premium% per month:

JAN: 0.0%
FEB: 0.0%
MAR: 5.0%
APR: 10.0%
MAY: 10.0%
JUN: 20.0%
JUL: 20.0%
AUG: 20.0%
SEP: 10.0%
OCT: 5.0%
NOV: 0.0%
DEC: 0.0%


Got from Viffers post in the sticky section.
http://www.gtamotorcycle.com/vbforu...immum-policy-Want-to-know-your-Penalty-Refund
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Going by this, my policy started in July and was cancelled in September. They took payments through to Nov. Assuming it is this simple, they would charge me for 50% of my premium but they took 6 out of 8 payments. That's 25% overpayment.
 
elton_t said:
OP just make a stop payment through your bank. THen they will never get your money
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Maybe, but then you risk being tagged as having had your policy "cancelled" for non-payment. That can have a serious detrimental effect on you later when you go to get insurance with another company in future. Non- or late payment is grounds to put you in a high risk insurance category, which in turn can force you to the facility insurance pool.
High Risk Drivers

Although an individual insurance company may refuse to sell you auto insurance if its approved underwriting rules determine you to be a "high risk," the insurance industry as a whole cannot refuse to sell you basic insurance.

High-risk drivers are those drivers who have had a number of convictions or at-fault accidents, had policies cancelled because they haven't paid their premiums, or have other risk-related characteristics.


The Facility Association, an insurance pool that all auto insurance companies belong to, is an insurer of last resort, which makes auto insurance available to high-risk drivers who are unable to find automobile insurance in the regular market. As well, there are a number of "non-standard" insurers who specialize in insuring high-risk drivers. http://www.fsco.gov.on.ca/en/auto/brochures/Pages/brochure_autoins.aspx#eleven
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Best bet is working the issue out with the insurance company to mutual satisfaction.
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