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  • Perhaps somewhat related:

    If you find that your house has been burglered, but there are no marks of breaking, you are in serious trouble as far as your insurance is conceirned (here in the Netherlands)
    "post reported"Winston, on the barricades for freedom of speech
    "I don't like laws all over the world. Doesn't mean I am going to do anything but post about it."Jon Miller

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    • I wonder why no other lienholder has ever come up with this scheme:

      "I'll maintain title to the car, and we'll draw up a rent-to-own contract. The insurance will be in my name, but you will pay for it, and if you ever default I'll just collect from the insurance company"

      Now, ask yourself: why the **** would any insurance company allow itself to be put in the position of doing free repos for lienholders?

      12-17-10 Mohamed Bouazizi NEVER FORGET
      Stadtluft Macht Frei
      Killing it is the new killing it
      Ultima Ratio Regum

      Comment


      • Originally posted by KrazyHorse
        That you should read your insurance contract very carefully

        That was my thinking. Somehow I can see the insurance company seeing him taking off with the car as a contractual matter between the two of you. I do sincerely doubt that they would consider that they have insured you against the chance that your gambling addict friend who has ACTUAL POSSESSION all the time may take off with it or bring it to a chop shop.
        You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto Luongo

        Comment


        • You're right, I would look like a fool...and I called. I'm not covered if he leaves with the car. But I'm sure he wont. Hey, all I can base this on is good will on his behalf.

          But I know some guys that can take care of this if I give them 500 to 750$

          We'll see in time. But I'm really not nervous.

          Thanks anyway KH for the heads up. Now I'm that less stupid.

          Spec.
          -Never argue with an idiot; He will bring you down to his level and beat you with experience.

          Comment


          • I guess to follow up-- your friend is entitled to possession of the car under your deal so he can't really "steal it". All he can do is fail to pay you and continue driving. The insurance company will NOT see that as an insurable loss. They are NOT insuring a loan .
            You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto Luongo

            Comment


            • Well, good luck with all that, Spec.

              There's not a chance in hell I would have given this guy the money. If anything I would have thrown down a gift of 500$ or something.
              12-17-10 Mohamed Bouazizi NEVER FORGET
              Stadtluft Macht Frei
              Killing it is the new killing it
              Ultima Ratio Regum

              Comment


              • Originally posted by Spec

                But I know some guys that can take care of this if I give them 500 to 750$

                repo men ??


                Oh and what jurisdiction will this all take place in?

                Did you say that the actual title to the car will be in your name? ( ie you will be the owner and not merely have a secured charge on the asset)

                You do realize that there are situations where liability for motor vehicle accidents can be placed on the owner of a vehicle for the acts of those that use it with their permission . . . You do realize that if the liabilities exceed the policy limits or if the policy does not cover certain things, they can come after YOU personally !!!

                tell me the jurisdiction and confirm the above facts and I should be able to see if this principle applies to you
                You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto Luongo

                Comment


                • Quebec is a no-fault insurance zone, flubber
                  12-17-10 Mohamed Bouazizi NEVER FORGET
                  Stadtluft Macht Frei
                  Killing it is the new killing it
                  Ultima Ratio Regum

                  Comment


                  • Originally posted by KrazyHorse
                    Well, good luck with all that, Spec.

                    There's not a chance in hell I would have given this guy the money. If anything I would have thrown down a gift of 500$ or something.
                    I'm of a similar view. There is no way in heck that I am going to be the "owner" of a motor vehicle thats being driven 24/7 by people I don't know
                    You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto Luongo

                    Comment


                    • Injury liability is paid out of a general pool which draws its funding from licensing and registration fees. Property damage is paid for by the property owner's insurance.
                      12-17-10 Mohamed Bouazizi NEVER FORGET
                      Stadtluft Macht Frei
                      Killing it is the new killing it
                      Ultima Ratio Regum

                      Comment


                      • Originally posted by KrazyHorse
                        Quebec is a no-fault insurance zone, flubber
                        Darn and I would have had a killer argument in most of the other provinces.

                        I'm not familiar with Quebec's regime . . . Is there no possibility of liability for the tortfeasor or the vehicle owner??
                        You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto Luongo

                        Comment


                        • There is not even a possibility of civil liability for a drunken maniac who deliberately drives into a pack full of smiling schoolchildren, killing and horribly maiming them by the dozen.

                          He can be sentenced to prison (of course), but victims have no right to sue him. They are compensated by the previously mentioned general pool...
                          12-17-10 Mohamed Bouazizi NEVER FORGET
                          Stadtluft Macht Frei
                          Killing it is the new killing it
                          Ultima Ratio Regum

                          Comment


                          • Originally posted by KrazyHorse
                            There is not even a possibility of civil liability for a drunken maniac who deliberately drives into a pack full of smiling schoolchildren, killing and horribly maiming them by the dozen.

                            He can be sentenced to prison (of course), but victims have no right to sue him. They are compensated by the previously mentioned general pool...
                            The insurance pool compensates for DELIBERATE acts??

                            wow
                            You don't get to 300 losses without being a pretty exceptional goaltender.-- Ben Kenobi speaking of Roberto Luongo

                            Comment


                            • They were considering removing the protection for somebody who is found to be criminally responsible for the "accident"

                              It hasn't gone through yet, I don't think.

                              But this has been the case since 1977...
                              12-17-10 Mohamed Bouazizi NEVER FORGET
                              Stadtluft Macht Frei
                              Killing it is the new killing it
                              Ultima Ratio Regum

                              Comment


                              • Originally posted by Spec
                                It may be so, I'll check.

                                So you mean if I lend you my keys, and you take off and I never see you again, I'm not covered? I'm pretty sure I am...I'll call right away...just to be sure.

                                Hey, who read an insurance contract all the way?! I know I dont...I probably should though
                                Well, yeah. If part of your strategy is to depend upon the insurance company to recover your loan, you'd better make sure they'll do that, dontcha think?

                                Perhaps you oughtta call the loan.

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