I financed my ride through my dealership, and it wound up going through Laurentian Bank. I'm required to have full coverage on the bike until it's paid off.NorthernPete wrote:the only time you should need full coverage for insurance would be if you were leasing. financing they shouldnt care....
I financed my car through GMAC, and I'm required to have full coverage until it's paid off.
If I'd gotten a personal bank loan and purchased either of them outright that way, I'd be able to have whatever insurance coverage I chose, as I would own the vehicle and not the bank/finance company.
With financing (at least here in Alberta), until you have whatever it is you are financing paid off, you don't really own the vehicle outright. You can still do whatever you want with it, but the finance company has a lien on the title