shabbaman
12-16-2002, 11:42 AM
I'm doing my ED in January. However, this recent Ship sinking in England has all of a sudden put a few questions into the air. Mainly, they are about insurance.
I'm doing my financing not through BMW (Got a MUCH better rate), so my financier needs to have certain questions answered. One of which is maritime insurance. From the conversations that I've had with the dealer I was told that I would be named as the loss payee and that the maritime company would provide the insurance.
However, what I didn't ask him is HOW MUCH the car is covered for. Apparently, all the other Bimmers on the boat are covered for the BMW factory price, not dealer price. (why insure something for $10 when it only costs you $8 and 99.9% of the time you will never have a loss) My car would need to be covered for my purchase price. Does BMW make sure that the insurance they write for my car will cover me in case the car is lost?
Sorry for the long post.
I'm doing my financing not through BMW (Got a MUCH better rate), so my financier needs to have certain questions answered. One of which is maritime insurance. From the conversations that I've had with the dealer I was told that I would be named as the loss payee and that the maritime company would provide the insurance.
However, what I didn't ask him is HOW MUCH the car is covered for. Apparently, all the other Bimmers on the boat are covered for the BMW factory price, not dealer price. (why insure something for $10 when it only costs you $8 and 99.9% of the time you will never have a loss) My car would need to be covered for my purchase price. Does BMW make sure that the insurance they write for my car will cover me in case the car is lost?
Sorry for the long post.