by Guest » Mon Mar 28, 2011 10:24 pm
I bought a boat in December and failed to get insurance on it for three months. I finally got insurance on it in February. The creditor, not having received proof of insurance, force placed insurance in March but backdated it to December when I bought the boat and did so at 4 times the cost of my insurance. Providing proof of insurance coverage was not enough as my policy only went back to February. I asked my insurance company to backdate mine but failed again. I asked to purchase my own backdated insurance as my creditor did and failed once more.
Is it not against the law to backdate insurance (insuring property against events that have already transpired)?
Its starting to sound like they have me in the corner, hands in my pockets, and no way out.
Is it not against the law to backdate insurance (insuring property against events that have already transpired)?
Its starting to sound like they have me in the corner, hands in my pockets, and no way out.
Posted: Tue Mar 29, 2011 01:24 am Post Subject:
It's not against the law if the carrier wants to accept the liability. This is the reason why it's 4 times as much... as their is a bigger risk in back dating coverage.
Also this coverage does not protect you... only the lien holder.
Who put you in this situation?
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