where do I start? Originally I was to purchase a dirt bike and one of my prerequisites was to only purchase with a mso (manufacture statement of origin/title) Very few dirt bikes have one because purchasers of new dirt bikes rarely register because theyre not licensed vehicles. I called my insurance company for a quote to see what was required because I travel alot and know that dirt bike theft is not uncommon. When I got the quote I asked what was required and the lady I spoke to said only a notarized bill of sale. I made her talk to her supervisor because I wanted to make absolutely sure. She assured me that was the case.
I made a purchase of a bike with a bill of sale and insured it seemingly without any problems. I have purchased motorcycles in the past to run a vin check with highway patrol to verify they were not stolen. This one was not stolen as well.
Made a purchase on a friday, insured it saturday morning, and sunday morning woke up to it stolen out of my truck. Filed a police report and made a claim. The insurance company called me the following monday and took a recorded statement in which they said I needed a bill of sale and an mso. I immediately was enraged and told her that the peson that quoted me said I didn't need a mso. She backpedaled and stated that they would cover it.
Fast forward a month...... Spoke with the claims agent and she told me that she had my claim check but now they do need an mso and the bill of sale is irrelevant. What I needed to do was to get a copy of the mso and only then they could issue the check to the person who's name appeared on it. I know from experience only the dealer where the bike was sold originally have the power to issue a mso. So IF I could find a dealer that sold the bike and ONLY if I could contact an original purchaser and ONLY if he would agree to accept the check from insurance to sign over to me I would be able to recover my loss. In a city of our size, I am truly overwhelmed to try and get all that done. After a day of calling dealerships and searching I have located all involve. The Dealer, Owner and his willingness to do what is necessary. Here's where it gets complicated. He filed bankruptcy a few years ago and the bank discharged the loan. hsbc was the lienholder on the bike. HSBC wont even talk to us. I thought we could negotiate with them for both the lender and me to recover some of our losses but they turned it over to collection. The collection agency will only talk to the purchaser.
Sorry so long. so a couple of questions.
Shouldn't the insurance company be liable for insuring something that they told me they would insure?
The owner hasn't called the collection agency because of obvious concerns of his own. Perhaps he may be in some trouble for selling the bike in the first place.
I found this site and saw some fantastic information. Thanks Brent
I made a purchase of a bike with a bill of sale and insured it seemingly without any problems. I have purchased motorcycles in the past to run a vin check with highway patrol to verify they were not stolen. This one was not stolen as well.
Made a purchase on a friday, insured it saturday morning, and sunday morning woke up to it stolen out of my truck. Filed a police report and made a claim. The insurance company called me the following monday and took a recorded statement in which they said I needed a bill of sale and an mso. I immediately was enraged and told her that the peson that quoted me said I didn't need a mso. She backpedaled and stated that they would cover it.
Fast forward a month...... Spoke with the claims agent and she told me that she had my claim check but now they do need an mso and the bill of sale is irrelevant. What I needed to do was to get a copy of the mso and only then they could issue the check to the person who's name appeared on it. I know from experience only the dealer where the bike was sold originally have the power to issue a mso. So IF I could find a dealer that sold the bike and ONLY if I could contact an original purchaser and ONLY if he would agree to accept the check from insurance to sign over to me I would be able to recover my loss. In a city of our size, I am truly overwhelmed to try and get all that done. After a day of calling dealerships and searching I have located all involve. The Dealer, Owner and his willingness to do what is necessary. Here's where it gets complicated. He filed bankruptcy a few years ago and the bank discharged the loan. hsbc was the lienholder on the bike. HSBC wont even talk to us. I thought we could negotiate with them for both the lender and me to recover some of our losses but they turned it over to collection. The collection agency will only talk to the purchaser.
Sorry so long. so a couple of questions.
Shouldn't the insurance company be liable for insuring something that they told me they would insure?
The owner hasn't called the collection agency because of obvious concerns of his own. Perhaps he may be in some trouble for selling the bike in the first place.
I found this site and saw some fantastic information. Thanks Brent
