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za Germans are angry at me!

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enfield

Senior member
Hi - I got a letter from BMW today. As you guys know I had leased their car. They were most displeased because after I put their car into storage I had changed (not dropped) the insurance to reflect the fact that the car was in storage. BMW FS felt that the coverage was below minimum and asked me to fix za problem. They were willing to let me drop collision as long as the car was stored but everything else HAD to stay on including liability in case I parked a stored car into someone's living room while on a joyride!!

Anyway - I found out that the collision only costs $40 a month. So - I am putting the full coverage on and the car is coming out of storage. I am now going to put the car through "Normal Canadian wear and tear" and salt the engine and leave salt stains on the carpet in a "normal Canadian wear and tear fashion" :D

Seriously - I was taking good care of their car. They are such a pain that I will treat this car as any other car and let them sell it when I walk away in September 2009. They would have had a mint car that had not been driven in winter. No such luck now!!

Za Germans are happy and I will give them a salted "normal Canadian wear and tear" BMW back :D
 
That's ridiculous, who are they to tell you what to do. Dont blame you for taking it out of storage if they forcing you too!
 
enfield said:
WLH, it wasn't the insurance company.... BMW Financial Services made the demand because it is a lease!!
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My mistake... :oops: but insurance companies.... :headbang:
 
How did they find out? Do they do random checks for insurance coverage?

I suspended my collision coverage also in November and the car sits in the garage. By doing so I'm saving something crazy like $200 per month.
Is this a Canadian problem?
 
rabman5, they were willing to let me drop collision only.

According to my understanding since the car's owner is still BMW (leased car) - they get notices of change in insurance....

Bottom line - I pay $210/month for the coverage I normally carry. I had dropped it to theft, fire, natural disaster (things that happen in a stored car in a garage) etc. and that dropped it to $25/month. BMW inisists that even for storage everything else such as liability etc. also be active bringing the total to $170/month. I would save $40 for dropping collision. I decided to spend the extra $40 and give them a salted car in September 2009. I can be vindictive!! I am happy :D :D :D :D
 
enfield said:
I am now going to put the car through "Normal Canadian wear and tear" and salt the engine and leave salt stains on the carpet in a "normal Canadian wear and tear fashion" :D
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You mean...like :wkr:

You're sick, enfield.
 
I don't blame you, enfield, I had my old vehicle stored away while deployed for 6 months and had to carry the same insurance :( Even changed insurance companies one time and "neglected" to inform the bank, and they tried to charge me with their insurance rates, since I had "apparently discontinued my insurance" .
 
Not that I'm defending them or anything, but it's still BMW's car and you probably agreed to a minimum coverage. I don't know about in Canada, but the lease agreement I signed in the US clearly states:
Required Insurance. During the term of this Lease and until I return the Vehicle, I agree to maintain the following types and amounts of primary insurance: (a) personal liability for bodily injury or death to any one person for not less than $100,000 and for any one occurrence for not less than $300,000; (b) property damage liability for not less than $50,000; (c) comprehensive liability, including fire and theft, for the Vehicle's actual value (payable in cash and not by a replacement vehicle) with a maximum deduction of $1,000. The coverages will name you as an additional insured and loss payee. I will provide you with at least 30 days advance notice of cancellation. You have the right to endorse my name on any insurance check of settlement you receive. You also have the right to speak to my insurance company about my insurance coverage.
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Always read the fine print. :poke:

Don't let it get too salty or they'll probably try and get you on the Excessive Wear and Use paragraph. :wink:
 
See, remember I told you earlier you would not manage to keep the car inside all winter? :)

If it's any help, banks and money lenders are no better. I changed insurance companies this month and the new insurance company had forgotten to send a note to the bank (where my loan is) informing of the change of company. So they only got a note from my earlier company stating my relationship with them was finished. Promptly I get a letter stating I have a week to provide a new insurance or else they would file for an immediate forced payback of the complete loan and also draw up a temporary $500 MONTHLY insurance.
 
How common are car loans over there then? Something I have never even considered ...
 
Given the high car taxes here (on a Z4M over half the price are taxes to the government), I think having a loan for car is common here.
 
RCNet, you are right. I am not defending them either :D !! Should have read the fine print. No biggie. Wasn't really complaining - just wanted to other to know....

I will make sure I do not salt it up beyond normal wear and tear :thumbsup: :thumbsup:
 
Enfield,

:rofl: I didn't even bother trying to change mine - Checked the lease agreement - In addition I've had it out (albeit only once :( ) this winter.

My issue is the fact I need to pay full coverage on two cars because my wife has a drivers license? She has her own vehicle and will never drive either car of mine - I can only drive one at a time - at the end of the day, if collision is such a small %... oh well.

How come you're paying $2520 per year? Is that for both vehicles?

I pay

$1,650 for the Z4M (Purchased $70,000 - Top Speed ~ 175mph)
$1,350 for the Saturn (Purchased $15,000 - Top Speed ~ 120mph)

Something does not add up here...
 
Caddyshk, I am a year or 2 younger than you and am single. That is for one car. For the FX45 I pay 1200/year. I, too, have to pay the full insurance for both cars even though I can only drive one at a time! I do not have a wife. Since she does not exist she goes not have a driver's license :D

I have no points on my license but I did have a ticket last year for doing 55kph in a 50 zone. I paid it because there were no points & the cost was 40 or 50 bucks!! However, I should have fought it since it still showed up as a speeding ticket :cry: - the insurance company says that they did not increase my rate for that....
 
Insurance in Canada is ridiculously high. 3~4 years ago I was paying $5K CDN a year for a 2.5i in B.C.. Of course it didn't help that ICBC was the ONLY auto insurance company in the province so it was monopoly. At least back then, when people got traffic tickets, insurance wouldn't go up and would just stay the same no matter what. But I heard the rules have changed and now it's more like in the U.S.; you get a ticket, your insurance premium goes up.

Right now I'm 26, single, and I pay less than $1600 per year for both my '06 Z4M and my '05 G35 coupe with Geico. 0 at-fault accident. 0 traffic ticket (on record anyway).
 
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