Quote:
Originally Posted by MyFutureSelfnMe
As far as I know, and this may depend on the state, your insurer has to pay out if you tell them the truth, i.e. the correct VIN number, storage location, etc.; it doesn't matter if the car is federally legal. Again this would be my first concern. Further, I believe in NY State, they have to pay out liability claims whether you lied to them or not, the worst they can do is drop your coverage afterward.
It would be nice to have an insurance expert on the forum to confirm/deny this.
|
Sorry, but I've been busy over the past couple of weeks and moving my office, but I'll step up to the plate. Insuring a 340R should not be a problem; state or federal legality is not the insurer's concern.
With respect to lying to an insurer, that is a bit stickier of a wicket than you've been led to believe. First, (at least in FL), it is a third-degree felony. Second, while the company may pay a claim and probably will (whether required by law or not - it's not the injured party's fault you didn't tell the truth, after all), they will likely come after your a$$ for the money since your misrepresentation obligated them to do so in the first place. Ultimately, insurance is a contract of utmost good faith; if you acted in bad faith, that's on you - whether the company would be entitled to treble damages
and, unfortunately, I don't have time to research it right now.
Hope this at least gives some insight as to insurance aspect of the 340R issue - assuming it hasn't already been answered later in the thread that I haven't already read.