Consignment insurance
Anyone have experience selling an RV through one of the major consignment outfits? If so, how did you insure your vehicle while on consignment? Sounds like many of the companies exclude coverage for t...
Forum Discussion
T18skyguy wrote:
At one time I lived in Madison, Wisconsin. I witnessed a consignment business declare bankruptcy, lock the gates, and all the vehicles on consignment instantly became the property of all the lien holders on the business. It didn't matter that the owner had the title, because in the agreement, you actually sign the rights to the vehicle over to them. It wasn't an RV business, and I'm sure there are many fine company's that do it, but be careful. I recall there we're over 30 Corvettes and an equal number of other vehicles lost. It really made an impression on me.
Obviously read the contract but this sounds like an old wive's tale used to scare people away from consignment places.
To the OP: Check the contract and check with your insurance company about coverage. If in doubt, keep your insurance up to date.
