0
How do you determine if you need full coverage when your car loan is paid off?
Wiki User
∙ 19y ago
If the loans are paid in full and you have received the title(s) from the lenders, then it is totally your decision of what amount of coverage to have. Remember, it is now your vehicle 100%. If you can afford the higher coverage why not better protect yourself, family and vehicle? Check other agencies for same coverage but lower rates. Cleaning up your credit may even lower your insurance rates.
Wiki User
∙ 19y ago
Add your answer:
Earn +20 pts
What insurance is need for your RV loan?
Most loan companies will require that you have liability, collision, and comprehensive coverage. That covers you hitting someone else, someone hitting you, and loss due to fire, theft, storm damage, etc.
What does a co signer need?
They need to be fully informed. They need to have enough resources to pay the loan if the primary borrower defaults. The bank will determine if the co-signer meets those financial requirements. Finally they need to be asked: Why are you willing to promise to pay someone else's loan?
How does one go about finding a secured loan?
Before searching for a secured loan, you need to determine what your collateral will be. The first places to check for secured loans are local banks and credit unions.
Where can one find a business loan lead?
Typically, a business loan lead is obtained by a commercial lender or broker. These leads are usually purchased in bulk from information aggregators, who will gather the details from certain public information sources to determine businesses that might be in need or want of a loan.
Are 4506T forms always required on FHA loans?
FHA loans is a Full Documentation loan, and all income will need to be verified.
What coverage should you get for a 2001 car?
If you have a loan on it, you'll need full coverage. If you do not have a loan, I'd suggest liability coverage for price. If you live in a busy city, get full coverage, as accidents do happen. Consult an insurance agent to see what is best for your situation.
Do i need full coverage on a financed vehicle that is garaged and i do not intend to drive?
Yes. Damage could still happen to the vehicle and the loan company or bank will require full coverage.
Do you have to have full coverage?
On a car? If it is old, then no. If it is new, I suggest you get full coverage because it will cost less to fix it than replace it. If you finance any portion of the loan in which the car is having a lien on it, you will need to protect the collateral and the bank will require a full coverage policy.
Do you need insurance for an auto loan?
Yes,, All auto finance companies require that you provide full coverage on the vehicle until it is paid off.
Does full coverage cover medical bills of injured?
the term "Full Coverage" is a layman's term. You will not find this language in your policy. In order to determine if you have Medical Coverage you just need to look at your policy and see if you have Medical or Personal Injury protection. Your policy will indicate such and the limits of coverage available. Happy Motoring
What type of insurance is need when you have lien or loan on a car?
comprehensive coverage
Do you need full coverage insurance on a financed motorcycle in las Vegas?
yuo. financed motorcycle always need full coverage . i bought my gsxr finanaced and had to get full coverage . The dealer ship requires u to get it -_-
What is your responsibility to the loan holder when you have an auto accident?
The same as they were before the accident. You owe the balance of the note loaned you. If you had full coverage auto insurance then you will likely have no need for concern.
If you get an auto loan from the bank do you need full coverage?
Yeah. You need to protect their investment until you pay them off. If you don't have full cverage; you alone are assuming the full responsibility for the remaining balance if the car is totaed; stolen; or otherwise becomes undrivable because of an accident.
Private seller has title of used car that is being paid for by buyer does the buyer have to get full coverage insurance to register the car and get a tag for the car?
In my state you only need to have Liability insurance the get a title and register the vehicle. If, however you have a loan on the car the lender will require you to have full coverage.
Can a car be reposed for lack of insurance in ga'?
YOU NEED TO CHECK YOUR SALES CONTRACT / LOAN AGREEMENT. FOR THE MOST PART IT IS REQUIRED THAT YOU MAINTAIN FULL COVERAGE INSURANCE FOR THE TERM OF THE LOAN. THE ANSWER IS YES, A VEHICLE CAN BE REPO'D FOR LACK OF INSURANCE.
When will a person be required to have full coverage insurance?
usually you only need full coverage if you are financing or leasing your vehicle.
