0
When your car is about to get repossessed do you still need to have car insurance on it or can you just take the vehicle off of your insurance policy?
Wiki User
∙ 19y ago
Daleann, take the car to the lender, get a reciept for the car, then drop the ins. IF it got stolen while in your possession(before repo) your LOSS would be much greater without ins. aS LONG AS THE CAR IS STILL IN YOUR POSSESSION, KEEP THE INSURANCE. ONCE THE CAR IS GONE, DROP THE INSURANCE. iT WILL BE DONE AS SOON AS YOU HANG UP WITH YOUR INSURANCE CARRIER.
Wiki User
∙ 19y ago
Add your answer:
Earn +20 pts
Do you have to have a vehicle in your name to get car insurance?
you have to have a car for getting a car insurance No, you can be driving your parents car & be on their policy, therefore you are still insured
Can your boyfriend be covered under your car insurance?
This can be a complicated question. Your boyfriend can and should be listed on your policy as a driver if he lives with you or if he drives your vehicle even just sometimes. A vehicle titled to him cannot be added to your insurance policy under any circumstances and this is because you cannot insure a vehicle you do not own. Even if you live together you must still have separate insurance policies if you each own your own vehicle. If you live together or drive each others vehicle each of you should still be listed as drivers on the others policy.
What can happen if you don't pay a title loan and you still have the car?
The vehicle can be repossessed.
Can you still owe money after your car is repossessed because of the recall?
If it is repossessed, you will owe the difference between the loan amount and what they sell the vehicle for.
Do you have to have car insurance if you drive in California but do not own a car?
If you don't own a vehicle but you do still drive, Then you should get an "Operators Policy', aka " Non-Owners Policy" not an auto policy. All drivers are required to carry financial responsibility whether or not they own a vehicle.
Does your insurance cover a second vehicle when you are still keeping the old one?
You have to get an individual policy for each car you have. If you want to cover two cars, you need to get insurance separately for each of them.
Can you still owe money on a car that was repossessed and resold to another buyer?
yes. When a vehicle is repossessed by the bank it doesn't mean that you stop making payments. You are still liable for the loan.
Can your boyfriend add you and you still keep your own insurance policey?
He can add you as a driver on his policy, but your vehicle cannot be added since a vehicle can only be insured by one company at a time.
If a son who was on car insurance policy now lives somewhere else but drives second vehicle what is best way to handle insurance?
The answer lies in the titleholder of the vehicle. If you are still the titleholder, then you will need to have the car under your policy and have him listed as a driver. If he is the titleholder, he will need to insurance the car under his policy. If that vehicle injure someone or cause damage to someone's property, the other party will sue the titleholder. If you are both titleholder, then I would suggest you sign the titleholder to him.
Can your vehicle be repossessed after the loan and security agreement has expired but you still owe a considerable sum?
Loan and security will always be active against the vehicle. It never goes away until paid or repossessed. Yes, the collateral may be repossessed at any time.
Do you still need to keep paying insurance in Michigan if you do not own a vehicle anymore?
Well, you certainly don't need AUTO insurance if you don't own a vehicle. Might still carry a personal liability policy if you have any assets to protect, but a college student probably doesn't.
Are your insurance policy active?
You would need to contact your insurance company and ask them if your policy is still active.
