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Yes, If your auto finance contract requires you to have insurance on the vehicle and you fail to meet that obligation they can certainly repo the car for violation of your contract terms.
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∙ 16y ago
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In the state of Texas can the lender repo your vehicle if your auto insurance lasped for 4 months you was told you had to pay full insurance coverage or vehicle will be repoed can they?
Yes they can repo if they catch the insurance lapse. Most financed vehicles have a Full Coverage clause that you signed and agreed to when you contracted to finance the vehicle.
If you voluntary turn back in a financed auto and the auto has been in an accident and you had no insurance coverage what are you libel for?
You are liable for everything. Fixing the car, paying for the car (the balance of the contract) and repo fees.
How to Find Cheaper Auto Insurance in Mississippi?
In that southern state of Mississippi, it is still possible to find cheaper auto insurance. Anyone doing research on the Internet will find that the auto insurance rates in this state are lower than the entire country. However, Mississippi has been rated second in the road fatalities of all of the states. It is also rated second in number of uninsured drivers. Still the Mississippi insurance rates are lower than the national average.One reason for the cheaper auto insurance in Mississippi is that is considered to be a low-income state. Most drivers only purchase the very cheapest insurance to keep them legal. The only problem with that is when something does happen, such as an accident or theft, the deductibles are very high. Auto insurance companies in Mississippi kept the increases in rates down when other states had increased liability rates so that the drivers would not let their insurance lapse. Even though this was done, still many drivers had let their insurance expire.One way to find cheap auto insurance is to be a non-smoker. When combining the auto insurance with the home insurance the rates will be much more inexpensive. Mississippi is another state that rewards a young driver on the policy if that driver has good grades.Any driver who does not drive every day and only once in a while should consider purchasing pay-as-you-drive auto insurance. This type of insurance offered in Mississippi can offer as much as a 50% discount if the driver is safely driving under a limited mileage set by the insurance company. Another common sense way to lower auto insurance rates in Mississippi is to have safety and anti-theft devices such as air bags, daytime running lights, anti-lock brakes, alarms and other devices. It's also a good idea to take a defensive driving course to lower that insurance rate.Keep in mind the hot spots where auto theft happens the most. These cities are Jackson, Memphis, Biloxi, Pascagoula and Hattiesburg which is considered to be the highest risk area. Residing or working in these cities will raise the rates of auto insurance.
A Quick Guide to Understanding Mississippi's Auto Insurance Minimum Requirements?
Mississippi's auto insurance laws are similar to those found in most other states in the Union. This is the case because drivers in Mississippi are required to carry a certain verifiable amount of liability and property damage coverage to cover the most common risks of driving.However, Mississippi's status as a tort state requires drivers to be extra diligent about maintaining proper auto insurance coverage. As a result, here is a quick consumer guide that can help drivers in Mississippi understand how auto insurance coverage they need to purchase to meet state auto insurance requirements.Drivers in Mississippi must purchase bodily injury liability coverage.For example, Mississippi residents must purchase at least $50,000 of bodily injury liability coverage to cover each person who is injured in an accident. At least $25,000 of this coverage must cover the injuries sustained by one person who was injured in an auto accident that is shown to be caused by reckless behavior.Drivers in Mississippi must purchase automobile property damage liability coverageThis coverage must include at least $25,000 of casualty coverage that can be used to pay for vehicle replacement costs and damage sustained to stationary objects. Mississippi's state auto insurance laws also require car insurance providers to offer supplementary casualty coverage that covers theft and non-accident related damage to vehicles.Drivers who choose to disobey these requirements can face fines and other penalties.For example, drivers who are caught driving without proper auto insurance coverage face fines of up to $1,000 and the suspension of their drivers' licenses for up to 60 days. Drivers who continue to disobey these requirements face harsher penalties including possible jail time and community service.Mississippi provides provisions to help drivers avoid these possible penalties.For example, auto insurance providers in Mississippi must issue a valid proof of insurance immediately upon request. This provision was installed to help drivers recover lost insurance cards quickly.Moreover, Mississippi auto insurance providers must also provide information to state and local police about any changes in auto insurance coverage. This provision was originally enacted to protect Mississippi drivers who have recently changed or started their auto insurance coverage.For more details, please contact the Mississippi Insurance Department.The Mississippi Insurance Department may be contacted at 601-359-3569. Residents may call toll-free at 800-562-2957 during normal business hours.
Can reckless drivers get auto insurance?
Yes, reckless drivers can get auto insurance, but it will be much more expensive than drivers who have a clean record. In the United States, all states - except for Virginia, New Hampshire, and Mississippi - require all automobile owners to have minimum coverage in auto insurance.
If your car has been repossessed do you have to keep car insurance on it?
no, but it is recommended. the repo co has insurance and is bonded for this type of situation. you will have to provide proof of repo to your insurance co.
Which companies provide car insurance in the state of OR?
Companies that offer car insurance in Oregon are State Farm auto insurance, 21st Century auto insurance, Nationwide auto insurance, Mercury auto insurance, Farmers auto insurance, and AAA auto insurance.
How far behind on a auto loan before they repo the auto?
3 payments
Does property insurance or auto insurance pay when a auto owner damages his garage with his auto?
Auto Insurance.
How to Get a Good Deal on Auto Insurance in Mississippi?
In the State of Mississippi, there is concern about every driver on the road. They are required to have a liability cover. In fact, this state has implemented insurance verification programs. Through these programs, whenever a driver terminates his or her Auto Insurance with a given company, the state checks this out so as to ensure that the car is given a new insurance policy from another company.The idea is to remove all the vehicles with no insurance from Mississippi streets. Notably, Mississippi State does not tolerate uninsured drivers.Auto insurance in Mississippi is expensive compared to other parts of the country. This fact causes most drivers to scramble in order to find the best deal on auto insurance.Fortunately, there are ways in which one can help maintain the premium as low as possible.The most crucial step is to keep your driving record clean. Driving violations like drinking under the influence of alcohol and speeding tickets enhances the premium for auto insurance.For new drivers, auto insurance is definitely expensive. The only remedy is to keep the premiums as low as possible by performing well in school, since almost every auto insurance company in Mississippi gives Good Student Discounts. Before you buy a car, it is necessary to consult with the insurance agent and analyze how expensive the auto insurance would be. Sleek and faster cars are charged highly on Mississippi roads because of the driving privileges.Drivers who are aged 55 years and above can obtain discounts on their auto insurance if they acquire state approved driver's training revision courses; the seniors may save as much as 10% with a good deal on auto insurance.Next, check the amount of money you can afford to pay in an event of accident or when making any claim. The more you are able to pay, the higher your policy deductible becomes. This also lowers your monthly premium payments.The final step is to make inquiries online. Researching different websites allow you to compare auto insurance rates of different companies. Check out the prices on at least fifteen different companies' websites for you to make an informed decision.Since Nevada State values auto insurance, anybody living there should find a better deal on auto insurance.
Can repo people repo your auto from privet property otherthen yours?
Yes they can, as long as it is the correct vehicle.
Can you sue the lender if they repo your vehicle for being 21 days late?
No. Based upon your lending agreement, you agreed to pay the payments on time. There is NO required "Grace Period" for auto loans. They can also repo it if you don't maintain valid full coverage insurance.
