Does an automobile with a lien holder have to have full auto insurance coverage?

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Obviously all cars/drivers need to have some legal minimum insurance, generally only liability (essentially protecting others body/property). Not collision, which protects your own property. Without the later, wreck it you lose it. Because a car has a lien, which means it is pledged as security for a loan, does NOT mean it needs to have more insurance in itself. However, virtually any lender will require you to have insurance adequate to cover the loss of the asset you have pledged...since if you wreck it he doesn't want to own, or try to collect what is owed, against a wrecked worthless car.
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What is full coverage Auto insurance?

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What do you do if you have full auto insurance coverage and your car breaks down and is totaled?

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Who is a lien holder with a financed auto?

Answer . If the question is "who is a lien holder with a financed auto" then the answer is usually: the party who loaned the debtor the money, that is, the bank or lender. For example, if you financed a Hootieville ZX through Holeinwall Bank, then the good people at Holeinwall are the lien holder (MORE)

What is a full coverage auto insurance?

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Can you get full coverage auto insurance for a totaled car?

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Full coverage auto insurance?

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When would you not carry full coverage auto insurance?

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Does full coverage auto insurance pay off a lien?

The insurer is required to compensate you at Fair Market Vallue. This usually will pay off any remaining financed note unless you greatly overpaid for your vehicle. There are times when you can owe more on the vehicle than an insurer is willing to pay. Bare in mind that it is not the fault of the In (MORE)

What is liability coverage on auto insurance?

This means that if the accident was your fault, your insurance will pay(up to an amount that is on your policy) for the other property and persons involved in the accident. Liability insurance does NOT cover your vehicle damage..

What are auto insurance coverage requirements?

It varies by state to state. It also depends on if your state laws are at-fualt or no fault. In Colorado we're a at-fault state, which means you only required to carry liability. These limits are 25/50/15. That means 25k per person and 50k for the total accident. That covers hospital bills, if they (MORE)

What is automobile liability insurance coverage?

Automobile liability insurance coverage is one of several types of autobile coverage. It is required by the law of most US jurisdictions in order to register a vehicle for operation on public highways. It is often also required to be shown as a condition of obtaining a driver's license. Automobile (MORE)

How much is full coverage auto insurance on a 2003 ford f150?

In this state not only does car insurance vary by county but it can also vary by the part of the county where the car is parked overnight. I would hesitate to quote you a rate without knowing a whole lot more details. Besides, I can not quote a rate out of state. An insurance license in this state i (MORE)

How do you check your auto insurance coverages?

The best way to review your coverages is to contact your Insurance Agent. Your agent can go over the terms and scope of your Insurance Policy with you and answer any question you may have. Answer: You can find your insurance coverage after determining your damage. You must also be familiar wit (MORE)

Do you have to have full coverage auto insurance?

No, "full coverage" auto insurance is not required by law. All states require some level of car insurance that covers costs if you are responsible for an accident. That would be called liability insurance and the state minimum coverages dictate how much of it you need to buy. That said, "full (MORE)

What are the coverage characteristics of auto insurance?

Auto insurance usually has several components. Not all coverages are purchased by every applicant, but the basic coverages are as follows: Liability insurance provides coverage to the named insured and others who are identified by name or by relationship to the named insured in the policy for neg (MORE)

What are coverage characteristics of auto insurance?

Auto insurance usually has several components. Liability insurance is the limit of how much the insurer will pay on your behalf to someone you injure while driving. Property damage is the limit of how much the insurer will pay on your behalf to someone on account of damage to their property yo (MORE)

What is personal coverage auto insurance?

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Will full coverage cover the insurance holder if they were injured?

If a motorist is injured by an uninsured motorist and the driver has uninsured motorist coverage the insurance carrier will provide coverage, if certain information is obtained on the uninsured driver. If a driver has Medical payment coverage or PIP coverage he or she and any passengers will be cove (MORE)

Does full coverage auto insurance cover auto repairs?

yes full coverage insurance covers auto repairs. It also covers maintinance and gas costs. Thats right fuktard, full coverage insurance is the only expense you will incure while driving. In some cases they will even pay speeding tickets for you!

What is the difference between full coverage auto insurance and comprehensive and collision insurance?

This is a good question. Full coverage was a term that used to be used in insurance to describe a policy that had liability, comprehensive, collision and any other endorsements that the client wanted such as rental coverage and whatever else. Due to it being the day of suing over everything we don't (MORE)

When is the best time to drop full coverage auto insurance Vs collision comperhension?

You have to weigh the value of your vehicle versus the cost of the insurance. If your vehicle is still financed you are required to keep full coverage on the vehicle. Another good option is to drop collision and keep comprehensive on the policy. Collision is if you hit something or turn it over a (MORE)

Where can one apply for full auto insurance coverage in Dallas?

You'll find a large variety of auto insurance sellers in Dallas, Texas. Nationwide companies like Allstate and State Farm have offices here, as well as smaller companies like Amador and Acom. Shop around to determine which auto insurer is right for you, your vehicle, and your family.

What is full coverage auto insurance requirements in California?

When a vehicle is financed, you must have comprehensive, collision, and liability or 'full coverage' to protect the bank. I am not sure what you mean by 'requirements' other than that. You can also buy "GAP" insurance, for if something happened and your car is totaled and you owe more that it is wor (MORE)

What companies offer full coverage auto insurance?

Full coverage auto insurance is offered by companies like Nationwide, Cars Direct, AXA Insurance, New York Motor Insurance and AAMI. These companies also have insurance services for other products.

What coverages do you have to have on a auto full coverage plan?

There really is no such thing as full coverage and insurance companies certainly do not use this term. It is an old term that was used to mean you had physical damage coverage in addition to liability on your insurance. Normally it meant that you had comprehensive and collision coverage. Now there a (MORE)

Does your full coverage auto insurance cover vehicle in tow as well?

The vehicle being towed has to have physical damage coverage itself in order to be covered for damage. A vehicle towing another vehicle does transfer the liability insurance to the trailer or object it is legally towing but the physical damage done to the object being towed does not transfer.

What auto insurance coverage do you not need?

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