Does an automobile with a lien holder have to have full auto insurance coverage?
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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PLPD stand for public Liability And Property Damage, it is simply liability insurance with regards to physical injury along with property damage, this specific pays off when you find yourself with car accident and also cover property damage one other parties accrues on account of the actual acciden…t, No Fault Insurance insures 1st party statements: damage to your car and also losses because of virtually any accidental injuries to your personality, No-fault insurance policy enables you using with your car insurance company with no need to demonstrate that this other social gathering has been at fault Full Coverage Auto Insurance covers everything accidents, repairs, fuel, maintance, and even speedig tickets (MORE)
How do you drive a car that was bought if there is no insurance on it but full coverage on your current auto?
I'd call my agent just to be sure, but most policies will cover an additional or replacement car for a reasonable amount of time.
If your friend takes over your payments while the car remains in your name can he get full coverage insurance and list the lien holder you make payments to?
Answer . \nYour name must be on the Title or Loan in order to get car insurance under your name. Otherwise this is considered Insurance Fraud. It is punishable by the law.
If you have full coverage auto insurance and you damage another vehicle and not yours do you have to pay a deductible?
Answer . \nIt is the liability portion of your auto policy that pays for the damage to another vehicle that you hit. There is no deductible to fix the other car.
Full coverage auto insurance is a policy which covers first party and third party injury to the body or damage to car. It covers physical damages to the car if it has been leased at the time of accident, death or physical injury to the body of people involved in the accident, also property damages c…aused by the insured person's car to someone's property, (MORE)
Automobile insurance, in most cases, does not cover mechanical breakdown. If your car is not worth repairing from a mechanical breakdown and you are able to replace it within a few weeks to a month I would suggest keeping your insurance policy active. This is to avoid having a lapse in insurance cov…erage which could result in higher insurance premiums when you get another car. Answer Your car breaking down, and your car being totalled are 2 separate considerations. If your car mechanically breaks down, there is no coverage. If the car has been totaled in an accident, there may be coverage. I guess, more specific info is needed. (MORE)
Answer . Minimum coverage is the minimum amount of insurance required by law. Full coverage is the full package from the insurer, insuring everything they offer to cover.
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…s on your financed vehicle. They have the right, where allowed by law, to sell their interest in your contract to another lender or interested third party, much the way mortgage companies sell home loans like they were hot cakes on a cold winter morning. In short, the lien holder is the person who owns control of the loan (and actually the vehicle) until you pay it off or it gets repo'd and sold. (MORE)
Will your full coverage auto insurance pay for your car if you where drinking and driving and had an accident?
Answer . They're pretty much obligated to do so, but recognize that you will probably be dropped from coverage as soon as they discover the DUI on your record.
Their is no such thing as full coverage in legal terms. What people refer to when they say that is Physical Damage Coverage for a vehicle. What physical damage coverage breaks down into 2 parts. Collision Coverage: Does include a deductible, covers the vehicle from damage resulting in a person being… at-fault in an accident, and damage has occurred to the vehicle in which it has to be repaired or replaced. This does also protect the vehicle if an accident or damage results from a uninsured motorists or under insured motorists Comprehensive Coverage:(also known as other then collision) Does include a deductible, covers the vehicle from damages due to vehicle that are out of control of the insured. This would be from weather, vandalism, theft, hitting an animal, and etc. Remember, insurance company's insure vehicles of the actual cash amount at that time. If you have a collector car, you would to get collector car insurance, in which their is a stated amount. (MORE)
Has the vehicle been repaired and inspected and title cleaned up? If so no problem, if not I suppose you can if the company you are requesting ins. from doesn't do their homework. But I promise you should you have another loss, this will resurface.
An insurance company generally does not pay the lien holderdirectly. The vehicle owner is responsible for paying for insurancecoverage and will often deal with the insurance company themselvesafter a collision has taken place.
"Full coverage" doesn't actually exist-but there are lots of auto insurance options you can choose from to help you feel well protected. When people say full coverage it usually means that they have a combination of insurance types that result in you being covered in almost every situation. This cou…ld include liability insurance, comprehensive insurance, uninsured motorist insurance, bodily injury protection and many others. (MORE)
Do insurance companies contact the lien holder if insurance is cancelled on an automobile or motorcycle?
Yes, they do let the lienholder know when it has been cancelled or if the full coverage has been cancelled.
If you own a car outright and have paid off loans used to buy it, you are no longer required to have full coverage insurance for it. At this point, it a personal choice. If your car has worth that you cannot afford to lose in the case of an at-fault collision or theft. On the other hand, if the vehi…cle is older or not worth so much, it may not be worth it to pay for full coverage insurance. (MORE)
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…surer if a consumer makes a vehicle purchase agreement in an amount greater than the actual vehicle value. (MORE)
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..
Can you sue an auto insurance company for not providing you with collision coverage knowing that there is a lien holder on your car when you were in an accident?
No, why should they pay for your ignorance? You didn't know you needed collision coverage on a car you owe money for? And then you want to sue them for your ignorance? I'm guessing you are young and feel entitled to everthing, and if you mess up its someone else's fault. Good luck to you, and grow u…p! (MORE)
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 …were to sue you(attorney fee's and court fees, etc), and lost wages and whatever else you might be held responsible for. 15k total property damage. Remember liability only covers damages to a 3rd party. (for example: the person you hit and you were at fault). All other coverages are optional. Such as Medical Payment's, or also known as P.I.P. or personal injury protection. Physical damage coverage for the vehicle is also optional along with towing and rental car reimbursement. (MORE)
No, unless it is part of a collision, theft, or vandalism. This is assuming you have those type of incidents covered. Typical auto insurance (even full coverage) does not cover normal wear and tear.
Is it the responsibility of an insurance company to notify the lien holder on a vehicle if any change in coverage?
Yes, they are required by law to notify your lien holder of any change in 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 …liability insurance is intended to cover the negligent acts or omissions of a driver in the operation of the covered motor vehicle. Depending upon whether it is property damage liability coverage, bodily injury liability coverage, or both, it generally covers the correlating kind of damage sustained by the person who was not at fault. In that sense, it is considered to be "third-party" coverage in that it does not pay for the damages sustained by the insured person. Another aspect of automobile liability coverage is that if the aggrieved party makes a claim against the insured, such as by filing suit, the liability insurer defends the insured by retaining an attorney to defend the insured. The insurer pays the attorney, but also has the right to control the defense, including by settling the claim. (MORE)
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…s only good in this state. If you purchase automobile insurance in this state, it is good in this state and in all of the United States, Canada, and in that part of Mexico within 50 miles of the United States border. If you go anywhere else, you will need to purchase additional insurance. (MORE)
In most cases, as long as the policy owner give permission, then the policy will cover anyone who drives the car. There are exception for those who are specifically restricted by the policy to drive the vehicle.
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…h your entitled insurance coverage mean what are the things that are included in you insurance coverage. You can determince your insurance coverage by completing the docs required for the insurance claim. A detailed procedure link for determining and claiming of insurance is submitted in "Related Link". (MORE)
Some people use the term "full coverage" to imply that the car is covered for comprehensive and collision coverages.
Third party insurance only covers the property of the other person(s) involved in an accident, not your car. Full coverage insurance (or comprehensive insurance) also covers your car if you damage it.
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 …coverage" does not actually exist and the phrase generally refers to buying a combination of several insurance types to ensure the most protection. (MORE)
It depends on the company and policy. Some will deny it for "operating out of territory". Others will cover it and then non-renew the policy for "operating out of territory". There is no way to say for sure as it varies so much from company to company.
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…ligent acts or omissions while operating the insured vehicle. Stated otherwise, if a covered person is legally liable for causing damage to another in the operation of the insured car, the insurer will pay those damages. Because the damages are payable to a third party, liability insurance is often referred to as "third-party coverage". Liability insurance may be for bodily injury or for property damage, and the policy will specify the amount of coverage that is available for each type of damage. Some policies of commercial auto insurance have "combined single limits", which meld bodily injury and property damage coverage into a total available limit. Medical Payments / Personal Injury Protection (PIP) is a form of "first party" coverage because it pays expenses incurred by the insured. Specifically, it pays a portion of the medical expenses and lost wages insured by the insured and others specified in the policy and/or by statute without regard to fault for the collision. The payments may be subject to a deductible. Under-insured / Uninsured (UM) is designed to compensate the named insured or others designated in the policy by name or by their relation to the insured, for bodily injury, and the effects thereof, if the at-fault party did not have bodily injury liability coverage. Because it effectively takes the place of the adverse party's liability coverage, the damages recoverable by the insured or other person to whom the coverage applies may be reduced or eliminated according to the rules of comparative or contributory negligence to which the jurisdiction adheres. (MORE)
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…u cause while driving. Medical Payments / Personal Injury Protection (PIP) pay medical bills up to the limit of the insurance. Fault is not considered. Underinsured / Uninsured (UM) insurance is there for the benefit and protection of the insured in case someone else is at fault and causes injury to the insured. This is very important insurance. (MORE)
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The personal coverage of the insurance depends on the companies. Some companies they cover financial security in case of vehicular accident, which you can use to pay for hospital bills. It is best to be insured, one company that has affordable rates and best rates auto insurance is the insurance60 v…isit them now. (MORE)
Yes, full coverage auto insurance is required for auto financing. This rule protects the bank if you have an accident.
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…red by the drivers auto policy Medical payment coverage. (MORE)
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… use the term any more because too many attorneys have convinced people that full coverage had to mean every possible coverage that there is and then some even though the person knew what they bought. No individual responsibility for reading the policy or at least the declarations summary page, just sue. So now we don't say full coverage any more, we name each coverage separately. (MORE)
The easiest way to look up full coverage auto insurance is to look up through a phone book on insurance companies and there should be a listing right there.
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…nd comprehensive is everything else including animal collisions and broken glass. The higher premium is on the collision. (MORE)
In order to find cheap but full coverage auto insurances one should first check different direct car insurance copanies like for example "DirectGeneral" or "DirectLine" (for the UK).
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.
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…th, the GAP will make will make up the difference (MORE)
Full coverage auto insurance will be available from all the major insurance firms. Allstate, State Farm, Geico, and Progressive all offer it. Full coverage is more expensive.
Full coverage auto insurance covers everything. If the car is totaled they will will replace it. Liability auto insurance will only cover medical bills, and not the car if it is totaled.
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.
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…re many different coverages that you can add to your policy but still if you buy everything that is available it still doesn't mean that every instance that comes up you are covered. (MORE)
The company Nationwide, (of which their moto is 'On your side') explains in detail the differing types of motor cover. Full coverage can be bought from this company.
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.
All coverages offered in an auto insurance policy have a place and needs for some people. This is certainly not to say that everyone needs every coverage. What you need is a good agent that can explain the available insurance coverages and can help you decide which ones you need an which ones you ca…n do without. You can sit down and evaluate the costs involved and the benefit to you if something happened so that you can decide on an educated basis what is best for you and your family. (MORE)
You will be covered for just about anything but still asked fordeducible usually if you are at fault