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Does an automobile with a lien holder have to have full auto insurance coverage?
Wiki User
∙ 18y ago
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.
Wiki User
∙ 18y ago
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Does homeowner insurance cover damage from a tree falling on an automobile?
No. Comprehensive coverage on the auto does that.
Does home insurance cover damage to visitors car?
No, Home insurance does not provide coverage for automobiles, it does not matter who the automobile belongs too. That's what auto insurance is for. Damage to an automobile would be covered under the vehicle owners auto insurance policy.
Why shouldn't you get automobile insurance as cheap as you can find it?
Auto insurance that's "as cheap as you can find it" generally only gives you the state minimum coverage. You won't get coverage for theft, for instance.
Does American Auto insurance cover traffic accidents?
"Yes, it does. Perhaps the chief purpose of purchasing American Auto insurance (or any automobile insurance) is to seek coverage in the event of a traffic accident."
what's cheap auto insurance for a good price?
The cheapest auto insurance out there right now are Safe Auto, The General, and Esurance. All of these provide low premiums and the minimum state required coverage on your automobile.
What does 'stacking' mean in regard to auto insurance?
Georgia automobile insurance law states that people who purchase insurance may "stack" - or add the coverage together for each insured vehicle - for uninsured and underinsured motorist coverage.
Will an insurance company insure a home that had a fire and it not repaired yet?
No Way. Just like an auto insurance company writing full coverage on a wrecked automobile.
Where can you find quotes for caravan insurance coverage online?
One can find quotes for Caravan insurance coverage online at automobile insurance websites such as Geico. Other auto insurance providers are State Farm, Progressive, Allstate, American Family and Liberty Mutual.
Does an insurance company have to pay the lien holder directly after an auto accident?
An insurance company generally does not pay the lien holder directly. The vehicle owner is responsible for paying for insurance coverage and will often deal with the insurance company themselves after a collision has taken place.
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.
What services are offered by GMAC Auto Insurance?
GMAC Auto Insurance offers more than just automobile insurance. They also insure homes and recreational vehicles. GMAC's automobile insurance covers more than just the vehicle. Coverage is also extended to the occupants in the vehicle, and to any property damage incurred by the vehicle.
What is nonowner auto liability insurance?
This is a type of auto liability coverage that can be purchased when the buyer does not own an automobile. While auto liability insurance is typically said to "follow the car", meaning that it correlates with a particular vehicle, non-owner's coverage "follows the driver". In that sense, it covers the driver irrespective of the vehicle he/she is driving.
