Repossession
Insurance

Can a vehicle be repossessed by the lien holder for not having insurance in the State of Maine?

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Wiki User
2006-08-07 12:39:20

Yes, if the contract requires that the borrower carry insurance

coverage. If the borrower fails to adhere to any of the

requirements stated in the written agreement the contract is in

default and the lender has the legal right to recover the

vehicle.


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