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I would not think so, but, your lender does require that you carry collision insurance on the car, which is the lender's collateral. It depends on what the note you signed says about this. Read it.
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Should you keep insurance on a repossessed vehicle?
Only if you intend to get it back.
Do you have to have insurance on a repossessed vehicle?
No. It's insured by the repossesor. Matter of fact if he wrecks it he has to pay.
Does buying a repossessed vehicle raise your car insurance?
In this state buying a repossessed vehicle is no different from buying any other vehicle as far as insurance is concerned. The insurance agent checks over the car, takes pictures, checks the odometer, and quotes the rate just like any other used car. Of course if you have one car and you purchase a second car, your insurance goes up.
Should you continue your insurance coverage for a car that was repossessed?
If it's no longer your vehicle, you don't need to insure it.
When a vehicle has been repossessed and taken to the auction does Honda carry insurance on it?
Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.
When a car is repossessed what do you do with the insurance?
When a car has been repossessed the person paying the insurance should cancel it.
Can a disabled person's vehicle be repossessed in Florida?
A disabled person's vehicle can be repossessed just as any other person's vehicle can be repossessed. You must make all payments on your vehicle if you want to keep it.
What documents would you need after a repossession of a car in order to get it back?
To get your repossessed car back you may need proof of residency, insurance, and, other personal information to retrieve your repossessed vehicle back to you.
Must you carry insurance on a vehicle after it was repossed?
If the car is repossessed then that means the bank owns it. So if they own it and they have it, then no you do not need to pay for insurance on it unless you plan on getting it back.
What do you do when your vehicle has been repossessed during an insurance claim in Texas?
Same as any other repossession, CALL the LENDER. Work something out.
If you repossess your car do you have to continue insurance coverage on that vehicle?
I take it you mean, if your car IS repossessed. In that case, IF you dont plan to redeem it, NO. NO car, NO insurance. Once the lender repos the car, they are responsible for the insurance coverage.
Can your vehicle be repossessed if you are awaiting to be paid by the federal government?
It depends on you locatily, but in general, yes, if you are behind on your payment, your vehicle can be repossessed.
