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Can the bank holding the lien on a car find out if you have only liability and can they repossess if they require full coverage?

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2011-09-12 16:02:37
2011-09-12 16:02:37

Absolutely! The insurance company should be sending the lien holder a copy of your policy and if you are not providing full coverage they will either repossess the car or purchase Lender's Single Interest Insurance (very expensive policies) and add the premium to your loan.

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