answersLogoWhite
Repossession
Auto Insurance

Do you have to keep your vehicle insured if it is going to be repossessed?


Top Answer
User Avatar
Wiki User
2015-07-15 18:37:55
2015-07-15 18:37:55

MOst likely your contract calls for you to insure the car. For your own protection, you should contiue the ins. coverage.

Related Questions

User Avatar

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.

User Avatar

Only if you intend to get it back.

User Avatar

Keep driving it. Keep it insured. Maybe someday they will figure it out; so make sure you have an alternate means of transportation. I have a car that was "repossessed " in 2004. Still have it. Just want to get rid of it now. That is a REAL question.

User Avatar

no,because it is your property and the car really wasnt,so you should get your stuff back.

User Avatar

You can only keep the vehicle under two circumstances: (1) sign a reaffirmation agreement and keep making payments; or (2) redeem the vehicle by paying of the balalnce. If you fail to do either, they lender can get permission from the bankruptcy court to repossess the vehicle. In some states, such as Missouri, you may keep the vehicle if you continue to pay on it.


Copyright © 2020 Multiply Media, LLC. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Multiply.