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Do you need insurance for an auto loan?

Updated: 8/19/2019
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Wiki User

9y ago

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Yes,, All auto finance companies require that you provide full coverage on the vehicle until it is paid off.

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9y ago
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Q: Do you need insurance for an auto loan?
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Related questions

Does the cosigner on an auto loan have to be on the insurance policy?

By co-signing the loan, they are guaranteeing that you will repay the loan. They do not need to be on the auto insurance policy, but it would be in their best interest.


Can you qualify for an auto loan with no drivers license?

yes you can get a auto loan without a license but you can not get auto insurance with out one and you can't complete the loan closing without insurance.


Minimum auto insurance on an auto loan?

full coverage


Can a cosigner on an auto loan get insurance on the vehicle?

Yes


What is the credit score you need to get a auto loan?

the acurate auto loan you need is at least 750


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.


Coverage on auto insurance when you have a car loan?

Yes, you should get auto insurance coverage when you have a car loan, and even when you don't have a car loan. The law requires it either way anytime a motor vehicle is operated on public roads..


How do you cash an auto insurance check that is made out to you and the loan company?

you need to check first your account and then you get it You will have to take or send it to the loan company. They have the first right to any money from the check to cover the outstanding loan amount.


What insurance covers pay off on car in case of death?

It's called " Credit life insurance". pays off the car in the event of death and is sold by auto finance companies at the point of vehicle purchase.It is a nitch market not sold by typical insurance companies.


How does a 16 year old get an auto loan?

you need to be 18 to get a auto loan,and then you would most likely need a co. signer.


What information do you need to get auto insurance?

Auto collision insurance weiver of deductable


Do i need auto insurance with a license but no car?

you only need auto insurance if you driving. upon buying a car, you should get insurance.