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Do you still need to keep paying insurance in Michigan if you do not own a vehicle anymore?
Wiki User
∙ 10y ago
Well, you certainly don't need AUTO insurance if you don't own a vehicle. Might still carry a personal liability policy if you have any assets to protect, but a college student probably doesn't.
Wiki User
∙ 10y ago
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Vehicle owners purchase insurance from an insurance company by paying a?
The answer for whatever exam you are taking is "premium".
Do you need to keep paying for home insurance when your home is being sold due to foreclosure?
Yes, you need/should keep paying for the insurance until you are not on the title anymore.
Can home owners policy insurance be dropped?
Sure, If you don't need it anymore no since paying for it.
Is an at fault party's insurance company responsible for paying insurance charges for a rental in addition to the rental fee?
No, they do not have to insure your rented vehicle. You have too.
Can my license be suspended for not paying insuranc I placed on someone elses vehicle?
In most states an insurance company must report to the DMV of your state that your insurance is been canceled. This often results in your state suspending your drivers license unless you can prove that you do not have a vehicle, and that the reason your insurance was canceled was because you no longer have a vehicle. The license plate that was obtained for the vehicle must be returned to the DMV. If insurance was purchased for the vehicle from another insurance company, then you must provide proof that you have insurance from the new insurance company. If the actual owner of the vehicle bought insurance from another insurance company, then this should be easy to prove.
If you get into a wreck and you were the one in fault and the other person does not have insurance what will happen to them and will your insurance cover it?
Every state is different. Where I live, if you are the responsible party in the wreck then your insurance has to repair the vehicle that you hit. You will be responsible for paying your deductible to have your vehicle fixed. Also the driver without insurance will be ticketed by the authorities if they are present.
Will at fault insurance buy you a new car after paying your car totaled?
No. They will give you the money for the value of the vehicle and then you are on your own. However, check with your state's Department of Insurance. You might have recourse against the insurance company if you are unable to find a comparable vehicle with the amount they gave you.
What can someone do if they get into an accident with a vehicle they're still paying for with no car insurance?
The only thing you can do is pay for all your damages out of pocket. After all it was your decision to drive without insurance.
Do you have to have insurance full coverage if you are not driving a car that you are still paying on?
Yes & No. You still have to have liability coverage, which is the lowest type of car insurance, if you plan on driving another person's vehicle. Because, several years ago, I drove my friend's vehicle and the brakes went out and I rear-ended another vehicle. My friend did not have insurance on his vehicle, so my license was suspended for three months for no insurance. I advised the DMV that the vehicle wasn't mine! But, they told me that it doesn't matter! I should have had liability insurance anyways, if I was planning on driving someone Else's vehicle!
When paying off a loan. Is mortgage insurance premiums still due?
No, unless it specifically states in the mortgage contract the last insurance premium is to be paid with the loan payoff. If you don't pay it all they can do is cancel your insurance which you don't want anymore.
When you buy a new car does the dealership have to turn in that information to your insurance company?
No, but unless you are paying cash for the vehicle the lender is going to want insurance coverage on the vehicle until it is paid for in case something happens to it. Therefore, the lender is going to want a policy number insuring their vehicle is covered.
Your car was totaled in a cardeer accident the insurance was in a friends name and a check was mailed by the insurance whos check is it mine or his?
Legally, its the friends because the insurance was in the friends name. Insurance checks are meant to be used on repairs to the vehicle or toward the purchase of a new vehicle. So you could try to force the friend to use the check toward the vehicle by taking them to court. Or you can start paying for your own insurance and not have to worry about the loyalty of your friends.
