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http://www.autoinsuranceindepth.com/gap-insurance.html

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βˆ™ 2015-07-15 18:33:36
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Q: Does gap insurance cover the vehicle if repo is made?
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Can you be charged a repo and insurance fee when the original owner never notifid you of the repo and drove the vehicle away herself?

I'm not sure what your question/situation is but... The Finance company can do what's called "forced insurance" meaning if you do not have insurance they will put insurance on the vehicle at a hefty cost to you. They can also repossess the vehicle even if you are up to date in payments but do not pay them their insurance rate.... and that money is still owed after the repo.


Can reposession company file a claim with your car insurance company to fix preexisting damage?

If your lien holder repo's your vehicle, they can file a claim against your insurance for damage to the vehicle. The repo company itself would have no claim, because it's not their vehicle.


In the state of Texas can the lender repo your vehicle if your auto insurance lasped for 4 months you was told you had to pay full insurance coverage or vehicle will be repoed can they?

Yes they can repo if they catch the insurance lapse. Most financed vehicles have a Full Coverage clause that you signed and agreed to when you contracted to finance the vehicle.


Can you repo an auto in Mississippi for no insurance?

Yes, If your auto finance contract requires you to have insurance on the vehicle and you fail to meet that obligation they can certainly repo the car for violation of your contract terms.


Who is responsible for a vehicle that was repossessed and wreaked on the way back to the dealership?

who ever was in possession of the unit. I assume the repo company was in possession and if they are legit, They have more than enough insurance to cover any damages.


Can a repo company take your car from behind a locked gate in California?

No one has the right to enter your property to repo a vehicle. I your vehicle is out in the street, then its fair game. If you see the repo man coming but has not hooked up to your vehicle, you legally still have possession of the vehicle. Once the vehicle has made contact with the truck the vehicle belongs to him.


What do you do when repo man is here?

You give the repo man the keys to the vehicle and let him take the vehicle.


What is needed to start a vehicle repo business?

Yoy will need a business license, insurance, a tow truck, a SECURE storage lot, customers- and a knowledge of repo laws in your state. Can of pepper spray is optional.


What happens when they repo your car and they shouldn't have?

If the bank made a mistake they will return the vehicle to you, the repo company is under a hold harmless and work the accounts the banks give them.


If your car has been repossessed do you have to keep car insurance on it?

no, but it is recommended. the repo co has insurance and is bonded for this type of situation. you will have to provide proof of repo to your insurance co.


Can they repo a vehicle after dark?

Yes


Can they repo a vehicle if it is in your driveway?

Yes.

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