answersLogoWhite

0


Best Answer

IF you plan on getting it back, dont drop it. If you're NOT getting it back, drop ASAP. The lender has coverage.

Good answer.

If you can't afford to get the car back, drop the insurance. You should not have coverage on the vehicle that is not longer in your possession. Let the lender assume the responsibility. Why pay for something you don't have anymore?

User Avatar

Wiki User

โˆ™ 2015-07-16 19:17:06
This answer is:
๐Ÿ™
0
๐Ÿคจ
0
๐Ÿ˜ฎ
0
User Avatar

Add your answer:

Earn +20 pts
Q: How long should you keep insurance on a car that was repossessed?
Write your answer...
Submit
Related questions

How long should an insurance broker keep records in California?

You should keep the records for a minimum of 5 years.


How long should you keep insurance documentation?

At least as long as you have the item(s) insured.


How long should you keep insurance policies after they have expired?

No need to keep them at all unless you are expecting a claim.


Can you keep a car on the drive without insurance?

I would keep it in the garage but as long as you don't drive it you should be fine.


If your car has been repossessed are you required to continue insurance and for how long?

Once your car is repossessed, it is covered by the repo companys and the lenders VERY expensive ins. No need for you to maintain coverage UNLESS you plan on redeeming it ASAP.


When your car is about to get repossessed do you still need to have car insurance on it or can you just take the vehicle off of your insurance policy?

Daleann, take the car to the lender, get a reciept for the car, then drop the ins. IF it got stolen while in your possession(before repo) your LOSS would be much greater without ins. aS LONG AS THE CAR IS STILL IN YOUR POSSESSION, KEEP THE INSURANCE. ONCE THE CAR IS GONE, DROP THE INSURANCE. iT WILL BE DONE AS SOON AS YOU HANG UP WITH YOUR INSURANCE CARRIER.


If you let a friend use an extra car should you cancel your insurance and make him insure it?

As long as the car is in your name, you are financially responsible. Better to let the friend pay for the insurance and YOU keep it current.


How long should you carry insurance to protect your children?

You should carry insurance on your children until they are old enough to get insurance on their own. This is usually when your child graduates college. As long as your child is a full-time student and one of your dependents, then you should be able to carry insurance on them.


How long does Gerber Life Insurance last?

As long as the child decided to keep the life insurance once they reach 18, the coverage lasts their whole life. The Grow Up plan provides customers to keep the insurance as long as they would like to and does not increase fees over the years.


How long after you quit do you keep your insurance coverage?

Maybe a month or 2


How long does a medical practice have to keep insurance remits?

7 years


How long do medical insurance companies keep records?

10 years


Can my husband and i who have auto ins in fl would like to change ownership to daughter wand keep the car under our policy?

It should be fine as long as your insurance covers drivers not listed on your insurance. You may have to put her name on your insurance. It also depends where she is going to live. I think as long as you put her name on the insurance, it will be fine no matter where it is from.


how long should I keep my wax on my braces?

2 weeks to a month


My wife doesn't have a drivers license can that stop me from getting auto insurance?

That shouldn't keep you from getting auto insurance as long as she is not listed as a designated driver of your vehicle. If your uninsured wife should drive and be involved in an accident with another driver, your insurance will not pay.


If your home was lost in a fire and you received an insurance settlement and built a new home on the old basement can you get insurance money if something happens again?

Yes. As long as you keep the premiums paid, once it has been rebuilt you should have the same insurance coverage as before.


How long should it take to get compensated for damages to your car?

Ask the insurance company or your insurance agent.


How do i report a repossessed bike?

If it's repossessed, it's repossessed... there's nothing to report. As long as there's a lien on that vehicle, the lienholder is the rightful owner of it, and can reclaim their property.


How long should you keep your teeth effect band in after your gap closes?

You should keep it in for as long as the dentist that fitted it advises.


Can a tractor be repossessed?

Yes, as long as it has some value


How long should you need to keep a splint on a broken finger?

Answering "How long should you need to keep a splint on a broken finger?"


Contacts-how long should you keep them in your eye?

you should probably keep them in for about a day or two


How long to keep antibiotics?

You should keep Antibioics for as long as it is prescribed. If the Antibiotic doesn't say, keep it for at least a week.


How long should a squier stratocaster last?

as long as you can keep it


How long do you have to file a car insurance claim with Geico?

You should file your car insurance claim with Geico within 24 hours. You should always call your insurance company as soon as you possibly can.