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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?
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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 do medical insurance companies keep records?
10 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 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.
