HomeIf the repo man came and the owner ran off with car then 2 days later the car was wrecked with no insurance what should they do now?
Wiki User
2015-07-15 19:47:38
2015-07-15 19:47:38
What happens now is up to the LENDER. They may or may not want the wreck, but they certainly will want THE MONEY owed on the loan,
Related Questions
If you wrecked it, you will be held responsible for it. And the owner could sue. If they gave you permission, their insurance would probably cover it, but the insurance company might come after you. And the owner would certainly want you to cover their deductable.
Probably not, most insurance companies hold the owner of a vehicle responsible for keeping the vehicle secured. Meaning even if the unlicensed driver took the vehicle w/o permission, the owner should have made certain that such an event could not have occurred.
no, you should have boat insurance separately
If you have full coverage, just report it to your insurer and they will investigate it for you. If not, then you'll just have to find the owner. You can do that at your local police department when you make your accident report.
The insurance policy should be in the name of the registered owner of the car.It is not necessary that he should have a licence.The person who is driving the vehicle should have a valid driving licence.
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