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If your lender requires you to have insurance during the loan period, then yes. Also. If you are driving , then yes. If the vehicle is not on the road being driven, then no. But, know that if you just drive the vehicle to your next door neighbor's house and you have an accident (collision), then you better have insurance or you could wind up having to pay a huge fine and/or have your lincese suspended and/or have your prospects for a future car insurance company require you to pay alot more for car insurance.

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โˆ™ 2010-01-20 03:49:41
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Q: If you are making loan payments on a car but never drive it do you still need insurance?
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Is insurance an asset?

Insurance is there in the hope that you will never need it! For instance, having your home fully insured would be an asset if your house suffered a fire and was totally gutted. But, if you never suffer a fire gutted house, your insurance payments are outgoing payments that are not recoverable.


If you car is financed and stolen what is the responsibility of the owner with reference to making payments and how is the process handled by the insurance co What if the car is never found?

The insurance company will pay the lender to the policy limits. This payment will only be made if you have theft coverage and not just minimum coverage. I believe you still have to make the payments, although I am not sure.


In New York State can you exclude a spouse from your auto insurance policy if she will never drive due to a lifelong disability?

As long as you let the insurance company know that you are married and the reason she will never drive the vehicle.


In NJ if you have a valid drivers license but never drive do you still have to have insurance?

Do you own a vehicle that is driven? If so you would want to have that vehicle insured. Otherwise, no, I see no reason to have auto insurance if you do not own a vehicle and NEVER drive.


Do you have to keep insurance on an unused car?

Not necessarily. If you never drive it you don't have to keep insurance. If you do use it, (at least once a month at best), you are required to have insurance as you have to have insurance anytime you are on the road with a motor vehicle.


Does anybody know what could happen if your car was wrecked 50 days after purchase insurance was in-process the person driving it offered to help out in repairs and making payments but to no avail?

First, you should never drive a vehicle without insurance. If you were "in process", you have written a check. If the check was written and the insurance company had accepted payment, you're insured. If that hadn't happened yet, you were driving without insurance. At that point all you can do is become philosophical and say, "stuff happens". You can be grateful that it wasn't worse and people didn't die. At least you can replace a vehicle.


What insurance company provides insurance for a person who never had a drivers license?

There are insurance companies that will write insurance for people who have never had a license. You will need to go see and independent agent who represents many different companies so he or she can find what you need. The key is that a company will write you insurance for a vehicle that you own if you do not have a license but you will be excluded as a driver and you need to list any drivers that may drive you around in your car. This means that you cannot drive the car for any reason and not coverage will be provided if you do drive.


How can you find out if the bank still owns your car if you never registered the car in your current state?

If you possess the title, then you own it. If you've been making the payments, you should know whether or not you've defaulted on them. If you haven't finished making the payments, the financier owns that vehicle.


Does a person have to have a valid drivers license for their car insurance to be valid?

no I knew somebody who transferred her husband's registration and insurance to her name after he died, but she never drove even once in her life (and so was never licenced to drive).


You are 75 years old able never been to drive or know how to drive but am the owner of a car can you purches auto insurance and have your daughter listed as the driver?

Yes, you can.


Do you have to pay insurance if you have a license but are not driving?

No, if you never drive, you don't need insurance. You need insurance if you own a vehicle. And, if you drive someone else's car and get in an accident and don't have insurance it could be a big mess. Call a few insurance agencies and see what they recommend if you plan to drive at all. And, if you do not drive at all, you might want to reconsider the added expense (small though it might be) of obtaining a driver's license when a state ID will satisfy any potential legal requirements for carrying identification.


What happens when you don't pay a child support judgment?

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How do you insure my 95 year old dad's car who does not drive so I can drive?

Call the insurance company and have them add your name. I drove my mother around and used her car for errands for her and never worried about the insurance. I have my own coverage for my car and she had hers, so if anything had happened I was covered. Often your own private car insurance goes with you when you drive another car.


Why you have to insurance?

Insurance is a payment plan for when things go wrong. If you don't have insurance you are going to have to come up with all the money at once. With insurance, you are making payments over a period of time to cover you in the event something happens. Insurance is necessary because whether you are a renter or a homeowner, you will most likely keep all of your most cherished belongings in your home with you. Insurance could never replace the sentimental value of those belongings if lost, but it would at least provide financial indemnity to reduce the financial burden of losing those belongings.


Can you continue to drive car if it makes a grinding noise when making a sharp right turn?

Best to get merchanical attention very soon. Never a good idea to drive a car making silly noises.


Furniture rental business garnish ssi payments?

Social Security benefits can never be garnished. Unless the judgment is for child or spousal support, unemployment insurance, workers' compensation awards, relocation benefits or disability or health insurance benefits cannot be garnished. Garnishing payments made from a retirement plan is also very difficult.


I had a deferred payment and my car was stolen and never recovered. Will my full coverage or gap insurance cover the deferred payment?

Most gap insurance policies do not cover deferred payments. NOTE - do not accept an offer to settle on the deferred payments. This may reflect on your credit bureau that the debt was settled for less than the ballance in full.


How long can a new driver drive a new car without insuring it?

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Can your leased car be repossessed because of no insurance even if you are up to date with your payments?

If the terms of the lease include the requirement that you must provide insurance on the vehicle, and I've never seen a lease agreement that doesn't, yes, they can hold you in violation of the lease and repossess the vehicle.


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.


You cosigned to a car loan with an ex and now he's not making payments and he's out of the state?

The finance company will be coming to you for payments...even if he has the car. They will send repo men after the vehicle as well. Good luck. Never EVER co-sign for anyone.


What are sale proceeds?

If you are not behind on your mortgage payments, most likely we will not be able to begin the Short Sale process. We never advise a homeowner to stop making payments. If you are current on your mortgage but are unable to make your payments anymore, contact your lender. This would be a good time to proceed with a Loan Modification. If you do, however, become behind on your mortgage payments, we can assist www. disappearingmortgage . com you at that time.


Why were 1930 relief payments never in cash?

The relief payments were never in cash because they did not want the people receiving them to use it on luxury's.


If you are carrying medical insurance is it necessary or wise to also get medical payments coverage as part of your auto insurance?

It is not required. Please keep in mind medical insurance on an auto policy only pays in the excess of what your work med doesnt pay.It is a good idea to have the medical payments on your policy because it will also cover any passengers that are in your vehicle if they don't have health insurance. It will also pay bills right away. You never know if you are going to lose your job or have something else happen. It is good to cover all your basis.


What can one do if they are in a car accident and have no insurance?

It is never a good idea to drive without insurance as there are costly penalties if one is caught or involved in an accident. If one is in an accident without auto insurance, their options are limited but they may be able to sue the other driver if they are at fault.