As long as the vehicle is in YOUR name, YOU are ultimately responsible for any damage caused by the vehicle. If your friend has 20K ins. coverage and does 75 or 100K damage, you will be sued as well. good Luck
It depends on the State that you live in. Certainly you cannot drive without insurance at all. You may have a statutory fine for having a registered vehicle without having insurance on the vehicle if there is a lapse in coverage. If you are a repeat offender then you may have a period of time where your license is suspended.
No. You need to contact your insurance company. they are not all the same. Most insurance companies will give you a short grace period in which to notify them of a vehicle change such as a trade in situation. If it's an additional vehicle you have acquired, there would be no coverage until you have contacted your insurance company.
Sure, the insurance follows the car. Most insurance companies are national anyway, so it shouldn't matter in which state you drive. If the vehicle is out of state for an extended period, such as while going to college, the insurance company should be informed. In most states, if you establish a residence or take a job you have to have your vehicle registered in that state within 30 or 90 days and the insurance company should be notified.
An extended auto warranty is an agreement from a warranty company to pay for repairs to your vehicle for a period longer than your original auto warranty. For information on what you can expect from an extended warranty and what the top rated companies are look at http://www.consumerautomotiveresearch.com
The insurance follows the vehicle therefore the person who owns the vehicle is responsible for having insurance on the vehicle and that insurance will cover the loss. I know it seems that the driver should have some responsibility but that is not the way policies are written. The best thing is teach you children never to let someone else drive their vehicle, period. Insurance companies do not like it when their policyholders loan vehicles and they then have unknown drivers driving insured vehicles.
Policies differ, so you should check with your agent or broker. If you have owned a vehicle and already have an auto insurance policy, that will generally cover your new automobile for a period of up to 30 days after you buy it. Once that 30-day period is up, you'll have to talk with your agent or company representative to insure that new vehicle.
You must have insurance on the vehicle as soon as you purchase it. The nice part though, is that, if you already have an insurance policy for another vehicle, or if you are on a family policy and someone else in the family has a car with insurance, and you are listed as a driver on the family policy, that company will most likely cover your new auto purchase for a 15 day period, sometimes even a 30 day period. Check with your insurance agent for exact times as they vary with each company
You get the ticket and your friend may lose the car. Driving in an uninsured car has serious and expensive consequences.You will receive a traffic violation. Your license can be suspended.The police can tow and impound the vehicle. The vehicle can't be released until proof of insurance is procured. The impound fees add up quickly and the tow company can send your car to auction if the fees are not paid within the statutory time period for your state.
It relates to the time period before an insurance policy for instance runs out....you usually get 2-4 weeks, to pay your renewal sum The renewal period of a life insurance policy falls due on quarterly,half yearly or yearly intervals,though a grace period of 30 days is allowed. Where as in medial insurance, renewal period is calculated 12 months from the date of inception. Here renewal date is vital since it can not be extended by any means and the policy will face unwarranted lapsing. It is advisable to renew the medical insurance policy at least before 7/10 days to be in the safer side.
It depends on the owner of the vehicles policy. I would check with them before driving especially if it is something that will be for an extended period of time. The only 2 instances when you would not be covered is if you are purposely excluded from the owners insurance policy or if you are driving a stolen car. I had to find this out in a hard way. They will, if the car owner has given you permission to drive. But if not, they won't and I fell into the second case. A good rule of thumb is that 'insurance follows the vehicle' as far as coverage is concerned. The policy in force on the vehicle involved in a loss will cover the damage to the vehicle itself and whether or not the driver or passengers are covered and to what extent; is all based on the company who insures.
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