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If your car has been repossessed are you required to continue insurance and for how long?
Wiki User
∙ 8y ago
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.
Wiki User
∙ 8y ago
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When a car is repossessed what do you do with the insurance?
When a car has been repossessed the person paying the insurance should cancel it.
If your car has been repossessed do you have to keep car insurance on it?
no, but it is recommended. the repo co has insurance and is bonded for this type of situation. you will have to provide proof of repo to your insurance co.
What do you do when your vehicle has been repossessed during an insurance claim in Texas?
Same as any other repossession, CALL the LENDER. Work something out.
Can your licenses be suspended if you were the person supplying insurance on a repossessed car and you cancel the insurance?
Yes it happened to a friend of mine he wasn't even aware that the insurance had been cancelled and when he got stopped at a check point they told him that his lincence had been suspended because he did not have insurance he paid a huge fine.
Is a creditor allowed to continue calling debtor after a vehicle has been repossessed but not sold?
Yes. Even after the vehicle is sold, you'll still owe them the remaining balance of what you borrowed, and they'll continue to call.
When a vehicle has been repossessed and taken to the auction does Honda carry insurance on it?
Not only does Honda have insurance on the vehicle, so does the repossession company, the storage company, the transport company, and the aution agency.
Can a loan company in California have your car repossessed if you haven't been able to carry car insurance?
YES, if you are in DEFAULT of the contract (NO ins. coverage) they can repo.
What do you do once your car has been repossessed?
I have a welding machine on the truck they repossessed can they keep that?
Is every driver required to have an sr22?
Every driver is not required to have an SR-22. The SR-22 is only needed for those individuals that have been caught without insurance and are not required to have this added piece to their insurance.
What is the required car insurance for bad drivers in Pennsylvania?
All State. But seeing as how you have been in three accidents and them all being your fault, they will continue to be the most affordable but they may just increase your monthly. All plan a little more.
Can mandatory renter's insurance be required months after a lease has been signed which does not include it?
You should have it anyway!
Does a creditor have to notify you if repossing a car?
In some states yes. In some state the lender is not required to give any notice at all before or after. In some states, the lender is only required to give you notice after the vehicle has been repossessed.
