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If your car has been repossessed do you have to keep car insurance on it?
Wiki User
∙ 14y ago
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.
Wiki User
∙ 14y 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.
What do you do once your car has been repossessed?
I have a welding machine on the truck they repossessed can they keep that?
What do you do about your car insurance once your car is repossessed?
Cancel your policy.
Should you cancel the car insurance on a repossessed car in NJ?
yes
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.
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.
Should you cancel the car insurance on a repossessed car in Florida?
Yes of course you should!
Can a car be repossessed if I don't have insurance?
yes by doing the confy stuff
Does a divorce decree keep a car from being repossessed?
No
Can the car company that repossessed your car keep your personal property in it?
No Way. Its Your Stuff !
My girlfriend canceled my insurance and called the car lot My car was repossessed to get the car back they want to be paid off in full what are my legal rights do I have any options?
If you owed money on the car (which is probably why it was repossessed), you need to pay what they demand. Check the paper you signed when buying the car if you think they are 'demanding' something different than you signed. Your girlfriend was smart to cancel the insurance, since a repossessed car does not need insurance. You cannot sue your girlfriend for calling the car lot, or for cancelling the insurance, because you cannot show DAMAGES to yourself.
Does insurance help with rental when car repossessed?
I've never heard of an insurance policy that covers repossession. Remember, the car doesn't actually belong to you -- it was repossessed because you failed to honor the contract of repayment of the loan to buy it.
