You can't just cancel a claim. It is basically up to the Insurance co. to either aprove a claim or deny it. However, it the vehicle was stolen, it is your resposibility to provide a police report proving that the vehicle was indeed stolen.
Of course not! It wasn't stolen or wrecked, it was taken from you for failure to pay on the loan!Be sure to cancel the insurance.
No, as long as you have let your insurance company know they car is stolen.
Cancel your policy.
No.
When a car has been repossessed the person paying the insurance should cancel it.
i'd say the insurance company owns it
It belongs to the insurance company
yes
It is not going to make a difference if you cancel your insurance or not. If you drive a car, you must have car insurance.
When your car is 'stolen", you file a stolen car report with the cops. Then your INSURANCE will pay off the loan. The lender will deal with the insurance co. and alls well. You dont have a car, but no payments either. BTW, the insurance co. HAS to be sure its stolen or they wont pay the loan off.
If you try to get theft insurance after the car is stolen you will go to Jail! The insurance companies have no sense of humour about FRAUD! Penalty for Insurance Fraud in the U.S. is up to 20 years in prison.