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Is a person required by law to insure his or her house and car?
Wiki User
∙ 16y ago
Most places you are required to insure your car to protect anyone you may hit or injure. Most mortgages require you to insure your house. If you do not have a mortgage there is no requirement, other than stupidity.
Wiki User
∙ 16y ago
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If you Co-sign auto loan and the person defaults on the loan- can the finance company take your house?
No. If you cosign on a car loan and the person defaults, the finance company can not take your house in this state. After the finance company seizes the car, both you and the other person would still owe the unpaid balance of the loan.
Does cosigning an auto loan make you responsible for insurance?
Yes, you are responsible If the person you co-signed for is behind in payments and the insurance coverage expires you are responsible to insure the car until it is sold or the person gets the payments caught up and pays the insurance.
In NJ can you be added to title of car with the banks permission to register and insure the vehicle but not be on the loan?
Is the bank really going to agree??
Are there any negatives to a married couple having only one person in the marriage on a home loan?
Yes there are... if the person that is on the mortgage dies in a car wreck or something then the spouse will have a difficult time claiming the house unless the house was put in a will to the other who isn't on the mortgage. The house could go in default of payment and the spouse not on the mortgage wouldn't necessarily know about it.
To study the wage of raising a loan of a car or a house?
check your monthly to buy a car
Is it possible to insure a car that doesn't belong to you?
If you insure it in the name of the person who owns the car, yes.
Do you insure the car or the person?
You insure a car for a person or persons, so that in the event of a accident with that car, insurance can be claimed only if a named driver on the insurance was driving at that time.
Are you required to have auto insurance on a car that you dont drive?
If the car if financed, the lender will require you to insure it. If you own the car, and don't drive it, you are not required to have insurance.
Does car insurance insure the car or the person?
Commonly, the car, but, it can go either way.
Who insures car titled in some elses name?
You must have a financial (insurable) interest in a car in order to insure it. It works the same way with home insurance. You must own the home in order to insure it. Thus, whoever owns the car and has the title is the only person who can insure it.
What if you have no insurance on your car that was a hit and run?
Unless the person that hit you is found, you are responsible for the damages (just like if someone threw a brick through the window of your house). Always insure your car. If you are not going to drive it, buy garage insurance
Can you insure a car in Texas with an Australian driver's license?
you can insure a car with no license
Do you have to legally insure yourself and your car in Florida?
Yes there is a minimum coverage of personal injury protection and property damage that you are required to have.
Does switching a car title do anything to car insurance?
Only to the extent that the person must have an insurable interest in the car. If I transferred title to you on my car I can no longer insure it since I have no insurable interest in the car. If you transferred title to your child who still lives at home you could continue to insure it.
Can you insure your car for any driver?
You can insure the car if you list those drivers on the policy.
Can you insure your car on a revoked licence?
No. You must have a valid driver's license to insure your car.
If you are the owner of a car can it be registered to someone else in one state but insured by you in another state or can the registrant insure it in a different state?
The owner of the car has to register the vehicle. The person on the registration must insure the vehicle, or be listed to drive that vehicle on a family policy. That example sounds close to insurance fraud so please correct the situation. Sell the car to the other person and they have to insure it. Actually it is 100% legal for a person to insure a vehicle registered in someone elses name so long as nothing illegal is going on...it can be the parents etc.....
