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Yes. You are insuring not only your own car but anything that you hit.
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∙ 14y ago
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If your car is paid in full do you need full coverage insurance?
No. But in most states you are still required to have liability insurance to cover the costs of any damages you may cause to others if you are at fault in an accident.
Do I Need Full Car Insurance In Colorado?
If the car is paid off, then only liability insurance is needed. If it is not, then you will need a full insurance coverage plan.
What is Car insurance paid in full?
Usually when your buying car insurance you have the option to make monthly payments, or pay in full -if you pay in full, you pay the full amount for the year. This way there are not payments to be made until 12 months later when you have to renew your insurance....
Is auto insurance required when car is paid for in full at time of purchase?
Any motor vehicle operated on a public roadway must carry auto insurance. It does not matter whether payments are still being made, or if it's paid off. If you don't have insurance, you cannot drive that vehicle off of that lot.
If your car is declared totaled do you still have car insurance The insurance company has not paid yet.?
Hi, It depends on what type of insurance you had. Liability, full coverage...etc...Call your insurance company and find out.
How old does your car need to be to qualify for liability insurance?
How old the car is has nothing to do with it. The only time a car is REQUIRED to have FULL COVERAGE is when a car is being financed. In other words, a bank gives you a loan. Why? Because liability only fixes the other persons car, and if you get in a wreck, the bank will never get their money back from the car. I have owned ~5 cars in my life, financed one, and had full coverage insurance on it. Every other car has been liability only. So again, the age of a car has nothing to do with qualifying for liability insurance. If its being paid for with a bank loan, you need full coverage, if the car is paid off, you can get liability.
Do car insurance Nebraska laws require me to have full coverage insurance?
In Nebraska, you're actually not required to have full coverage. You'll only need to have minimum liability insurance.
What is a car insurance premium?
A car insurance premium is the amount of money paid to an insurance company for a 6 month period. It is cheaper to pay the full premium that pay each month.
When would you not carry full coverage auto insurance?
If you own a car outright and have paid off loans used to buy it, you are no longer required to have full coverage insurance for it. At this point, it a personal choice. If your car has worth that you cannot afford to lose in the case of an at-fault collision or theft. On the other hand, if the vehicle is older or not worth so much, it may not be worth it to pay for full coverage insurance.
Do you need full insurance when you finance a car?
Most finance companies will make you carry full insurance, at least till it's half way paid off!
Is car insurance required in the state of MA?
Car insurance is required in Massachussets.
Do the laws about car insurance North Carolina say I have to have insurance on my car?
In most states, including North Carolina, you still have to maintain some form of car insurance coverage. If the car is paid off you can drop your policy from full coverage to liability insurance.
