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When getting a car and its being financed does the finance also cover the tags tax and title?
Wiki User
∙ 13y ago
yes its does sometime. depending how you deal with the dealer. ask them to not charge you fee on tag, and title
Wiki User
∙ 13y ago
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What happens if you finance a home and it burns down?
IF the home is financed, the lender will require fire and hazard insurance. The policy will at a minimum cover the lender's cost.
What is forced mortgage insurance?
Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder. Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract. The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.
How does forced placed insurance work?
Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder. Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract. The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.
What is a security's role in finance?
The role of security in finance is to provide cover in the event that a debtor is unable to pay.
Who sells gap insurance?
GAP insurance is designed to cover the difference between what you owe on a financed (or leased) vehicle and the actual cash value that is paid by an insurer if the car is a total loss. Generally, GAP coverage is available through the car dealer or the finance company that finances the car.yes
Can a lien holder charge interest on forced placed insurance?
Yes they can. If the lien holder had to advance the premium to pay for the insurance, the amount is added to your finance note with the interest. Force Placed Insurance is coverage obtained by the lien holder to cover their interest in the financed property when the buyer fails to meet the required coverage conditions of the finance note. No coverage is provided to the buyer at all, only the lien holder. Basically if the finance company has obtained force placed insurance coverage then the buyer is already in default on the terms of the finance contract. The cost of the coverage is added to your bill or finance note without benefit of coverage to the buyer.
If you finance a car for someone can they insure it in their own name?
Yes of course, they are required to insure it in their name if they are buying the vehicle by financed note. The buyer is the new owner of the vehicle. All drivers are required to maintain financial Responsibility when operating a vehicle on public roads. The financiers interest is typically covered also by requiring the buyer list them as a lienholder on the policy. This requirement is generally built into the finance agreement There are also separate business insurance product lines that will cover a lienholders interest in a financed vehicle. The financier trying to insure the vehicle on a standard personal auto policy is an attempt to circumvent the insurance laws and constitutes insurance fraud by failing to disclose the true nature of the the risk to the insurer. Under finance law, the buyer is the legal owner of the vehicle even theough the note is not paid off with certain encumbrances denoted in the finance agreement. The financier is a lienholder in due course until such time as the finance note has been satisfied.
Does car insurance cover car payments if you lose your job?
No, auto insurance does not offer this type of coverage. You generally have the option of purchasing this coverage from the auto dealer when you finance the automobile. Sometimes you may be able to purchase it if you are a member of a credit union or such. You might even call the finance company who financed the vehicle and see if it's possible to add it if that is your desire. Read the terms as these coverage are often times overpriced and have lots of small print.
If you finance a car in your name or with one of your parents as a cosigner will your parents insurance cover it?
no
What does forced place insurance cover?
It covers the finance company. nobody else.
In finance collateral deposited with a stockbroker by a client to cover the risk of loss of transactions?
Margin
Will auto insurance cover a disabled person for motorhome payments?
No. Auto Insurance provides coverage for accidental losses wheel operating your vehicle. To cover the finance note of a vehicle you would have to have purchased credit or finance note insurance offered to you by the dealership at the time of purchase.
