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What else can I help you with?
Is a motor vehicle an asset or liability?
asset
Can your car be repossessed from the towing lot that towes your wrecked vehicle?
If there's a lienholder on that vehicle, yes, that lienholder can repossess it.
What kind of minimum insurance coverage is required by law in ontario for a motor vehicle?
public liability
Is it illegal to drive in US without a liability insurance?
No, in the United States it is illegal to operate a motor vehicle on public roads without proof of "Financial Responsibility".A motor vehicle liability insurance policy is only one of several means by which to meet our financial responsibility requirements.
What are the guide lines for general liability insurance when hiring employees?
What are the Underwriting guideline's for general liability insurance when hiring employee's and considering their Motor Vehicle Reports?
If I had a motor vehicle accident and have property damage liability is the other drivers vehicle covered?
That's what liability is all about. The keyword here is liability, which covers any incidents you may be liable for. Your policy will cover the vehicle, subject to policy limits. What happens if the damage you cause exceeds your policy limits, that I am unsure of.
Can the lien holder buy car insurance?
A lienholder may purchase what is called Collateral Protection Insurance in the event the debtor fails to provide collision insurance. Remember, the lienholder is not concerned with the liability insurance policy that the state requires. They are only concerned with you maintaining insurance that protects their investment in the vehicle. If you are pulled over by the police, the Collateral Protection Insurance will not be adequate insurance for the polie. The police are looking for you to maintain liability insurance.
Can you take a vehicle out of the US to another country with a lien on the vehicle?
Only if you have written permission from the lienholder.
Can a vehicle that is without a lienholder be repossessed by a company before a lien is filed?
No
How do you get your title for paid out vehicle?
Contact the (former) lienholder to get them to release the title to you.
Does a commercial general liability policy also provide excess vehicular liability coverage beyond the coverage in the driver's separate mva policy?
No. A commercial liability policy specifically excludes liability arising out of the ownership, maintenance or use of a motor vehicle.
What is a lienholder deductible?
Usually a lienholder (a bank, an individual party) requires that the vehicle you purchased from them to have automobile liability insurance. Usually, they want you to carry a $250 Collision and $250 Comprehensive deductibles. They must be added as an additional insured to the auto policy. In case the vehicle is totaled before it's fully paid, they are added as a payee on the check. The loan balance has to be satisfied first. The deductible is applied prior to the check being issued.
