0
Will the bank repossess your car if it has been stolen and in an accident and the insurance was expired?
As long as you continue to make the payments, you are OK. If you fail to make the payments, they will repossess the car, sell it, and you will then owe the difference in what it sells for and the balance on the loan. The previous answer overlooked one important point. INSURANCE WAS EXPIRED If they don't repossess it, it is only because it is worthless after the accident. What they would prefer to do in this case is "accelerate the payments", i.e. make you pay the remainder of the loan immediately. Then you can worry about disposing of the carcass.
What else can I help you with?
If a car is stolen and has an accident are the vehicles hit covered by insurance?
no
Is student insurance a necessity?
It is not a necessity, but is a very important thing to have. If you were to get into an accident or have something stolen, the insurance company can give you something for the damage.
Does gap insurance cover a repossession?
Gap insurance only pays if the vehicle is totaled in an accident or stolen and not recovered. It does not cover the deficiency balance after a repossession sale.
Can you go to jail for driving without a licence in an unregistered car with no insurance that has expired tags on it with a stolen sticker and the tags belong to another car you used to have?
Yes...
If a car is stolen and you have insurance but the vehicle is in someone elses name will it be covered?
Theft is not the same as accidents. If you drive a car, whether it is in your name or someone else's name, and you have an accident, then your own insurance is applicable, but if someone else's car is stolen, that doesn't seem to involve you. Presumably you were not in the car when it was stolen, right? What involvement do you have?
Can you repossess a vehicle if it's been charged off on your credit and was stolen?
Yep!
If your car is stolen at the mall can your insurance company raise your rates?
Yes, All losses incurred are used to properly evaluate your risk. If you frequent places where vehicles are stolen or even if you live in an area with high accident or vehicle theft rates then this obviously effects you insurance premium.
Can you be charged with a stolen truck if you get behind on payments?
If they come to repossess it, and you claim to not know where it is, then the repossession agent will report it stolen. At that point, anyone found in possession of it is in possession of a stolen vehicle.
What are the types of insurance and the situations they cover?
Life insurance: When you want to provide for your family after you die; Renter's insurance: When your personal possessions are stolen from your apartment; Disability insurance: When you have to take a month off from work because of an injury or illness; Liability insurance: When you cause a car accident that injures other people.
What does ATP accident mean in car insurance?
An ATP accident in car insurance refers to an "Accident, Theft, or Property damage" incident. This classification helps insurers categorize claims based on the nature of the event, which can affect coverage and compensation. ATP accidents typically involve scenarios where a vehicle is damaged, stolen, or involved in a collision impacting property. Understanding this term is important for policyholders when filing claims and navigating their insurance coverage.
What does gap insurance in Virginia do?
It is different from regular insurance because it covers you for the difference between your car's value, and what you owe on it if you have an accident that totals the car, or the vehicle is stolen. If you are making payments on the vehicle, and you owe more than its value, your GAP insurance will cover the difference.
Do you have to continue paying your insurance if your car is stolen?
No, as long as you have let your insurance company know they car is stolen.
