Your name must be on the insurance policy, otherwise you are not a covered driver under that insurance policy. Failure to disclose a known driver can void any coverages afforded by the policy and is a well known form of insurance fraud.
Most loan companies will require that you have liability, collision, and comprehensive coverage. That covers you hitting someone else, someone hitting you, and loss due to fire, theft, storm damage, etc.
You just can't place your loan in someone else's name. That other person has to get his/her own loan for the car and pay off your loan.
No, it is generally not possible to refinance a car loan into someone else's name without the original borrower being removed from the loan.
Yes, it is possible to pay off someone else's car loan by providing the lender with the necessary funds to settle the remaining balance on the loan.
No you don't have to, but you would be a fool not to carry enough insurance to cover your mortgage! However, most mortgage lenders do require it, and if so, they will not make the loan if you refuse to carry the mortgage insurance. In that case, the choice is yours.
Insuring a Vehicle in someone else's name.Yes you can. So long as you also list the owner as an insured. See the related questions below. Other AnswersNo, the insurance needs to be in the same name as the person on the loan.
A personal loan is an asset to the estate. As such it can be willed to someone else if there is proper documentation of the loan.
Most loan companies will require that you have liability, collision, and comprehensive coverage. That covers you hitting someone else, someone hitting you, and loss due to fire, theft, storm damage, etc.
You just can't place your loan in someone else's name. That other person has to get his/her own loan for the car and pay off your loan.
You will be required to carry insurance to protect any collateral for a loan, no matter how much the amount of the loan.
loan
No, it is generally not possible to refinance a car loan into someone else's name without the original borrower being removed from the loan.
Yes, it is possible to pay off someone else's car loan by providing the lender with the necessary funds to settle the remaining balance on the loan.
To get out of a used car loan, pay off the loan or find someone else who will do that.
Yes. A license cannot be 'loaned' to someone else.
No you don't have to, but you would be a fool not to carry enough insurance to cover your mortgage! However, most mortgage lenders do require it, and if so, they will not make the loan if you refuse to carry the mortgage insurance. In that case, the choice is yours.
Yes, it is possible to assume an auto loan from someone else, but it typically requires the lender's approval and a formal transfer process.