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Do all financed cars in NJ need to have full coverage insurance even if not driven?
Wiki User
∙ 8y ago
Most finance companies would be able to answer this for you. It will vary depending on the banking institution. Full coverage is a general assumption that you are covered meaning what you are "liable" for if you were sued because of negligence in addition to having Collision and Comphrehensive coverages. This means that you would have Bodily Injury Liability, Property Damage Liability and your damamges caused by you to the vehicle and by acts of GOD are covered. I personally think to have a car without full coverage is crazy even if it just sits in the yard or garage. It has been known for cars to be stolen while in a place too long. If you did not have comphrehensive then you are stuk with a loan and no car. Also there have been instances where kids or teens go into other peoples yards and sit around cars and hurt themselves acting like teens and you can be sued for Personaly Injury. These are two examples of cars that will get little or no use yet YOU could be held LIABLE for everything that happens. Do you have the money it takes to pay off a law suit? If so then No you can probably afford not to get Full coverage. Otherwise you will loose your home and cars to pay for a lawsuit. Good Luck!
Wiki User
∙ 8y ago
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Does ford credit offer auto insurance?
No they do not. Ford credit is a financial institution which finances the sale of cars to the public. Sometimes they offer types of insurance like credit life and credit disability that are insurance products which pay them high commissions. They also offer products called forced place coverage through other insurance companies that are used when people fail to keep the proper insurance on their vehicles financed by ford motor credit. This coverage is physical damage coverage only to cover the amount financed so that ford motor credit does not take a loss if the vehicle financed is damaged and the client did not have insurance. This coverage is very expensive, only covers ford motor credit, and the cost is added to the clients account. It is not an insurance policy and does not provide liability coverage or any other coverages needed.
Do insurance companies offer antique car insurance?
Insurance companies do offer coverage for antique cars. There are also insurance companies that are specialized in insuring antique cars.
What states can you get full coverage insurance on cars with salvage titles and what companies will insure these cars?
Ohio Michigan
What is TD written on cars?
The TD that is written on cars is simply an insurance company that offers auto insurance coverage to all types of motor vehicles.
Who is the insurance company providing the insurance for the MSN cars?
There are many companies that provide insurance for MSN cars. You should find the company that fits your needs the best, financially and amount of coverage.
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.
Will the regular car insurance cover the eco cars as well?
"Yes, most regular car insurance companies can also provide coverage for eco friendly cars. Rates will vary from person to person. There are also companies that provide nothing but coverage for eco friendly cars."
Is classic car insurance the same as basic car insurance?
Classic car insurance is for "classic" or older model cars, whereas basic car insurance is a minimum coverage insurance for normal cars. Classic cars are cars that are at least 20 years old but not more than 40 years old.
What companies offer full coverage auto insurance?
Full coverage auto insurance is offered by companies like Nationwide, Cars Direct, AXA Insurance, New York Motor Insurance and AAMI. These companies also have insurance services for other products.
What does performance insurance cover?
Performance Insurance seems to cover BMW and high dollar cars, It is a coverage for higher cost cars with perks such as towing and certain damage repairs.
Does homeowner insurance cover other people cars that get vandalized in your driveway?
NO, Homeowners Insurance covers Homes. Auto Insurance covers cars. Home insurance polices do not provide coverage for personal auto regardless of who owns them or where they are parked.
Can you get car insurance for antique cars?
Yes, one can purchase car insurance for antique cars. If the car is used for display only, you can get a Specialty Auto Insurance policy for far less than what you would pay for an everyday driver car. Don't rely on your homeowners' insurance for auto coverage. Home insurance Policies never provide coverage for automobiles.
