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Does a cosigner have any liability if the owner of vehicle has an accident?
Wiki User
∙ 8y ago
You are certainly responsible for the actions of primary to the extent of the loan.
No.
In no way could a person be held legally responsible for an accident on grounds that they were the cosigner of the loan that procured the vehicle.
You are neither responsible, and the other side of the issue, nor at any particular risk of loss. Even if the owner is entirely liable, and unresponsible to the degree of not having insurance or other assets to pay for damages they caused, any judgment against them would probably try to get other $ first, and could only try and get to the equity, that is the amount of value above the amount of the secured loan on the car, if any, AFTER paying off the secured creditor - which is the loan you co-signed, releaving you of any responsibility. But, it would make just as much sense, and maybe more, for someone to sue the bank that made the loan as to try and get you, a co-signer of the loan, involved.
Wiki User
∙ 8y ago
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Does the owner of a vehicle have any liability if the co-buyer has an accident while driving it?
You might. Many states have vicarious liability laws. Vicarious liability in this situation means that as the vehicle owner, you may be responsible for how the vehicle is used. You should consult an attorney licensed for your jurisdiction.
Is it legal for an insurance company to let you get liability insurance on a vehicle that has a lien holder on it?
Certainly, liability insurance has nothing to do with who owns the vehicle. It deals with protecting the owner of the vehicle if sued as a result of an accident. Collision and theft protect the owner of the vehicle from loss.
What is the liability of the owner if some other person takes out insurance on his car?
The insured and the owner of the vehicle are both legally responsible for the vehicle and they could both get sued for an accident.
Can a life estate tenant be sued because of an owner's accident?
No. They have no personal responsibility regarding the owner's personal liability in an accident.No. They have no personal responsibility regarding the owner's personal liability in an accident.No. They have no personal responsibility regarding the owner's personal liability in an accident.No. They have no personal responsibility regarding the owner's personal liability in an accident.
Cosigner need insurance?
The cosigner on an automobile loan is not the person who has to pay for insurance on the vehicle. The registered owner should pay the fees for insurance. However, it is the cosigner's responsibility to make sure the registered owner is carrying insurance for the vehicle.
Does the owner of a vehicle have any liability if someone else has an accident while driving it?
Yes. Absolutly so is my understanding. That is so the owner does not give the keys to someone who is irresponsible. If there were a car accident the owner would be liable for the other persons injuries, or vehicle repair if the driver of your car was at fault.
What happens after your car is totaled and you only have liability?
If a car is totaled in an accident and only liability insurance is present, there is a chance that the other party's insurance will pay for the vehicle if the accident was their fault. If a car is totaled, but no others were involved, then the responsibility falls on the registered owner. This will not release the registered owner from paying for the vehicle, either, if money is still owed on the car.
In a vehicle accident with property damage whose insurance is responsible the driver's or the owner's?
The registered owner is only required to furnish liability insurance. If the owner does not have sufficient coverage (liability, comprehensive or collision), then the driver's policy would invoke as secondary coverage. It's not nice to borrow someones vehicle, wreck it and then claim ""not my responsibility". after all, you did borrow the vehicle.
If you are financing a vehicle can you remove the co-owner from the vehicle?
Only if you refinance the vehicle without the cosigner on the new loan.
Can a co-signer be charged with vehicular manslaughter if he was not driving the car?
No, but there may be other liability if you are a co-owner of the vehicle. You should consult with an attorney.No, but there may be other liability if you are a co-owner of the vehicle. You should consult with an attorney.No, but there may be other liability if you are a co-owner of the vehicle. You should consult with an attorney.No, but there may be other liability if you are a co-owner of the vehicle. You should consult with an attorney.
What is the parent's liability if their child is the driver at fault in an accident?
If the vehicle is titled to the parents then little chance of removing liability from mom and dad. If child is titled owner, and has their own auto policy then very likely the parent's can separate their own liability.
Who is liable in an accident - the owner of the vehicle or her son?
the owner of the vehicle is always responceable in this situation..
