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In most cases these days, when people think they are a Co-Signer, they are in fact a Co-Buyer. If you are a co-buyer then by default you are a co-owner. In the event of an accident both the driver and the owner(s) can be sued for incurred losses.
To determine this just look at the vehicle Title or Registration, If your name is there, you are in fact a co-buyer and co-owner.
Unfortunately, there are many car lots and salesmen out there these days who do not clarify this to the buyer(s) and allow you to think you are only co-signing when you are not. There is a Huge difference in the two terms where your legal liability is concerned
If you are truly a Co-signer, you would not need to be on the policy.
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∙ 12y ago
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Can your daughter be on your car insurance if you are not cosigner on her car loan?
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
What type of insurance should a cosigner obtain on a car?
The insurance reuire by your lender.
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.
If you finance a car in your name or with one of your parents as a cosigner will your parents insurance cover it?
no
What is a sentence using cosigner?
If you need a cosigner for the loan because of bad credit, it means you can't afford the car.
Does a cosigner need a driver's license?
You need a lisence to drive the car, but not to cosign a loan.
Can you refinance your car without a cosigner if your current loan has a cosigner?
if you take it to your personal bank and ask them how much you need to have paid already they can indeed refinace you and remove the cosigner
Does a cosigner on car loan have to be licensed?
No, they just need good credit.
Is a cosigner liable for a death if the car has no insurance?
No, a co signor would not be liable. A co-buyer would be liable.
What you need to get car insurance?
You typically need a car, or other vehicle, to get car insurance.
If you have a car license and no car do you need car insurance?
no, only when u have a car u need insurance.
If the car your fiance and you share is titled under his name and he has insurance do you also need car insurance?
If you drive the car then you need car insurance.
