Presuming there is no agreement between that specifies something like this, you probably have no grounds of any type to get possession. Certainly not repo. I'm not sure there is any type of default at all for you to act on in any case. The lender requires that there be insurance - he may have a cause of action like repo - (although he'll probably just buy it for you, which he is allowed to do and charge it against the loan). Moreover, as I understand it, you say you co own and coborrowed the vehicle - as if you both have equal everything. I gather you have insurance for yourself and on the vehicle and correctly identified all drivers having access to the car, as required by the application for the policy? So why wouldn't that insurance also cover any driver of the car?
No, I have never seen a citation for carrying insurance for an unlicensed driver. I recommend that all drivers should be insurance whether they are licensed or not.
Under insurance is not carrying enough insurance to cover your assets in the even of a liability claim or not carrying enough insurance to satisfy your bank / lienholder. Over insurance is carrying more insurance than you need. This is more common with home insurance. For example, insuring a 1000 square foot house for 1,000,000, would be considered more insurance than you'd ever need.
NO. Commercial (or Fleet) insurance is much more expensive than general insurance. However, if you are asking whether insurance is cheaper for a commercial vehicle (carrying produce for example) than a bus (carrying passengers) then, yes, it is cheaper.
value of the inventory
There is on Product in Insurance Market called "Passanger Carrying Vehicle" You can buy that insurance
Life Insurance Corporation is having the exclusive privilege of carrying on life insurance business in India.
You may or may not have to provide insurance for them if they have their own vehicle but you are responsible for listing them on your auto insurance policy and providing your insurance company with their license information and birthdate.
Yes, carrying auto insurance is mandatory in all states, including Georgia. Driving without insurance can result in fines and/or jail time.
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.
Every landlord is required to have insurance, but now the question is what type of insurance. Property insurance is likely the type of insurance that the landlord is carrying. This does not cover anything inside the property that belongs to the tenant. For this, the tenant needs to purchase separate insurance called renters insurance.
Yourself and the cargo you are carrying should be covered under this insurance. It also protects your company from liability in case of an accident or emergency.
Carrying cost is those type of costs which requires to safely keeping the stock of material which includes ware house, insurance etc so purchase cost is not a part of carrying cost.