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If your insurance pays purchase price for your car for a total loss and you are still paying off the finance of the car are you forced to buy a new car or risk having your insurance rates climb?
Wiki User
∙ 17y ago
When a car gets totaled and it's paid off the lienholder gets paid first and you get whatever is left over. In California, your insurance cannot be raised until the end of the term. If the accident was your fault your insurance will rise. If it wasn't then the insurance will rise depending on the type of new car purchased.
Wiki User
∙ 17y ago
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Due to lack of insurance can the place where you finance your car change your payment?
Yes they can add coverage to protect the finance company. It is usually more expensive than having insurance from an agent.
What is the relationships finance and purchase department?
The relationship between Finance and Purchase Depatment is intertwined. Unless the orgnisation is having a sound financial base, the activity of the Purchase depatment is bound to get affected. In normal circumstances, every purchase decision is to be sanctioned by the Finance Department, in the form of full/partial release of fund.
Can a finance company repossess your car if you have no insurance?
No, but depending on which state you live in your division of motor vehicles (or equivalent) can fine you hundreds of dollars for not having insurance.
Can your car get reposessed for not having insurance?
Not usually. Most companies will add coverage for the insurance which is usually higher than you will pay at most companies. This is called forced place insurance.
Can you purchase a vehicle without car insurance?
Yes, In the United States you can purchase a Vehicle without having insurance on it beforehand. You just can't drive it off the lot or anywhere else.
Can a finance company repossess your car for no insurance but they knew the car had transmission and brake system problems.You got the insurance on the first like you said but still can't get it back.?
I believe all they can do is fine you for not having insurance
Can a car be reposessed without having insurance on it?
Of course. If you don't meet the obligations of your finance contract they have the right to reposess the vehicle. Your main obligations are to pay the payments as agreed and keep insurance on the vehicle as agreed. Read your finance agreement. I have seen many occasions when companies have to repo a vehicle because the customer won't keep the insurance on it.
Can a creditor put a home on foreclosure due to not having home insurance?
Yes, Maintaining your Home hazard Insurance Policy is a requirement of your Mortgage Finance Contract or Note. Failure to maintain adequate Property Insurance is a default of your agreement with the mortgage company.
What happens if you get a no insurance ticket then purchase insurance the same day?
You will still have to pay the tickets. I just went through this. Your licnese will get suspended and you will have to pay 375 to reinstate it and 250 for having no insurance. they will call your insurance agent and get the time you got your insurance.
Is it possible to purchase an SR-22 from an auto insurance company without having their insurance on your vehicle?
No, an SR-22 is just a form that the insurance company sends to the state to notify them of the status of your insurance policy. It is an endorsement on your insurance policy. Hope this helps.
Can i get car insurance without having a car?
You can purchase a non-owner policy which is used occasionally if a person is required by the state to carry valid insurance in order to keep your license.
Why should one buy dental insurance?
You should purchase dental insurance because health insurance doesn't typically cover teeth. Many common dental procedures cost well over $1000, so having insurance is a must.
