Keep making payments on a car you don't have and learn your lesson about not letting your insurance lapse.
You ALWAYS need insurance on a financed car, and it has to be full coverage. Doesn't matter what state you're in.
No....only the value ay the time of loss. Gap coverage is available for a reasonable rate on most insurance policies. It can also be purchased through the car dealership.
No, as long as you have let your insurance company know they car is stolen.
If the car is not financed-Yes
I believe it depends on the state, but as far as I know, if you have to have full coverage on a financed car, it doesn't matter where it's financed. If you still have questions, ask your insurance person, they'll know the answer.
i'd say the insurance company owns it
If the car if financed, the lender will require you to insure it. If you own the car, and don't drive it, you are not required to have insurance.
It belongs to the insurance company
When your car is 'stolen", you file a stolen car report with the cops. Then your INSURANCE will pay off the loan. The lender will deal with the insurance co. and alls well. You dont have a car, but no payments either. BTW, the insurance co. HAS to be sure its stolen or they wont pay the loan off.
You should check with your insurance agent how you should carry the insurance on a car not financed in your name. Each of the 50 states in the United States has its own insurance regulations. Each state requires its agents to know the insurance regulations.
If you try to get theft insurance after the car is stolen you will go to Jail! The insurance companies have no sense of humour about FRAUD! Penalty for Insurance Fraud in the U.S. is up to 20 years in prison.