0
Can a car be repossessed over having liability coverage insurance instead of full coverage?
Updated: 9/20/2023
If the lender required full coverage (to protect their interests) as a condition of the loan and you drop it and replace it with a liability only policy, then you have breached the terms of the loan. The lender now has the right to declare the loan in default and demand immediate payment in full of principle and interest. Failure to pay as demanded then gives them the right to repossess the car and have it auctioned. If the auction does not get enough money they can sue you for the difference!
Still curious? Ask our experts.
Chat with our AI personalities
BeauYou're doing better than you think!
Chat with Beau
BlakeAs your older brother, I've been where you are—maybe not exactly, but close enough.
Chat with Blake
RossEvery question is just a happy little opportunity.
Chat with RossAdd your answer:
Earn +20 ptsQ: Can a car be repossessed over having liability coverage insurance instead of full coverage?
Write your answer...
Submit
Still have questions?
Trending Questions
Where to find VIN on a f1 truck?
Can spondylosis be caused by a tramatic accident?
What does the tx symbol mean on VA license plates?
What area will a 1500 BTU heater heat?
How long does it take to be reimbursed for a theft loss claim on your homeowners insurance after EUO?
What is considered the right side of the vehicle?
How do you open stuck trunk's door lock on a 2000 Mercedes S class?
When is the earliest a policy may go into effect?
What should you do to regain control of your car when hydroplaning?
List of 7 passenger vehicles?
What is the current value of a 1928 Ford model A?
What is the Type of engine the HUMVEE has?
Will a 4.0 6-cylinder jeep automatic transmission fit the jeep 5.2 v 8?
What is insurance claims review process used for two or more insurance carriers?
Where are haynes manuals sold?
When did JC Flowers LLC take control of Affirmative Insurance Holdings?
Will comprehensive auto coverage cover mold?
Are condominium unit owners required to have homeowners insurance?
Can driver's ed lower insurance rates?
Why diamond is the hardest metal?
Copyright ©2025 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.