Wiki User
∙ 12y agoAs the cosigner has a financial interest in the property, meaning if something happens to the vehicle he can be made to pay "All" the bills, Then he should certainly be insured on the policy for any loss regardless of whether he is driving it.
A cosigner is jointly and severally liable to the lien-holder for the full amount of the note and is probably required to be insured under the finance contract anyway. The cosigner if unlicensed and does not drive should at the very least be listed as a holder of interest in the lien-holder section so that they will receive notification from the insurer should the primary have any lapse in coverage.
The primary driver should also pay any additional premium required to insure the cosigners interest. After all, he was kind enough to co-sign so you could buy the car, the least you can do is make sure he doesn't wind up in the poor house should something happen to it.
Should the primary Driver / borrower refuse to insure the cosigners interest, it would probably be prudent for the co-signer to take legal recourse against the primary borrower before a loss occurs.
Ladarius Brekke
Medicare
He has no coverage. Unless the minor gets insurance elsewhere. He would likely be covered as a permissive driver of the friend's car, under the friend's policy.
She can buy a new policy all day long and claim she had never had a policy cancel if: 1. She is the only person on the deed to the house. 2. She never had a policy cancel.
No. Your Car is covered by your Auto Insurance Policy. It is never covered by a homeowners policy no matter whose property it is on.
It goes to the estate
Does having title insurance lower your [Credit Score a.k.a. FICO (Fair Isaac Corporation)] score? The answer is... No, it does not. Title insurance is part of most residential real estate transactions. All a title insurance does is say that someone did a search against the legal records of the local municipality and verified that there is no other person who can claim to own this property in the future because of some undisclosed or forgotten legal record; and if for some reason that does happen... the title insurance company will pay a claim against the loss of that property. When title insurance is issued it is paid for only one time; and typically there are two types of policies that are issued simultaneously by the same title company. 1) A Buyer's policy. (This policy pays out to the buyer.) 2) A Lender's policy. (This policy pays out to the buyer's mortgage lender.) So, no, title insurance should never impact your credit score. Note: Mortgage insurance, which is another thing entirely, may impact a credit score. To be exact the circumstances that cause a lender to require mortgage insurance may impact a credit score; but that's another question.
A major disadvantage of a modified whole life insurance policy is that you can never change the face value on your policy. Additional coverage would require the purchase of an another policy. Also the growth potential on your policy is limited.
If you have insurance through your employer, and you are the policy holder,(the insurance is in your name) this insurance will be primary for you, and your spouses insurance policy will be secondary. The insurance policy thru your spouse's employer, (your spouse is the policy holder, or the insurance is in their name), this would be primary for your spouse, and your policy would be their secondary. Here's the phamplet from Medicare http://www.medicare.gov/Publications/Pubs/pdf/02179.pdf
Does Granddaughter not live with you anymore and not drive vehicle ever? If Granddaughter has moved into her own house and never drives any of your cars then yes you can drop her from your insurance. If she is still a member of your household or drives any of your vehicles then no you cannot taker her off your insurance.
You should phone the insurance company and ask them about it; make sure you have the insurance policy number on hand, they will need to know.
Not likely. Never heard of someones garden being covered under a homeowners insurance policy but. To be sure though you might want to review your policy schedule of coverages or ask your Insurance Agent.
I have never heard of it and I have been an agent for 26 years. I don't believe it is a true insurance term.