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well your liablites in general...depends....you can be a 'co signer' and NOT an owner ( i know this because i did this with our kids...on purpose) if you are a co owner you have the same liablity as the owner, (ins...if accident occurs and no insurance you are held equal with owner)....if you are a co signer and NOT a co owner you liablity begins and ends with the financial responsiblity of the note...(they don't pay then bank/company comes to you to pay the note/lease)....
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Do you have to get your auto insurance under your cosigner's auto insurance if they cosign for you?
maybe it will help you - autoinsurance.aains.us/adding-young-driver-auto-insurance-policy/
Can lease auto be repossessed when you do not have insuarance?
The terms of most auto leases require that you maintain insurance. Failing to do so is typically cause for termination of the lease. If you can't afford insurance, you can't afford to drive.
Do you have to be on the car insurance if the car is already insured?
Auto Insurance provides coverage for losses and liabilities of the drivers named as covered on the policy.
If you cosign an auto loan for your child why does the dealership say that the car has to go under your insurance?
Only the dealership can tell you why they have made this requirement.
What happens when a leased vehicle is destroyed in an accident and there is no insurance?
Usually, the lease car is required to be insured ... and the lease is most likely dependent on continued auto insurance being in force. If the car was destroyed (totalled) and there is no insurance to cover the loss, the car is then gone, but NOT the lease payments ... You will still be required to pay the lease as agreed upon ... would have been far cheaper to have had insurance.
Can a person cancel an auto insurance policy if the car is only a lease?
As long as you have another policy in place. When you signed your lease you garanteed that the vehicle would be insurred. Uninsuring the vehicle would be in violation of the lease.
How does cosigning for an auto loan affect your ability to get your own auto loan?
Never cosign a loan. While I agree that one should NOT cosign. cosigning can hurt or help. Remember that if they do not pay you have to. Cosigning will affect your credit and count towards your debt to income ratio and show as an open joint auto loan. You might be turned down to get your own auto loan without a cosigner if you cosign.
Mercedes-Benz Credit Corporation Start?
I am an insurance agent -- what address do we list for Mercedes Benz on a lease for the auto insurance policy? Leasing from a dealership in Chicago. Thanks.
Does your Texas home owner's insurance cover you for your negligence in causing an accident with injuries or death to 3rd parties while you are participating in a car and motorcycle club event?
No, your homeowners insurance is specific to your home and certain liabilities that arise from home ownership. Auto and motorcycle accidents are covered by your "Auto or Bike Insurance" not by your home insurance.
Commercial Auto Insurance Is a Must for Businesses?
When you insure a vehicle that you use for business purposes, make sure that you insure it under an authentic commercial auto insurance policy. A personal auto insurance policy will not cover many business uses of an automobile, and if you make a commercial auto insurance related claim that is not covered on your personal policy it will be denied. Therefore, when you buy or lease a car for business use, contact a commercial auto insurance broker if your general business insurance broker or provider cannot assist you with your commercial auto insurance needs.
If you cosign on an auto loan is it required that you be named on the owners auto insurance just because you are on the title?
No if you consign you should be listed as the additional insured but you dont need to be on the policy provided of course that you are not driving the vehicle and are not a resident of the household where the vehicle is kept.
Can you be seventeen and have a cosigner cosign for an auto loan?
i was able to get an auto loan with the help of a cosigner and im under 18
