0
If the father is primary and his college student child is cosigner who is responible for the insurance?
The answer will vary from state to state, loan to loan and insurance company to insurance company. However, in most jurisdictions the DRIVER is responsible for insurance, regardless of who owns/titles/leases the vehicle. If I understand your question, you are asking whether the principal on the loan or cosigner is responsible for insurance? Most insurance companies could give a rats donkey WHO carries insurance, so long as insurance meets the loans stipulations, but you would be best suited asking the insurance company.
What else can I help you with?
What is the insurance liability for the cosigner of an auto loan?
None. A cosigner is entering into a legally binding contract to repay the debt if the primary borrower defaults on the lending agreement. The cosigner does not have any other obligation nor ownership rights to the property.
Can you switch the cosigner to the primary?
Yes, you can switch the cosigner to the primary on a loan. The way to do this is to have the loan refinanced.
Can a cosigner remove the primary borrower from a loan agreement?
No, a cosigner cannot remove the primary borrower from a loan agreement. The primary borrower is responsible for the loan, and the cosigner is only responsible if the primary borrower fails to pay.
Can a cosigner become the primary borrower on a loan?
No, a cosigner cannot become the primary borrower on a loan. The cosigner's role is to provide a guarantee for the loan in case the primary borrower fails to make payments.
Can a cosigner register a car?
Yes, a cosigner can register a car, but they are not the primary owner of the vehicle. The cosigner is responsible for the loan if the primary owner fails to make payments.
Can a cosigner register a car on behalf of the primary borrower?
Yes, a cosigner can register a car on behalf of the primary borrower if the primary borrower authorizes them to do so.
Can a cosigner have a primary title holder taken off the title?
If you go to the registration office with the primary and have them give consent to the cosigner
How can someone apply for CareCredit with a cosigner?
To apply for CareCredit with a cosigner, the primary applicant can fill out the application online or in person and provide the cosigner's information. The cosigner will need to agree to be financially responsible if the primary applicant is unable to make payments.
Is a cosigner responsible for overage miles?
A cosigner is responsible for anything the primary party does not pay.
Is there a way for the cosigner to be removed as cosigner if primary owner defaults?
No. The purpose of requiring a co-signer is that in the case of a default by the primary borrower, the cosigner has agreed to be fully responsible for the loan. Therefore, if the borrower defaults, that's what you're there for if you're the cosigner.
Is the primary on a loan obligated to pay back a cosigner if the cosigner pays off the loan without the knowledge of the primary?
YES !!! He/she should certainly discuss it with the cosigner. It may be a gift or it may just be that the cosigner doesn't want to have that note appearing on his/her credit report. Whatever the reason, even if the cosigner did it as a gift, the primary should acknowledge and express appreciation. But be prepared if the cosigner expects the loan to be paid back.
Does a cosigner for a contract on an apartment share in the liability and if so can one cover the cosigner's liability with tenants insurance?
Yes the co signer is responsible for the entire terms and requirement on the lease just like the primary renter is. NO renters insurance cover the contents of the apartment and in case you cause a flood to the unit below and items of that nature. There is no insurance for the co signer
