When a car has been repossessed the person paying the insurance should cancel it.
I take it you mean, if your car IS repossessed. In that case, IF you dont plan to redeem it, NO. NO car, NO insurance. Once the lender repos the car, they are responsible for the insurance coverage.
Once your car is repossessed, it is covered by the repo companys and the lenders VERY expensive ins. No need for you to maintain coverage UNLESS you plan on redeeming it ASAP.
yes
I have a welding machine on the truck they repossessed can they keep that?
Yes of course you should!
yes by doing the confy stuff
no, but it is recommended. the repo co has insurance and is bonded for this type of situation. you will have to provide proof of repo to your insurance co.
IF you mean a car that is being searched for by the lender, YES. You sure can RISK spending the money one day for ins. and watching it be towed away the next. Its your gamble. If you just want insurance to drive any car, I once read that you can get insurance without a car. Ask an insurance agent.
If you owed money on the car (which is probably why it was repossessed), you need to pay what they demand. Check the paper you signed when buying the car if you think they are 'demanding' something different than you signed. Your girlfriend was smart to cancel the insurance, since a repossessed car does not need insurance. You cannot sue your girlfriend for calling the car lot, or for cancelling the insurance, because you cannot show DAMAGES to yourself.
I've never heard of an insurance policy that covers repossession. Remember, the car doesn't actually belong to you -- it was repossessed because you failed to honor the contract of repayment of the loan to buy it.
Daleann, take the car to the lender, get a reciept for the car, then drop the ins. IF it got stolen while in your possession(before repo) your LOSS would be much greater without ins. aS LONG AS THE CAR IS STILL IN YOUR POSSESSION, KEEP THE INSURANCE. ONCE THE CAR IS GONE, DROP THE INSURANCE. iT WILL BE DONE AS SOON AS YOU HANG UP WITH YOUR INSURANCE CARRIER.