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When a car is repossessed what do you do with the insurance?
When a car has been repossessed the person paying the insurance should cancel it.
If you repossess your car do you have to continue insurance coverage on that vehicle?
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.
If your car has been repossessed are you required to continue insurance and for how long?
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.
Should you cancel the car insurance on a repossessed car in NJ?
yes
What do you do once your car has been repossessed?
I have a welding machine on the truck they repossessed can they keep that?
Should you cancel the car insurance on a repossessed car in Florida?
Yes of course you should!
Can a car be repossessed if I don't have insurance?
yes by doing the confy stuff
If your car has been repossessed do you have to keep car insurance on it?
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.
Can you keep buying insurance for a repossessed car and drive legally?
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.
My girlfriend canceled my insurance and called the car lot My car was repossessed to get the car back they want to be paid off in full what are my legal rights do I have any options?
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.
Does insurance help with rental when car repossessed?
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.
When your car is about to get repossessed do you still need to have car insurance on it or can you just take the vehicle off of your insurance policy?
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.
