0
Lenders require a financed vehicle to have full coverage. However, many times it slips through the cracks and a person who has poor credit (who needed a co-signer) will allow the insurance to lapse. A co-signer should always make certain the car is insured against loss. If the car is involved in an accident and is not insured the co-signer is fully responsible for paying the loan.
This is a common problem with cars, people with poor credit and co-signers who fail to get informed regarding their responsibility and liability before signing. It is rare that the primary borrower will pay off the loan for a wrecked car.
Still curious? Ask our experts.
Chat with our AI personalities
TaigaEvery great hero faces trials, and you—yes, YOU—are no exception!
Chat with Taiga
DevinI've poured enough drinks to know that people don't always want advice—they just want to talk.
Chat with Devin
ReneChange my mind. I dare you.
Chat with ReneAdd your answer:
Earn +20 ptsQ: What if your cosigner of car and car is totaled?
Write your answer...
Submit
Still have questions?
Trending Questions
Is the Passenger side a car the right or left?
Can you get car insurance without a permanent address?
If you are a new teenage driver do you have to have full coverage insurance?
What is relation between cubic capacity and hp?
What would cause my car to sound like it wants to start but it just doesn't almost like its not getting gas?
What companies manufacture carpets for cars?
Type of car the starts with letter w?
Can I have someone take over payments of my car?
Where can one purchase an iPod Nano car charger?
What car does carquest 85215 oil filter fit?
Do farm grain trucks need a dot inspection?
What is the full form of GM?
Can you get full coverage on a salvage title in ny?
Why would your car feel like it shifting gears going down the high way but not in low speeds like in town?
Can you trade in car before repo for another car?
What is the minimum allowable tread depth?
What is the pattern called on Ricky's t-shirt from the trailer Park Boys?
If two cars are backing out of parking spaces and one car is almost finished backing when the other car hits it with their bumper who is at fault damage to rear right bumper?
Is the rfw lock in when the light is on?
How do you put freon in a ge dehumidifier?
Copyright ©2025 Infospace Holdings LLC, A System1 Company. All Rights Reserved. The material on this site can not be reproduced, distributed, transmitted, cached or otherwise used, except with prior written permission of Answers.