If you’re an holder, it doesn’t matter if you’re not on the loan.
What do you do if the insurance for a totaled car does not pay off the car loan?
I faced the same thing about a year ago. The insurance company did not want to give me what was needed. I got on-line and found many cars that were just like mine and demonstrated them that my car was worth more than they were wanting to give me. They still did not want to give me what the car was worth. So I went to puny claims court and filed suit on the driver of the other car. The person’s insurance has to represent them. Also go and look at the comps that the insurance company are using for your car to see if you can substitute the car for what they want to give you. ResponseUltimately it is your responsibility that you either made low payments, took out a very long loan, or picked a car with high depreciation. The insurance company is not liable for the inflated amount you owe–only what the car is worth. ReactionThe insurance company will only give you the value of the vehicle, as per the “Kelly Blue Book”. They will also send an appraiser out to see what the condition of the car was, as in mileage, any previous harm. If the accident was another driver’s fault, you have to sue him and/or his insurance company for the remaining balance.Whatever you borrowed to obtain the vehicle wil always be more than the car is worth. You have already lost money on it as soon as you drove it off the car lot. But do your research. Go online for “Kelly Blue Book”, and get the estimate of the car’s value. If it is more, then dispute it with the insurance company. Print the page out. ReactionWhen you bought the car fresh or used from the dealer you had the option to purchase something called GAP INSURANCE from them (the Dealer, not the insurance company) for your exact situation. If you did not have enough equity in your car for the insurance pay off to cover it AND did not have gap insurance. basically you are screwed and responsible for the rest of the loan amount car or no car. Some people believe Gap insurance is a rip off so they do not suggest it to you and some just don’t know what it is. They do not need to be selling cars. Not fair but the way of life. Father is an insurance sales man. I also had a doll hit me I had GAP insurance and she did not. She still had to pay off the balance on the loan even tho’ she did not have the car. The courts won’t do much because you had the option to purchase gap insurance and you did not, it does not matter that you did not know.
What happens to a loan on a car when the loan holder dies and there is no cosigner or insurance on the loan?
The loan must be paid out of the estate (sell of home, life insurance policy, etc…) Otherwise, the estate will be held up in litigation and will not be closed or the beneficiaries will be coerced to pay the loan.
If you loan your car to a friend and they wreck your car is your insurance responsible?
yes. plain and elementary. you lent the car and then they are a permisable driver. As long as they are not n excluded driver or a resident in your house..
It depends, if your policy is a named driver & the driver is not named, your policy will not react. If your policy is a standard auto policy then yes, your policy will react.
If the loan is only in your dad’s name can you register the car in your name?
If he’s dead, and left it in his will to you, yep..
How do you get insurance when you are not the registered proprietor of the car?
Reaction: As long as you have the owners name on the insurance as possessor you can insure it under your own policy
Can a car be registered and insured in one state to be driven in another?
Registration and insurance in any state will permit you to operate the vehicle in every state, but if you are actually living in another state, you must get insurance, registration, and a driver’s license in your state of residence. The only exception I know of is that a member of the armed services may keep all of these from his state of “permanent residence” while stationed in another.
You want to take over payments on a car loan without notifying the dealership so how do you register the car in your name so you can obtain insurance?
In my state at least (Virginia) the registered proprietor can add anyone he/she wants to the registration, so you could just get them to add you.
Can you register and then insure your car under two different people?
Yes, there can be two or more co-owners to a vehicle. Insurance ofa vehicle can also belong to two or more individuals.
If you are the co-buyer cosigner on a car loan and not the registered holder can the lender come after you if the registered proprietor let the insurance lapse and totaled the car?
Yes, they can make you pay for the vehicile, When you signed the finance note you promissed to pay for it if the other buyer did not. You are both identically and severally liable for the promise note you signed..
Absolutely. As addressed in many other questions here concerning co-signing..
The very next thing you should do is take that paperwork, you know the ones with your signatures and initials all over it, and read it. See what you agreed to and what the responsibilities of the signers are. .
The essence of which is, co-signing is virtually the same as signing for the loan. You have all the responsibilities of the primary signer (without the need for being on the title to the property) and stand in their place if they don’t perform. What exactly did you think the meaning and need for you signing was for?
If I was listed as the primary signer on a car loan but never received a title because the cosigner registered and insured it in his name can I be held liable for a default on the loan?
the co signer has held the title to protect their credit. you need your own isurance. the co signer has all rights in your car and if you do not pay on time you are very first to be held respondsible- you need a written agreement that you will receive the title once the car has been paid for to clear his name off the loan
Can you register and insure a car that isn’t yours?
Yes on the insurance part – I do that for my kids..
Registration can only be done whom ever is to be the registered possessor. Could possibly be done with a Power of Attorney document, but you would need to consult legal counsel for that..
If there is a lienholder, they become the legal holder until the auto loan is paid off in total.
Do you have to register your car to get insurance?
Actually, it’s fairly the opposite – Youmusthave insurance prior to registeringa car. That’s the law!!
Can your daughter be on your car insurance if you are not cosigner on her car loan?
Yes: Your spouse/children can be included on your insurance policy regardless of who was/if there was a cosigner on the car.
Do you register a car before you insure it?
No. In the states that require auto insurance, proof of insurance must be provided when you register the car. Some state insurers report insurance electronically to the DMV. Most states require proof of insurance at the time you register your vehicle in the form of an insurance card or endorsement form from your insurer. However, states have different requirements both for proof of insurance and also for liability thresholds. Your insurance liability thresholds may not permit you to drive legally in every other state. As of June, 2010, Fresh Hampshire and Virginia are the only states that don’t have mandatory insurance laws. Virginia requires the uninsured motorist to pay a $500 fee at the time of registration and at every renewal date. If you get hit by a driver in those states you or your insurance company must pay for your damages and sue the uninsured driver.
Can I register my car in NY but insure it in FL?
In order to register your car in NY you will need an insurance bar code with valid NYS insurance.
Can you register and insure a car that is titled to someone else?
1. “NO” You can not register a vehicle that does not belong to you. Two. Albeit you can get liability insurance to drive the vehicle, you can not legally get utter coverge on the car unless it belongs to you. You must have an insurable interest in the property before you can insure it. Three. All 50 US states require that you register an acquired vehicle within 30 days.
Do you have to have your car registered to get it insured in California?
Just the opposite. You have to have your car insured to get your registration. Find a local insurance agent in your area to give your their best price, choose the coverage you feel comfy with, and pay for the insurance. You will receive a Binder and improvised Insurance ID cards. Take these with you to get your registration and tag for your fresh car!
Can a car registered to someone else be insured by someone else?
Insuring someone elses carYes, Someone else can insure it for driving purposes, However you may have trouble renewing a vehicle annual registration if your jurisdiction requires the registered possessor be on the policy. It’s usually best to name yourself as well as the proprietor as covered drivers however. Protect your interests as well as the owners interest in the vehicle you’ve been given access. When done the right way, you’ll have no problem with registration and inspection, you also have utter disclosure with your insurer. Failure to disclose could void your policy so honesty is always the best policy. Your Agent can advise you of adequate coverage for your driving situation and habits. Blessed MotoringInsurance on Another persons Car? Yes, You can Insure the property of another person. So Long as youhave authorization to do so and the proprietor is benefited, or an otherinsurable interest in that property exists. An example would be a case where dad says ” OK, you can use myspare car but you gotta get your own coverage”. If You have permissive use from the holder of a vehicle, thenobviously you have an insurable interest. However, Only the Legalowner of the Property or the designated agent of the possessor canreceive compensation for the property in the event of a coveredproperty loss. If you are insuring for liability only then this is not an issue.If you buy utter property coverage, Then Dad will be proud and happyyou were prudent enough to fully insure his and your interest inthe vehicle he loaned you. List all drivers for liability purposes and list dad for propertyand liability interest. Another example would be almost every time we Rent A Car. When wepurchase the daily insurance with the rental car we insure ourliabilities in the use of Someone Else’s Vehicle. You can not insure the property of another when no insurableinterest exists. It would be unlawful to insure the property orlife of another where the intent is to build up unduly from anotherpersons loss.
Can you get car insurance without the car being registered?
Yes. Most insurance will refer to the car by VIN number, and not by license plate.
Coverage on auto insurance when you have a car loan?
Yes, you should get auto insurance coverage when you have a car loan, and even when you don’t have a car loan. The law requires it either way anytime a motor vehicle is operated on public roads..
Can you buy car insurance if your car is not registered?
Why would you need insurance if your car isn’t going to be driven on public streets? Now… if you plan on preserving your car as a collectors item or the like… you can add it to your home insurance..
Car insurance companies aren’t going to insure a car that isn’t being driven – if you have a collection at your home, it’ll go under your home-owners insurance..
Does a car that’s not registered have to have insurance in Virginia?
No. It cannot be driven on a public road. However, IF there is a loan on the car, the LENDER can require that it be insured until the loan is paid off.
Can your mom insure your car and you register the car?
If her name is on the registration of the car and she drives it sometimes.
Can you insure a car in Ireland if its registered in England?
Yes you can but it’s most likely cheaper to insure it in the UK..
Irish Customs and Excise are very vigilant in checking non-Irish registrations. You may be wiser to have all your paperwork registered as UK rather than Ireland so they cannot claim that you are resident in the Republic. You risk the car being confiscated if they believe you are resident and have not paid the vehicle duty.
In the UK can you take out insurance on a car that is not registered in your name?
Yes you can. You may have to agree only to drive the vehicle with the holder’s permission.
Do you have to be the registered proprietor of a car to get insurance on it?
I am only a registered holder of the car . someone else possesses the car how will it be insured .
Can you register a car in your daughters name but keep the loan in mine?
It depends… it may depend on local state law, but when I was in the finance business, some companies required everyone on the loan to be on the title.
Gap insurance is from the auto loan or your insurance on the car?
GAP (assured asset protection) auto insurance coverage is one the most necessary, yet least understood insurance products available to vehicle owners. It is generally purchased through the auto dealership or leasing company at the time of the initial purchase or lease. It’s purpose is plain: If your car is totaled, gap insurance will cover the difference inbetween what your insurance company says your car is worth (actual cash value) and what you still owe on your loan or lease.
Can you insurance your car and register with other person?
It depends on your state and the company. Some states (NY specifically) require that the registered proprietor be listed as the insured or 2nd named insured on a policy. They must be listed on the bar-coded insurance cards in order to register the veh. Some insurance companies have specific underwriting guidelines that require that the proprietor be listed as the insured, while other companies may not require it.
What do lenders do on a car loan with no car insurance?
The very first thing that they will do is to put compelled place coverage on the vehicle. This is a very expensive type of insurance that only protects the banks interest and only pays the bank. The premiums are added to your account and you are responsible for paying for the insurance. This insurance only provides physical harm coverage and will not pay for harm to your property or anyone Else’s. It does not provide liability and does not meet the state requirement to permit it to be driven on the street. The 2nd thing they will do is to repossess the vehicle because you have violated the contract that you signed with the lender to keep the required coverage on the vehicle. Oh yes, and the cost of impounding and storing the vehicle after it has been repossessed will also be charged to your account.
Can you get insurance for your self if the car is not registered to you?
Some companies can, I would call an independent agent for a specific company that can.
Can a car registered in MN be insured in IA?
No it must be covered by an insurance policy valid in the state of registration.
Can I insure and register a car in my name if my name is not on the title?
I know you can put the car your insurance but to register a different story
Do i need car insurance very first to register your car?
Yes, The Registration office will need to verify your coverage before they will issue you a fresh sticker.
Can you register your car without insurance?
Generally not. Virtually all states have “financial responsibility laws” that require certain levels and types of insurance to register a car or truck. In all cases, the insurer must be authorized to transact insurance in the State.
Do you need insurance if the car is not registered?
there is never a bad time to have insurance. Yes, you should regardless if the car is registered or not.
Can you register and insure a car that you do not own?
You CAN register a car wielded by someone else in some states, but doing so can lead to many problems if the driver gets into trouble and you are registered to the car. Insuring a car you do not own can also lead to problems but many more people do it. (e.g., if your dad is lending you his car and he says that you have to insure it.)
What are the best loans to get for car insurance?
This depends on what is best for your financial situation. If you have more money at the time of purchase, you can make a fatter down payment and get a loan with lower payments. However, if needed, you can get a larger loan and pay more per payment.
Do car insurance companies check for unpaid car loans?
Absolutely. They also check to see that the vehicle is titled in the name of the person who purchased the insurance
Can you legally drive a car after buying it before you get it registered or insured?
It depends on your local law, but generally speaking you get a improvised registration from the dealer. You will very likely have to display proof of insurance to get your permanent registration. If you already have insurance, usually your fresh car will be automatically be covered for some brief period of time under your existing policy, provided you notify your insurance company very first.
Can you register a car with out insurance in Fresh Jersey?
To register a car in Fresh Jersey you needCertificate of Title Proof of Fresh Jersey insurance Proof of your Social Security number or exemption The current odometer reading Your driver’s license or, if you don’t have a Fresh Jersey license, adequate identification. So no you cant register a car in NJ without insurace.
What happens if I drive my car when it’s insured but not registered?
Where I live it costs $270 fine plus towing, impound and having the car registered before it can be released. Then your insurance goes up for the disturbance. Just cheaper to register it.
Can you Have A Registered car but have someone else on the insurance?
Only your insurance company can response that – mine does… I have insured vehicles that were not in my name and insured vehicles in my name for other drivers – Geico… I have also loaned vehicles that were in collisions and they still covered them even however I did not specifically “add a driver”.
What can i do if the bank rescinds the auto loan but the car is already registered to me?
Accept it. So long as you owe the bank money on that car, the bankowns it, and has a right to reclaim it.
Can you register your car in Oregon and insure it in Calif?
Is their some reason for wanting to do this? This questions needs to include more information so that I can give you a better response. The response is that you need to tell the truth in everything you do. Register the car in the county or city where your live. Insure your vehicle and give the insurance company the correct garaging address. Your rates will partially be effected on where you live so you may think if you tell the insurance company you live at your friends in another place and taxes might be cheaper at your parents house. In all these cases you are becoming a liar in order to save a dollar or two and you are jeopardizing your insurance coverage for this dollar or two. If you have a claim where your car is cracked into at your home but it’s not the home on your insurance application. That is called material misrepresentation or lounging to the insurance company so guess what, they don’t have to pay your claim because you broke the contract.
Can a car be registered to one person and insured by another in Virginia?
No. You can only insure a vehicle that you own. The only situation where this is different is a married duo.
Are you in default of a car loan if the vehicle is not registered?
Registration of the vehicle has nothing to do with the loan or financing of the vehicle. The only was to “default” is to not make the payments.
Can you get your car registered or get insurance if your license is suspended?
For your safety, wait till the suspension of your driving licencegets revoked.If you are already having a car insurance policy,andyour car is entangled into an accident during suspension period,you wont get any insurance claim from the insurance policy. You mayalso be trapped into police interrogation for driving with asuspended licence.
Can you have car insurance in Buffalo NY but register the car in nyc?
No. You would need to put your residence address on both the insurance contract as your garaging address and Fresh York will require the same address be where the vehicle is registered. In either case if you lie you will certainly jeopardize your insurance coverage and very likely be in trouble with the authorities as well.
Can a car be registered to one person and insured by another in Iowa?
No. Unless they are members of the same instant family who live in the same household. Anything else is against the terms of your policy which is a legally trussing contract. Be very careful with this. If you insure a friends car on your auto policy and they have an accident, your insurance company cannot pay you for the damages because you don’t own the vehicle, and they can’t pay your friend because they don’t have a contract with the insurance company. Not only will no one be paid for the claim, but you have also committed insurance fraud based on “material misrepresentation”. Say your friend hit another person. The insurance company cannot pay that person either. You will be sued by that person and your friend. As for your friend, you technically sold them insurance without a license nor a contract to sell insurance with the company. Your friend and you will be sued and the company will also not pay for your legal defense. You will be screwed all the way around just because you dreamed to save money and screw the insurance company out of premiums.