How long do I need full insurance coverage on a financed vehicle?

Answer In California, anyway, you need full insurance coverage on a car the whole time it is financed. After its paid off, you can drop a bunch of the coverage and just carry liability.

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If you cancel full coverage on a financed vehicle and transfer it as a gift will the new owner be required to get full coverage on the car?

%DETAILS% Answer You cannot transfer the title while the lender has a lien on it and they will NOT release the lien until the loan is paid off. They will also NOT allow any names on the title that... Read More »

Do all financed cars in NJ need to have full coverage insurance even if not driven?

Answer Most finance companies would be able to answer this for you. It will vary depending on the banking institution. Full coverage is a general assumption that you are covered meaning what you ar... Read More »

What is the minimum insurance coverage in Florida for a financed vehicle?

If you are driving a financed car in Florida, the minimum insurance requirements are $10,000 bodily injury coverage for one person, $20,000 for two or more people and $10,000 property damage covera... Read More »

What will happen to your current insurance policy if you transfer from a newer vehicle with full coverage to an older vehicle with basic coverage?

The cost of the monthly permiums should go DOWN, as the cost of replacement of the car, or repairs to it will be less expensive.Check with the insurance agent.