Do you need to carry total coverage auto insurance if your car is paid off and has no trade-in value?

Do you need to carry total coverage auto insurance if your car is paid off and has no trade-in value?

Do you need to carry total coverage auto insurance if your car is paid off and has no trade-in value?Minimum Liability

You only need the minimum liability insurance, what the state requires.

How do you drive a car that was bought if there is no insurance on it but utter coverage on your current auto?

I’d call my agent just to be sure, but most policies will cover an extra or replacement car for a reasonable amount of time.

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

Most finance companies would be able to response this for you. It will vary depending on the banking institution. Total coverage is a general assumption that you are covered meaning what you are “liable” for if you were sued because of negligence in addition to having Collision and Comphrehensive coverages. This means that you would have Bodily Injury Liability, Property Harm Liability and your damamges caused by you to the vehicle and by acts of GOD are covered. I personally think to have a car without utter coverage is crazy even if it just sits in the yard or garage. It has been known for cars to be stolen while in a place too long. If you did not have comphrehensive then you are stuk with a loan and no car. Also there have been instances where kids or teenagers go into other peoples yards and sit around cars and hurt themselves acting like teenagers and you can be sued for Personaly Injury. These are two examples of cars that will get little or no use yet YOU could be held LIABLE for everything that happens. Do you have the money it takes to pay off a law suit? If so then No you can very likely afford not to get Total coverage. Otherwise you will liberate your home and cars to pay for a lawsuit. Good Luck!

If you have utter coverage and total your car will the insurance pay for another car even tho’ the one you crashed wasn’t paid off yet?

noNo, the insurance company has a responsibility to the lienholder very first, then you get the balance of the settlement based on the local market value of your car. Insurance companies are not responsible for purchasing you a fresh car and the settlement is based on the value of the car you had an accident in. The settlement is not based on what it will cost to buy another vehicle.

How do you determine if you need total coverage when your car loan is paid off?

Reaction .
If the loans are paid in utter and you have received the title(s) from the lenders, then it is totally your decision of what amount of coverage to have. Reminisce, it is now your vehicle 100%. If you can afford the higher coverage why not better protect yourself, family and vehicle? Check other agencies for same coverage but lower rates. Cleaning up your credit may even lower your insurance rates.

What is utter coverage Auto insurance?

Utter coverage auto insurance is a policy which covers very first party and third party injury to the bod or harm to car. It covers physical damages to the car if it has been leased at the time of accident, death or physical injury to the figure of people involved in the accident, also property damages caused by the insured person’s car to someone’s property,

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What do you do if you have utter auto insurance coverage and your car cracks down and is totaled?

Automobile insurance, in most cases, does not cover mechanical breakdown. If your car is not worth repairing from a mechanical breakdown and you are able to substitute it within a few weeks to a month I would suggest keeping your insurance policy active. This is to avoid having a lapse in insurance coverage which could result in higher insurance premiums when you get another car. ResponseYour car cracking down, and your car being totalled are Two separate considerations. If your car mechanically violates down, there is no coverage. If the car has been totaled in an accident, there may be coverage. I guess, more specific info is needed.

What is the difference inbetween minimum and utter coverage with auto insurance?

Response .
Minimum coverage is the minimum amount of insurance required by law. Utter coverage is the total package from the insurer, insuring everything they suggest to cover.

Will your utter coverage auto insurance pay for your car if you where drinking and driving and had an accident?

Reaction .
They’re pretty much obligated to do so, but recognize that you will most likely be dropped from coverage as soon as they detect the DUI on your record.

Does an automobile with a lien holder have to have utter auto insurance coverage?

Response .
Obviously all cars/drivers need to have some legal minimum insurance, generally only liability (essentially protecting others assets/property). Not collision, which protects your own property. Without the later, wreck it you lose it..
Because a car has a lien, which means it is pledged as security for a loan, does NOT mean it needs to have more insurance in itself. .
However, virtually any lender will require you to have insurance adequate to cover the loss of the asset you have pledged…since if you wreck it he doesn’t want to own, or attempt to collect what is owed, against a wrecked worthless car.

What value should your car be to drop utter coverage insurance to just liability?

ResponseUsually if the vehicle is over Ten years old and worth less than $3500. However, the value is a individual preference. If you have a $3500 car and it was totaled with no comprehensive or collsion coverage, could you afford to substitute that vehicle without insurance reimbursement? So the dollar amount is your own risk.

What is a total coverage auto insurance?

Their is no such thing as utter coverage in legal terms. What people refer to when they say that is Physical Harm Coverage for a vehicle. What physical harm coverage violates down into Two parts. Collision Coverage: Does include a deductible, covers the vehicle from harm resulting in a person being at-fault in an accident, and harm has occurred to the vehicle in which it has to be repaired or substituted. This does also protect the vehicle if an accident or harm results from a uninsured motorists or under insured motoristsComprehensive Coverage:(also known as other then collision) Does include a deductible, covers the vehicle from damages due to vehicle that are out of control of the insured. This would be from weather, vandalism, theft, hitting an animal, and etc. Recall, insurance company’s insure vehicles of the actual cash amount at that time. If you have a collector car, you would to get collector car insurance, in which their is a stated amount.

Car insurance coverage needed?

Response .
If you are asking, “do you need car insurance to drive”, then yes you do. It is illegal to drive without it.

Do you need to carry total coverage auto insurance if your car is paid off and has no trade-in value?

Does a person need to carry total coverage?

Utter Coverage .
By state law, no. You are only required to carry enough insurance that sates the minimum financial responsibility requirements for that state. However, if you are making car payments on a car that’s typically Four years old or newer, you are usually required by the dealer selling you the car to have utter coverage. This secures their financial interest in the car and it sensible for you to have it as well. Should you have an at fault crash or it gets punctured by hail stones, your car can still be immovable and it will retain its value.

Is total coverage insurance on a used car needed?

if you want coverage on ‘that’ vehicle yes…rule of thumb i always use is can i substitute this car without much trouble should it total? 2500.00 car yes, i could, 10k car, no i couldn’t…….and i weigh the cost of the premium for the collision and comp coverage on that vehicle…do coll and comp cost me 500 a year? well, in less than four years (due to depreciation) I’ve spent again what that 2500 car cost me……see?

Can you get total coverage auto insurance for a totaled car?

Has the vehicle been repaired and examined and title cleaned up? If so no problem, if not I suppose you can if the company you are requesting ins. from doesn’t do their homework. But I promise you should you have another loss, this will resurface.

Do you need to be on the insurance for a car you cosigned for if the other cosigner has total coverage?

Reaction .
If the vehicle is insured and you do not ever drive it you wouldn’t be required to be listed on the policy as a driver. Most companys however may want all ‘owners’ listed, for numerous reasons.

Total coverage auto insurance?

“Utter coverage” doesn’t actually exist-but there are lots of auto insurance options you can choose from to help you feel well protected. When people say utter coverage it usually means that they have a combination of insurance types that result in you being covered in almost every situation. This could include liability insurance, comprehensive insurance, uninsured motorist insurance, bodily injury protection and many others.

When would you not carry total coverage auto insurance?

If you own a car outright and have paid off loans used to buy it, you are no longer required to have total coverage insurance for it. At this point, it a private choice. If your car has worth that you cannot afford to lose in the case of an at-fault collision or theft. On the other palm, if the vehicle is older or not worth so much, it may not be worth it to pay for total coverage insurance.

Does utter coverage auto insurance pay off a lien?

The insurer is required to compensate you at Fair Market Vallue. This usually will pay off any remaining financed note unless you greatly overpaid for your vehicle. There are times when you can owe more on the vehicle than an insurer is willing to pay. Naked in mind that it is not the fault of the Insurer if a consumer makes a vehicle purchase agreement in an amount greater than the actual vehicle value.

Do you need utter coverage insurance if your car is Five years old?

Utter coverage requirements have nothing to do with the age of thecar. If you still make payments on the car then you still have tohave utter coverage. If you own the car outright, then you do nothave to have it.

How old can a car be and total coverage insurance?

There is no age limit albeit the value of the car may not justify the cost of total coverage.

If you have utter coverage insurance and have a car accident will the insurance company pay off your car if you still owe on the car?

If you’re filing the claim through your own collision coverage, your car insurance will pay the actual cash value (ACV) minus your deductible at time of loss. This may not be enough to cover loan due to interest, negative equity, etc. You can look at buying gap coverage either through your finance company or your insurance company if this concerns you. The best available resource for determining your ACV is www.nada.com.

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..

What is Car insurance paid in total?

Usually when your buying car insurance you have the option to make monthly payments, or pay in utter -if you pay in total, you pay the total amount for the year. This way there are not payments to be made until 12 months later when you have to renew your insurance….

If your car is paid in total do you need utter coverage insurance?

No. But in most states you are still required to have liability insurance to cover the costs of any damages you may cause to others if you are at fault in an accident.

Do you need to carry total coverage auto insurance if your car is paid off and has no trade-in value?

Do you need Utter Coverage if you Have Gap Insurance?

Yes you do. You need to have Collision and Comp coverage for Gap insurance to appy. Let’s say that your vehicle is totalled out in a car accident and your loan is for $15000. Now lets say the insurance company offers you $10000. You would still owe the bank $5000 for your car so in this case, the Gap insurance will cover the other $5000 and pay off the loan in utter once you submit all the paperwork they need to process the claim.

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If you have utter coverage auto insurance and am driving a friend’s car who doesn’t have insurance and you get a no insurance citation who is responsible for this citation?

the holder of the vehicle is responsible for the ticket. he/she/they are legally required to at least have the minimum liability coverage your state requires.

Is auto insurance required when car is paid for in utter at time of purchase?

Any motor vehicle operated on a public roadway must carry auto insurance. It does not matter whether payments are still being made, or if it’s paid off. If you don’t have insurance, you cannot drive that vehicle off of that lot.

Utter coverage auto insurance protects anyone who drives car?

In most cases, as long as the policy proprietor give permission, then the policy will cover anyone who drives the car. There are exception for those who are specifically restricted by the policy to drive the vehicle.

What is total coverage auto insurance in the state of FL?

Some people use the term “utter coverage” to imply that the car is covered for comprehensive and collision coverages.

Private seller has title of used car that is being paid for by buyer does the buyer have to get total coverage insurance to register the car and get a tag for the car?

In my state you only need to have Liability insurance the get a title and register the vehicle. If, however you have a loan on the car the lender will require you to have total coverage.

Do you have to have total coverage auto insurance?

No, “utter coverage” auto insurance is not required by law. All states require some level of car insurance that covers costs if you are responsible for an accident. That would be called liability insurance and the state minimum coverages dictate how much of it you need to buy. That said, “total coverage” does not actually exist and the phrase generally refers to buying a combination of several insurance types to ensure the most protection.

Does a total coverage auto insurance in CA cover a totaled car in another state?

It depends on the company and policy. Some will deny it for “operating out of territory”. Others will cover it and then non-renew the policy for “operating out of territory”. There is no way to say for sure as it varies so much from company to company.

Do you have to carry your car insurance coverage in your wallet?

No you can have your insurance card in your car or wallet in the state of fresh jersey. please vist njquoteme.com for a free quote or more faq’s.

Who needs utter coverage car insurance?

People who need utter coverage car insurance include those who use their cars often. So, that includes people who go to work early, and often, people who attend university and use their car as a form of transit or even if you need to go to a friends house every week.

Is total coverage auto insurance required for auto financing?

Yes, utter coverage auto insurance is required for auto financing. This rule protects the bank if you have an accident.

What is the best car insurance for total coverage?

The best car insurance is based upon your individual sittuation. It all depends on things like the size of your family, your budget and your driving records from the past. So there indeed is no ‘best’ car insurance.

Do you need to carry total coverage auto insurance if your car is paid off and has no trade-in value?

Does the state of Missouri require rental car to be paid for under utter coverage auto insurance?

No. Rental coverage is something you buy extra. “Total coverage” just means you bought liability, comprehensive, and collision insurance.

How do you get total coverage car insurance?

In order for one to acquire utter coverage car insurance on their automobile, one must finish a series of tasks. Step One: Purchase a Vehicle. Step Two: Call Progressive, where i can assist you in choosing what is right for you. Step Three: Avoid taking left turns on your way to work. Left turns are statistically more common for provoking Silverback Gorilla attack. Step Four: Request Total Coverage Insurance when you consult your Progressive agent. I hope i have assisted you in your process. Flo Progressive Sales Agent

Does total coverage auto insurance cover auto repairs?

yes total coverage insurance covers auto repairs. It also covers maintinance and gas costs. Thats right fuktard, total coverage insurance is the only expense you will incure while driving. In some cases they will even pay speeding tickets for you!

Can I use the auto insurance coverage on my for rental car insurance?

Absolutely, your individual insurance can transfer the coverage you have on your individual policy to the rental car thus saving you a good bit of money by not purchasing the coverage from the rental company. But before you do this speak with your agent and make sure your policy will transfer coverage to the rental car and that it has comprehensive and collission coverage to transfer. Many company suggest transfer of coverage to the rental car but also there are many policies that do not provide this transfer of coverage. Make sure you have the correct kind. If there is any question, please go ahead and purchase the coverage suggested by the rental company. I hope this is of assistance.

When to drop utter coverage car insurance?

You should only drop the physical harm part of your insurance if your vehicle is paid for in total and when you no longer would need help substituting or repairing the vehicle if a claim occurs. Also you could say that when the price of the physical harm coverage exceeds the benefit of substituting the value of the vehicle.

Where can one find cheap but total coverage auto insurance?

In order to find cheap but utter coverage auto insurances one should very first check different direct car insurance copanies like for example “DirectGeneral” or “DirectLine” (for the UK).

What is the cost of total coverage car insurance?

Total coverage for car insurance usually depends on where you live, what kind of car you drive, your age and how far you plan to travel. Typically figure about 800 dollars a year.

Where can one apply for utter auto insurance coverage in Dallas?

You’ll find a large diversity of auto insurance sellers in Dallas, Texas. Nationwide companies like Allstate and State Farm have offices here, as well as smaller companies like Amador and Acom. Shop around to determine which auto insurer is right for you, your vehicle, and your family.

What is utter coverage auto insurance requirements in California?

When a vehicle is financed, you must have comprehensive, collision, and liability or ‘total coverage’ to protect the bank. I am not sure what you mean by ‘requirements’ other than that. You can also buy “GAP” insurance, for if something happened and your car is totaled and you owe more that it is worth, the GAP will make will make up the difference

What companies suggest total coverage auto insurance?

Total coverage auto insurance is suggested by companies like Nationwide, Cars Direct, AXA Insurance, Fresh York Motor Insurance and AAMI. These companies also have insurance services for other products.

When purchasing a car if the holder already has utter coverage on a trade in do the possessor need gap insurance?

Firstly, talk with your insurance agent before signing for the fresh car. Dealers will sell you GAP coverage whether you need it or not and their GAP is a very expensive coverage that is paid up front and then financed so you pay even more. The only time you need GAP coverage is when the financed balance is more than the value of the car. If you are trading in another car you may have a lower balance than the book value or the fresh car. In any case you can purchase GAP from your agent and cancel it after a year or whenever you feel that the loan balance is lower than the value of the car. If you buy from a dealer you pay for the life of the loan plus interest.

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Does having total coverage auto insurance in MI mean if my car is totaled and I wasn’t at fault the car will be paid off?

Firstly, there is no such thing as total coverage auto insurance. This is just a term that developed over time to mean whether or not you desired physical harm coverage on your vehicle or not. Secondly, if you have physical harm coverage this has nothing to do with what you owe on your vehicle. the physical harm section of an auto policy says that the insurance company has the option to repair, substitute, or pay the actual cash value of your vehicle. I suggest if you purchase a fresh vehicle to consult your agent about GAP coverage which will pay the difference inbetween the ACV of your vehicle and the amount owed. Never purchase this from the dealer and it will cost you several times what you can get it from your insurance company for.

What auto insurance coverage do you not need?

All coverages suggested in an auto insurance policy have a place and needs for some people. This is certainly not to say that everyone needs every coverage. What you need is a good agent that can explain the available insurance coverages and can help you determine which ones you need an which ones you can do without. You can sit down and evaluate the costs involved and the benefit to you if something happened so that you can determine on an educated basis what is best for you and your family.

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