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Can my bank charge me for car insurance?

Can my bank( financial) charge me because I didn’t have a car’s insurance for two months? I missed two months to pay for my car’s insurance.

Agent Answer

Ava Lynch
Finance companies usually require you to have insurance on your car while you are making payments. Companies can back charge you for not having insurance – which is essentially called Collateral Protection. This is usually added to your car payments. For the specific details and rules, I would speak directly to your finance company. If you need a new insurance policy, we can quote you with several carriers at You can also give us a call at  833-768-7789. Good luck and if you have any other questions, don’t hesitate to ask.

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