Can I take insurance off a vehicle that is financed?

I live in SC and I have a car that I make monthly payments on through a bank. I want to take the insurance off that car and just park it. is this possible if I still will make the payments but I am just not driving the car because I have another car plus a truck. I want to drop the insurance and turn in the tag to the DMW.

Sep 25, 2018 Summerville, SC

Ava Lynch

Sep 25, 2018

In most cases, if you owe money on a car you have to have insurance on it. This is the case even if the car is parked. You can check with your finance company to see if they will let you drop the coverage but it would be up to them. We can help find to find you a lower rate at or you can 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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