General Insurance

Can lienholder be responsible in car accident?

If you keep the car registered in your name, there is a possibility that you could be held liable for damages that exceed the driver's policy. It is not common, however, there is still a chance.

Compare auto insurance rates and save up to $670 per year!

Location pin icon
Most Recent

General Insurance

Will my insurance change after I pay off the loan?

The financial status of your vehicle does not impact your rates. If you decreased the coverage to liability only then you would see a significant decrease in your rates.

Coverage & Claims

Why does my dealership require my lienholder/bank be listed on my insurance to take my car home?

<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;When you finance a vehicle it is owned by the bank or lender until you have paid the full balance of the loan. The bank or lender requires that they be listed on your insurance coverage before you take possession of the vehicle so if the vehicle happens to be totaled as soon as you drive off the lot and at any point in time during your loan period your insurance provider knows to pay them first to cover your balance.
Icon-Agent
Ask an Agent

Get free insurance advice you can trust.

Ask a Question