Car insurance question.?

Car insurance question.?

Do i have to have a full coverage auto insurance on a car that is financed through the bank in the state of florida? I have a car from a nissan dealer if that helps!


Almost 100% yes. In very rare circumstances would you be able to get around having "full coverage." Now, that being said, you might not wish to carrly liability only on a car you still owe on regardless of the answer. Ask yourself: "Do I want to continue making montly payments on a car I no longer own because I totaled it and couldn't get it fixed?" If you wish to get more in depth info on the specifics of coverage, you may wish to read the following article: Have a great day!


yes u do if dont they will come get your car and keep it until you get insurance on it


So,a few of things you are supposed to think.I have had good experience here.......


Yes, you do.Source(s):


No, you don't have to have "full coverage" (if there is such a thing)The lien-holder (bank) is only interested in the outstanding amount of the loan, and the asset (car) is collateral on that amount.They only require you to carry comprehensive and collision coverages on the car so if you have an accident or the car is stolen or suffers a decrease in value due to any other kind of sudden and accidental loss, their collateral is recoverable.Most states, however, require liability coverage, so you will also be needing whatever minimum coverage your state requires.If you want my advice, get UM as well. I was an adjuster for 10 years and the people that need UM the most usually don't have it.It's like the fellow who encountered a leprechaun when crossing a dry-riverbed at night. The leprechaun told him to reach down into the darkness and fill his pockets with the gravel from the riverbed. The guy half-heartedly did as he was told and scooped a few stones into only one pocket. He was miles away when the sun rose, and when he pulled the stones from his pocket, they were all gold nuggets. It was then he wished he had filled his back-pack . . .but he hadn't.This is the story of insurance.


Yes. All auto lenders insist that you have full coverage on the car, because it is their car until you pay it off (they have the title, you only have the registration). If you cancel the coverage, or don't pay your premium, the lender will find out. They have this information, and they will buy insurance on your behalf and charge you for it. Don't let this happen as it will be ridiculously expensive.If the car isn't worth much, but you still have a little left on the loan, consider paying it off with a low interest credit card, or a home equity loan. This will lift the lien on the car, and then you can do whatever you want.



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