Do you pay insurance on a leased car?

Do you pay insurance on a leased car?

Do you pay insurance on a leased car?yes

Can your car get repossessed for not paying your insurance?

Reaction .
IF your loan contract specifies that you must maintain insurance covering the vehicle, the response is YES..
Reaction .
Just an echo of the previous response, most major lenders require that the vehicle maintain total coverage insurance. It states in your finance agreement that the vehicle must remain insured or it can be repossessed.

If you dont own a car do you have to pay insurance?

You only need Auto Insurance if you have a vehicle. Additionally, if you primarly rent vehicles, you should purchase a “non-owned” policy, or be sure you purchase the insurance that the rental company provides. ReactionAbout the only time that you have to have auto insurance without possessing a car is if you are required the have an SR-22 in order to maintain a valid driver’s license. In the case where you don’t own a car but yet need to have a driver’s license and are required to have the SR-22 then you would be buying a non-owners insurance policy. ReactionYou only need insurance if you plan to operate a car (yours or anyone else’s). If you don’t plan to drive at all, some states suggest a state ID card which is cheaper than paying for a driver’s license. ResponseUsually it’s the CAR that’s insured, not the driver. Anyone who licenses a car in just about any state is required to have a liability policy that will cover any driver. But if you’re planning to do a lot of driving of borrowed cars it might be a good idea to get insurance. Many vehicles only have liability insurance. If you want to be protected in case you harm a borrowed vehicle you might want to talk to an insurance agent to see what it will take. It all depends on what YOU want to do. If you’re talking about insurance for rental cars, most states require that the rental car company carry liability insurance. You can get a premier credit card that carries rental car comprehensive/collision for you at no extra cost when you charge the auto rental to the card. ResponseNo. Insurance is for people who drive. Even if you have a car, you don’t have to insure it unless you drive it. ReactionNo. The insurance is on the car, in order to provide money A) to you if you harm the car and don’t have the pocket money to repair it, B) for the lien company, should the car become demolished while you owe on it, C) to others, when your car damages their property (other cars, buildings, traffic signs, sidewalks, grass, fire hydrants… you get the picure) ResponseNot if you live in the US. Everything is relevant to the state laws where you live. In MA for example, if you are going to drive your parents car you (or they) will have to pay extra premiums for your inexperience even tho you are only an occasional operator. If you live with them, have a lic and will not drive the car, they must sign you off as an exluded driver. If you say live by yourself in Boston, and have no car, no,,,you do not need insurance. YOu can drive a friends car and will be covered on his unless you are making a habit of it. If you rent a car, you must buy their coverage! 4lifeguild.com

Will your insurance rate be lower if you lease your car vs your company leasing it?

Response .
1st question, is it your company or one you work for?.
If your company leases it, it will no longer be a private auto policy so yes, the rates are different. Call your agent to find the reaction.

Can any insured driver drive someone else’s insured leased car?

Reaction .
You are covered if you are a licensed driver regardless what they say..
A leased vehicle is possessed by the leasing agency not by the person who is leasing it..
The terms of the contract will designate who may or may not drive the vehicle and nothing else applies.

Will your insurance pay for your car you totaled and it was your fault you have utter coverage on your leased car?

Leasing .
This is sort of an educated guess, but I believe the insurance would pay the dealer and not you. I simply say this because when leasing, you never own the car, you simply “rent” it for a definite amount of time.

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If my car is impounded will my insurance pay anything to get it out?

Maybe, is it in the impound yard due to an accident, and you have collision coverage? Or was it impounded due to being parked in the wrong place? If the impound was due to a covered loss they should cover it. If not, no they will not. Insurance company will pay fees associated with impound for car accident if there is collision coverage, theft or fire if the car has comprehensive coverage and as the above reaction states, a covered loss. Anything other than that, you are on your own. Impounds charge an exorbitant rate as well, commonly set by cities an states. Rates fro $30-$100 per day, plus the tow. That is why insurance companies want these vehicles with covered losses out of the impounds and to shops or if possible total loss to auto auctions where they are not getting hit these fees. The reason I mention the money, is that if you do not have a covered loss, you need to get the vehicle out instantly because the money adds up quickly. Some impounds will store the car for 30 days before being disposed of, but even at $30 per day, it starts getting too expensive to retrieve the car. Years ago, Chicago impounds were disposing of vehicles in 10-14 days, and trust me when I say (I know from practice towing these vehicles out) the impound is not the friendliest place to do business.

How much do teenagers pay for car insurance?

There are many factors that determine the rates for car insurance. Far too many to spell out for anyone. Masculines pay a little more than females. Masculines reach a utter adult rate usually at the age of 30 if single and 25 if married. Females reach the lowest adult rate at the age of 25 if single and at any age if they are married. Different companies have slightly different rating systems so this is not the same for all companies. Teenagers usually have their rates go down at 20 or 21 and can get substantial discounts if they are students with a B average (Three.0) or if they have taken a 40 hour certified drivers training class. 16-18 year old masculines rates are the highest and are about Trio to Trio.Five times the adult rate and they reduce at different points. The foregoing provides some general guidance that applies in many cases. However, there are other factors that have to be condiered. Some of them include the following: 1. The State in which you live. By and large, insurance rates, from which premiums derive, are regulated by the State(s) in which an insurance company transacts business. The insurance regulatory authority generally takes the position that a rate (the cost of a unit of insurance) may not be excessive, inadequate or unreasonablu discriminatory. This means that the insurance company may not reap a windfall profit, but likewise, it must charge enough to have enough money on arm to pay anticipated claims. “Unreasonably discriminatory” refers to the requirement that risks of a similar type have to be treated similarly. Two. All insurance companies have to have underwriting guidelines that are approved by the regulator. These are the metes and bounds of what they will insure and what they will not. They do not dictate premiums, but they have a bearing because the guidlines may provide that a risk will be insured at a higher, or lower rate than another one. Trio. Auto insurance also has different elements: the main ones are liability, collision, no-fault coverage (albeit the latter may be called something else in some States, and uninsured/underinsured motorist coverage. Albeit no-fault coveraage is generally a required first-party coverage (it pays a portion of the insured’s own medical bills and lost wages), it is pretty standard so the premiums vary less than other coverages. Collision coverage pays for physical harm to one’s own car. Unless there is a lien outstanding on the car, the insured can opt to buy it or not. If purchased, it can be bought with various deductibles–the higher the deductible, generally, the lower the premium. Uninsured motorist coverage is a type of first-party insurance. It comes into play if you were in a collision with a person that did not have liability insurance. The coverage applies to bodily injuries that you sustain from the collision and compensates you for them in much the same way as the other person’s liability insurance would have if he/she had it. The cost of it depends upon how much you buy. Generally, your insurer has to suggest it to you in an amount that is the same as your liability coverage. You may buy more, less, or reject it altogether.

What if you don’t pay your car insurance?

Very first, your policy will be cancelled. Then, depending on what state you live in, the insurance company reports the cancellation to your Motor Vehicles department. Depending on how efficient they are, either your drivers license or car registration (or both) can be revoked. In some states, law enforcement will come to your residence and eliminate the plates from the vehicle. If you have a lien on the vehicle, you’re still paying on it, your lender may impose their own insurance on the vehicle. This is expensive, and does nothing to protect you. It only protects the bank in the event the car gets totaled. In many states, lender-imposed insurance does not meet state standards, so you still get revoked, and still have to pay for the car and the lender-imposed insurance. Then you have to pay the state to get your license/tags back, plus a penalty. You have to pay a large down payment to re-establish normal insurance. In some states, you may be compelled to get SR22 insurance, which is up to three time as expensive, before you can get your license back. It’s lighter and cheaper by far to pay the car insurance bill on time.

Does your insurance company pay for your car?

If you carry total collision and replacement of your vehicle, depending on your insurance company, they will pay the blue book value of the car if it is totaled. That is why it is significant not to ever owe more than the car is worth, which is referred to as “being upsidedown.”

Will car insurance pay if totaled car?

If you have total coverage they might pay you the lowest market value fo your car. They will deduct your deductable.. Insurance companies are out to make money so they will find the cheapest way out

When leasing a car is the annual insurance included in the lease cost of the car.?

No, insurance is always the burdern of the car holder, not the dealership. When leasing or purchasing a car, the person acquiring the vehicle is legally responsible for acquiring car insurance.

What happens when you do not pay car insurance?

Legal issues such as a minumum of $500 fine. That only goes up if your caught more than once. Possible suspension of driving. Also if your in an accident and it was your fault well that cost is out of your pocket rather than the insurance company.

Do you pay insurance on a leased car?

If your car is hit by debris from a roof will the homeowner’s insurance pay or will your car insurance have to pay?

Depends if it is (1)your roof and your car, (Two)your neighbors roof and your car, or (Trio)your roof and your neighbors car..
1 – You can’t sue yourself so your homeowner’s liability is out of the question, if you have comprehensive coverage on your car it will be subject to that deductible and your car insurance will pay..
Two – Your neighbors homeowner’s liability coverage will pay for the harm to your car..
Trio – Your homeowner’s liability coverage will pay for harm to their vehicle..
Two or Trio you may want to get an estimate on how much it will cost to fix your vehicle, having a homeowners claim can gravely influence your capability to qualify for competitive homeowners insurance rates and you should only file claims against your homeowners if it is truly necessary. I would say if the cost to repair the car is under $2500 you should work out an agreement with to pay out of pocket instead of through homeowners, unless you can get a gaurantee in writing from the homeowners insurance telling your rates will not go up due to the claim. Good luck.

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Does the primary lease holder on a car lease have any liability if the car is in an accident if the car is registered and insured by the co-signers of the lease who is not the primary?

If others who are co-signed on the car are in an accident, and cannot afford to pay and charges or fees as a result of that accident, then yes, as a co-signer the primary lease holder will be liable for those oustanding payments.

If you give you leased car back before the lease is up do you have to pay anymore on it?

YES, You are still obligated to accomplish your term of lease contract.Even if you are purchasing or leasing another vehicle and determine to trade or turn in your current lease YOU STILL OWE THEM!!!!! The leasing company is still entitled to remaning payments.. Best to look at your lease agreement…

Do you have to pay sales tax if you buy out a lease car?

Yes, you do have to pay sales tax – it’s like purchasing a 2nd mitt car. You still pay sales tax

Do you pay taxes when buying out your leased car?

Each state sets its own rules about sales taxes, but generally yes – auto purchase is taxable….however make sure that it was not included in the original capitialized cost once already and instead was being applied to each lease payment.

IF you have your lease car repossessed do you have to proceed paying after they sell it?

this would vary from situation to situation. In general, No. but without watching all the terms and all the paperwork you signed, no one can tell you for sure.

You were in an accident your car is a lease and it was your fault and you have no insurance what is going to happen?

You are going to have to pay all cost out of pocket. Also you may be given a severe ticket for driving without insurance.

Can you be sued after car insurance pays?

Yes, if the person that you hit feels that there was not enough payout. Or there injuries where life treating or there injuries are keeping them from ever returning to work or live a normal life.

You live in Michigan you had an accident with a leased car with full-coverage insurance and it was their fault Will they pay for your car to get motionless?

There insurance will cover the cost of repairs to your vehicle. This works with any vehicle even if it is a rental.

When you lease do you pay interest on the price of the car?

The interest is calculated on the purchase price (not the msrp or the difference inbetween the price and the residual) so negotiate as big a discount as you can to pay less interest.

Does the car that’s insured pay for the car that is not insured?

In this state, the person who caused the accident is at fault. If the person at fault has insurance then his insurance should fix the other car. Otherwise, in this state, the person at fault owes the money himself to fix the other car. The insurance company will not pay one cent to fix the other car.

Will your car insurance pay for car rental of a repro car.?

You may be able to purchase vehicle rental or replacement coverage, call your agent to see what it would be. It is usually very affordable.

What if you stop paying for your car lease?

They Will reposes it and sell it them make you pay the difference any way.

Do you pay insurance on a leased car?

Can you pay your car insurance online?

Yes. I paid my car insurance on line. It depends on what type of insurance you’re referring to. Health, auto, home, life? If you have health insurance, it is most likely through your work, and in most cases, they take care of the payment. Most auto, home, and life insurance companies have a website you can access and pay your bills through. Most sites can be found through google.com. The best option would be to call your insurance provider to find out their specific options.

Do you pay tax on car lease in nc?

Yes you do, I just got taxed over 200 dollars on my leased car and I’m in my 1st year of my lease. Check your lease, it will tell you who has to pay the property tax each year.

Can someone else buy insurance for a lease car?

Yes but you would need to have the lessor and the lessee as extra insureds on the policy.

When can you stop paying car insurance and why?

You can stop paying car insurance when a) you no longer drive or b) you no longer own a car. You should always have car insurance if you’re an active driver because you never know what could happen on the road. Insurance will treat most of your paperwork and deal with repairs, rentals, towing, etc.

Who do pay your car insurance deductible to?

Your deductible only gets paid in the event of a claim. For example, you tap a light pole in the mall parking lot. The pole is ok but your car is bruised. If you have comprehensive coverage on your car, your insurance company will pay a claim to have it repaired. So, you get a assets shop who says it will cost $1,400 to fit it. If your deductible is, say, $500.00, your insurance company cuts a check to the bod shop for $900.00 which is the difference inbetween the harm repair bill and the deductible. Thus, you must come up with the $500.00 amount.

Does a bank have to pay tickets on a car it has financed or leased?

No. Tickets must be paid by the driver or the individual leasing the vehicle, and not by the bank. However, once the vehicle has been repossessed, the bank is then responsible for the vehicle (including any tickets which may accrue).

How often do you pay your car insurance?

When applying for auto insurance, the applicant is usually given options as to the frequency of payment of premiums. It can be monthly, quarterly, semiannually, or annually. Frequently, somewhat of a discount is suggested for the longer payment durations, as the insurer incurs lower internal costs, such as for billing.

Does the insurance pay primarily the car that is driven?

There are man parts to an insurance policy providing many different types of payouts to numerous parties.

Can you pay fresh car state tax in lease payment?

It depends on the State. Some insist on you either paying it as part of the cost of the vehicle (upfront, albeit it is actually paid by the lender who is the one actually possessing it and becomes an amount capiltialized), or that you pay that amount (to the lender, who pays it over to the State) on each lease payment. some give an option. (California).

What do you do when your car insurance wont pay after an accident?

Check your policy, and if they are attempting to cheat you, then sue them till they have to pull out a loan just to go to the bathroom.

Why do you have to pay insurance when purchasing a car?

There are a number of reasons, two of which include: 1. The financial responsibility law of every state requires liability auto insurance as a condition of registration. This ensures that the possessor has some minimum level of insurance that will reaction to an harmless party if the insured vehicle’s driver is negligent (careless) and causes harm to the person or property of the virginal party. Two. If the vehicle is financed, the lender will require collision coverage. This provides a source of money from which the car can be repaired in the event of a collision. The lender is worried with this because it loaned money based upon the value of the undamaged vehicle. Repair may therefore restore (most) of the value of the repaired car.

Is there a grace period for paying your car insurance?

No The insurance coverage expires the instant, Usually 12:01 AM, that the payment date has been missed. The police only care if the car is insured and are not going to give a grace period for this.

Do you pay insurance on a leased car?

When you get a car on disability do they pay your insurance?

It is unclear what you are asking, but I will do my best. If you are asking whether you can buy a car with your disability payments (from a private insurer, Social Security Disability, or otherwise), yes. Keep in mind, however that that may leave you brief for other needs, but it is business decision for you to make. The payer of the disability benefits has no obligation to buy a car for you under ordinary circumstances. It would be the very odd situation that would require a disability payer to do so. Nonetheless, a private insurer may consider doing so as a means of facilitating your come back to work and thereby no longer qualifying for disability. In the long run, it may be cheaper for it to go “out of policy” and do this, than paying benefits for a very long time. The contract controls what you can collect under a private policy; statutes control what you can collect under public sources of disability, such as Social Security Disability.

What is gap insurance for a leased car?

GAP coverage is very necessary especially in a lease situation. GAP coverage comes into play if a vehicle is deemed totaled. What GAP does is to pay for the difference in the actual cash value that is payable under the normal policy and the balance owed to the lease company or finance company of a loan. In the early years of a lease or loan the vehicle value falls quicker that the value of the vehicle. If you total the vehicle within this period you can find yourself without a vehicle but with a sizable amount of money due on a vehicle you cannot drive any more. GAP coverage will pay this difference. The Finance Dept of the auto dealership will attempt to sell you on this GAP insurance. Very first, no matter what they say, it is not mandatory to but it from them. Private Auto insurance companies suggest GAP insurance that does the same thing for about 10% of the premium the dealership charges you for the same coverage. You will also have a right to cancel the coverage whenever you feel the value and loan balance have equaled out. One catch is that you must purchase the GAP coverage from you insurer withing 6 months of purchasing the vehicle. As a matter of utter disclosure, I own and operate a puny Independent Insurance Company in Central Georgia and have for the past 22 years. Prior to that I worked as an agent for a direct writer of insurance for Three years.

Why pay more on your car insurance when unemployed?

This has to do with vehicle usage. For most drivers, when employed we drive to the same familiar location regularly on our work days. Since we go there most every day, we know where all the school zones, stop lights and hazards are located along the way. When unemployed. the presumption is that we may be driving more often than we would normally and we may drive to many different fresh and unacquainted places on any given day because we are seeking a fresh job. This can increase the risk that an accident will occur.

How much they have to pay in car insurance?

Depends on value of the car, where it is located, driver’s age, practice, driving record, and in some cases, grades in school for a student. Too many variables to give a single reaction. It could be $50 or $500 a month.

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Do you pay car insurance when you are in the army?

If the car will be driven while one is in the army, liability insurance should be maintained on the possessor and on the person/people who will be driving it. This insurance is protection against claims by third parties based upon negligence by the driver. Many states hold the possessor vicariously liable for the negligence of the driver and apply a presumption that the possessor gave permission to the driver to use the vehicle. Additionally, physical harm coverage should be maintained on it (collision and comprehensive). These pay for the repair of the vehicle in the event of physical harm to it. If the car is garaged while the possessor is in the service, one can take a chance and not maintain physical harm coverage on it. However, keep in mind that if the car is financed, the lender may require that physical harm coverage be maintained until the loan is paid with the lender being named on the policyas a loss payee. The failure to do so may constitute a breach of the loan contract. If the lender learns that physical harm coverage has lapsed, it may purchase “single interest” physical harm coverage and charge the premium to the borrower by adding the premium to the loan balance. The premium for this type of insurance is usually significantly greater than were the insured to have kept physical harm coverage in place as required by the lender.

Can you lease a car under your parents name but have it insured on your own insurance in NYS?

No. The insurance must be in the name of the possessor or leasee of the vehicle. Be careful and do not lie on either the lease contract or the insurance application. Both of these are legal contracts.

How much do people pay for car insurance?

This kind of question is unlikely to response correctly. There are far too many variables that go into the calculations of rating an auto insurance policy. One company I deal with has 44 classes just to classify each driver. Other variables include vehicle, tickets, accidents, claims, prior insurance coverage, married or single, multi-car discount, claim-free discount, zip code territory, credit rating, miles to work, account credit, etc, etc, etc. There are far too many factors to consider to estimate insurance or give someone an average.

Do you have to pay for a car when in an accident who does not have insurance?

Pretty much yes, If your liable for the harm then you have to payfor those damages. If you’d have had your car insurance in place atthe time, it would have paid the bill for you tho’. Good luck..

Are you insured to drive your sons lease car?

That depends on his insurer and the policy he holds. He would need to contact his insurance company for a definitive response to this question.

Does insurance pay for your car if it burns you?

Kind of an odd question. If you get burned from something on your car, that isn’t caused by a mechanical fire , I doubt if your insurance company would pay you anything. Their liability is for accidents and damages done to other cars in traffic accidents. You need to provide more info for a better reaction.

Can you drive your friends leased car on your fully comp insurance?

ABSOLUTELY NOT. You cannot insure a vehicle that you do not own on your insurance policy no matter what kind of coverage you have. Your insurance policy will not pay anything even if you have added the vehicle on your policy without their skill.

Is insurance rate different inbetween a leased car or purchased car?

There is no difference in rates as to whether the vehicle is leased or purchased. There is an item to consult which will very likely affect your rates. When you lease a vehicle it is more like you are renting it from the finance company. Since they technically still own it in the contract it will state that you are required to carry higher liability boundaries, usually 100/300/50, as a minimum and that you cannot have a deductible higher than $500. This eliminates your choices of higher deductibles or lower liability boundaries both of which would be somewhat lower on your rates. Other options are still up to you. Always purchase GAP coverage when you lease a car as well for your own good.

Will insurance pay for a repossessed car?

Of course not! Itwasn’tstolen or wrecked, it was takenfrom you for failure to pay on the loan! Be sure to cancel the insurance.

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