Can Your Car Be Repossessed For No Insurance?

  1. 16470 POINTS
    David Osgood
    Agent, Rural Mutual Insurance Co., Union Grove, WI
    When you purchased your vehicle and secured your loan. The contract you signed more than likely had a clause about the amount of insurance that you must carry on the vehicle while the loan is outstanding and the repercussions if that auto insurance coverage level was not maintained. So, depending on the language in the contract and your states laws; I would not say that is beyond the realm of possibilities.
    Answered on October 29, 2013
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