Do i need full coverage?
Find answers to your legal question.
Do i need full coverage?
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I am planning to buy a vehicle from the dealership with dealer credit. The terms are 392 dollars a month for 60 months. My question is: For the 60 months it is under dealer credit, do i need to have full coverage on the vehicle? I live in the state of maryland, where the minimum insurance is liability.
Regards,
Howard
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CharChar
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You would need to talk to your lender, but as a general rule of thumb lenders and lienholders always require full coverage on financed vehicles. This is because the lender needs to protect their interest in the car, so that if an accident occurs, the car will either be repaired, or (in the event of a total loss) paid for in full by your insurance company.
You can get a quote for insurance at 1-800-342-9070 (code 139406).
Best wishes and congrats on the new car! |
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im lovin' the 2009
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I think you should obtain the full coverage just in case any thing should go wrong such as an accident or so.
You know, those things comes in handy such as: full coverage, uninsured motorists, med-pay benefits, road side assistance, and ones that issue rental cars and stuff.
Most car lots, before you leave off the lot will want you to have full coverage especially if you are not paying cash money for the car.....
good luck |
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Uncle Jed
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As long as its financed the finance company requires full coverage until paid for..............md |
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