Originally Posted by TM3
What's up FF peeps? Quick question for anyone in the 'know'.....
I know that when you have a lien on your vehicle, they require you to carry full coverage on the car. My question is this....how often does the lien holder check with the insurance company to see if the vehicle is still insured? Say if I went half a month without insurance on the car, how would they find out? Would they find out? Would my insurance company tell the lien holder once I dropped the car? I've kind of been curious about this for a while.
This is more of a hypothetical question. I am NOT planning on dropping the insurance on one of my cars while I still have it. I don't want anyone to think I'm trying to do anything
(illegal)....like driving around without insurance. I've got two other Foci, and I only drive one of them. The other two just sit and collect dust, aside from the occasional start-up to get the juices flowing, hence the reason for my curiosity.
The insurance company actually will send the bank a monthly status on your insurance and if the bank doesnt like what they see then they can have the option to get a third party insurance that will cover there ass. i just got done with this crap. I had to get my bank to get rid of the insurance that was added to the loan