I would like to know if my cosigner can be sued if there is an accident that exceeds my insurance or is not covered?

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I would like to know if my cosigner can be sued if there is an accident that exceeds my insurance or is not covered?

Since I have little to go after, I was wondering if my cosigner’s money was at risk?

Asked on July 1, 2013 under Accident Law, Indiana

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If the co-signer only guaranteed the financing, then he or she cannot be sued for an accident (unless he or she happened to be driving): if he or she is not an owner of the vehicle, he or she is not liable for accidents. However, if the co-signer is a part owner--that is, he or she is on the title, too--then yes, he or she could be sued if there is an accident; any owner of a vehicle is potentially at risk for accidets.


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