Is the insurance company supposed to advise theholder of my auto loanifI no longer have insurance on my car?
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Is the insurance company supposed to advise theholder of my auto loanifI no longer have insurance on my car?
I had insurance up until May. The bank told me that the insurance company should have notified the bank that I did not have insurance on my car. The bank stated that if they would have been notified by the insurance company that they would have put an insurance on my car and I would have been covered through there insurance.
Asked on September 3, 2010 under Accident Law, Indiana
Answers:
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
It all depends on your state law but generally - and for obvious reasons - your insurance company is supposed to notify the lien holder of a cancellation or termination of the insurance policy that cover the auto. Not only the lien holder but possibly also the DMV as many states require proof of insurance to register a vehicle. In fact, it is often a written provision in your insurance policy that the insurance company will in fact notify the appropriate parties should the vehicle become uninsured. But you may not have been "covered through their insurance" just like that. What I mean is, you would probably been charged back an enormous amount for the coverage. But I would indeed look in to the situation. Good luck.
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