Auto Insurance Company Galveston, Texas TX
Filed under: Cheap TX insurance, TX car insurance, Texas SR22
Reader’s Question:
I purchased new car and I put a collision coverager on it. I am financing part of the car’s purchase price through a finance company. My question is why does the finance company get paid the full amount of the value of the vehicle if the automobile gets into a collision? I mean if they get the full amount of the vehicle, I will get nothing meaning whatever I paid for the vehicle will be lost and Ill be empty handed? I live in Galveston, TX.
John
Galveston, TX
Your finance company holds the title to your car until your loan is paid or satisfied. If your car is totaled, the check will most likely be issued both on your names. Whatever amount is left after your loan is paid would go to you. Your insurance carrier in Galveston, TX will determine the value of your car at the time of a loss and pay that amount to the finance company and to you. Most of the time, as soon as you leave the dealership the value of your car depreciates. So you may be upside down as soon as you leave the dealership lot if you were to get into an crash. You can buy GAP insurance in order to protect yourself from that type of loss. This will cover the difference of what you paid for the car and what the actually value is.
Tags: auto insurance
Teen Auto Insurance El Paso, Texas TX
Filed under: TX car insurance, Texas SR22, Texas teen insurance
Reader’s Question:
I am 19 years old and my father is letting me have his vehicle. He is financing it through a bank and makes the monthly payments. Is it possible to buy my own auto insurance on the car even though the vehicle is in his name? We live in El Paso, Texas.
Michelle
El Paso, TX
It can be hard to find auto insurance for a vehicle that you do not own and therefore do not have your name on the title. Most insurance providers typically will want you to have insurable interest in the automobile in order to get car insurance on it. Having insurable interest means being an car owner, lien holder or co-signer.
If you do not have insurable interest in the vehicle, you may still be able to get auto insurance on the car in El Paso from other insurance providers. In some cases some insurance companies will permit you to buy an auto insurance policy even if you do not own the car.
Tags: auto insurance, teen insurance
Auto Insurance Northwest Harris, Texas TX
Filed under: Cheap TX insurance, TX car insurance, Texas SR22
Reader’s Question:
My mother passed away and I would like to know how long do I have to change the car insurance under my name in Northwest Harris, Texas.
Ben
Northwest Harris, TX
Sorry for the loss of your mother. Since terms of auto insurance policies vary you will need to check from your mother’s insurance company in Northwest Harris, Texas how long you have to change over the car insurance policy and what steps to take to have the auto insurance policy for at least your car under your name.
Normally a car insurance policy cancels upon the death of the policyholder, usually by the request of the estate.
It is important in your case to read over the insurance policy issued to your mother. If you need more informations, you may contact your mother’s insurance agent or company for verifications and information on what the process is now that your mother has passed away.
Tags: auto insurance
Auto Insurance Claim Harlingen Texas TX
Reader’s Question:
I am married and I would like to know if its required to have my husbands name on the policy. We have two vehicles and only my name is on the car insurance on both vehicles. If an accident happens, does it go against my driving record only? We live in Harlingen Texas.
Meyer
Harlingen, TX
If you are married normally you would want both spouses’ names to be on the auto insurance policy. It may be up to the car insurance company’s procedures but if both you and your husband will be driving the cars then both of you will most likely need to be on the insurance policy. If your name is listed as the policyholder on both insurance policies then your husband would need to be listed as a driver for the vehicles.
If your were to buy an auto insurance policy in the future and you are excluded, then your accident most likely will not affect him. But, with a comprehensive claim some insurance company may consider it as an insurance claim for the household – even if you are not listed on the insurance policy as a driver. You may consult your insurance carrier on how they will handle this type of situation.
Tags: auto insurance claims