Okay..so I live in Georgia and my husband has full coverage insurance, we are currently buying a truck from a buy here, pay here car company, so we are making payements on it. My question is, is we are kind of having a bad week money wise, and we will have to go without paying insurance(which gets canceled tommorow if we don't pay it) Usually when this happens we just reinstate it a few days later, but if we dont pay it we will have to wait until next Friday to pay it..So what could the car company do if they get word back that the policy has been cancelled? We have one of those things in there where they can turn the vehicle off when they want(like if you miss a payment) So can they just turn the truck off because we let our insurance cancel? Or does it usually take a few days for the insurance company to report that its been cancelled? Sorry so long. Thanks.
2006-12-29 11:11:59 · 8 answers · asked by skg20051 2 in Cars & Transportation ➔ Insurance & Registration
I'm not sure what ramifications you may face with the car company (they may force-place coverage for you and then charge you). BUT if you get pulled over while driving without insurance you could lose your license.
WORSE, you could cause an accident and be liable for all of the damages. You could ruin the rest of your financial life if you cause a serious accident without insurance.
2006-12-29 11:15:14 · answer #1 · answered by Emily B 4 · 0⤊ 0⤋
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2016-09-25 01:47:37 · answer #2 · answered by ? 3 · 0⤊ 0⤋
If Georgia reports lapsed insurance to the state and the state has a data base of such things (many states do have that now) it's possible your license to drive may be suspended.
If the contract with the buy here pay here lot says you must have insurance on the vehicle, and you don't, they can do whatever they say they can do in the paperwork, including make it inoperable or repossess it and keep what you have paid to date.
If you're going to be late on anything, I'd suggest you call the buy here pay here lot and see if you can let them slide a few days rather than take a chance on a no insurance ticket.
2006-12-29 12:00:59 · answer #3 · answered by oklatom 7 · 0⤊ 0⤋
Im assuming that they require you to have insurance. A lot of buy here pay here companys dont require your to have insurance because its not being financed from a bank. If they do on the other hand tell your agent that your buying a new veh, and need a grace period to cover the premium for the veh. They should be ale to help you out with that...
2006-12-29 14:50:16 · answer #4 · answered by D.L. 4 · 0⤊ 0⤋
considering drivers' licenses are state-issued, it truly is a state count number, besides the actual incontrovertible truth that the federal authorities can impact the states by threatening to withhold Federal street money (the way they did to get each state to strengthen the ingesting age to 21). in short, there's a philosophical massive difference right here. utilizing is a priviledge granted by the State or perhaps as utilizing, one has a duty not really to himself, yet to others on the line. Making vehicle insurance mandatory might want to be considered as a fee of taking area in this priviledge, area of a electorate responsibilities for th accepted protection of others. well being care is a own challenge. Requiring someone to purchase a product for his own own use looks to many like requiring all electorate to purchase vehicle insurance....even if or not they force or not. Somewill argue that the requirement will carry down the costs linked with the uninsured getting care in emergency rooms etc, inspite of the indisputable fact that a similar might want to be suggested for mandatory vehicle insurance. imagine how rates might want to bypass down if all non-drivers were compelled to purchase guidelines besides. So lower back, there's a philosophical challenge previous the "will it carry down expenses" question.
2016-12-01 07:46:44 · answer #5 · answered by haltom 4 · 0⤊ 0⤋
I would say be late on the car payment instead of the insurance. Most loan holders will forgive one late payment, or accept a late payment and waive the late fee if it is the first time. Have you already talked to your insurance? They may be willing to take a post-dated check.
2006-12-29 11:20:57 · answer #6 · answered by ? 3 · 0⤊ 0⤋
Its usually you will receive a notice in the mail with a date and time your auto insurance will be affective cancellation.
2006-12-29 11:23:20 · answer #7 · answered by Good Grief 4 · 0⤊ 0⤋
Having your vehicle disabled is the least of your troubles. What happens if you rear end someone and they are injured? You need help on several different fronts, mainly money. Check out this site -- he can really help.
www.daveramsey.com
2006-12-29 14:51:55 · answer #8 · answered by Anonymous · 0⤊ 0⤋