2007-02-13 07:45:15 · 4 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
If you borrowed money and still owe money to a bank, then the bank requires insurance to protect their investment in the car. If you paid cash for the car and have a clear title, then you have a choice in the matter. If you are NOT driving the car, and it is in a garage, then turn in the plates to your DMV, get a receipt and cancel the insurance. The car needs to be put in a garage. If the car is seen without plates on your property, you can get a ticket, get it towed or impounded. It is not legal to have a car on the road without the bear minimum of insurance. Unfortunately people do it...and the rest of us pay higher insurance rates!
2007-02-13 08:04:46 · answer #1 · answered by just me 6 · 0⤊ 0⤋
Yes, if a car is "on the road" it means that it has the potential to be driven. It needs to be insured technically, just in case anyone feels the need to drive it.
2007-02-13 07:52:54 · answer #2 · answered by blue_girl 5 · 0⤊ 0⤋
If the car is FINANCED through a bank, yes it does need insurance or they'll put insurance on it for you, and add it to the financed amount on your loan.
If the car is yours, and you have the title (paid off).. no you don't need insurance. However, if you DRIVE it out of your driveway you are going to be breaking the law. It would have to be garaged, or stay at your house until insured.
2007-02-13 07:56:05 · answer #3 · answered by rob1963man 5 · 0⤊ 0⤋
legally yes, although many peoplr do not
2007-02-13 07:54:18 · answer #4 · answered by firefightingman 1 · 0⤊ 0⤋