what if i didnt want to pay for my insurance except liability what could they do seize the car? i want to take a loan for this car but i wnat to know who ckecks up on insurance you only give them a binder once.
How well do credit unions check your insurance binders after your policy renews?
very often
How well do credit unions check your insurance binders after your policy renews?
by .coms
How well do credit unions check your insurance binders after your policy renews?
Upon cancellation of a policy, it is the insurance company that notifies the lender. I have seen people fall through the cracks and got away with it. I also have seen people with a financial liability and nothing to show for it, once the vehicle was totaled. Those people in most case could not get another loan because of the lack of insurance and/or debt to income. I strongly advise that you reconsider the position you have taken. Remember upon signing the loan, you agreed to the terms and conditions of that loan. If you are not willing to honor this agreement and you have the vehicle reposed, why would any lender want to do buss. with you. Good Luck
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