What is the name of your state? CA
Here's the breakdown. I own an automotive shop. My car that was in the process of being worked on was stolen. I had taken off collission off my insurance because it was not drivable for awhile. Come to find out when I called in to take off the collision, they also automatically took off the comprehensive damages. So my car was not insured against THEFT. Of course I had no idea it wasn't covered. There response was that they send me a declaration of the change, even though they may have made a mistake. I looked it over but had no idea that theft was under comprehensive, and trusted my agent to do what I had asked. Either way, the car is not insured. I have a loan on this car for 15,000 stilll. I will not get this car back because it's somewhere being stripped to pieces, since I had an extreme amount of money put into the parts. Either way my insurance, which is AAA, told us they had no idea we had a lien holder, and that if they had known they would not be able to take off collision or comprehensive. So come to find out our lien holder never reported to AAA to check if we had insurance, or they never let them know they were our lien holder. Is this legal? Do lien holders have any liability to make sure we have insurance, or to report to the insurance that they are the lien holder? We are pretty much out of luck, and I really need help...please if anyone has any insight, I would appreciate it sooo much.
THanks,
Lydia
Here's the breakdown. I own an automotive shop. My car that was in the process of being worked on was stolen. I had taken off collission off my insurance because it was not drivable for awhile. Come to find out when I called in to take off the collision, they also automatically took off the comprehensive damages. So my car was not insured against THEFT. Of course I had no idea it wasn't covered. There response was that they send me a declaration of the change, even though they may have made a mistake. I looked it over but had no idea that theft was under comprehensive, and trusted my agent to do what I had asked. Either way, the car is not insured. I have a loan on this car for 15,000 stilll. I will not get this car back because it's somewhere being stripped to pieces, since I had an extreme amount of money put into the parts. Either way my insurance, which is AAA, told us they had no idea we had a lien holder, and that if they had known they would not be able to take off collision or comprehensive. So come to find out our lien holder never reported to AAA to check if we had insurance, or they never let them know they were our lien holder. Is this legal? Do lien holders have any liability to make sure we have insurance, or to report to the insurance that they are the lien holder? We are pretty much out of luck, and I really need help...please if anyone has any insight, I would appreciate it sooo much.
THanks,
Lydia