Auto Insurance

[crappa]

What is the name of your state? Pennsylvnia.

I currently have 2 cars both with loans on them. My one car i want to stop driving and drop the insurance on and just leave at my home for the next year or so. What consequences do i have with the bank since i make the payments every month but wont have the car insured since i wont be driving it?

 

[racer72]

Depends on your contract. At a minimum, the creditor will purchase loan insurance with you paying the premiums, this will add $50 to $100 a month to your payment. Worst case scenario is the car will be repossessed. There are low cost options for insuring vehicles that are not driven, call your insurance agent.

 

[VeronicaLodge]

what happens when your garage collapses on your car or another car drives into your garage crashing into your car or a tornado comes and whisks your garage and car away?