Comprehensive Car Insurance Burke, Virginia VA
Reader’s Question:
Is it legal if I do not tell my insurance provider in Burke, Virginia that I have a lien on my vehicle?
Patty
Burke, VA
I am not aware of any laws in Burke, Virginia that require you to list a lien holder on your insurance policy. Typically this is a requirement signed between the borrower and the lien holder. It is not the insurance carrier’s responsibility to to determine if there is a lien on the vehicle, but rather the lien holder’s responsibility to check their property, the vehicle, is insured.
Most lien holder’s would require you to buy physical damage coverage of comprehensive and collision. The insurance carrier will list your lien holder on your auto insurance policy if you give them the information and your insurance provider will send a declarations page to them.
If you do not comply with their requirement to buy physical damage of comprehensive and collision your lien holder may have consequences or penalties which could include taking your vehicle back. You should verify with your lien holder to find out their specific requirements that you need on your vehicle.
Tags: auto insurance, collision insurance coverage, comprehensive insurance coverage