Most
lienholders require physical damage coverage if you are financing or leasing your vehicle.
nsurance —
Your lienholder requires you to have property insurance.
Not exact matches
This measure was too complicated and
required delicate negotiations among the existing
lienholders, the new H4H lender, and the borrower.
As the
lienholder of your consumer loan, Evansville Teachers Federal Credit Union
requires proof of insurance on your vehicle.
requires the proposed
lienholder to provide at least 30 written days notice to Rural Development,
Collision coverage is optional in all states but may be
required if you have a
lienholder.
Unfortunately, the law does not always say that
lienholders are
required to respond to requests for a lien amount within a specific time, and it sometimes takes months to get an appropriate answer.
Usually, the
lienholder on a new vehicle — the bank that issued the car loan — is going to
require a maximum deductible of $ 500 on comprehensive and collision coverage (that's the part of your insurance that protects your car).
The exception is typically if you have a loan or a lease, as your
lienholder may
require you to hold these coverages.
If you fail to make your
required payments, a
lienholder has the legal right to take possession of your property.