hi, it is true that being a driver you would need to maintain a minimum legitimate liability insurance towards safeguarding other people & their properties. On the other hand a collision insurance is what protects a property that belongs to you. If your car has that lien, then it surely indicates that it has been shown as a security towards a loan. This doesn't signify that this car has to have insurance in excess. Wish this come to your help _________________ Register Now to have your Insurance queries solved.
It is natural for any lender to seek insurance on your part that would be enough to cover a loss in terms of the property that you pledged. Why is this? Simply becoz once you wreck that car, then it is normal for him to defy the ownership or to possess the owed amount against the damaged car.
Thanks,
Plasmahectic _________________ Register Now to have your Insurance queries solved.
