When you finance a car, the lender requires you to have auto insurance. This protects the lender’s investment in case the car is damaged or destroyed.
Auto insurance for financed cars provides coverage for the following:
financed
Unlock the Secrets of Car Insurance for Financed Vehicles: A Comprehensive Guide
When you finance a car, the lender requires you to have car insurance. This is because if you are in an accident and your car is damaged or destroyed, the insurance company will pay to repair or replace it. This protects the lender’s investment in the car.
Car insurance for financed cars is typically more expensive than insurance for cars that are not financed. This is because the lender considers you to be a higher risk since you have not yet paid off the car. However, there are a number of things you can do to reduce the cost of your insurance, such as shopping around for the best rates, maintaining a good driving record, and taking a defensive driving course.
