Can a bank repo a car for not having insurance?

If your car loan is financed through a bank, the bank can repo the car for not having insurance. The terms of your loan require you to maintain a level of insurance coverage, and the bank can repossess your vehicle in certain situations.

UPDATED: Mar 24, 2024Fact Checked

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Can a bank repo a car for not having insurance?

[su_box title="Things to know..." style="default"] A loan contract could allow a lender to repossess a car if the borrower loses auto insurance coverage Lenders commonly require auto liability, comprehensive, and collision coverage Lenders could purchase forced-place insurance, which the borrower/driver likely won’t appreciate Comparison shopping for a great policy might reduce the...

Tracey L. Wells

Licensed Insurance Agent & Agency Owner

Tracey L. Wells is a licensed insurance agent and Farmers insurance agency owner with 23 years of experience. He is proud to be a local Farmers agent serving Grayson, Georgia and surrounding areas. With experience as both an underwriter and agent, he provides his customers with insight that others agents may not have. His agency offers all lines of insurance including home, life, auto, RV, busi...

Licensed Insurance Agent & Agency Owner

UPDATED: Mar 24, 2024

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UPDATED: Mar 24, 2024

Advertiser Disclosure

It’s all about you. We want to help you make the right cheap car insurance coverage choices.

Advertiser Disclosure: We strive to help you make confident car insurance decisions. Comparison shopping should be easy. We are not affiliated with any one car insurance company and cannot guarantee quotes from any single company.

Our insurance industry partnerships don’t influence our content. Our opinions are our own. To compare cheap car insurance quotes from many different companies please enter your ZIP code on this page to use the free quote tool. The more quotes you compare, the more chances to save.

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