Do I have to pay for damages if I got in an accident in a financed car but only have liability insurance?

I got a call from my insurance asking why I didn't renew the policy on my financed car. I went to their competitor and bought a cheap policy, but it was liability only. Two days later, I got in an at-fault accident. Am I liable for the damage to my vehicle?

May 04, 2021
Answer provided by
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Eric Schad
Answered at May 04, 2021
“You made a mistake that you’ll probably only make once in your life.
It’s not the car insurance company’s duty to know what type of car insurance you need. Since you only have liability coverage, it will only cover damage to the other person’s car.
Since you don’t have collision coverage, you’re responsible for fixing your own vehicle, plus the fallout you may have with your lender.
Next time, be more vigilant to make sure you don’t put yourself in dire financial straits.”
Car Insurance
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