What type of car insurance am I required to have for a financed car in California?
I'm trying to figure out what car insurance I'm supposed to have for a financed car. Is there a minimum that's required in California? WIll car insurance companies know what the requirements are?
Answer provided by
Answered on May 17, 2021
“Apart from California’s minimum coverage car insurance that’s required for any car on the road, car insurance companies won’t know what coverage you’re required to have.
Most lenders require that the financed vehicle carry both collision car insurance and comprehensive insurance. Occasionally, they will require specific liability car insurance coverage limits as well.
When you sign your finance agreement, your lender should provide you with the specifics of the coverage required. If they don’t, ask them directly about coverage you’re required to have. “
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