Q: Is it the responsibility of the driver, insurance company or lien holder verifying proper insurance of a financed car
I was recently involved in a car accident and was found at fault. I was shocked to find out I was not covered for collision when I called progressive to file a claim. I did purchase the policy online and know I chose full coverage. I was under the impression full coverage meant I was covered for everything easpicially since I was paying $270 per month. I reviewed my policy a few times and sure enough I did not have collisions coverage. I did notice that on the policy page it lists Honda financial services as the Lein holder of my car. So progressive has documentation that there is a lien on the car. After trying to purchase a new car I was told that the bank requires collision and if i didn't have it they would charge me their price for collision I know the law requires collision if there is a lien on the car. Am I at fault For this error or should shiuld progressive or the bank caught it and contacted me. I owe $13,000 and getting nothing from my insurance company or gap insurance
A: Ultimately it is your responsibility to obtain collision coverage.
A:
Something missing. If you have gap that presumes there is underlying collision. The big problem with leases is that the consumer protections in terms of what dealers are required to explain--like what happens in a wreck--are minimal. Given that amount of money, worth paying to get a consult from a consumer attorney. Big problem is that under most states laws you are supposed to know what is on your policy--and what isn't. Most people don't--they get it, maybe check to see if the right car is on it, done!
Look back at your screens to see what you asked for.
Talk to an agent next time.
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