Car Insurance?
October 1st, 2009 | by admin |thephnx39 asked:
Im financing a car through Wells Fargo Bank, do I have to have full coverage or state minimum car insurance coverage?
BRITTENY
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One Response to “Car Insurance?”
By CoUrTnEy on Oct 3, 2009 | Reply
When you are financing a vehicle, they require that you carry ‘collision’ coverage, which some like to refer to as ‘full coverage’. Collision covers the property damage to your vehicle in the event that you have an at-fault accident.
You can carry the minimum liability on any policy (though I wouldn’t). Most finance companies won’t let you have a deductible any higher than $500, though some will allow $1000. The lower the deductible, the more premium you’ll pay.