Quote:
Originally Posted by kakacarrotcake
Lienholders usually do require comprehensive and collision, but adding it to you insurance policy is not required. Although most lienholders have a system of checks and balances in place to avoid this, it still happens quite a bit.
It's not uncommon for people to forego the coverage because of the insurance premium associated with it, not realizing the consequences. Especially in Michigan and Florida where most insurance premiums are higher than other states.
Best thing the OP can do is get it fixed, then add comprehensive and collision coverage.
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The dealer made an ass out of me, this is my first car in a new country. I came to the US as a student from India, got a job and starting earning a good salary so I bought this car. The dealer told me that 'GAP' insurance will cover everything if I total the car and I only need basic insurance. I have my insurance records from the state of Indiana (Where I bought it) and then moved to Illinois (Peoria) for work and recently to Michigan (Detroit) for a new job at Ford. I bought the premium service plan with the car as well to save it from future scratches and dents. If I had done my homework about GAP and usual comprehensive/collision insurance then I would not be in this spot right now. Lets just say I was like a toddler in a toyshop when I was at the dealership getting this car.