My car is broke down, can I cancel the insurance?

Question

I have a Kia Forte that I bought financed two years ago. I still owe like 9,000 or something on it but the turbo is shot and we can’t afford to fix it right now so it’s just sitting in my yard because it’s not drive able. Anyway I was wondering if I can cancel the insurance on it since it’s inoperable and will be for a long time.

Answer

If you're still paying for it, your lender probably requires insurance so I don't think you can cancel

Answer

You can’t cancel insurance on a car that has a loan in it. Also you don’t want to because if anything happens that’ll be all out of pocket no matter what

Answer

Nope, the bank requires full insurance at all times.

Answer

If you are still making payments, check your policy. I would honestly try to sell it even if for parts since it doesn’t work

Answer

Call your company to see if they can switch it to a different premium while it’s inoperable. We have no idea where you live or what insurance you have to know what your options are.

Answer

Rather phone the insurance and ask them if you can lower your premiums until you fix it. I'd be worried about people coming to steal or strip it if it's going to sit there for an extended time.

My car is broke down, can I cancel the insurance?

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