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

Jurckie Backhart

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.

149 views • 0 upvotes • 6 comments

COMMENT (6)

br

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

Ry

Posted at
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

Mo

Posted at
Nope, the bank requires full insurance at all times.

As

Posted at
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

☀️

Posted at
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.

Lu

Posted at
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.
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