Legal Question in Credit and Debt Law in Illinois
cosigner /insurance
hi yes i know i have to pay the loan if he doesnt pay but what about insurance? how iam i to know if he drop his ins? he got in to a acc with out ins so the stat of il comming after me ???help
Asked on 1/24/08, 10:07 am
1 Answer from Attorneys
Thomas Moens
Moens Law Offices, Chartered
Re: cosigner /insurance
You should have been on the insurance policy at least as an additional insured--not only because it is the law, but because it is a very good idea as you are now learning. The insurance company would then have let you know when the coverage lapsed.
Answered on 2/01/08, 8:15 am
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