Legal Question in Insurance Law in Illinois

Can a financial credit union charge me for car insurance without my concent? Also they charge me $4k for a year of insurance when normal policy cost is around 600. is this legal?


Asked on 7/10/12, 2:01 pm

1 Answer from Attorneys
Thomas Moens Moens Law Offices, Chartered

I would imagine you are referring to what is called force-placed insurance. Apparently your credit union is under the impression you do not have car insurance. When you got your loan from the credit union, you more than likely agreed to keep the car insured, and if you failed to do so, the credit union was allowed to purchase force-placed insurance to protect its interest. As you have learned, it is expensive. If you do have car insurance, provide proof to the credit union, and they should work with you to get this resolved.

Read more
Answered on 7/11/12, 11:51 am


Related Questions & Answers

More Insurance Law questions and answers in Illinois