Legal Question in Insurance Law in Texas

My vehicle is currently inoperable and I am still making payments on it. The cost of repairs to the vehicle are higher than the vehicle is worth. My bank has placed forced insurance on the loan because I let the policy lapse. Am I still required to purchase the full coverage insurance that my bank is charging me for?


Asked on 1/04/10, 7:09 pm

1 Answer from Attorneys
Heather Kubiak The Kubiak Law Firm PLLC

I would check with the bank to explain the situation and to determine what, if anything, you can do about it. The bank wants to make sure that there is coverage in case the car gets stolen, etc. But, perhaps there is some lesser coverage that the bank would be willing to live with given your situation.

Good luck.

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Answered on 1/10/10, 5:48 am


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