Q: What insurance coverage would my lender require when I have a car loan?

When a bank loans you money to buy a car, it is in their best interest to make sure the car is insured at all times, whether it's being driven or not. Even a car stored in a garage is subject to loss from things like fire, theft and acts of nature. Therefore, a bank must protect its interest as long as the lien exists on the vehicle. Your lender will require collision and comprehensive insurance on the vehicle.

Get a free Mountain America Insurance quote online or call 1-877-276-7882.