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YellowSea11 t1_j1vtg6b wrote

Due respect, but my takeaway from this was 'my mom had let my insurance expire' and I was like .. whuuuuttt? The minute you get your license and are in possession of a car; only one person is responsible for insurance. Now to be fair, to make insurance cheaper you can usually opt-out of the theft insurance, which drastically reduces your monthly payment, but ... 'my mom let it expire'? Yikes. Sadly .. this is a painful painful lesson and I'd do everything I could to learn everything I could from it.

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[deleted] OP t1_j1wrvuf wrote

Sorry I just turned 18 and haven’t had a chance to switch it to my name yet. I had been told it expired at the end of December so I was planning to get my own policy then

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smhwbr80 t1_j1xnqda wrote

To clarify - - you were able to finance a car on your own before you turned 18?

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kveggie1 t1_j1vx4e1 wrote

"your" mom let "your" insurance expire.... Expensive lession.

Yes, you are stuck with two car payments.

No good news here at all, sorry.

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wanttostayhidden t1_j1vvalh wrote

If you are lucky, you will get to continue making two car payments. If the lender on the first car finds out the collateral is gone, they will probably call your loan due immediately.

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Terrible_Ad3534 t1_j1wc75q wrote

Insurance companies notify lenders when your coverage expires and usually the lender will apply mandatory insurance until you get your own. I don’t know how long it takes to happen though. If you were less than 30 days late on December’s insurance payment, can you call and pay? If you were consistently covered prior to that date, they may allow it despite the current loss?

I’d call the insurance company and ask. It doesn’t hurt.

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felinelawspecialist t1_j1wct56 wrote

Yes, hopefully there is a “cure” period within which OP can pay the past-due premiums

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trickishsauce t1_j1xxsgq wrote

Yes there is. Most policies provide this. Try to pay over the phone ASAP. OP or the mom dude should have received a notice of cancellation if it really canceled.

Least that’s what HOA insurance providers give. Volunteers are not always the best at approving bills…

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shadow_chance t1_j1w3liu wrote

You'll need to pay for the stolen car and if the bank finds out it's been stolen the loan balance is likely due immediately.

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lost_in_life_34 t1_j1vsk54 wrote

make two car payments until you pay them off or suffer the credit consequences

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