Mitsubeasty_Evo

So I have had my 2015 MR since April and recently got a notice in the mail saying that they have not received an insurance policy for the required vehicle. I added the car to my policy when I got it but what this form says is that it requires
at least $100k bodily injury and $50,000 property damage with a maximum of $1,000 deductible.

I am good on everything except the 100k liability. Do I need to get more expensive coverage on the car or can I just ignore this? What happens if I ignore it? Will they have somebody come by and tow the car from my house?

I have no problems paying extra for insurance but if I legally do not have to do it then I'd rather not.

steve0677

iTrader: (6)

Check your lease, specifically what minimum insurance requirement you signed up for. Id take it pretty seriously, the original leasing doc that is.

Mitsubeasty_Evo

I found the information on the back of my original lease documents.

Insurance. You agree to maintain in your name the following types and amounts of primary insurance for the Lease term and until you return the Vehicle: Bodily injury insurance with $100,000/$300,000 limits; property damage insurance with $50,000 limits; collision, fire theft and comprehensive coverage with a maximum deductible of $500. You may obtain insurance from anyone reasonably acceptable by us. We must be shown as additional insured and loss payee. We may endorse your name on any check we receive in payment of a claim. Your policy must state that we will be given at least 10 days' notice of any cancellation reduction or other material coverage change. If your insurer does not pay a claim for any reason, it will mean that you have not maintained the required insurance. You will pay for any loss that may result because you do not maintain required insurance or because the insurer does not pay a claim.

^^ So if I understand correctly it tells me that I agree to maintain the required insurance but if I decide to not actually purchase the required insurance and **** hits the fan then Mitsubishi can put it all on me? I am ok with this.

steve0677

iTrader: (6)

basically you are liable for any gap between what was required to be insured versus what was insured in the event of a claim.

couple other sections i would check - termination & breach of contact, this may further elaborate on what could happen.

Evodetailer123

iTrader: (2)

I had the same issue with mine. This issue went for 7 months till I actually straightened things out. You need to have it. They could technically do a repo on it.