Can I switch to liability insurance while in bankruptcy?
I’m currently going through bankruptcy and am surrendering my car. Right now, I have full coverage, but since I’m not driving it at all until it’s picked up, I’m wondering if I can switch to liability insurance. It would really help me save some money. Thanks for your help!
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Yes, you can typically adjust your insurance coverage during bankruptcy. If you are no longer using your car and it is being surrendered, you may contact your insurance provider to change your policy from full coverage to liability only. This could help lower your premiums while you are waiting for the vehicle to be picked up. However, it’s essential to check with your bankruptcy attorney to ensure that this change won’t affect your bankruptcy proceedings, and to verify any specific requirements or recommendations based on your situation. Additionally, keep in mind that if you plan to keep the vehicle until it’s picked up, you’ll want to maintain the required insurance to protect yourself against any potential liabilities.