Do I have to keep a stolen vehicle insured?
Question Details: My vehicle was stolen over a week ago. I had a police report made the day I noticed it was stolen and the DMV has marked my vehicle stolen. I only have liability coverage insurance to meet the state's vehicle insurance law. Do I need to continue to insure that vehicle or will I not have to deal with any legal issues if I remove that vehicle from my insurance?
Keep it insured for now. As long as title is in your name, if anyone is injured by the car, the injured party may sue you (since owners generally are liable for what happens with their vehicles). Even though you should not be be liable for what someone who stole does with it, you don't want to have a large lawsuit come your way if you are uninsured. Also, the law requires you to keep the vehicle insured so long as it is titled to you, so you could face fines or license suspension for not maintaining insurance. Contact the DMV about not the insurance per se, but about how and when you can remove a stolen car from your titlel; once you do that properly, you can drop the insurancxe.