Do I have to keep a stolen vehicle insured?

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Do I have to keep a stolen vehicle insured?

I reside in the state of Texas and 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?

Asked on January 7, 2019 under Insurance Law, Texas

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 2 years ago | Contributor

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.


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