Is it a law in Massachusetts to have collision on an auto policy when the car is financed?

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Is it a law in Massachusetts to have collision on an auto policy when the car is financed?

Is it a law in Massachusetts to have collision on an auto policy when the car is
financed?

Asked on February 29, 2016 under Accident Law, Massachusetts

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 5 years ago | Contributor

The law doesn't require it, but the person or entity (e.g. the bank or dealership) providing the financing can make it a condition or requirement in order to get financing: after all, there is no law saying you are entitled to financing, and the person or business providing the financing is free to put conditions on getting their money, like maintaining collission coverage.


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