Why Keeping Insurance on your Vehicle is Necessary for a Loan

Keeping insurance on your vehicle is necessary for a loan using your car title as collateral

When you receive an auto equity loan sometimes called a car title loan, having current insurance on the vehicle is a mandatory requirement. Driving on the road requires that you have insurance on your vehicle to protect you as well as other drivers on the road. When you receive a loan from Embassy Loans, valid insurance covering comprehensive and collision is required to be prepaid for a minimum of 6 months.

If you do not have insurance coverage and need an auto title loan, Embassy Loans offers an alternative.  You may purchase an optional collision wavier debt cancellation addendum, which is available only as a voluntary option. If you decide to choose this waiver, it will be included in your monthly payment.

Embassy Loans offer flexible loan terms.  If you are in Florida, need cash in a rapid way, and do not have the time or cash to secure an insurance policy for your car or truck, then Embassy Loans  can design a flexible loan term including the optional collision wavier debt cancellation addendum.

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