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Can a vehicle be reposessed for no insurance coverage?

In the majority of states, yes, a vehicle can be repossessed because of a lapse in insurance coverage. When people borrow money from a bank or other lender to purchase a vehicle, they typically sign a loan agreement that includes various conditions and obligations, including maintaining insurance. If one fails to adhere to these conditions, including allowing their insurance to expire or lapse, the lender has the right to repossess the vehicle as specified in the loan agreement.
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