What if you have a car loan and have an accident and bank or insurance didn't make sure you had full coverage?

When a person finances a car, proof of insurance is required, a buyer has about

24 hours to let his insurance company know about his car. In the event that

car buyer stops making insurance payments the finance company is almost

immediately notified and your car finance agreement charges the buyer

a higher monthly payment for "single interest" insurance. That is where the

finance company is reimbursed if vehicle is damaged, to protect their interests

but not the buyer's. They can then at least get it fixed, and sell to someone

hopefully more responsible. They have this stuff all figured out.