Will anyone take responsibility if a mortgaged car is stolen?
1 Answers
Buying a mortgaged car that gets stolen does have recourse. Here are the relevant details: 1. You can file a claim with the insurance company: After the car is stolen, the owner can claim compensation from the insurer. If the insurance contract states: 'The insurer shall not be liable for compensation if the vehicle is stolen due to use by a driver not permitted by the insured,' but the insurer failed to provide any clear notice about this clause, then the insurer's reasoning is invalid and they must compensate. 2. When the agreed insured incident occurs, the insurance company should bear corresponding responsibilities: As the registered owner of the insured vehicle, after purchasing auto theft insurance and paying the premium, you legally enjoy the insurance benefits of the vehicle and have the right to claim corresponding contractual rights from the insurer. 3. The insurance contract must have clear explanations: According to Article 17, Paragraph 2 of China's 'Insurance Law': 'For clauses in the insurance contract that exempt the insurer from liability, the insurer shall, when concluding the contract, provide sufficient notice on the application form, policy, or other insurance certificates to draw the policyholder's attention, and clearly explain the content of such clauses in writing or orally. If no notice or clear explanation is provided, such clauses shall not be effective.'