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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 112777
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I am the loss payee on a automobile ins. policy . I have repossed

Resolved Question:

I am the loss payee on a automobile ins. policy . I have repossed the vehicle with significant damage , The ins co. claims policy was revoked 12 days prior to accident, but no notice was ever received. Is the ins co. liable for the damage claim . I am in ny state
Submitted: 7 years ago.
Category: Business Law
Expert:  Law Educator, Esq. replied 7 years ago.
No, the company is not liable for damage if they have revoked the policy, but they are liable for sending a notice of revocation. Absent notice of the revocation on the policy to the policy holder (not the loss payee if they are different) then you have a possible claim against them, but if they sent notice to the polcy holder then you would not have a claim and they are not liable, the policy holder would be liable to you for the damages.

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Customer: replied 7 years ago.
the ins co never sent notice of revocation , what are my options
Expert:  Law Educator, Esq. replied 7 years ago.
Then your options are to sue claiming that absent notice the revocation should not be allowed, since the policy holder would have no way of knowing of revocation of the contract without the notice.
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