Common Contracts
1 similar Physical Damage Insurance Requirement contracts
REQUIREMENT TO MAINTAIN PHYSICAL DAMAGE INSURANCEPhysical Damage Insurance Requirement • June 24th, 2020
Your installment sale agreement requires that you obtain and provide evidence of physical damage insurance naming Creative Finance, Inc. (“CREDITOR”, “us” or “our”) as loss payee (the “required insurance”) and that the required insurance must be in force during the entire term of your installment sale agreement. You may obtain required insurance from any licensed insurance agent and/or authorized insurance company of your choice. Failure to obtain the required insurance on your own or to keep it in force consistent with the above constitutes a default under the retail installment agreement, which gives CREDITOR the right to repossess your vehicle or to purchase our own insurance to protect our interest and to charge all costs of that insurance to you.
