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In these cases, the lender buys the insurer policy and bills it to the borrower. This allows the bank be certain the car has adequate insurance plan. At the same time, it assures that bank that the insurance is kept in force for the duration for the loan. Refinancing with the same lender donrrrt want to affect this of life insurance policy. However, changing lenders will basically guarantee an adjustment in your automobile insurance rates because the insurer modify.
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