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What are the Insurance Requirements for my Vehicle?
What are the Insurance Requirements for my Vehicle?
Updated over a week ago

To complete The Insurance Task for your Loan Application, providing your currently owned vehicle's (Without the new vehicle on it) insurance policy is acceptable if you'll be adding your new vehicle purchase to your existing policy (Expiration Date must be 30+ Days from current date).

For the new Vehicle, you agree to maintain insurance for the term of your Vehicles Loan. The policy must insure against loss or damage to the Vehicle. The policy must be acceptable to Tenet. You may use an existing insurance policy or obtain insurance from an insurer authorized to do business in your state. Your insurance must include comprehensive, fire, theft, and collision coverage in an amount enough to cover the Vehicle’s actual cash value. You must name Tenet Energy, Inc. a loss payee. You must provide us with a copy of your insurance policy for your new Vehicle within 30 days after your loan has been funded, or upon later request.

If you fail to provide us with evidence of insurance, Tenet may buy insurance at your expense to protect our interests. And any replacement coverage we may provide may be more expensive and provide less coverage than insurance that you can get on your own. Tenet may sign your name on any check we receive for insurance proceeds.

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