Yes. Your contract requires that you insure your vehicle with comprehensive and collision insurance. You also must maintain liability insurance as required by law. You must maintain this insurance throughout the term of your contract. To comply with this requirement, the insurance policy must include: insurance coverage naming each borrower/co-borrower; a complete description of the vehicle financed, including the Vehicle Identification Number (VIN); PFS named as loss payee; and coverage in effect from the date of purchase.
If you have additional questions, please contact the local PFS branch that manages your account.