Generally, the agreements that you have with your secured creditors (such as for your car or your house) require that you maintain full coverage insurance for that property. If you fail to maintain the required insurance naming the creditor as loss payee or additional insured on your insurance policy, the creditor may ask the court for permission to take that property from you. The Bankruptcy Court requires that all vehicles be insured with no more than a [$250/$500] deductible for collision and comprehensive coverage and that the premium be prepaid for at least three months.