(a) A holder may request or require a retail buyer to insure the motor vehicle purchased under a retail installment transaction and accessories and related goods subject to the holder’s security interest.
(b) The insurance and the premiums or charges for the insurance must bear a reasonable relationship to:
(1) the amount, term, and conditions of the retail installment contract; and
(2) the existing hazards or risk of loss, damage, or destruction.

(c) The insurance may not:
(1) cover unusual or exceptional risks; or
(2) provide coverage not ordinarily included in policies issued to the public.
(d) The holder may include the cost of insurance provided under this section as a separate charge in the contract.