Some insurance companies will sell the car back to the possessor. Others sell the totaled car to a salvage yard.
If you have utter insurance on your car and it is totaled by an unlicensed driver what happens with your insurance and payments for the car?
If this unlicensed driver was driving your car with your skill, you are screwed. But if you mean an unlicensed driver hit your car, if you have utter coverage you should be able to collect on your insurance. The insurance will make the check to the leinholder and they will give you any excess or expect you to make up any shortage to pay off the loan. In some cases, if you did give permission for the uninsured driver, your insurance company will pay for the loss but make you sign an exclusion stating that the driver will not be covered in the future for any reason. You would be liable for total cost if it happens again. You can also expect a spike in your rates if they reside with you.
What do you do if the insurance for a totaled car does not pay off the car loan?
I faced the same thing about a year ago. The insurance company did not want to give me what was needed. I got on-line and found many cars that were just like mine and demonstrated them that my car was worth more than they were wanting to give me. They still did not want to give me what the car was worth. So I went to petite claims court and filed suit on the driver of the other car. The person’s insurance has to represent them. Also go and look at the comps that the insurance company are using for your car to see if you can substitute the car for what they want to give you. ResponseUltimately it is your responsibility that you either made low payments, took out a very long loan, or picked a car with high depreciation. The insurance company is not liable for the inflated amount you owe–only what the car is worth. ReactionThe insurance company will only give you the value of the vehicle, as per the “Kelly Blue Book”. They will also send an appraiser out to see what the condition of the car was, as in mileage, any previous harm. If the accident was another driver’s fault, you have to sue him and/or his insurance company for the remaining balance.Whatever you borrowed to obtain the vehicle wil always be more than the car is worth. You have already lost money on it as soon as you drove it off the car lot. But do your research. Go online for “Kelly Blue Book”, and get the estimate of the car’s value. If it is more, then dispute it with the insurance company. Print the page out. ReactionWhen you bought the car fresh or used from the dealer you had the option to purchase something called GAP INSURANCE from them (the Dealer, not the insurance company) for your exact situation. If you did not have enough equity in your car for the insurance pay off to cover it AND did not have gap insurance. basically you are screwed and responsible for the rest of the loan amount car or no car. Some people believe Gap insurance is a rip off so they do not suggest it to you and some just don’t know what it is. They do not need to be selling cars. Not fair but the way of life. Father is an insurance sales man. I also had a chick hit me I had GAP insurance and she did not. She still had to pay off the balance on the loan even however she did not have the car. The courts won’t do much because you had the option to purchase gap insurance and you did not, it does not matter that you did not know.
What happens to a car that’s proclaimed totaled by the insurance company?
If you want to keep a totaled car, the insurance company will determine the salvage value and deduct that from your settlement check. You can still get liability insurance (if there are no safety issues related to the harm), but not collision or comprehensive unless you have the repairs made..
If you totaled your car and were arrested for DUI will insurance pay for your car in Texas?
Very likely not. You bruised it during the commission of an illegal act (DUI). If you hadn’t totalled it, the state would have most likely confiscated it anyway.
What will happen to your bankruptcy after your car which was the only thing you were paying in your Ch 13 was totaled and paid off by insurance.?
This can be a complicated issue. You should speak with an attorney in your area. .
If the vehicle was fully paid off by the insurance, then you may still owe fees to the Trustee or previous attorney..
The dollar amount you pay for the loan and the dollar amount you pay to accomplish a chapter 13 are not the same..
If you total your car in an accident can a insurance company pay below low blue book?
Each situation is different and there is no definite reaction to this because there is no stardard but Yes there is a possibility.
What happens if you have no car insurance and have a wreck but are willing to pay for damages?
Then you are doing the right thing. If you avoided getting a ticket then the accident won’t become part of your record.
In Florida If you were in an accident and was excluded from driving the car and it was not your fault can the insurance co make the holder of the car pay for the damages on the other car?
The insurance company is not going to force anyone to pay for damages to a car. The person that was driving the car and or the possessor of that car that caused the accident is liable for the damages to the other vehicles involved in the accident. If there is insurance coverage for that harm then the insurance company will pay. However if the driver of the at fault vehicle is excluded from the insurance policy then the insurance company may be loosened from it’s responsibility to pay on behalf of the holder of the vehicle.
Will car insurance pay for a car totaled in a DUI accident?
It should. If the “at fault” vehicle is insured, it’s supposed to cover the victim’s vehicle 100%. If the “at fault” vehicle has comprehensive and collision insurance that insurance is supposed to cover the at fault vehicle up to the deductable amount.Note that the toasted driver will liberate his insurance and be required to get the VERY expensive DUI “insurance endorsment” since he/she is now in the highest risk bracket..
BTW, when a tipsy driver causes a collision it’s not called an “accident”. Accident is when things just happen. Driving inebriated is the CAUSE of the collision and as such the collision is not called an accident. Call it a wreck, crash or just about anything else that takes away the implication of a random act.
If you only have liability and your car is totaled in an accident will your insurance pay for it?
Car insurance:liabiltityNo. Because liability only covers the damages to the other persons car in an accident. “Three. Property Harm LiabilityThis coverage pays for harm you (or someone driving the car with your permission) may cause to someone else’s property. Usually, this means harm to someone elseï¿½s car, but it also includes harm to lamp posts, telephone poles, fences, buildings or other structures your car hit.” See the link below for more information on coverage. ReactionNo. Liability takes care of the other driver and his vehicle only. ReactionNo. Unluckily, liability only covers the OTHER fellow’s car. If you do not buy the “comprehensive and collision” coverage, YOUR car is only covered if the OTHER man is at fault. ReactionIn the UK there are three main types of car insurance: 1. third party; Two. third party fire and theft and Three. comprehensive. The very first type will not pay for harm to your vehicle in any event; the 2nd will pay if harm to your car is caused due to fire or theft and the third will pay in any event for harm to your vehicle. If however harm is caused by the user of another vehicle you will be entitled to claim compensation from the other driver’s motor insurance for your vehicle harm and if no insurance is in place form the Motor Insurers Bureau. See the related link entitled “car accident claim” to see how to display legal fault for your car accident.
What does the insurance company have to pay if you total your car with total coverage?
They pay whatever the value is of your vehicle less the deductible..
The value they pay, in most cases, will be the trade-in value or average private sale value. Not enough to substitute the car even when you add the deductible..
anything you do with the car or any one else but beware when claiming on insurance they will charge you more next time
What should you do if a co-signer on a car loan totaled car with no insurance now you are paying the loan?
You should sue the co-signer. Even however you may be the primary person obligated to pay the loan, he is responsible to you for totalling your car. You still have to pay the loan company because you took out the loan; but the co-signer caused the loss. You won’t be able to force the loan company to take payments from him tho’. Getting him to reimburse you will be your problem.
Will your insurance pay for your car you totaled and it was your fault you have utter coverage on your leased car?
This is sort of an educated guess, but I believe the insurance would pay the dealer and not you. I simply say this because when leasing, you never own the car, you simply “rent” it for a definite amount of time.
What happens if you reject the insurance companies suggest for the totaled car?
If you do not agree with or wish to reject the companies settlement suggest then it is time to attempt a renogotiation of your settlement..
Reminisce that in Most jurisdictions the company is required to make an attempt to lodge your claim within 60 days. They are not actually required to lodge within 60 days, only to have made the suggest..
If you have reason to believe that the settlement suggest was inadequate, you should clearly and calmly explain in detail how and why you have come to a different valuation of your claim. You will likely find the company receptive to your opinions and may get them to consider factors that they previously did not take into account or were not aware of when they made the very first suggest..
Most Insurers with some few notable eceptions are anxious to come to a fair settlement within the regulatory guidelines. After all, a 1,000 dollar good faith settlement with a sated claimant is worth more than Ten,000 dollars in advertising..
1. If you reject the suggest The company is now released from the regulatory time limit required to lodge the claim..
Two. Naked in mind also that the company only has to make an suggest that is in line with the market or replacement value of the vehicle. Meaning the comparable value of the same or similar type vehicle. Sentimental value and extenuated values such as classic car value is not a factor in determining market value. Classic or Antique vehicle value should be covered on the Owners Policy with a classic auto rider linked to the owners policy.
How do you get the most money from your insurance co after your car is announced a total loss from a flood harm?
I concur “100%” with Insurance Plus, you are owed the ACV (actual cash value) of your vehicle prior to the loss. The ‘most’ money is that amount, and no more. you are to be put back in the position you were in, prior to the loss no less and no better..
The “Most” Money you can get is what is considered “Fair” compensation for your loss.
If my car is totaled and not paid for will your insurance pay for it?
Car Loans .
In most cases, insurance companies are only required to pay up to the book value of your car. What this means is that if you owe $15,000 on a car loan and the car is only worth $12,000, you will still be held responsible for the remaining balance which in this case would be $Three,000. This is also known as being upside down. If you purchase GAP, a.k.a a debt cancellation contract, then you would not be held liable for the remaining $Three,000. This is why it pays to purchase a car that has good residual value meaning it shouldn’t depreciate much swifter than you are able to pay off your loan.
What is a health insurance co pay?
Generally, a co-pay is a stationary amount that you’re responsible for before the insurance coverage starts for a particular medical service.
My car was totaled. it already has a salvaged title. what will the insurance pay?
It depends on many aspects, however since it already has a salvaged total it will be significantly lessened than if it didn’t already have a salvaged title. Your insurance company should be able to give you specifics as to why they are suggesting what they do.
Will car insurance pay if totaled car?
If you have total coverage they might pay you the lowest market value fo your car. They will deduct your deductable.. Insurance companies are out to make money so they will find the cheapest way out
Can the co-buyer insure a car?
Yes the co-buyer can insure the car because basically its sayingthat the co-buyer has ownership in the automobile as well as thebuyer.
What happens when you do not pay car insurance?
Legal issues such as a minumum of $500 fine. That only goes up if your caught more than once. Possible suspension of driving. Also if your in an accident and it was your fault well that cost is out of your pocket rather than the insurance company.
What happens if you dont pay parking tickets on a car that is totaled?
When violating a rule, it is significant to pay the fines associatedwith it. If a person does not pay a parking ticket, they can end upwith late fees and possible jail time.
What if my car was totaled in an accident the insurance pay off the debt?
Only if you carried GAP insurance will it pay off what you owe to the Lienholder. If not then they will only pay what they valued your car to be worth which may or may not be enough to pay off the loan.
Should I proceed paying car insurance if the car is totaled and have it eliminated from my policy?
If you plan on continuing the coverage on your fresh car then the response is yes..
If you don’t get a fresh car then STOP!
Single car accident no injuries but car totaled will insurance pay?
Evidently if you have collision that should look after the harm to the car. Now the collision comes in many shades of grey. The insurance company will pay cash value after taking into account the mileage, year, and type of vehicle. Plus the cost of dealing with the harm vehicle cost would be subtracted from the settlement of the cash settlement too in some cases. If you have no collision then you have no gam to stand on, your are left holding the bag.
Can an auto insurance co turn down to pay for my car and injury when their insured was at fault just because my registered car was insured under my friends name and not mine in the state of California?
Yes here the car insurance rock hard can reject your insurance claim as the car is registered in your friends name and not yours.
If your car is totaled and inoperable do you proceed to pay your auto insurance?
Yes. Until the claim is closed. You may also substitute your vehicle and just be able to put the fresh vehicle in place of the old one. Your best bet is always to speak with your company about it and get their suggestion. NEVER just stop paying. Then you may get cancelled for non-payment making getting insurance when you want it down the road tighter and much more expensive.
When you win a civil suit from a car accident does the defendant’s insurance co pay their part very first and then the defendant pays the rest if they can or what happens?
If the liability boundaries have been exausted, then the defendant has to pay the remainder of the judgement.
What happens if you total your car and have gap insurance?
if your car is worth 10k and u own 20k and your car gets totaled, your car insurance will cover 10k for what your car is worth and cap will cover the rest. you wont get any money but you also wont have anymonthly payments anymore.
Is it legal for the insurance company not to pay the loan company on a totaled car?
Yes. The insurance policy is a contract. All it requires the insurance company to do is to pay the fair market value of the vehicle. You would need to get what is called gap insurance to pay the difference inbetween the market value and the loan value.
What if your car was hit and it has a salvaged title dose the insurance co have to pay you the value of your car?
Insurance is meant to get you back relatively close to where you were before the accident occurs. The states view of your title should have no bearing.
If your car is totaled do you still have to pay off the insurance policy?
No, simply because there is nothing to be insured any more, your car is gone.
You own your car it was totaled Should you let the insurance company have it after they pay you?
This depends on what the settlement covers I have required the insurance company to permit me to retain ownership, this reduces the settlement. Or the if you do not specify that this is what you want the insurance company gets the car.
How long can an insurance co take to pay for your totaled car?
The general reaction, absent a contractual or statutory requirement is, “a reasonable time”. When a car is determined to be a total loss, it essentially means that the insurer has determined that the cost of repair exceeds (usually, some statutory) percentage of the actual cash value of the car. In that example, the law requires that the be proclaimed to be a total loss. The time consuming part of that process can be in determining the actual cash value of a car of like kind, quality, and other features. While there are commercial guides to help in that determination, often there is a period of negotiation with the proprietor as to the final value. Many States provide that once a claim has been resolved by agreement as to the value, and all necessary documents have been signed (in this case, proof of claim, title certificate, and other documents that the State or the insurance company may reasonable require), payment must be made within 30 days. However, the period may be shorter or longer and State law will govern.
What happen when you pay off your monthly car insurance?
If you would like it to proceed then you should make the next monthly payment.
Where is the cheapest car insurance co?
Finding the cheapest car insurance company has never been lighter. It is online and at everyinsurancequote site. Not the prettiest site but it will undoubtedly save you money. I compared Four quotes and saved about $245 on my premium with Geico.
How much should the insurance co pay you for a totaled 2005 Chevy Malibu with 140000?
They usually pay out based on market value, so I would research what a similar vehicle goes for in your area.
Car totaled insurance value car at 16000 and loan amt is 12400 can you use your gap insurance to pay off car loan?
If they gave you 16000 on the car, you would not need gap insurance since your loan amount is 12400.
What do you do if the insurance for a totaled car does not pay for my private injuries?
If you feel you haven’t been treated fairly, I would file a complaint with your state insurance company or have your lawyer do it.
Will at fault insurance buy you a fresh car after paying your car totaled?
No. They will give you the money for the value of the vehicle and then you are on your own. However, check with your state’s Department of Insurance. You might have recourse against the insurance company if you are incapable to find a comparable vehicle with the amount they gave you.
Do you pay insurance on a insurance co provided rental car?
In the case of Enterprise, yes. If your auto insurance covers the cost of a car rental while your own is being repaired, that coverage typically only covers the base cost of the rental itself, and not any extra fees such as accident insurance on the rental car, extra authorized drivers, etc. Be aware that the amount that insurance policies provide for rental cars is typically much lower than the rental car would normally go for. Many agencies, Enterprise included, have special rates for insurance claim customers (which is why you are required to present a claim number from your insurance company for rental purposes), and the rental agencies are familiar to dealing with insurance companies. Insurance rentals make up a substantial portion of rental business.
If a rented car is stolen and insurance pays but then the car is recovered what happens to the car?
The finder is obligated under civil and criminal law to notify the Police and the Possessor of the vehicles recovery and location so they can come pick it up. Since the the Insurance Company already paid for it. It belongs to the Insurance Company. If the Rental company wants it back, They will have to attempt and buy it from the Insurance Company. All salvage rights would belong to the Insurance Company because they have already bought and paid for the car. It would now belong to the Insurance Company. If the Rental Car company attempted to keep the vehicle without very first negotiating a purchase or buy back from the Insurance company it would be considered Grand Theft. They would be subject to criminal and civil charges.
Do you need to still pay insurance when your car is totaled?
Assuming that you had collision coverage on your car, when it is totalled, the insurer pays the “actual cash value” of the car, less the collision deductible. This represents the market value of the car instantly before the collision. It takes into account make, model, mileage, condition, and other features. When the car is totalled, you will be given the option of keeping the salvage or letting the insurer keep it. If you keep it, the amount paid to you will be diminished by the value of the salvage. If you keep it the salvage and have the car repaired, sometimes you are permitted to obtain a “salvage title” from the motor vehicle authorities. If the vehicle, as rebuilt, is roadworthy, you will need to insure it as you would any other vehicle.
What type of insurance will pay for harm to your car if it is announced to be a total loss?
Physical harm coverage pays for harm done to your vehicle. This is divided into two policy provisions, comprehensive and collision. Collision is if you hit something or turn the vehicle over. Comprehensive is about everything else, including theft, vandalism, animal collisions, fire, glass breakage, etc. So the main thing you will need to determine is what caused the harm. If you hit a deer then it will be a comprehensive claim. If you hit a telephone pole or another vehicle then it is a collision claim.
What happens if a car hits a tree will insurance pay?
Yes your insurance will pay for it because if you have good insurance it will pay for it
Will the insurance co. pay for a brake job for a car 9 years old?
never heard of an insurance company that pays for car repairs, period! if you find one please let us know!!
What happens if you keep what the insurance valued your car and not pay the dealer for your car?
If you owe money for the car and the dealer finds out about it, chances are,you will end up in court facing charges.
When your car is totaled but you don’t have the title will the insurance pay you?
It depends on why you don’t have the title. If you don’t have it because it is financed then yes. The insurance company will do the work for you of getting the title released from the bank. If you don’t have it because you don’t own the vehicle then no the company will not pay you. Legally they cannot pay you for a vehicle that you don’t own just like you cannot insurance a vehicle you don’t own. They also cannot pay the true possessor because that person does not have a legal contract of insurance with the company. No one gets paid.
Who governs car insurance cos?
In the United States each State normally has a Department of Insurance or other agency that is given the power to regulate the insurance industry. These departments control rates, policies, and most factors of the insurance industry within the state. They also generally audit the companies to make sure that they are financially strong enough to pay their obligations to clients and claimants. Many state departments depend on other multistate organizations to standardize insurance policy forms inbetween states.
What is co-pay in health insurance?
In health insurance a copay (copayment) is a motionless amount you payfor covered services, typically when you get the service. e.g So ifyour policy says, 10% Copay and your claim amount is Rs.1,000/- youwill have to pay Rs. 100 and the balance Rs. 900 will be paid bythe Insurance Company. Generally, The co pay clause is found in health insurance plan.Each plan treats copays differently, so it’s significant tounderstand if your plan offers copays, what services they offerthem for, and how many of one service you can get at that copay perpolicy period.
Categories: auto insurance companies