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 instantaneously 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.
Do you need to pay for car insurance if you are just using your parents car or does theirs cover you?
What do you do if the insurance for a totaled car does not pay off the car loan?
If someone hits your parked car does their insurance company pay and do you still pay your deductible?
If you totaled your car and were arrested for DUI will insurance pay for your car in Texas?
If your son is a learner driver with you in the car does he still need insurance?
So long as your son has your permission to drive your car, he is covered under your insurance policy. (As long as he has a valid driver’s permit or license)
What happens to a totaled car after the insurance co pays you for it?
Some insurance companies will sell the car back to the proprietor. Others sell the totaled car to a salvage yard.
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 tipsy 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 buzzed driver causes a collision it’s not called an “accident”. Accident is when things just happen. Driving buzzed 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?
What does the insurance company have to pay if you total your car with utter 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 can you do if your car was totaled but the insurance didn’t pay the finish amount and you can’t pay the rest because you needed a fresh car and now it’s considered repossessed on your credit?
If you were not at fault in the accident, you can sue the insurance company for the balance on your loan. If you accepted the payment from the insurance company and signed a waiver from future litigation, you cannot do anything but pay the debt yourself.
What do you do when you total a car and still owe the finance company more than the retail value that insurance will pay and you have no gap insurance?
Reaction 1 .
I hate to have to be the one to tell you this, but there is not too much you can do. If you feel the insurance company’s valuation is wrong, and the settlement is unfair, you could discusss your situation with one or more ATTORNEYS [“usually,” a very first visit is free]. Don’t go to any attorney that doesn’t suggest free very first consultations, as there are many who do..
Otherwise, you’re just going to have to make the best of a bad situation. In order to do that, I sugguest:.
1. Discuss your situation with your finance company and, with a entire lot of luck, they MAY forgive PART of your note..
2. UNLESS there is a PREPAYMENT PENALTY clause in your loan note, take the ENTIRE settlement money and pay it ALL to the finance company. This gets your balance as low as possible..
3. TO PREVENT Harm TO YOUR CREDIT RATING, AND a lot of continuing collection pressures, proceed to make your payments until your loan is fully paid off. Not only will this protect your credit record, and prevent a lot of harassment, it is the right thing to do.
If your insurance pays purchase price for your car for a total loss and you are still paying off the finance of the car are you coerced to buy a fresh car or risk having your insurance rates climb?
When a car gets totaled and it’s paid off the lienholder gets paid very first and you get whatever is left over. In California, your insurance cannot be raised until the end of the term. If the accident was your fault your insurance will rise. If it wasn’t then the insurance will rise depending on the type of fresh car purchased.
What can someone do if they get into an accident with a vehicle they’re still paying for with no car insurance?
Will your insurance pay for your car you totaled and it was your fault you have total 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.
Your hubby was working on your car and it shorted out and caught fire will your insurance company still pay?
If your car is proclaimed totaled do you still have car insurance The insurance company has not paid yet.?
It depends on what type of insurance you had. Liability, utter coverage…etc…Call your insurance company and find out.
If my car is totaled and not paid for will your insurance pay for it?
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 $Trio,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.
You total out your car and your insurance denies coverage will you still have to pay the notes?
Can you turn down a total by the insurance company and pay to have your car repaired by myself and still have car insurance?
My car was totaled. it already has a salvaged title. what will the insurance pay?
Will car insurance pay if totaled car?
If your car is out for repo but has been totaled in a car accident are you still repsonsible for the payments or will the insurance company pay off?
What if my car was totaled in an accident the insurance pay off the debt?
If you have total coverage insurance and have a car accident will the insurance company pay off your car if you still owe on the car?
I had no car insurance and the car is now totaled and I still owe on the loan do I have to repay the utter amount or can I set up arrangements to pay a lesser amount?
Should I proceed paying car insurance if the car is totaled and have it liquidated from my policy?
If you don’t get a fresh car then STOP!
If a car is considered a total loss after an accident and the insurance company pays you for what the car is worth do you still have coverage on that vehicle if you contnue to drive it?
If you own the car and the insurance company determines the car is totaled do you still keep the car?
My son totaled his car the insurance we had on the car was state mimuim and did not cover the car what do we need to do?
Single car accident no injuries but car totaled will insurance pay?
If you total your car after your insurance is canceled will GAP insurance still protect you?
If No Auto Insurance Policy is in Place providing comprehensive and collision coverage then your GAP Policy is Null and Void..
GAP coverage only pays in conjunction with your Auto Insurance Policy..
No Auto Insurance! No Gap Payment
If you get into a car accident and the other person does not have insurance do you still pay the deductible?
If your car is totaled and inoperable do you proceed to pay your auto insurance?
Do you still have to pay your car insurance if your car is off the road?
If your car is totaled do you still have to pay off the insurance policy?
In Fresh Zealand if an uninsured drivers car is hit by an insured drivercar will the insured drivers insurance still pay for the damages to the uninsured car?
How long can an insurance co take to pay for your totaled car?