You own your car it was totaled Should you let the insurance company have it after they pay you?

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.

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Or the if you do not specify that this is what you want the insurance company gets the car.

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 puny 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. ReactionUltimately 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. ResponseThe 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 woman 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.

Do you have to keep making your car payments when the car is totaled and you are in the process of suing your insurance company to pay for the car?

Yes. Unluckily yes. Even if you lose your lawsuit and are left with a uselss car you still have to pay off the loan or default on it and let the dealership reposess it. Even then the dealership will ruin your credit and charge you for the remainder of the loan minus whatever they sell the car for, which won’t be close to it’s value. Bottom line, pay it or file bankruptcy or find a good lawyer that know a debt dispute loophole .

If your insurance company says your car is a total loss but you want to have it immovable can they charge you a salvage fee to keep your own car?

Any vehicle, whether a total loss or not, has a value. A totaled vehicle, of course, has a significantly lesser value (assuming the actual total loss has already been lodged with the vehicle holder). This value can be anywhere from Five – 25% of the pre-loss value of the vehicle. If you determine to keep a totaled vehicle after lodging with an insurance carrier, they can legally liquidate the salvage value from your settlement. It shouldn’t be much, and you can request that they actually get a salvage quote from a salvage yard. The idea behind this is that you can’t legally profit from a loss. In your case, if your totaled vehicle has a salvage value, and you’re keeping the vehicle, the insurance carrier must deduct that salvage value. Otherwise, you will get a total settlement, and still retain a vehicle with some value. But…attempt working with the carrier on what that salvage amount is going to be. Sometimes they’ll adjust it to get the loss lodged, since you never “truly” know what the salvage value is going to be until the vehicle is sold at a salvage yard auction.

If your car is announced a total loss how much will the insurance company pay back to you if the car was purchased below book value?

Regardless of what you paid for the vehicle, in most cases,if your vehicle is deemed a total loss, you will be paid the local market value of your vehicle. If you happened to purchase your vehicle for less than that, you lucked out:)

Do you have to let the insurance company total your car if you were not at fault?

Liability, or whether or not you are at fault, has nothing to do with your vehicle being deemed totalled. If the repair cost exceeds the local market value of your car, it is a total loss.

If you total your car in an accident can a insurance company pay below low blue book?

Reaction .
Each situation is different and there is no definite response to this because there is no stardard but Yes there is a possibility.

Whose insurance company pays if you let your friend borrow your car and they hit a deer with it?

Reaction .
The insurance goes after the vehicle so your own insurance company would be primary. However, if you don’t carry the comprehensive coverage on your own policy and your friend has a vehicle with comprehensive coverage, his coverage would be secondary and pay for the damages.

If the insurance company totals your car can they take it from you?

After they give you a check for the value of the car (less your deductible), it is their car. If you want to keep it and repair it yourself, you can buy it back for the “residual value”. You can negotiate this value with the adjustor. One caution: If you keep the car you may also have to pay some storage charges to the repair shop that is holding it, especially if you do not have them make the repairs.

If you dont own a car do you have to pay insurance?

You only need Auto Insurance if you have a vehicle. Additionally, if you primarly rent vehicles, you should purchase a “non-owned” policy, or be sure you purchase the insurance that the rental company provides. ReactionAbout the only time that you have to have auto insurance without wielding a car is if you are required the have an SR-22 in order to maintain a valid driver’s license. In the case where you don’t own a car but yet need to have a driver’s license and are required to have the SR-22 then you would be buying a non-owners insurance policy. ResponseYou only need insurance if you plan to operate a car (yours or anyone else’s). If you don’t plan to drive at all, some states suggest a state ID card which is cheaper than paying for a driver’s license. ResponseUsually it’s the CAR that’s insured, not the driver. Anyone who licenses a car in just about any state is required to have a liability policy that will cover any driver. But if you’re planning to do a lot of driving of borrowed cars it might be a good idea to get insurance. Many vehicles only have liability insurance. If you want to be protected in case you harm a borrowed vehicle you might want to talk to an insurance agent to see what it will take. It all depends on what YOU want to do. If you’re talking about insurance for rental cars, most states require that the rental car company carry liability insurance. You can get a premier credit card that carries rental car comprehensive/collision for you at no extra cost when you charge the auto rental to the card. ResponseNo. Insurance is for people who drive. Even if you have a car, you don’t have to insure it unless you drive it. ResponseNo. The insurance is on the car, in order to provide money A) to you if you harm the car and don’t have the pocket money to repair it, B) for the lien company, should the car become demolished while you owe on it, C) to others, when your car damages their property (other cars, buildings, traffic signs, sidewalks, grass, fire hydrants… you get the picure) ReactionNot if you live in the US. Everything is relevant to the state laws where you live. In MA for example, if you are going to drive your parents car you (or they) will have to pay extra premiums for your inexperience even tho you are only an occasional operator. If you live with them, have a lic and will not drive the car, they must sign you off as an exluded driver. If you say live by yourself in Boston, and have no car, no,,,you do not need insurance. YOu can drive a friends car and will be covered on his unless you are making a habit of it. If you rent a car, you must buy their coverage! 4lifeguild.com

Driver excluded on your policy but carries insurance on own car totals your car will either one pay?

Reaction .
If an excluded operator wrecks a car that is covered by the policy excluding that driver there is no coverage on that policy. Your only hope is in filing the claim with the company that insures the driver for his own car. It is possible that you won’t be left holding the bag on this one but good advise is to not let an excluded person drive your vehicle.

Will car insurance pay for a car totaled in a DUI accident?

Response .
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 toasted 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.

What does the insurance company have to pay if you total your car with total coverage?

Reaction .
They pay whatever the value is of your vehicle less the deductible..
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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..
Reaction .
anything you do with the car or any one else but beware when claiming on insurance they will charge you more next time

You own your car it was totaled Should you let the insurance company have it after they pay you?

Can you fight your insurance company in a your fault accident after they stationary your car when it should have been totaled?

Response .
Absolutely! Regardless of fault, if you carry sufficient coverage (collision/comprehensive) you are entitled to have your vehicle either repaired to a “safe” standard, or a write-off payment received. The difficult part of proving such is in the time boundaries. DO NOT wait too long to seek a claim for a total loss. There is always the cargo of proof in this case, where you may have bruised your vehicle “after” the fact, and after such repairs were made. Note any demonstrable harm, (eg. Doors not opening decently, engine problems) and have a certified figure shop/mechanic inspect the vehicle RIGHT after the initial repairs are made..
Generally an insurer will have an appraiser re-evaluate the damages to see if indeed, they were caused by the accident.

Can carriers raise your premiums for a serious accident where your car is totaled and the insurance company pays for your car but the insurance investigator ruled that the accident was not your fault?

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Response .
yes if your ins.co. pays for your car..
They CanEven if they don’t pay for your car. My agent warned me that my homeowners premiums could be raised just for filing claims! They used to send an adjustor out automatically if there was a hailstorm or windstorm, but not any more. I just desired an ajustor to estimate the harm last spring and let me know if it would exceed my deductible.

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?

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Response 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 you give permission for someone to drive your car and they total it and are at fault should you file it through your insurance company or should you ask the driver to pay the damages?

Check Policy .
Check your insurance policy. Most policies permit someone else to drive a car but certain coverages may be affected. Check your policy.

Do insurance companies pay for the totaled car causing a collision in a DUI case?

Response .
yes if you have collision coverage barring any exclusions in your policy to the contrary.

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 $Trio,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.

Your friend sold you his car take over paymentsHe took the car off his insurance you insured the car and then totaled it but you are not on the title Will your insurance company pay for it?

Reaction .
As long as you have the title that he signed off of it and you signed on and you have insurance on the vehicle it will be covered.

Can you turn down a total by the insurance company and pay to have your car repaired by myself and still have car insurance?

Yeah, there should be no problem cancelling a claim on your insurance if it isn’t under way already.

Does the insurance company own the car after it is totaled?

You can put in an suggest to buy the written off vehicle from the Insurers if you want to repair it yourself. A write off is beyond economical repair, meaning it costs more than the car is worth to fix it. It doesn’t mean it cannot be repaired..

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There are different categories of scrapped vehicles, D, C etc. The Insurers sell the written off cars on to scrap merchants or motor traders to recoup their losses. You are ideally entitled to buy the car back yourself for a nominal price. If the Insurers are lodging your claim and providing you a settlement to get a replacement car, the damged vehicle does in effect belong to the Insurers..
Hope this helps, I worked in insurance for Ten years.

How do you negotiate with an insurance company for your totaled car?

Very first off, if your vehicle is totalled, the insurance company must give you a rental vehicle. Check the NADA current value of your vehicle , as well as several other resources such as Edmonds.com, Kelly Blue Book, etc. Be sure to look up the options that you had on your car an assure that the insurance company includes them when they are figuring the price out. Also, if you have things like brand fresh tires, mention it, as it could make the value go higher. Wait for them to tell you what they are going to suggest you before you say anything about the price. It could make a difference if you are dealing with your insurance company or if you are dealing with the company of the person who hit you. If the insurance company thinks they will be avoiding a possible lawsuit before they may give you a fairer value. However, don’t come out gun blazing talking about lawsuits, etc. Wait to see what they want to suggest you. See if you think that number is fair. If so, you are fine. If not, come back with a counter suggest (having done the research.) Good Luck! Reaction Provided by KeepItSimpleCoaching.com (This reaction isn’t accomplish, as I was just hit and am going through this process right now…)

Your car got totaled will the insurance company pay for it if tho’ the inspection sticker is expired?

Yes. The reason being is insurance covers the car not the person. So whether that person chooses to drive around with an expired license or an expired plate sticker is on them..
You will still get a ticket for those violations, but you will have insurance and the insurance company will abide by everything in the insurance contract.

Does your insurance company pay for your car?

If you carry total collision and replacement of your vehicle, depending on your insurance company, they will pay the blue book value of the car if it is totaled. That is why it is significant not to ever owe more than the car is worth, which is referred to as “being upsidedown.”

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

You own your car it was totaled Should you let the insurance company have it after they pay you?

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?

Your insurance will only pay off what the blue book value of the car is, whether that’s enought to pay off the vehicle is unknown to me. If you owe $7k and insurance says the car is worth $5k you owe the $2k difference.

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Should my insurance company pay for the car harm of the car that I recently bought but not yet added under my insurance?

If you have purchased a vehicle within the past 30 days and not added it to your policy yet, the coverages on your current policy will transfer to your fresh vehicle. If you are not carrying comprehensive and collision on your current car then harm to your fresh car will not be covered. Just because you have a 30 day window does not mean you should use it, the insurance company will still charge you effective the date you took possesion on the car, regardless of the day you call to make the switch. Puny things like this and letting other people borrow your car are too petty not to have adjusted permanently, there is no point in chancing things like this when the cost/time to make switches decently is so low.

Who wields the house after insurance company pays off mortgage following a total fire loss?

my mortgage balance is less than the total loss insurance claim check, how do i get the money difference to rebuild? I would like to keep the loan in place and have the money to substitute the home that burned, the check is made out to both of us, mortgage company and us. Will they refund the money or pay off the loan? I need the balance to make improvements on the home that we are substituting. Which would be valued more.

Your son got his license on 050108 you’ll get him a car should I be the holder of the car and he’ll join your insurance policy or let him have his own car and insurance policy by himself?

Since he is very likely just 16, you want to maintain control of the situation. If you own the car, you can withhold the keys for bad grades, late curfews, and so on. He can pay for the insurance, but it might be cheaper as an add-on to your policy.

If your car is a total loss will the insurance company help you fix it if you both pay?

If your car is deemed a total loss, the insurance company will only pay up the value of the vehicle. They will have nothing to do with the repairs. If the vehicle is worth $Five,000 and the harm is $8,000, you are going to pay $Three,000 out of your own pocket. Once the insurance company pays you that $Five,000, they are out of the picture. Just be ready for a ‘salvage’ fee to be deducted from your settlement by the insurance company. That is what they would have gotten for your vehicle if you had surrendered it to them.

Who keeps the car if it is totaled you or the insurance company?

You can keep the car if you like, albeit I’m not sure why you’d want to keep a wrecked car. If you determine to release it to the company, they’ll eventually send it to the junkyard.

If another driver hit your parked car and their insurance company total lost the car and your car is only one year oldthey pay for the car to the company with the lean and where does that leave me.?

Unluckily, it most likely leaves you looking for another car. The insurance company is only obligated to pay the actual cash value of the car, so once they paid your loan they very likely don’t owe you any more money (unless you put down a big downpayment and owe less on the car than it’s value after the year you’ve had it.)

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!

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?

Usually if the car is a total loss, the insurance company will pay you and take the car. They then sell it for parts/salvage. If they let you keep the car, all you have to do is check on the current status of your policy and see if it is listed.

If you own the car and the insurance company determines the car is totaled do you still keep the car?

No, however, they usually will suggest a “buyback” price, if you want to buy it back. Once they total, and pay for it, it is their property. This is assuming this is a utter coverage issue, where they would have to fix the car. If it is a liability only issue, in other words, they have to pay for harm you caused to someone else, but not for your car, then you retain ownership.

What if you disagree with the insurance company about totaling your car?

If you disagree about the amount of money you’re being suggested, you should very first let your insurance company know you don’t think it’s right. It’s possible that someone made an fair mistake, and if they look at the figures again they’ll catch it. If they still insist that’s the right value, however, you’re most likely going to have to have your car appraised (at your own expense) by an independent appraiser, or possibly two if your very first appraiser and the insurance company’s appraiser have very different opinions on the car’s worth. If that still doesn’t help, you’ll need a lawyer, because at that point your only real option is litigation.If the problem is not the money, but that you simply want your car immobilized instead of having it totalled, the insurance company will generally suggest to pay you what (they think) your car is worth, after subtracting your deductible and the amount they expect to get from selling it to a salvage yard. If you do this, you will have to pay for the repairs yourself. Also, you may have problems getting insurance for that car in the future.

If someone borrows your car and total loss it will the insurance company pay for damages?

Yes. Collision coverage pays for harm to your vehicle, minus the deductible, regardless of who is driving it. Also, if you loan your vehicle to someone they are considered a permissive driver and you are liable for harm they cause in your vehicle even if they have their own insurance. Insurance always applies to the car not the driver.

You own your car it was totaled Should you let the insurance company have it after they pay you?

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.

Is it significant to pay insurance on a car that you own?

It is, you should cover any assets that you own in case they are bruised or stolen.

Can you buy back your totaled financed car lets say my car is financed and I get into an accident that totals my car. I know the insurance will pay out the bank but can i still buy it back after?

Yes, you can usually but it back because it is then inbetween you and the insurance company. But keep in mind your insurance company normally pays the ACV (Actual Cash Value) which may not be what you actually owe on the vehicle unless you carry Gap insurance. Gap Insurance is an extra coverage that covers the balance of the loan inbetween the ACV and remaining Balance.

Do you have to pay towing company if car is totaled?

If the insurance does not cover the expense it is likely the person to whom the vehicle is registered will be responsible for towing and any other subsequent charges such as storage fees.

When is a car considered totalled by the insurance company?

When the cost required to repair the car to be fully operable and safe are greater than the market value of the car. In some cases, insurance companies will announce a “total” if, in their opinion, it cannot be restored to a safe condition, regardless of cost.

Can an insurance company turn down to let you drive a car insured by them when you have other insurance?

Since the insurance company does not own the vehicle, they cannot reject to let you drive it. What they CAN do is reject to provide coverage for a person driving the vehicle – but it would state that in the policy provisions. If the driver in question was covered under his/her own policy then that policy might very well extend to other vehicles he/she were driving, but again, that would be in the policy provisions. In other words the reaction would lie in the policies in question and there is no standard reaction – albeit in most cases – but not all (in the US, anyway) the driver would be covered under both policies, the one on the rated vehicle providing the primary coverage.

Should your insurance company pay you anything for a car accident that total lost your car and the other driver was at fault and you were fully covered but your granddaughter was driving?

It depends on your coverage. Is there an age limit exclusion or an exclusion for a specific person. If you policy excludes anyone under 21 and you grand-daughter was Eighteen then it is not covered.

Can you get liability insurance on your car if the insurance company totals it?

Normally yes. Some companies may require proof that you have repaired the car and it is road-worthy.

Do companies have to pay car insurance for privatly possessed cars used for company use?

No Companies do not have to pay car insurance for vehicles possessed and used by their employees. Why would they. If the vehicle is used by the employee for work there is most likely a method that they use to reimburse the employee for expenses of the vehicle. This is a matter inbetween them and their employees.

Do insurance companies pay for wrecked cars?

It can be said that insurance companies pay for cars after a wreckas long as you are fully insured. But when a person does get money from the insurance company it doesn’t mean that they are buying it from you. The car will have to be taken to a car junk yard and you can sell it to them.

What does the insurance company do when a car is not total in a wrecked?

If a vehicle is bruised in an auto accident the insurance company that insures the vehicle has the option to repair it, substitute it, or pay the actual cash value of the car. The last one is in the case of a total loss and the company never attempts to substitute a vehicle anymore. In this case it would repair the vehicle and pay for the cost of repair less your deductible which you will be responsible to pay for yourself.

Are you required by law to let the insurance company take your car if it is totalled before their appraiser has appraised it?

No. I would suggest that you insist that they don’t budge your car. They will treatment you to ask if they can stir the car to a lot that doesn’t charge storage. If you do that you have given away some of your leverage. You do not have to let them stir the totalled vehicle until they have made you an suggest. The day after an suggest was made to you, they are no longer responsible for the storage charges, you are. You need to look around and see what similar vehicles are selling for at car dealerships and in private ads so that you know the ballpark your vehicle is worth. Most adjusters want to finish the claim, pay you a fair value and get the claim closed with everyone glad. If you have reasons your vehicle is worth more than average tell the adjuster. If you have just put on a fresh set of tires, have very low mileage, etc. these can increase your value. If your is very clean from scrapes or never being hit before, etc.

When you still owe money on a car and it is totaled who does the insurance company pay the money to?

The language switches depending on where you live. If you borrowed directly to buy the car the Bank or Finance companywill Be registered with your insurance company and they will bepaid. If there is money left over you will get a check from the bank orthe insurance company depending on what lender and where you live. If you went to the local title loan place you may be paid directbut if you don’t pay the title loan guys they can both sue andcharge you with fraud.

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