What would you like to do?

If you owe more than the value of a car that was declared a total loss how much does the insurance company pay?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .


Typically the insurance companie will pay the cost of the vehicle at the time of loss, they will not pay anything more. If you purchase a vehicle that is higher than blue book, then consider gap coverage to help with this type of situation.
68 people found this useful
Thanks for the feedback!

What option do you have when your car is totaled you made a large down payment and owe the bank but the insurance will only pay fair market value?

%REPLIES%    Answer   The insurance pays the lender. The lender then has you pay the remaining balance of the loan, after the sum of the insurance payment is taken o

If your car is worth 12K but you owe 20K on it will the insurance company pay it off if it is totaled in an accident?

You can only collect the fair market value or retail book value depending on the regulations as established by your state's insurance commissioner. The only way you can coll

Can you get full coverage from other insurances on a car if is was declared a total loss by your insurance?

  If the vehicle has not been repaired and inspected and title cleaned up, any insurer doing their job will restrict or not write collision and comp. However it does happe

What happens when your vehicle is declared a total loss and you owe more than what the vehicle is worth?

  Answer     Ok - There are a few things that may very well effect the outcome and answer to your question. I am an Insurance Adjuster in CA, NV, and CO. I am by

Is it possible to get more than the blue book value of a totaled car if the insurance company offered 6k but you need 10000 to pay 10 percent in taxes plus finance costs for a new car?

  Answer     You should expect to get the amount necessary to purchase a similar car in similar condition inclusive of taxes and registration fees. If you owe mo

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?

    Answer 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,

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 wor

What happens if your car is totaled and you owe more than your insurance settlement?

If you purchased GAP insurance it will pay the difference between what the insurer pays and the amount left on the loan.  If not you need to determine how the insurer came up