Do you have to have full coverage for gap to pay?
Yes, you do. GAP coverage covers the difference between the value of the car and the amount owed.
That means that you are making payments on the car, which is financed, which requires full coverage, insurance wise.
Full coverage is more Expensive that PLPD because with full coverage anything that happens to your car they will pay for yours and the other persons car but with PLPD they only pay for the other persons car.
If you have full coverage do you need UMPD coverage or will full coverage suffice if you are hit by an uninsured driver?
you dont have to have umpd coverage if you have full coverage but most of the time on full coverage it has umpd and if you dont have umpd your collision will pay for fixing your vehicle but most of the time there is a higher deductible on collision I know this because i am an insurance agent
Yes you do. You need to have Collision and Comp coverage for Gap insurance to appy. Let's say that your vehicle is totalled out in a car accident and your loan is for $15000. Now lets say the insurance company offers you $10000. You would still owe the bank $5000 for your car so in this case, the Gap insurance will cover the other $5000 and pay off the loan in full once you submit… Read More
When purchasing a car if the owner already has full coverage on a trade in do the owner need gap insurance?
Firstly, talk with your insurance agent before signing for the new car. Dealers will sell you GAP coverage whether you need it or not and their GAP is a very expensive coverage that is paid up front and then financed so you pay even more. The only time you need GAP coverage is when the financed balance is more than the value of the car. If you are trading in another car you may have… Read More
If a borrowed automobile only has liability coverage will full coverage pick up and pay for the damage?
If it only has liability, then it can't get full coverage benefits. If the driver has full coverage auto insurance, it may pick it up for the vehicle he's driving, but that tends to be rare.
Homeowners insurance does not cover automobile losses. If you have full coverage insurance on your car you can seek coverage from your auto insurer. If you have only liability insurance then that is just the chance you take in opting not to obtain full coverage. Answer If you had full coverage insurance, it would pay for it. If he had insurance on the building, there should have been coverage for contents. He would collect and… Read More
Full coverage insurance will help you get your car fixed after it has been wrecked. You can also get a new car if it has been completely totaled.
Will the Insurance Company pay for a rental car if the accident is your fault and if you have full coverage ins?
Only if you have bought the extra coverage to have a rental. "Full coverage" usually just means you bought liability, comprehensive, and collision insurance.
That depends on what insurance coverage you have. If you bought only the state-required liability, NO. If you have full coverage you will get the book value of the car minus your deductible. If you have a loan on the car, this will probably not pay it off and you will still owe the remainder unless you also purchased "gap" insurance. Gap insurance will cover the remainder of the loan except for the deductible.
I take it that the vehicle was found rather quickly. If they had not paid anything, I would guaranty that they will not be paying the claim for GAP coverage. If there is any damage to the vehicle after it was found, then you could have it fixed under your comprehensive coverage.
You were in an accident with someone with a full coverage you paid his 500 deductible and his company wants you to pay the repair charges How come?
You were in an accident with someone with a full coverage you paid his 500 dollars deductible and his company wants you to pay the repair charges How come?
No....only the value ay the time of loss. Gap coverage is available for a reasonable rate on most insurance policies. It can also be purchased through the car dealership.
If you have full coverage on your car, then your insurance should pay. But if all you have is liability insurance, then no, it won't pay to fix your car. But there is a chance that your uninsured motorists coverage will pay for the damages, if you have it.
When a vehicle is financed, you must have comprehensive, collision, and liability or 'full coverage' to protect the bank. I am not sure what you mean by 'requirements' other than that. You can also buy "GAP" insurance, for if something happened and your car is totaled and you owe more that it is worth, the GAP will make will make up the difference
If you are in an accident with someone whose insurance lapsed but you have full coverage will your insurance cover it?
Yes they will, but you may have to pay a deductable if you do not have uninsured motorist coverage, and you you must have comp & coll coverage.
In California it is normally necessary for you to currently have comprehensive and collision coverage in place at the time of the accident for your gap insurance to take effect.
When carrying full coverage on a vehicle is a windshield replacement automatically covered in the policy for free?
Windshield repair or replacement is typically included in "full coverage". Depending on the policy you may, or may not, have to pay a deductible.
Your car was totaled no other car involved you had full coverage insurance and GAP insurance will you be reimbursed for your loss or will it all go to the finance company?
the first priority of the insurance company is to pay of the loan holder (so the value of your car is determined and out of that) whatever is left over will be sent to you. If the value of the car is less than what you owe you are stuck with the balance as far as gap coverage goes you will have to check with your insurance company they're all different
GAP coverage is very necessary especially in a lease situation. GAP coverage comes into play if a vehicle is deemed totaled. What GAP does is to pay for the difference in the actual cash value that is payable under the normal policy and the balance owed to the lease company or finance company of a loan. In the early years of a lease or loan the vehicle value falls quicker that the value of the… Read More
If the automobile has full coverage it will be covered. However if there is only liability then there is no coverage.
Does having full coverage auto insurance in MI mean if my car is totaled and I wasn't at fault the car will be paid off?
Firstly, there is no such thing as full coverage auto insurance. This is just a term that developed over time to mean whether or not you wanted physical damage coverage on your vehicle or not. Secondly, if you have physical damage coverage this has nothing to do with what you owe on your vehicle. the physical damage section of an auto policy says that the insurance company has the option to repair, replace, or pay… Read More
Yes, minus your deductible.
Gap insurance is not primary insurance coverage. You would have to have comprehensive insurance on the vehicle first. After comprehensive coverage pays the actual cash value of the vehicle if it is a total loss, then GAP would pay any difference in the ACV and the balance of the loan on the vehicle. GAP will not take the place of comprehensive insurance in this case. As a matter of full disclosure, I own and operate… Read More
NO,, GAP Insurance is supposed to pay the difference between what your Auto Policy paid and any remaining portion of your loss after the Auto Insurance Policy has paid it's maximum. 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
yes full coverage insurance covers auto repairs. It also covers maintinance and gas costs. Thats right fuktard, full coverage insurance is the only expense you will incure while driving. In some cases they will even pay speeding tickets for you!
if u sold the car yes,if you totaled it the insurance should pay it off providing you had full coverage and not at fault
If you have full Coverage Auto Insurance, Then the Comprehensive and Collision portions of your coverage would pay for damages to your own car. If you just have liability insurance only. Then you just have coverage for the other car and there is no coverage for your own vehicle.
If you have full coverage insurance and have a car accident will the insurance company pay off your car if you still owe on the car?
If you're filing the claim through your own collision coverage, your car insurance will pay the actual cash value (ACV) minus your deductible at time of loss. This may not be enough to cover loan due to interest, negative equity, etc. You can look at buying gap coverage either through your finance company or your insurance company if this concerns you. The best available resource for determining your ACV is www.nada.com.
GAP coverage applies regardless of fault.
do I have to have full coverage if the title is in my name
When it is in to bad of shape to be werth the money it takes to pay the inc.
If you have full coverage on our car and you run over a dead deer will they pay for damages in Ohio?
no it's not counted as an accident.
Some policies automatically include a minimal amount of rental reimbursement coverage, but generally your policy includes no coverage for rental reimbursement if it is not listed with a premium on your declarations page.
If by Full Coverage, you mean you also purchased Physical Damage, aka damage or loss of your vehicle and the car was confirmed stolen, preferrably via police report, the company will typically pay Actual Cash Value for your car, less your deductible.
Sure. You are much better off to get GAP insurance from your insurance company than by buying it from the dealer. If you buy from the dealer you will pay lots of money for the insurance plus you pay for GAP insurance for the life of the loan in advance then pay interest on it as it is financed in your loan. GAP insurance is coverage for the difference in the actual cash value of… Read More
Yes, But only if there is a gap in the final loss payment by the underlying auto insurance policy. If there is no underlying Auto Insurance theft coverage then the Gap Policy is null and void and no coverage would ensue.
Is it possible to pay the difference for full coverage if motorcycle was stolen with just liability and still owe?
No. It would be insurance fraud to up to full coverage for a missing bike and then claim it was stolen. Quick ride to jail. Report it to police and you may recover it.
No The person who is at-fault is responsible for your damages. His insurance will pay for everything. Tow, rental, damages.
Will your full coverage auto insurance pay for your car if you where drinking and driving and had an accident?
They're pretty much obligated to do so, but recognize that you will probably be dropped from coverage as soon as they discover the DUI on your record.
If a car with personal liability and property damage parked at a restaurant is hit by car with full coverage who pays for the damage?
The car with coverage appears to be at fault and would therefore be liable to pay for the damage.
Snow fell down off your roof and damaged the hood of your car Will your full coverage auto insurance cover the cost of new hood?
Yes, comprehensive coverage should pay for incidents such as this.
GAP insurance may well be worthwhile. GAP insurance is additional car insurance, generally obtained from the dealer that sells the car, that covers the difference between what the insurer pays for a total loss of the car and what may be owing on the car loan. Normally, if a car suffers a total loss, the insurer will pay the actual cash value. This is the value of a vehicle of like, kind and quality, with… Read More
You'll need to read the policy and see. Sometimes you may have bought rental car coverage that will pay a set amount per day up to a maximum. Full coverage is a slang term used to describe a policy that offers comprehensive and collision coverage on a covered auto. Rental car and towing are usually additional coverages that you may or may not have. But even if you don't have that coverage, it may still… Read More
Unfortunately, no. What gap coverage does is pay the balance on your car loan if your car is totaled and the insurance payment is not enough to pay off the balance of your loan. Quite often our vehicles depreciate faster than we can pay them off. Insurance only pays the depreciated (blue book) value, so sometimes what you will get from your insusrance company doesn't pay off the loan.
Can you get insurance to pay for hit and run damage when you didn't get the license plate number and you are not at fault?
If you have full coverage, yes, minus your deductible.
Call your insurance agent.
It is known as a donut hole.
What is the penalty if you have a gap from time you purchase a car from a dealer until you obtain auto insurance?
Temporary Dealer Gap insurance is considered the same as having no insurance at all. Most companies don't recognize dealer gap insurance because they are only excess secondary coverage policies, No Liability coverage is generally included in them. Generally if you have a lapse of 30 days or more, or if you have had continuous coverage for less than 6 months, then you will pay 5 to 10 percent more on premium. Beware of GAP Insurance… Read More
When should you drop Full Coverage and just keep Liability on your 1993 Ford XLT Van that has only 29 500 miles on it?
The question you should ask yourself is, if your car gets damaged, will you fix it or just buy a new car? The Comp and Collision coverage on your vehicle helps pay for damage to your car. If you don't plan on fixing the car, or if you will fix it and pay out of your own pocket, then you don't need full coverage.
If you own a car outright and have paid off loans used to buy it, you are no longer required to have full coverage insurance for it. At this point, it a personal choice. If your car has worth that you cannot afford to lose in the case of an at-fault collision or theft. On the other hand, if the vehicle is older or not worth so much, it may not be worth it to… Read More