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How much does the insurance company owe you for your totaled car?

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2006-01-24 17:01:36
2006-01-24 17:01:36

The fair market value for your car at the time before you got into the accident. It may not be enough to replace your car, if you have GAP insurance through your bank, then it should cover the cost of replacing the vehicle.

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Related Questions


The insurance company will pay you the worth of your car minus your deductible.

The insurance company. They have in theory bought the car or what was left of it.

The insurance company will pay the finance company not you.

It would depend on why the car was totaled and who's fault the accident was and what time of insurance do you have PLPD or Full Coverage

That depends on what the car is and how much the insurance values it at.

The insurance company tells you. The way they figure this out is by comparing the cost of repairs to the value of the car. If the cost is the same, or greater, the car is totaled.

most time if the car was in an accident and is totaled you will have to by it back from your insurance company

Yes, if your insurance company will not pay it all.

The insurance company will make you an offer.

Legally, if the company pays you for the totaled vehicle, it belongs to them. You can offer (if they don't) to by the scraps back. This would be deducted from your settlement and you would be paid the difference.

Hi, It depends on what type of insurance you had. Liability, full coverage...etc...Call your insurance company and find out.

I totaled my Mustang and was able to buy it back from the insurance company. They gave me the Blue-Book value less my $500 deductable. They would not insure it after I repaired it, I had to switch insurance carriers to get coverage.

In some cases you can buy your car back from the insurance company or from the scrapyard if the vehicle is totaled. You will need to check your insurance policy to see what type of stance they take on this purchase.

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 damage), but not collision or comprehensive unless you have the repairs made.

Typically you need a car with insurance to get a title loan. If your car is totaled, the loan company are entitled to that money since they hold the title for your car.

This depends on what the settlement covers I have required the insurance company to allow 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.

You should check with your insurance company. If you still have a policy open for the car the premium is still due. But I'm not sure why you'd have a policy if the insurance company said the car was totalled

you will have to pay a debt and GET CAR INSURANCE

Whomever the car is titled to. You will have to sign the title over to the insurance company since they essentially bought the wrecked car from you.

If you have the proper insurance or you were hit by someone you will surrender the car and the title to the insurance company and they will pay you the actual cash value of the car before it was hit.

You cannot insure a vehicle that is not titled in your name. If you did and the car was totaled the insurance company would not pay you because you are not the owner of the car and they cannot pay the true owner because they do not have a legal contract of insurance with the company.

Yes, they will help, but they won't buy you a new car. Once your car is deemed totaled, the insurance company will usually pay you the value of the car before the accident minus your deductible. You can either buy back the totaled car and repair it or use the money towards a new car.

What is Illinois gap car insurance? Is insurance you can purchase to cover the gap between the cost of repaying your car loan and the amount the insurance company will actually give you for your totaled car.

If another person was at fault for the accident, you will need to go after their insurance company. If you are liability only, your insurance company will not pay for anything.


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