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Answered 2005-10-07 02:14:20
This is not an uncommon occurrence. You might be stuck with a loan balance on a car that you can't drive. The next time you finance a car with little or no down payment you might consider getting "gap" insurance to cover the difference between the vehicles "actual cash value" and the amount you owe on it. This is an especially big problem when dealers offer to "pay off your trade no matter what you owe" when buying a new car from them. You can try to make your case by getting evidence that the car was really worth more than what the insurance company is offering or you can get a lawyer. Good luck.
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What are your options on a totaled 2005 financed car that had no insurance coverage?
You have no options! Should have got insurance There are none. You have the joy of paying off a car you no longer have. Best thing to do is try and sell it for parts.
What does the lender do when a financed car is totaled and there is no insurance?
Sue the owner of the car, since the owner was likely required to carry insurance as part of the financing deal.
If your car has been totaled what are your options while waiting for the other drivers insurance company to handle the situation?
you can go ahead and contact the other drivers insurance company and determine the status of the claim.
What happens if you have no insurance and you totaled your car?
you will have to pay a debt and GET CAR INSURANCE
What is the definition of totaled?
used of automobiles; completely demolished; "the insurance adjuster declared the automobile totaled"
What is a sentence for totaled?
I was most relieved to find out that my insurance company agreed with my statement that it had been totaled. I came out ahead when my expenses were totaled up.
How do you determine if vehicle is totaled when burned?
A vehicle is totaled if it cost too much to repair it. Usually, insurance companies determine whether or not a vehicle is totaled.
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 between 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 additional coverage that covers the balance of the loan between the ACV and remaining Balance.
Is it legal for your insurance company to deny a loss for a car that was totaled?
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
What happens to a totaled car after the insurance co pays you for it?
Some insurance companies will sell the car back to the owner. Others sell the totaled car to a salvage yard.
Why would an insurance company declare a vehicle totaled?
An insurance company declares a vehicle totaled when the cost to fix the vehicle exceeds 70% or more of its market value.
What is the difference between full coverage auto insurance and liability only insurance?
Full coverage auto insurance covers everything. If the car is totaled they will will replace it. Liability auto insurance will only cover medical bills, and not the car if it is totaled.
If your loaner car was totaled and you do not have insurance what should you do?
get a good job............you will (assuming you are at fault for this loss) be require to pay for the totaled vehicle.........
If you totaled your car while drinking will your insurance still cover it?
No, they will not.
What makes a motorcycle totaled?
When a vehicle covered by insurance gets wrecked, the insurance company looks at how much it will cost to repair. If repairing the bike costs more than it is worth, then the insurance company declares it totaled and pays for a replacement.
Your car was recently totaled by insurance company can you buy it back from the insurance company?
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.
Do you ever get a rebate from your gap insurance if it wasn't used and your car was totaled?
No.
CAN you BUY MY Car back after its totaled?
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.
My car was totaled. it already has a salvaged title. what will the insurance pay?
It depends on many aspects, however since it already has a salvaged total it will be significantly lessened than if it didn't already have a salvaged title. Your insurance company should be able to give you specifics as to why they are offering what they do.
How do you know how to get cash value when your car is totaled?
The insurance company will make you an offer.
What percent does foremost insurance use to determine if a motorcycle is totaled?
70% of the value
How much doesit cost to buy your totaled bike back from insurance?
be quiet
After settling with the insurance company for a totaled car do you keep the car or does the insurance compnay?
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.
What is full coverage auto insurance requirements in California?
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 your car is declared totaled does the car belong to the owner or the insurance company?
The insurance company. They have in theory bought the car or what was left of it.
