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If your insurance company does not want to give you Fair Market Value for your totaled car is there anything you can do to make them pay FMV?
Insurance companies will not give you the book value for a vehicle, the will give you the market value. Which means they search the classifieds for the lowest value of the vehicle and discount it again in an effort to give you their lowest price.
Sue the driver of the vehicle,this will put pressure on the insurance company to come to an agreement with you. You can also contact the insurance bureau in your state, although I will admit it's very time consuming,you will get results.
What else can I help you with?
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.
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 between the market value and the loan value.
How much does the insurance company owe you for your totaled car?
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.
What is the market cap for American National Insurance Company ANAT?
As of July 2014, the market cap for American National Insurance Company (ANAT) is $3,005,874,178.72.
How is a totaled vehicle appraissed in Michigan by an auto insurance company. I was told Kelly Blue Book?
The Market Value determines your vehicle value, Not blue or any other vehicle valuation book, these books are only used as a benchmark guide.
Does state farm insurance use the trade in value or the retail value of a car to determine the value of a car if totaled?
They use a market value guide.
What is the market cap for China Life Insurance Company Limited LFC?
As of July 2014, the market cap for China Life Insurance Company Limited (LFC) is $79,989,115,121.70.
What is the market cap for Kansas City Life Insurance Company KCLI?
As of July 2014, the market cap for Kansas City Life Insurance Company (KCLI) is $492,455,656.80.
What is the market cap for National Western Life Insurance Company NWLI?
As of July 2014, the market cap for National Western Life Insurance Company (NWLI) is $912,289,667.35.
After you've signed the papers at an auto dealership and driven the car off the lot the finance company wont cover you for the loan and the car gets totaled and its insured who pays for the vehicle?
Next time you post a question, read it over before hitting "save" (your question is a little hard to understand). Once you sign the papers for the car, it is yours. If you get in a car accident and the car gets totaled, the insurance company for the at fault driver is responsible to pay for the "fair market value" of the car. If you are at fault and you have collision, your insurance company will pay you fair market value less the deductable. Please be aware, if your loan was for 10,000 but your car is really only worth 8,000 then you will be stuck paying the extra 2,000 (unless you purchased gap insurance from the loan company)
What services does Progressive offer in the auto insurance market?
The company Progressive offers all kinds of services in the auto insurance market, like auto insurance and motorcycle insurance. The company also offers commercial autos, homeowner insurance and boat insurances.
Car totaled in wreak you were not at fault how much will you get for your car?
If it cannot be repaired or not worth it to do so, the insurance company will pay the value of the car and depending on the current market value of the vehicle. If you owe money on the car the lender will be paid off first and you may get the remainder.
