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Your finance car was stolen does your insurance claim go to your finance company to pay off the cars debt?
The monies from the insurance company will go towards the car payoff. Now, the insurance company is entitled to pay off the worth of the car. If the car is worth less than you owe, you may have to pay back the rest. For Example, say you owe $20,000.00 on a certain vehicle. The Blue Book(www.kelleybluebook.com) value of this vehicle is $18,000.00. If they pay full value of the vehicle $18,000.00 you may still owe the rest $2000.00 to the loan of the vehicle. This means you were upside down on the loan...
What else can I help you with?
What to do if something is stolen that you still owe on?
Notify your insurance company and file a claim. Failing this, you will pay the balance owed on the loan. The property that secured the loan, that which was stolen, only acts as security for the lender.
Have you received your home insurance claim check from the mortgage company yet?
No, I have not received the home insurance claim check from the mortgage company yet.
Who benefits from a mortgage insurance claim?
The real beneficiary from a mortgage insurance claim is ultimately the insurance company that provided you with the mortgage insurance in the first place.
How can I ensure that my mortgage company releases the insurance proceeds for my claim?
To ensure your mortgage company releases the insurance proceeds for your claim, you should promptly provide all necessary documentation and information related to the claim. Communicate effectively with your mortgage company and the insurance company to facilitate the process. It is important to follow up regularly and stay informed about the progress of your claim.
What is the difference between a rejected claim and a denied claim in the context of insurance coverage?
A rejected claim is when the insurance company determines that the claim does not meet the policy requirements from the start, so it is not processed at all. A denied claim is when the insurance company processes the claim but decides not to pay for it, usually due to not meeting specific coverage criteria.
How does homeowners insurance work when stolen items are recovered?
Once the insurance company has paid the claim for stolen items they become the legal owners of the items.
What is an insurance recovery car?
Stolen car that claim was paid off by the insurance company. The car was later recovered. Because the claim was already paid the car is owned by the insurance company and they will typically sale these at auction.
Can the insurance company deny your claim for stolen vehicle if the car payments are behind?
No, that wouldn't be a reason for claim denial. It may be a reason for them to investigate you for insurance fraud.
Will the insurance company accept your claim on a vehicle that is stolen if your late on your car payments?
They will accept almost any claim, paying it is another matter.
If a vehicle is stolen and is only covered by PLPD will the insurance company pay for the loss?
You must have comprehensive coverage in order to recover on a claim from your insurance company if your vehicle is stolen. Liability only is just that, liability for your legal liability for damage or injuries to others.
What effect does a claim has on insurance company?
A claim is a liability on part of the insurance company. If a customer makes a claim it means that the insurance company has to pay the customer for the amount is eligible to claim and hence it is a expenditure on the balance sheets of the insurance company.
Can you cancel stolen car insurance claim?
You can't just cancel a claim. It is basically up to the Insurance co. to either aprove a claim or deny it. However, it the vehicle was stolen, it is your resposibility to provide a police report proving that the vehicle was indeed stolen.
What if the delay in filing an insurance claim is the fault of the insurance company?
That's not very likely. The insurance company does not file your claim, they accept your claim notice from you. You have to file your claim with the company, not the other way around.
Will you be covered by the insurance company if you leave the keys inside the car and it gets stolen?
Will be very hard to make a claim under those circumstances
What do you do when your insurance company denies your stolen car claim and drops you?
If they denied that claim for cause, such as fraud, then there is nothing you can do. If they did not have cause, you can try contacting the department of insurance in your state. That is of course, as long as you had comphrensive coverage on the policy. If you did not have coverage, they do not have to pay for anything.
What to do if something is stolen that you still owe on?
Notify your insurance company and file a claim. Failing this, you will pay the balance owed on the loan. The property that secured the loan, that which was stolen, only acts as security for the lender.
Can I be sued for a bad faith insurance claim?
Usually in a bad faith insurance claim the insurance company is in the wrong. A bad faith claim is when an insurance company fails to pay out what was promised on the claim. More than likely you could sue the insurance company and have a chance at winning your case.
