When a car is under lien and stolen/wrecked, the very first payee is ALWAYS the lienholder. You will receive nothing, and the lienholder gets reimbursed for the value of the car. Any outstanding would be your debt. Most insurers make deals with Lienholders to indemnify and lodge up the loan. Not always tho’. MAKE sure to ask the Insurance company how much was paid to lienholder, and ask for proof too!
How long will an insurance company provide a rental car and will they pay blue book or retail value on a totaled vehicle?
Insurance carriers vary on how long they will provide you with a rental during a total loss settlement. A good rule of thumb is three days after they make an suggest to you — whether you agree with the suggest or not. So, if you know your car is a total, and haven’t commenced looking for a fresh vehicle, now’s the time so that you avoid any problems. As for the value of your vehicle, the insurance company owes you the fair market value. This is essentially what a regular person would pay for the vehicle. It does NOT include the inflated costs and charges of a dealer. Even if you’re planning on buying your replacement car from a dealer, keep in mind that few of us walk onto a dealer lot and pay the dealer the sticker price. Some companies use valuation vendors — which come up with vehicle values — and others use the NADA book or Kelley Blue Book. Sometimes the vendor’s valuation will be the same amount as the retail value from the Blue Book; sometimes it won’t. If you don’t agree with the insurance carrier’s valuation of your car, you need to review — in detail –the condition of your car, its mileage, any refurbishments (like a fresh engine or transmission), etc with your claim representative. Those items can make a significant difference in the value of a car. You may also want to do your own research on the value of your car. It’s not enough to contact a dealer, who will simply look it up in a book. You should look at local newspaper ads or internet sites which list vehicles from your zip code. Keep in mind, too, that the insurance carrier will not pay what you owe on your loan, if your vehicle is worth less than your loan. Again, they owe the market value. If you’re upside down on your loan, contact your lienholder to discuss rolling over the remaining amount once your total loss is lodged. You may have to take out a private loan, or the lienholder may just add the remaining amount to your fresh car loan. If you shop wisely, you should end up about where you were prior to the loss.
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 harm or injuries to others.
If you have utter coverage and your vehicle get stolen and the insurance would pay the blue book value do you have to pay for the rest of the loan?
You are responsible for the difference in what the car is worth,(Insurance Payment) and the balance of the loan. Insist the insurance pay you the NADA retail value of the car, not the Blue Book value.
Do you have to keep up the payments on a car if the car has been stolen and the insurance company is being SLOW and you also have gap insurance?
You signed the loan papers and until the loan is paid in total you and you only are obligated to your creditor. If you don’t make the payments on time you will have your credit bruised.
Can you make your auto insurance pay you back for loan payments you made on a car they announced totaled?
Your insurance owes you the value of the vehicle minus your deductible. If you owed the bank more than this, you are responsible for the excess.
If you buy a car and insure it and it turns out it is a stolen vehicle should insurance pay for it?
You’re screwed .
This is one of the diciest situations that can happen to somebody purchasing a vehicle. Frequently, the last purchaser of the stolen vehicle is screwed. Hyper-technically speaking, you received stolen goods, which makes you a fence! But those cases are infrequently prosecuted, if the purchase was done in good faith on your part. But what will that get you except being car-less and thousands of dollars poorer? Not much..
You’re only recourse is through the civil courts. You’ll have to sue the party who sold you the vehicle. Hard if it’s a dealer; very hard if not unlikely if it’s a private individual. The insurance company is not required to pay you anything, because the car was not stolen from you and you were not the rightful proprietor to begin with.
Does auto insurance cover items stolen from your vehicle?
Does auto policy cover stolen items .
Many auto insurance policies will cover stolen items from your vehicle but only a very limited amount. For example, if you have your vehicle cracked into and your AM/FM/CD unit is stolen along with your case of 24 CDs, your policy will most likely cover the AM/FM/CD unit and only 1 or Two of the CDs. Each policy is different. It is best to call the agent who sold you the policy.
What is covered if your vehicle is stolen before you have your insurance inspection?
In this case, if the car is not recovered, the insurance company will take into consideration the book value of the vehicle, any modifications made such as rims, stereo equipment, and repairs made (WITH receipts only) and suggest you a settlement. Please keep in mind that this is non-negotiable considering they did not have the chance to inspect the vehicle. Speak to the adjuster asap.
How do you get another car loan or will you have to wait until the loan is closed if you have a loan on a car that was totaled and insurance and GAP insurance will pay the total loan balance?
Yes surely you can get another. I was having the same query so I searched for it on net and came across the site AutoFinance-EZ. Interest rates are determined by the actual lenders and are influenced by several factors, including the severity of credit problems, the amount of down payment, and the degree of credit risk. Your auto loan accomplished will explain these factors, and tell you exactly what your interest rate will be. .
If you are not sated by the deal you are getting for a 2nd loan on your car, attempt looking for a payday loan.
Will homeowner’s insurance cover a stolen car?
The elementary response is NO. Homeowners policies will specifically exclude any vehicle licensed or intended for road use. To get coverage you will need to have Comprehensive coverage on your auto insurance policy.
Does homeowners insurance have a dollar limit on what they pay for a stolen laptop?
Very first you have to determine if you even have burglary or theft coverage on your home owners Insurance Policy. Insurance policies will vary and some will have no coverage at all for a lost or stolen lap top. Whether you have Burglary or theft coverage depends on the type of policy you purchased. Coverage thresholds are specified on your policy declarations page. Each Insurer will detail on the policy it’s coverage thresholds for various types of losses and you will find extra definitions for more detailed information with your policy package.
Would one be required to pay off a note on a stolen vehicle when they had utter coverage insurance as well as Gap coverage?
this question has dual legalities each reasonable in it’s jurisdiction. Firstly, the act of vehicle misuse by the act of theft is not covered by any insurance clause i.e, non gave permission for the vehicle to be misused. It only gave protection for remuneration/indemnification should the vehicle is stolen to the holder or to a third party on the event of an accident . secondly, ways of discouraging theft acts is enterly an issue for the police pursuant to the local laws and has nothing to do with insurance cover policy. However, note that these answers are only for situations where the vehicle possessor is not the thief but another caught by the police and is being cahrged to pay a bill or two. As for the possessor of the vehicle, who as at the time of recovery of vehicle must have pre-reported it’s theft to the police and obtained a statement which is forwarded to the insurance rock hard. where this is the case then, there is not need to be surcharged for the stolen vehicle now recovered. since it is assumed a utter premium has been paid for the policy cover against such event occurring.( You may take out the insurance policy document( proposal form ) for that risk cover and re-read the little prints again to be more sure of your rights against such surcharge. -lawstudent-
What blue book value is used to find how much an insurance company has to pay when a vehicle is totaled trade-in retail or private party?
Blue Book, which is actually an Orange Book, Is not used to determine value by Insurers. It can be used as guide only. Insurers determine value based on the Market.. Meaning they use market value or Actual cash value to determine a vehicles value. This is the average cost it would be to buy the same or similar vehicle.
Does gap insurance cover the remainder of a loan from a voluntary reposession of a vehicle?
Gap insurance does not cover repossession anything. It only covers if you wreck the car and owe more than it is worth.
Your car is a total loss and pay off is about half of the amount of your loan you carried some from a prior car will your GAP insurance cover the majority or all of the remaining balance of the loan?
You will need to read your GAP insurance information. Like car insurance each plan is different. Some GAP insurance plans state they will pay 100% of the “resale” value. Others state 125% (meaning the current resale value of your car plus 25% above that). Others state 100% of “trade-in” value..
Bottom line – read the insurance plan document you got from the company, or visit the car dealership you bought the car from and pick up a pamphlet..
Good luck to you!
If a car is stolen does libality cover the insurance?
No. Liability insurance only covers harm you do to someone else’s property. What you are liable for.
How much does the insurance pay you would you be able to substitute your car that was stolen?
If you have utter coverage they will pay for it. They will pay you what they feel the car was worth and NOT the KBB…i know this, cause the good people at State Farm felt my car was worth a good 3500 less than the KBB and paid me that.
Your car was stolen with only liability insurance will the insurance pay?
Sorry. I feel for you. But you are screwed. I had a 1995 Acura Legend stolen and only had liability on it (I dropped total coverage two months prior). It is without a doubt NOT covered.
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 Ten,000 but your car is truly only worth 8,000 then you will be stuck paying the extra Two,000 (unless you purchased gap insurance from the loan company)
Does auto insurance cover the cost of a stolen GPS?
No, most will not unless you have extra coverage for accessories. However, if you have a GPS system that includes anti-theft features such as the Millennium Plus available fromwww.findvehicle.net .
There are 11 states that require insurance discounts if you have it installed in your vehicle, in addition to the fact you could locate, track and disable your vehicle should it be stolen. Moreover, the Millennium Plus will pay you up to one thousand dollars if your vehicle is stolen and not recovered while using this system.
Coverage on auto insurance when you have a car loan?
Yes, you should get auto insurance coverage when you have a car loan, and even when you don’t have a car loan. The law requires it either way anytime a motor vehicle is operated on public roads..
Do insurance companies pay for replacement value or actual value when a vehicle is stolen?
Insurance companies ONLY pay for Replacement value when you have paid for an extra endorsement to insure your car for its “replacement” value. Otherwise, they pay Actual Cash Value, using blue books, fair market prices, your car’s condition, i.e miles, etc, all of it is a factor to determine actual cash value, etc.
Will gap insurance pay off the balance of your loan if your vehicle is totaled?
In California it is normally necessary for you to presently have comprehensive and collision coverage in place at the time of the accident for your gap insurance to take effect.
I had a deferred payment and my car was stolen and never recovered. Will my utter coverage or gap insurance cover the deferred payment?
Most gap insurance policies do not cover deferred payments. NOTE -do not accept an suggest to lodge on the deferred payments. This mayreflect on your credit bureau that the debt was lodged for lessthan the ballance in utter.
Does liability insurance cover a stolen car?
Liability Insurance and the Stolen VehicleNo, Liability Insurance provides coverage for damages or injuriesthat we cause to others. It does not provide coverage for our ownvehicle damages or theft.
No auto insurance but do have gap insurance?
So called gap insurance covers only the difference inbetween thevalue of your vehicle and what you owe to the bank. It offers noother protections such as individual injury & liability, orcollision.
If someone who has auto liability insurance borrows your car and wrecks it, would your vehicle loss be covered?
Generally speaking, the individual auto liability coverage goes after the car, not the driver. The driver had your permission which in legal terms, means you agree and accept there may be consequences.
If a car is stolen and you have insurance but the vehicle is in someone elses name will it be covered?
Theft is not the same as accidents. If you drive a car, whether it is in your name or someone else’s name, and you have an accident, then your own insurance is applicable, but if someone else’s car is stolen, that doesn’t seem to involve you. Presumably you were not in the car when it was stolen, right? What involvement do you have?
Can a bank request payment in utter on an auto loan if the vehicle was repossessed for no insurance?
Yes. A bank repossesses a vehicle for nonpayment. If your vehicle was taken for being on a public roadway and not having insurance, it was impounded. When a vehicle is impounded, a lien is placed on it by the agency which ordered the impound. The interests of government agencies override those of the bank, and they can sell your vehicle to recoup impound costs if you do not reclaim it within a specified period of time. In this case, the bank receives nothing from the sale, and you still owe the bank the remaining balance.
If car insurance payments taken out monthly are you paying in advance for the insurance cover?
Yes, you are most likely paying for the next 30 days. This does nottake into account any switches that you make during the policyperiod. If you make a switch that produces an increase in thepremium, often times the company will divide this out among futurepayments so that you are not made to pay the endorsement (switch)charge in one lump.
Gap insurance is from the auto loan or your insurance on the car?
GAP (ensured asset protection) auto insurance coverage is one the most necessary, yet least understood insurance products available to vehicle owners. It is generally purchased through the auto dealership or leasing company at the time of the initial purchase or lease. It’s purpose is elementary: If your car is totaled, gap insurance will cover the difference inbetween what your insurance company says your car is worth (actual cash value) and what you still owe on your loan or lease.
Does gap insurance cover if your behind on car payments?
Unluckily, 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. Fairly often our vehicles depreciate quicker 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.
Does auto insurance cover stolen cars?
Auto insurance will cover the theft of your vehicle if you maintain comprehensive coverage. Comprehensive coverage is generally sold in conjunction with collision coverage. However, unless there exists a lender that requires collision/comprehensive coverage, it is usually not mandated by law as it is considered “first-party” coverage (designed to protect the holder only). Comprehensive coverage also applies to the theft of belongings in the vehicle if they were permanently affixed to the vehicle. For example, if you have an after- market stereo system and sub-woofer that is stolen from your vehicle, it is covered under comprehensive coverage. However, if you leave your purse in the car and it is stolen, it is not covered because it is not permanently affixed to the vehicle.
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.
Car totaled insurance value car at 16000 and loan amt is 12400 can you use your gap insurance to pay off car loan?
If they gave you 16000 on the car, you would not need gap insurance since your loan amount is 12400.
What does gap auto insurance cover?
Physical harm coverage on an auto policy says that the insurance company has the option of paying to repair, substitute, or pay the actual cash value of the vehicle. In the case where the harm to a vehicle’s cost to repair is more than the ACV of the vehicle the vehicle is totalled and the company will pay the ACV of the vehicle. Sometimes when you buy a fresh vehicle without much or any downpayment you quickly get “upside down” in the loan. As the value of the car depreciates, the loan balance doesn’t fall almost as swift. For the very first duo of years you owe more than the value of the vehicle. The insurance company has nothing to do with auto loan. GAP insurance was created to cover the difference in the ACV of the vehicle and the loan payoff. You can buy GAP insurance from the finance company or bank that financed the vehicle or from your insurance company. Purchasing from the insurance is much less expensive and you can drop the coverage once the loan balance falls below the value of the vehicle.
Does auto insurance cover stolen vehicles during bankruptcy?
Of course, Unless you stopped paying your premiums and were cancelled. A bankruptcy has no bearing on your auto insurance coverage. That being said, A Theft, Vandalism or Mysterious Disappearance claim during a bankruptcy could look suspicious and would likely be more closely investigated by the insurance company just to make sure their is no Felony Insurance Fraud going on. Insurance Fraud can be punishable by up to 20 years in prison in most jurisdictions and tends to be more prevalent during divorces and bankruptcies. Insurance companies are aware of the greatly enlargened statistics during troubling financial times and therefore must be vigilant in protecting their customers rates against potential fraud.
Will your auto insurance cover you if the vehicle you are driving has no insurance?
Umm… No… If your car has no insurance then then it doesn’t have anyone to cover it… That’s why you need insurance…
Can you get insurance after your car is stolen and it be covered?
If you attempt to get theft insurance after the car is stolen you will go to Jail! The insurance companies have no sense of humour about FRAUD! Penalty for Insurance Fraud in the U.S. is up to 20 years in prison.
Will your auto insurance cover you in your non covered vehicle?
No. Since you said it was “non covered”. that would indicate that you have no coverage for that vehicle.
Does homeowners insurance cover stolen uninsured vehicle?
It depends, You do no mention what type of vehicle. Homeowners insurance polices will not cover harm or theft of a motor vehicle designed for use on public roads.
Does homeowners insurance cover a stolen uninsured vehicle?
No. Homeowners insurance specifically excludes all coverage for any 4-wheeled self propelled vehicle with few named exceptions like a lawn mower. The only coverage that would cover this loss is if you have an auto policy with physical harm coverage on the policy.
Does your auto insurance pay if you vandalize a vehicle?
If you are asking whether your own insurer will pay damages to the holder of a vehicle that you vandalize, the response is No. This is because insurance does not provide benefits for intentional acts. Instead, it applies to negligent (careless) acts. If you are asking whether auto insurance may pay for the repair of your car if it was vandalized by someone else, it may. An insurance called “comprehensive” coverage, that is usually sold in conjunction with collision coverage, will usually pay damages resulting from vandalism.
Does liability insurance cover your vehicle if it is stolen and wrecked?
In an at fault loss, liability covers injuries sustained by the claimant (the person for whose injuries you are responsible) example: you rear end the car in front of you.. If that person has PIP coverage, that coverage is primary. Once it has been weakened, your liability coverage will pay for any amount above the PIP coverage UP TO YOUR POLICY LIMIT once that has been weakened, you may be sued personally for the excess amount Your car will be covered only if you chose to purchase Collision coverage. If you have a lien on your car, the bank will require this coverage. If not, the coverage can be purchased at your option. This is why it is very significant that you review these coverages with your carrier to be sure your coverage is adequate. It is imperative that you understand the definition of “Utter Coverage” in your state. It does not mean you have what you need to be adequately protected.
Do you have to proceed paying your insurance if your car is stolen?
No, as long as you have let your insurance company know they car is stolen.
What are the thresholds covered by car insurance?
There are all different types of coverage for an auto policy as well as different thresholds of coverage. Some thresholds and types of coverage are required by law and other amounts and types of coverages are up to the individual proprietor of the policy.
Does your liability auto insurance cover you in a loaned vehicle?
No. Liability insurance goes after the vehicle so the person who possesses the vehicle you are borrowing needs to make sure that they have insurance and also needs to add you as a driver on his or her policy. You also need to make sure that this is done because if you drive the vehicle and get stopped you will get the ticket for driving without insurance. If you have an accident and are not added as a driver his or her insurance company may deny the coverage for material misrepresentation and guess who will be sued by the person you hit? Both of you will be sued and both will be responsible. Insurance companies to do not like vehicles to be loaned to unknown drivers.
Does gap insurance cover a vehicle that’s insured when in accident?
No, you are misstating what GAP coverage is. GAP insurance is a separate type of insurance that you can purchase as part of your finance agreement or on your individual auto insurance. What GAP does is pay the difference in what your insurance company pays and what is actually owed on the finance account for the vehicle. This is especially significant when a vehicle is newer. An auto insurance policy pays either the cost of repair, replacement of the vehicle, or actual cash value of the vehicle at the insurance companies option. If the vehicle is totaled they pay ACV which on a fairly fresh vehicle is less than the purchase price. Purchasing GAP insurance is usually far less expensive when purchased from your insurance company than the finance company.
Will auto shop liability insurance pay for implements if stolen?
A Garage policy can have many different kinds of coverage added to the policy. You can certainly add coverage for contraptions and equipment to be covered under the policy.
Do colleges have insurance to cover stolen vehicles on their campus?
A campus would not be liable if a vehicle is stolen so they do nothave coverage for this.