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Will gap coverage cover a totaled vehicle if the insurance company denies the claim?
Wiki User
∙ 16y ago
No because GAP covers any GAP between what you owe on the car and the cars actual market value if the should your loan balance happen to exceed what your car is actually worth. If you owe $16,000 on a car but you owe 18,000, GAP would kick in and pay the remaining 2,000. You would still end up with zero dollars, but you also don't have to worry about paying off a loan on a car you no longer own.
Wiki User
∙ 16y ago
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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.
Does an auto insurance company have to pay for a deaf interpreter to find a new vehicle after yours has been totaled?
What. Why would you think this is required? An insurance company will not find you a new vehicle is your is totaled, they will pay you the actual cash value of the vehicle you had.
How do you declare the title of a vehicle you own as salvage?
can be done by insurance company at time it is totaled out by them
What happens in California when a insured car with full coverage hits an uninsured car and totaled it?
There's a good chance the insurance company will deny the claim of the person with the uninsured vehicle, as that vehicle isn't supposed to be on the roadway to begin with.
What makes a motorcycled 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.
How do you get a car after your vehicle is damaged?
most time if the car was in an accident and is totaled you will have to by it back from your insurance company
Can your employer ask for your vehicle insurance to drive their vehicle?
Your personal auto coverage will not cover their vehicles. What they are probably asking for is to make sure you have coverage in case you drive your vehicle on errands or such for the company. If you go to the post office to get the company mail your personal auto insurance will be the primary insurance and then if they have an endorsement to their insurance called "hired and non-owned auto" it will provide secondary coverage over and above your coverage to protect them in case of an accident. Their coverage insists that you as the employee have primary insurance on your vehicle. Also note that the company insurance will not pay for damage to your vehicle.
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.
Does having full coverage auto insurance in MI mean if my car is totaled and I wasn't at fault the car will be paid off?
Firstly, there is no such thing as full coverage auto insurance. This is just a term that developed over time to mean whether or not you wanted physical damage coverage on your vehicle or not. Secondly, if you have physical damage coverage this has nothing to do with what you owe on your vehicle. the physical damage section of an auto policy says that the insurance company has the option to repair, replace, or pay the actual cash value of your vehicle. I suggest if you purchase a new vehicle to consult your agent about GAP coverage which will pay the difference between the ACV of your vehicle and the amount owed. Never purchase this from the dealer and it will cost you several times what you can get it from your insurance company for.
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.
Is a car totaled when it has rolled?
It just depends on whether or not the insurance company considers the vehicle worth repairing or not.
Who owns the salvage in an auto accident?
Either the cars owner or the insurance company who paid for the totaled vehicle
