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Yes. Its called the gap. Get Gap insurance.
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∙ 15y ago
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What type of insurance will pay for damage to your car or to replace your car if it is declared to be a total loss?
collision coverage
Does an insurance company have to pay your taxes when your car is a total loss?
No. That would still be your responsibility.
Do you still have to pay lien holder if car is a total loss?
Yes unless your insurance covers it.
Will insurance cover a rental car for me if my car is totaled?
When renting a car it has basic insurance , whereby you pay an excess depending on the company depends on how much your excess will be. You do not pay for the total damage to vehicle. You have the option to take out CDW (Collision Damage Waver) where you pay a little extra again price depends on company. If there is then even a broken mirror , you pay Nothing
Does an insurer have to pay you the value of the wreck recovery if a car is a total loss and under insured?
They will only pay up to the limit on the policy.
If a car is considered a total loss after an accident and the insurance company pays you for what the car is worth do you still have coverage on that vehicle if you contnue to drive it?
Usually if the car is a total loss, the insurance company will pay you and take the car. They then sell it for parts/salvage. If they let you keep the car, all you have to do is check on the current status of your policy and see if it is listed.
What does compulsory excess mean on car insurance?
How much you have to pay if you make a claim on your insurance i.e if your car costs £750 to repair and your excess is £250 the insurance company will only pay £500
How do you get a car loan with an open bankruptcy a total loss car and no co-signer?
go to a buy here pay here car lot with a nice down payment you will get a car. BUT ask your trustee for permission.
What is meant by an excess on an insurance claim in terms of comprehensive car insurance?
The excess is what the policy holder has to pay before the insurance company starts to pay. If excess is $100 Damage is $300 the policy holder gets $200.
If your car is declared a total loss how much will the insurance company pay back to you if the car was purchased below book value?
Regardless of what you paid for the vehicle, in most cases,if your vehicle is deemed a total loss, you will be paid the local market value of your vehicle. If you happened to purchase your vehicle for less than that, you lucked out:)
If you have a car insurance excess of 500 does that mean you pay for the first 500 or that you pay 500 regardless?
the excess is how much you pay, anything over that is paid by the insurance company. So for a 1000 pound billyou would pay 500 and they would pay 500
What authority does the insurance comp have to determine a car is a total loss just because the cost to fix the car is more than they want to pay doesn't mean the car is a total loss and can't be repa?
If you read the 'small print' in your agreement you will very likely find you have granted them this authority. - In many cases, you can negotiate with them and get a payment, but keep the remains of the vehicle.
