0
Yes and no. In order to recover a GAP claim you would most likely have to provide proof of a claim to the dealer. However, you won't receive any money for the simple fact that the insurance paid for the total loss and all GAP really does is cover any balance left over. For example, if your car's worth 15,000 but you owe 18,000, also known as being upside down in a loan, the insurance will only pay up to the market value of the car. So you're stuck with the remaining 3,000 dollars. GAP will pay the 3,000 if you have it. The reason for this is that whether a car's running or not, totaled or not, you signed that loan contract promising to repay it and unfortunately these contracts ARE legally binding (if they weren't dealerships would be out of business) so the loan does have to repaid one way or the other. It sucks, especially when you total a car or someone totals yours, and even though GAP may have kicked in, you will get zero money unless you somehow get other funds paid to you by the claim. Look on the bright side, you won't be stuck with a loan balance on a car you can no longer drive either. To keep your cars value up is simple. Don't crash it obviously, keep up on the maintenance, take care of the inside and outside by cleaning and washing it, if you happen to suffer a minor dent or scratch get it removed. Also, try to own a car that's commonly bought and usually retains good residual value. This means when you buy a car and by the time you finish with it, you can get a decent price for it when you finally sell it.
Add your answer:
Earn +20 pts
You had no insurance and an uninsured driver hit you so now what should you do Will gap insurance cover?
I'm sorry to say that you are going to pay out of pocket for the damage to your car or try to sue the uninsured driver that hit you for the money. Gap insurance only covers the difference between what you owe on the car and what your insurance paid you when your car was totalled. Since you don't have any insurance your gap coverage is useless. Furthermore if the car wasn't totalled in the accident then gap insurance wouldn't come into play regardless.
Can you use uninsured car insurance towards your car if you don't carry collision?
An Uninsured car has no insurance. Your liability coverage may follow you to it if it is a replacement vehicle but would not cover damage to the uninsured vehicle.
Will insurance cover my car damage if I loaned my car to an unlicensed and uninsured driver?
My insurance canceled uninsured person hits someone in rear what happens to me
Does GAP Insurance cover uninsured vehicles in a wreck?
How can you have GAP insurance on an uninsured car? You have to have a basic policy to add this. actually the terms of my GAP insurance stipulate coverage of a total loss even without primary coverage. that surprised me, but it states "if there is no primary insurance at the time of loss, actual cash value shall mean the retail value of the vehicle...". this raises some interesting issues about not carrying collision, but as GAP only covers the difference between book value and loan balance under the condition of a total, and in NJ at least, to have a car loan you must carry collision, the point seems rather moot. maybe other states don't require collision with a car loan [but I doubt it]...in any event, GAP wouldn't cover anything less than a total loss. A little twist to your question. What is the answer to the following question. Does GAP Insurance cover insured vehicles (comprehensive) in a total wreck, when the claim is denied?
Does progressive insurance cover if an uninsured driver gets in an accident in an insured car?
Yes they should. Did you carry uninsured motorist? The only issue is if your car had a driver that did not have a license or was living in your home and you did not tell them about this person.
If a uninsured motorist hits your car will sr22 cover your damages?
If you purchased uninsured motorists coverage with your policy you will be covered. The SR22 is not insurance, it's certificate of proof that you have insurance.
What does gap cover?
GAP insurance will pay the difference between what your car is worth and what is owed on the loan.
What does gap insurance cover?
Gap coverage is intended to cover the difference between what the car is worth and what is owed on the car. So if you owe 15,000 on a vehicle that has a value of 12,000, you should be covered.
Does uninsured auto insurance cover property damage?
If you are uninsured then of course not.
Will uninsured motorist cover damages caused if the other vehicle is stolen?
Uninsured will not cover this type of accident. Your comprehensive will cover this type of damage.
What does Gap insurance use for in Illinois?
What is Illinois gap car insurance? Is insurance you can purchase to cover the gap between the cost of repaying your car loan and the amount the insurance company will actually give you for your totaled car.
If someone dented your car in a parking lot then left would your uninsured motorist insurance cover the damages?
no, uninsured motorist coverage is for injuries only when an uninsured motorist hurts the occupants of a vehicle......there is a coverage called uninsured motorist property damage, (most people do not have this and are even unaware that it is available, and is not available in all state) if you have that or collision coverage those will cover the damage to your vehicle ........
