Does full coverage auto insurance pay off a lien?

Answer 1

The insurer is required to compensate you at Fair Market Vallue. This usually will pay off any remaining financed note unless you greatly overpaid for your vehicle. There are times when you can owe more on the vehicle than an insurer is willing to pay. Bare in mind that it is not the fault of the Insurer if a consumer makes a vehicle purchase agreement in an amount greater than the actual vehicle value.