Car Insurance - how does it work in this situation?
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Car Insurance - how does it work in this situation?
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Hi, i was recently deemed at fault of an accident by the police report. I have never had any problems until now driving, and was wondering, how does this work for me? Because i was at fault, even tho my car is totaled and the other car is only dented because they were speeding, do i still get money for a new car based on the worth of my other car? Thnks
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mbrcatz
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Police reports do NOT determine fault - they only offer non-binding suggestions.
If you have collision coverage on your policy, your insurance company will pay you and any lender (if applicable) the actual cash value of your car, less your deductible.
If you have no collision coverage, well, you have no coverage. So no one gives you any money. |
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havetowait
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I agree with Nate, unless you have collision(full coverage) your vehicle is not covered for the accident. Because you were at fault liability insurance will pay for damages you caused to the other driver's vehicle. |
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moomootruck
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u get the current value of the car depreciated value not new car price |
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TedEx
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Are you suggesting you get enough to buy a new car just because the damage to the other car was slight? No, it never did work that way.
You do not profit from an ins claim. |
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oklatom
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You will turn in the accident to your insurance company, who will investigate the accident. The police merely make a report, they do not assign or deem fault. Once a determination has been made, if you are not at fault you will be compensated for your loss. If you are at fault your insurance will compensate the other party for their loss. If you have collision coverage you will be compensated for your loss, less the amount you chose for deductible. |
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healthy
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IMHO, one of the best Free Car Insurance Quotes site (US Only) is:
http://FreeCarInsuranceQuotes.shmyl.com/ay7839 |
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CwboyBill
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In the U.S. your liability coverage will pay for the damages on the other car, your collision will pay for damages or value of your car. Value is determined by the market, NOT replacement cost so if you owe more than the car is worth you will still have to pay the balance to the bank even when the insurance completes the settlement. |
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Nate W
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Your property damage coverage will pay to repair the other person's car.
Your bodily injury coverage will pay for any injuries the other driver may have suffered.
If you have Collision coverage, it will pay to repair your vehicle or simply give a check for the value of your car, which ever is less. |
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