If my car gets hit from behind and im still paying my car off can the insurance pay the rest off.?

John L

It's true. If the car is total loss, insurance only pays what the car is worth. Not how much you owe. BUT there is something called GAP insurance that pays the difference between what you owe and what the car is worth.

Too late now, but ask about this type of coverage the next time you finance a car.

ca_surveyor

You will get either the money representing your loss if it is less then the value of the car; or

you will get the reasonable value of your car if it is 'totaled'

you can apply the funds you receive to repairing the car or you can pay off (or down) the amount you owe.

BUT... if your car is totaled and the value of your car is LESS then you owe for the car, you will still owe the bank for the balance. Keep this in mind before you accept any settlement.

.

Jadalina

The insurance company will pay up to the total current value of the car, assumming it's totalled. Sadly this is almost never as much as what's owed on it. Check the blue book value of your car now, with current mileage, condition, and that's about what you can expect from the insurance company. If you owe more than that, you'll be responsable for the remaining balance.

la428282

Um... no... all insurance owes you (and ALL your going to get.. no matter how much you whine /scream/complain/get a lawyer etc) is the cost of repairing your vehicle or the actual cash value of your vehicle.

If you owe more then your vehicle is worth... thats no ones fault but your own. learn a lesson about financial responsibility.

Think if it was the other way around.. and you only owed 200 dollars b/c you put a huge down payment and paid alot per month.. would you still only want what you needed to pay it off.

Again.. i cant say it enough.. your only getting cost of repairs to your vehicle.. or actual cash value.. whichever is cheaper. This is life. crap happens. deal with it.

wizjp

Only if they decide to total it. They will apply the payoff check to the balance on the car and send you the difference if there is one; if not, you'll still owe a balance on the car.

If they decide to pay to repair it, NO>

FYI the insurance company believes that it will repair it to the condition it was in before the accident; after that, it's up to you. THEY alone decide if it makes financial sense for them to total it.

mommyme

depends - the the insurance declair your car "totaled"

PsyChoPath

Oh shut up, hate people like you. Ohh, my car just ain't the same, I don't want it, unless it gets paid off and I don't have to pay a cent more. Insurance from what I'm aware of, only have to pay for the damge to the car, unless the damage exceeds the value of the car, then they pay the car off, but don't fix it.

People like you make our insurance skyrocket because they want a royal treatment.

karen p

if the car is deemed a total loss, then the insurance should pay you the estimated value of the car at that time.

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