What happens if your car is in repo and you have full coverage and you crash?

I mean like if you crash and then what happens? like what do you tell the insurance company? what about the finance company? are you still covered? What will happen is there going to be an investigation from both parties? also how is it paid do they send me a check or do they get in contact with the finance company? Also does it matter if it is your fault or not? Please help me this the first time this is happened to me??!!! please be detailed!!!!
Additional Details
What if it is considered a total loss?

dieterzakas

Your question, on one level, makes no sense. If your car has been repossessed, there is NO WAY you could ever possibly be involved in an accident, simply because you wouldn't have it.

However, I wonder whether you mean being one or two months behind on your payments? In that case, while you would be flirting with repossession, you still would have a chance to keep the car by becoming current on your payments. (It's common practice to have language in a contract that states that the lender has the right to repossess the car if you have not made payments for three consecutive months.)

Now, assuming a one- or two-month arrearage, and you get into an accident, if it's been totaled, then you'd have nothing to worry about, as the insurance company would send a check to the finance company to pay off the loan. If there is a difference between the car's value and the loan, gap insurance, if you have it, would cover the difference. Once that payment is made, you're off the hook for the loan.

To be honest, I've no idea what would happen if you were behind and the car were repairable.

pbleek

If you have valid insurance, you will be covered. (Assuming the police report says it truly was an accident, your license was not suspended and you were not under the influence... etc.) The insurance will pay the legal owner of the car, which is the finance company.
Total loss is when the cost of the repairs is close to or exceeds the value of the car. Taking into account the salvage value of the car.

Aggie

If you wreck a vehicle that you have insurance on and are behind on the payments the bank may repo it while it is getting fixed. The insurance company will issue the check for damages to you and your finance company (most do this) - you will have to contact the finance company to get them to sign it. Since you are behind on the payments they probably will not sign it off and send it back until you catch up the payments and if you don't you might be stuck in a stand off. Saw this happen during the hurricanes on a house and a relatively small check compared to value of house. I would say you might run into some problems there.

Badmamajama

How is your car in repo? If you have it,you insurance will still cover you. Only you finance company has a problem with you,not the insurance company. Definately call them and file a claim. After that lets see how much the finance company really wants the car back.

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