If you have car insurance, a comprehensive, collision, or uninsured motorist policy will provide a total loss insurance payout, which you can put toward another vehicle. With the insurer's help, you can move on from your total loss and look for a new car to buy. What Is a Total Loss...
Q. My daughter has a job at a nursing home in Columbia, Mo. Last year the company car backed into my daughter's parked car. The nursing home's insurance company considered the car "totaled."Gallagher, Jim
Bear in mind that the insurance company will only pay you what your car is worth right before the accident. If you decide to keep a totaled car and repair it yourself, you may have to pay additional money out of pocket. You will also need to acquire a rebuilt title for your car and ...
No matter the cause, totaling your car can be a scary and frustrating experience. If you have recently experienced a total loss event, you might be wondering how you will get where you need to go, what expenses you're responsible for, and if you must continue paying for insurance after t...
If you have a loan on the vehicle, you will still have to repay your lender in full. What Is a "Totaled" Car? Depending on your state and whether you or another driver were at fault in the accident, the damage to your car may be covered either by your insurance policy or the other...
What happens when a leased car is totaled? Your debt is not affected when you total a car. If you still owe money on the car, you will be expected to pay it off. Depending on how much you owe, the insurance payout may help to cover your debt.Gap insuranceis coverage you can get...
An auto insurance company will pay the cash value of a totaled car, which is what it would cost to buy the same car as a used car from a dealer. Unfortunately, your used lease car has a market value worth much less than the new price, and the payoff amount on a lease does not dr...
Review all the documents the insurance company is looking at when making the determination that the vehicle is fixable. They will tell you that the car did not “reach the threshold” of a total loss. Ask them exactly what the threshold value is to render the car totaled. ...
What happens to your title loan and the value of your car if it's been totaled? The bottom line: You will still owe the balance and any interest on your title loan. When the insurance company has declared the car totaled, that means there's no collateral left in the vehicle for your...
Just be sure that the disagreement is significant, as you’ll be responsible for paying for the appraiser no matter what comes out of the arbitration process.[3] 4 Sign over the title of your car to the insurance company. Once your insurer has paid you a check for the total loss of ...