What Happens to a Totaled Car? Typically, your car insurance company keeps the totaled vehicle and notifies the DMV of its status. The DMV may then mark your car as a salvaged title, which indicates the vehicle has experienced significant damage or is a total loss. Buyers who specialize in...
What is the difference between liability insurance and other types of car insurance coverage? Liability insurance helps pay for the medical expenses and damage caused to the other driver, their passengers and their property. However, it does not pay for your vehicle damage or injuries if you are...
8: Who will my policy cover to drive my car? This is a question many people overlook. What happens if your 15-year-old, who's learning to drive, has a crash? Will your insurance pay? What if a friend borrows your car and hits another vehicle? What if you're self-employed and dri...
Both workers comp and car accident insurance companies like to play the game of blaming pre-existing degenerative changes even though someone had no prior pain, no prior limitations, and no prior treatment to the body part at issue. This happens a lot with back injuries such as herniated or ...
Sometimes, fixing the car costs more than it’s worth—this is what they call “totaled.” If that happens, how much money I get back depends on myinsurance coverage details. Keeping good records is crucial here. Photos and notes can make a big difference later if there’s a dispute or...
There is sort of a theoretical reason for it. You buy your coverage, the car’s value drops, then the car gets totaled. You still owe $18,000 on the car. But the insurance company is only going to pay $15,000. So, you still have another $3,000 that you’re not covered for, ...
Both workers comp and car accident insurance companies like to play the game of blaming pre-existing degenerative changes even though someone had no prior pain, no prior limitations, and no prior treatment to the body part at issue. This happens a lot with back injuries such as herniated or ...
The profit on an asset that is sold less than a year after it is purchased is generally treated for tax purposes as if it were wages or salary. Such gains are added to yourearned incomeorordinary incomeon a tax return.2 The same generally applies todividendspaid by an asset, which repre...
What happens if I don’t get a 1099-K? Remember, the lower 1099-K reporting threshold should not change the amount of taxable income you’re required to report. You must report all personal and business income on your tax return, whether you receive Form 1099-K or not. ...
Although running over a pothole might be easy to avoid, if this happens to you and your car suffers damage, the odds are in your favor that repairs will be covered. Insurers treat pothole damage as a collision. Again, this type of coverage must be selected in your main car insurance poli...