If your car is totaled, your car insurance company will reimburse you based on the current value of the car after this depreciation—not the price you paid for it, the cost of a new one, or the amount you still owe on your loan or lease agreement. That's where gap insurance comes in...
Image Credit:daseaford/iStock/Getty Images Collision coverage is the kind you want to have if your vehicle is totaled, either because of an accident or due to an act of nature. But it will bump your auto insurance premiums up a bit, so drivers are often eager to drop it as soon as ...
In determining whether a vehicle is totaled, insurance companies will calculatethe total loss ratio(cost of repairs/actual cash value) and then compare this ratio to limits set either internally within the company and/or regulated and established by state law. It is also sometimes referred to sim...
Social Security may look drastically different in the next few decades, especially since theSocial Security Administration's2024 Trustees Report estimates that the Old-Age and Survivors Insurance (OASI) Trust Fund, which pays out Social Security benefits, will be depleted by 2035. At that point, t...
And then I was in a car wreck. So I was in the backseat of a car and a deer ran in front of the car, completely totaled the car, and I had another concussion. So it was some healing, a little bit of healing, and then set back. And it was just this con...
Answer and Explanation: (a) Under FOB shipping, the seller's duty is only till the goods leave the warehouse or the shipping point decided by the seller and buyer. The buyer...Become a member and unlock all Study Answers Start today. Try it now Create an a...
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CONSIDERING A MORTGAGE REFINANCE LOAN? THIS IS HOW MUCH A 1% RATE DROP CAN SAVE YOU 3. Keep your cash working with CDs Certificates of deposit (CDs)don’t have the luster they once did when you could find yields of 4% to 6%. According to the Federal Deposit Insurance Corporation (FDIC...
Higher monthly car insurance rates with an SR-22 (this could last up to 10 years) Other inconveniences include: Photo by Grant Durr on Unsplash Other inconveniences include: Hours of community service (you don’t get to choose what you do) ...
I told some friends that I had an accident and that I totaled my car. I showed them the picture. After seeing the photo, the clear roads, and no obvious hazards, several people couldn’t understand what caused the damage. “How did you total your car? What happened?” they asked. ...