Does comprehencive motor insurance cover the total cost I rewarded for sports car?
Hi. I am in a bit of a panic. I hold only ounce before claimed on my insurance, after someone ram me by accident. They admitted responsobility but I never get a penny because I was later involved surrounded by a total crash that cost me multiple jaw fractures and my no claims bonus. Even though the first accident be the other parties fault I still get nothing because an unrelated crash be my fault. Anyway I will be taking the other parties insurance company to a small claims caught soon.
Besides the point, I am unresponsive scarred about what is going on with my car. I don't know for confident that it is stolen and I dont know how my insurance company will handle that. If my car does not catch found I will only get two thirds of what I compensated for it and its worth a lot more. Worse still if it gets found broken into after I sort a claim will I be held accountable for it being found.
I other lock the car and poor short term memory near bad navogational skills is not my fault.
Answers:
Unsure where you are; here in the U.S. comp coverage will pay envelope the actual cash value (ACV) of your vehicle smaller number your deductible if costs to repair exceed the value or a set percentage of. Only something called GAP insurance will protect you from losing money due to depreciation when a vehicle is declared a total loss. Bottom flash: insurance pays you what the car was WORTH prior to the loss. (at most minuscule over here). Source(s): Claims fool
I found this http://wiz.sc/ilTleW article on car insurance which offer information as well as advice and tips etc, hope it help.
i own a repair shop,and your worrying bearing to much here,you need to slow down and take a cavernous breath,let the insurance company deal beside this,your not responsible for finding the car ,and don't worry around the money part of it,they have to money you current value for it they cant get by next to no less than that,so just set and be long-suffering and let them deal next to it,if they find it and they have paid you for it ,the,ll save whats left of the car,you don't own to worry about that slice of it,just let the insurance company do here thing ,and then settlement with it,good luck i hope this back,s. Source(s): been a certified mechanic for 36 yrs.
An insurance company waits 30 days to see if your car have been found. If it isn't, they pay for the full extent of your coverage beside them.
If it is found, they examine the car to determine how much it will cost to fix it. If the repairs exceed 80% of the actual cash utility then your car is considered a "total loss" and you lose it.
If you lose it, and they take-home pay you LESS than what you owe, then you need to sate the loan by paying whatever the difference is between what you get, and what you owe. I do hope you enjoy Gap Insurance http://www.gap-insurance.com
If you have it, you won't lose any money.
Good Luck! It's a complicated long paper road!
.
Related Questions:
Besides the point, I am unresponsive scarred about what is going on with my car. I don't know for confident that it is stolen and I dont know how my insurance company will handle that. If my car does not catch found I will only get two thirds of what I compensated for it and its worth a lot more. Worse still if it gets found broken into after I sort a claim will I be held accountable for it being found.
I other lock the car and poor short term memory near bad navogational skills is not my fault.
Answers:
Unsure where you are; here in the U.S. comp coverage will pay envelope the actual cash value (ACV) of your vehicle smaller number your deductible if costs to repair exceed the value or a set percentage of. Only something called GAP insurance will protect you from losing money due to depreciation when a vehicle is declared a total loss. Bottom flash: insurance pays you what the car was WORTH prior to the loss. (at most minuscule over here). Source(s): Claims fool
I found this http://wiz.sc/ilTleW article on car insurance which offer information as well as advice and tips etc, hope it help.
i own a repair shop,and your worrying bearing to much here,you need to slow down and take a cavernous breath,let the insurance company deal beside this,your not responsible for finding the car ,and don't worry around the money part of it,they have to money you current value for it they cant get by next to no less than that,so just set and be long-suffering and let them deal next to it,if they find it and they have paid you for it ,the,ll save whats left of the car,you don't own to worry about that slice of it,just let the insurance company do here thing ,and then settlement with it,good luck i hope this back,s. Source(s): been a certified mechanic for 36 yrs.
An insurance company waits 30 days to see if your car have been found. If it isn't, they pay for the full extent of your coverage beside them.
If it is found, they examine the car to determine how much it will cost to fix it. If the repairs exceed 80% of the actual cash utility then your car is considered a "total loss" and you lose it.
If you lose it, and they take-home pay you LESS than what you owe, then you need to sate the loan by paying whatever the difference is between what you get, and what you owe. I do hope you enjoy Gap Insurance http://www.gap-insurance.com
If you have it, you won't lose any money.
Good Luck! It's a complicated long paper road!
.
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