Please HELP! I didn't realize that when I signed up for my ins. policy that I only had liability until I wrecked yesterday. I wrecked my jeep on a wet slick road and the damages are unreal! I can't afford to have it fixed even if it can be fixed and I still have $3800 to pay on my jeep. I am scared to call bank and tell them about my mistake on the insurance policy...no supposed to do that! I did NOT do the ins. mistake intentionally! Just went online and choose the cheapest policy I could. What can I do!
2006-07-27 06:35:59 · 25 answers · asked by pawznbeaks 1 in Cars & Transportation ➔ Insurance & Registration
It seems if you had a lean the bank would have wanted collision on it and kept on it. Unless you received the car through a bank that doesn't need insurance that seems odd. When you purchased the car did you put any extra items like gap insurance. Gap insurance is an insurance that takes care of things like this it when the insurance co. will only pay what the car is worth but it doesn't pay your loan off but the gap ins will. If you didn't purchase a good insurance policy or gap insurance I'm very sorry for your dept but there is probably nothing you can do sorry.
2006-07-27 06:44:55 · answer #1 · answered by Andria K 3 · 0⤊ 0⤋
hmmm...amazing that the lien-holder (the bank) didn't require proof of insurance.
This is a pretty good lesson for you to learn to check the details...a hard lesson to be sure, but one you probably won't make again.
If you don't want to get in trouble with the bank, and you have no savings, I'd advise you to borrow some money and pay off the final amount now, and perhaps borrow enough to also either buy another car that works (assuming you have a job and need it to get to work) or enough to fix your jeep. If your relatives can't help you, then look into a signature loan or line of credit. Make sure the interest rate is as low as you can get.
Things will be tough for a while, but you should be able to pay off the loan eventually if you have a job. If you don't have a job, then get one.
2006-07-27 06:44:18 · answer #2 · answered by VodkaTonic 5 · 0⤊ 0⤋
Theres nothing you can really do. You cant complain to the insurance company because they will just laugh at you. Im surprised that the bank didnt ask you for proof of insurance when you purchased the jeep. If you havent reported this to the insurance company, just get another policy right away with full coverage, wait a couple days, then report the accident. It probably wont work but its worth a shot. Other than that, youre screwed
2006-07-27 06:42:37 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Only a chance, Is there anyway you can talk to the place that's fixing it and tell them.Sometimes they will increase the bill so you get more from the insurance company so you can pay them.I would try, maybe they can find something else wrong with it that they missed.Insurance company will only pay a percent of the bill so if the bill is higher they have to pay more.Maybe if you explain your story(Cry if you have to) to the place that fixing it they will help you out.I'll say a prayer everything works out for you.Good Luck!
2006-07-27 06:43:02 · answer #4 · answered by Lisa M 3 · 0⤊ 0⤋
There's really nothing you can do. You still have to pay for the jeep. Sorry about the accident. Next time look at your insurance policy.
2006-07-27 06:37:42 · answer #5 · answered by Justsyd 7 · 0⤊ 0⤋
the insurance company usually asks if the car is still being paid for.. they shouldn't have let you buy a liability policy for a car that isn't paid off.. never use the net for important things.. person to person especially if it is something that you are not real knowledgable about.. i always use an insurance agent.. they find a company with the best price and tell me what i need..
2006-07-27 06:41:29 · answer #6 · answered by valiantw2001 2 · 0⤊ 0⤋
First of all, you can change your insurance policy right now...then my best guess would be that you can start asking family and friends for a long-term loan. I pray you can find the place that can fix it for the most reasonable cost too and maybe they will give you a discount, never know, plead your case to them. Best wishes =)
2006-07-27 06:38:52 · answer #7 · answered by Anonymous · 0⤊ 0⤋
1) Never shop for anything as important as insurance on the Internet.
2) Always talk with a professional IN PERSON.
It's an expensive mistake, but I'm sure you've learned some valuable lessons.
2006-07-27 06:40:41 · answer #8 · answered by Tia 3 · 0⤊ 0⤋
Hate to tell you this but by picking the cheapest insurance you declined collision. Your responsible for fixing the jeep.
2006-07-27 06:38:26 · answer #9 · answered by nonono12345 3 · 0⤊ 0⤋
That's why u need to always get a local agent, so they can help u out on situations like this. Well there's nothing that u can really do but to talk to ur bank and let them know if they can get u another loan to buy another car and add whatever you owe them to that loan.
2006-07-27 06:38:47 · answer #10 · answered by Shadow 4 · 0⤊ 0⤋