Does comprehencive car insurance cover the total cost I paid for car?

Question

Hi. I am in a bit of a panic. I have only ounce before claimed on my insurance, after someone rammed me by accident. They admitted responsobility but I never got a penny because I was later involved in a total crash that cost me multiple jaw fractures and my no claims bonus. Even though the first accident was the other parties fault I still got nothing because an unrelated crash was my fault. Anyway I will be taking the other parties insurance company to a small claims caught soon.

Besides the point, I am dead scarred about what is happening with my car. I don't know for certain that it is stolen and I dont know how my insurance company will handle that. If my car does not get found I will only get two thirds of what I paid for it and its worth a lot more. Worse still if it gets found broken into after I make a claim will I be held accountable for it being found.

I always lock the car and poor short term memory with bad navogational skills is not my fault.

Answer 1

i own a repair shop,and your worrying way to much here,you need to slow down and take a deep breath,let the insurance company deal with this,your not responsible for finding the car ,and don't worry about the money part of it,they have to pay you current value for it they cant get by with no less than that,so just set and be patient and let them deal with it,if they find it and they have paid you for it ,the,ll keep whats left of the car,you don't have to worry about that part of it,just let the insurance company do there thing ,and then deal with it,good luck i hope this help,s.

Answer 2

An insurance company waits 30 days to see if your car has been found. If it isn't, they pay for the full extent of your coverage with 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 value then your car is considered a "total loss" and you lose it.

If you lose it, and they pay you LESS than what you owe, then you need to satisfy the loan by paying whatever the difference is between what you get, and what you owe. I do hope you have 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!


.

Answer 3

Unsure where you are; here in the U.S. comp coverage will pay the actual cash value (ACV) of your vehicle less 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 line: insurance pays you what the car was WORTH prior to the loss. (at least over here).

Answer 4

The deductible, in case you get carry of something, might basically be subtracted from the whole volume they pay you for the totaled motor vehicle. If it have been being repaired-wherein you do no longer easily get carry of money, then you definately might might desire to return up with the deductible. As for the different themes, it relies upon strictly on your coverage, as what you have chosen to have coated can selection very much-something is obtainable. regularly, in case you willingly supply permission for an unlicensed driving force to function your motor vehicle, any declare you're making ought to be denied altogether. despite if it relatively is totaled and that they cover it, they're going to easily pay you the envisioned fee of the motor vehicle (minus deductible). that would not advise which you will get payoff, simply by fact the fee of the motor vehicle could be below what you easily owe staggering now. you're obligated to bypass it directly to the finance corporation as much as the quantity you owe.

Answer 5

I found this http://wiz.sc/ilTleW article on car insurance which offers information as well as advice and tips etc, hope it helps.