My sister car was stolen 2 weeks ago, she needs to know will her insurance pay off the car? Or will it just pay what it is worth?
She has full coverage.
2007-12-29 07:58:08 · 7 answers · asked by Sexy Sharif 2 in Cars & Transportation ➔ Insurance & Registration
Since every insurance carrier handles claims differently and also from state to state law's change, she will need to report the theft (if she hasnt already) to her insurance company. THey will ask for a copy of the police report.
Once she reports the theft to insurance and files a claim, she will be assigned a claims adjuster to work with. The claims adjuster will answer all of her questions regarding the claim and how it will be paid, to who and for what $.
2007-12-29 09:40:51 · answer #1 · answered by JustMe68_86 6 · 0⤊ 0⤋
They will pay her what thecar was worth before it was stolen, less any deductible amount. If she owes more than what the value is then she will have to pay the difference -- IF the car is recovered and is repairable then she will be issued a check for the repair costs.
2007-12-29 14:10:03 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If the car is not recovered - they will pay the market value of the car less her deductible. If she owes more than the car is worth - she is "upside down". If this is the case, she will owe the difference to her finance company. If she owes less than the car is worth - the first money will go the the bank and any equity will go to her.
2007-12-29 08:36:14 · answer #3 · answered by Boots 7 · 0⤊ 0⤋
They only pay what the car is worth. "Full coverage" isn't a proper insurance term, so it doesn't mean anything except that she probably has theft coverage.
2007-12-29 08:08:08 · answer #4 · answered by Anonymous 7 · 1⤊ 0⤋
they will pay the current value of auto unless she has gap insurance it will probably not be what she owes
2007-12-29 08:07:37 · answer #5 · answered by Anonymous · 1⤊ 0⤋
They will pay her loss less her deductible.
Does she have the proper police report?
2007-12-29 08:02:04 · answer #6 · answered by Advantage-ME 6 · 0⤊ 2⤋
they will pay it off, but i dont hink she'll get any money
2007-12-29 08:01:00 · answer #7 · answered by barnacle bill is partially hood 2 · 0⤊ 2⤋