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treron3 | What do you do when you have a totaled vechile and you are still making payments on and your ins. wont pay? |
Please help i dont know what to do my insurance company is refusing to pay because my sister in law did no hava a current licences . and i can not sell it because we have 2 more years to pay it of. and it cost to much tp get it fixed. |
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luvmyjetta06
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It looks like you're going to have to sue your sister-in-law for damages she caused. Obviously she was considered to be at fault in the accident, or the other person's liability coverage would have covered it. Insurance companies base policy premium on the risk they think they are going to incur by insuring YOU!That's why most companies will not insure unlicensed drivers-the risk is too high.They do not have to pay for damages you sister-in-law caused to your property, because you "assumed" the risk by letting her drive you car. There is probably a reason she does not have a license-either too many points, suspension, age, can't pass the exam, health issues?Sorry-but insurance does NOT follow the vehicle, because if your sister-in-law would have had a license and her own insurance -even as an added driver on her husband's or parent's policy-that policy would have paid out. I just hope she didn't injure anyone-then there could be real trouble for her and you later. Sell the vehicle for scrap parts or to a mechanic. Sometimes your insurance company might even purchase it from you. Save money to buy a used vehicle. Some companies offer a named operator policy-which will provide liability coverage for someone who does not own a vehicle, but drives on occasion, if you borrow a friend's car for example. I would recommend you obtain this type of policy while you're waiting for this to be worked out because like the another writer said- you do not want a lapse in coverage because you will be seen as high risk when you try to start coverage again. Good luck-this is a lesson I learned the hard way years ago! |
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Karen L
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1. Continue to make your payments to prevent jacking up your credit. I would not recommend a bankruptcy over a car.
2. Try to pull your resources to buy a inexpensive cash vehicle - ask your sister-in-law to contribute money for the new car or the totaled car. If she refuses you can inquire at a small claims court about the process to get her wages garnished for the value of the totaled vehicle.
3. Continue to pay insurance. Do not let your policy lapse. You may choose to change insurance companies but don't let the policy lapse. Not only can you get into trouble with the state but your finance company might start their own expensive policy.
4. Contact your finance company and ask what suggestions they have. They might be able to roll the left-over debt onto a new car. (if you have decent credit, some new car dealerships have customer incentives that can hide the negative equity << use those words when you talk to the dealer/finance company) But don't sign a new contract unless you can budget for the new debt.
5. Check your policy/endorsements or ask your agent to show you where the exclusion is regarding other drivers or drivers without valid driver's licenses.
6. If they are not helpful, look on-line for info to contact your state's bureau of insurance and provide the facts to the insurance commissioner for a review. You might be surprised! The first answer is not always accurate. |
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hec
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Do you have a buyer? If yes, then what's the problem? People sell their cars without fully repaid debt all the time. Of course the bank, as lien-holder will receive its money first and you'll receive whatever remains (if anything).
You might have the resale value (before repairs) lower than the debt. You have two options then: 1) take an additional loan to fix the car (and then try to sell it or use it), 2) still sell the car. You'll get no money, but your debt will go down dramatically and you'll save money on the interest. It's better then now, when you can't use the car and still have to repay the loan (including the interest!) |
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Lisa Marie
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i had the same thing happen. the debt is still your responsibility. Either pay for the car and slowly get it fixed. or declare bankruptcy on the debt and return it to the dealer. i ended up doin the later, sorry and good luck |
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mike
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unless there was specific language in the policy excluding her or there were other circumstances which are not known here, the company should pay the loss. coverage does in fact follow the automobile.
your debt is your debt. however, something does not seem right in the scenario you are giving........why are they not paying? |
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flygrrl
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I thought for car insurance the insurance follows the car and not the person. Did you allow her to drive the car? your insurance should cover up to whatever limits that you have on the policy. |
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mbrcatz
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You will have to keep making payments on your vehicle, and sue your sister in law for the damages she caused you. And don't lend your next car to anyone. |
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C R
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Insurance follows the car, and things like this happen all the time. Unless you have some sort of policy with some atypical exclusions, I don't understand how they could refuse to pay for your car if you have physical damage insurance. Even if you knew the driver didn't have a valid license, they still have some duties to pay. Liability issues are a little different.
If you gave her permission to use your car and didn't know she didn't have a valid license, then she was not driving within the scope of your permission, which should take some of that burden off you.
If they have not sent you a decision in writing, insist they do it right away. Then read it very carefully and find out their rationale. Have your agent explain it, if he can.
If you believe they made their decision in error, send them a letter asking them to reconsider. Make all contacts in writing because it invokes certain duties to respond.
If you are not satisfied with their answer, contact your state insurance commision to investigate it. They would be in the state capitol.
Contact the lienholder for your car to let them know. They may have separate insurance to cover their interest (Not yours) in your car. This may relieve some of your financial responsibility. Also, as a lienholder listed on your policy, they are a separate insured and may not be subject to the same exclusions as you. |
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