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Auto Insurance Claims/total loss
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Question
my car was total lossed and i just got it and is still making payments and my girl friend told me that i wont get anything out of the deal im just at a loss even though i wasnt at fault
Your situation is not uncommon. That is, your loan to value equation has you upside down (you owe more than the car is worth). However, all the insurance company owes you is the cost to replace your car with one of like kind and quality (actual cash value). Unless you have some gap insurance on your own policy, you will be out of luck. you may want to check with your insurance company and file a claim with them to see what it will provide.
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Answers by Expert:
Charlie Barone
Expertise
For questions involving auto damage claims, collision repair, forensics, industry practices, we can help. We specialize in claims for loss of resale value (Diminished Value).
Experience
I have 30 years experience in the collision repair and body reconstruction field, both hands-on and from behind the desk. I hold a Master Certification from ASE in the Body and Paint category, as well as their certification in Estimating. I have authored over 120 feature and training articles for the largest trade journal devoted to the collision repair industry, and have given expert testimony in court dozens of times. Licensed physical damage appraiser in Pennsylvania and reciprocal states.
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