Auto Insurance Claims/Cancelled Policy

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Expert: - 6/15/2009


Question
Hi, I recently read that the insurance company is required to notify the lein holder of a cancelled policy within 30 days and  they are still legally liable to the leinholder for the true market value of your vehicle if it is stolen, burned, totaled or repossessed during the 30 days following the date of their canceling your policy. Is there any truth to that here in the State of Texas?


Answer
Hi Kim,

Unfortunately I am not specifically aware of specific Texas law. You may try to contact the Texas Department of Insurance who should be able to answer your question. It may also depend on the exact wording of your particular policy. So you may need to have a copy of the entire policy to send to the Texas DOI for verification.

I hope this helps
Richard Hixenbaugh

Auto Insurance Claims

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Richard Hixenbaugh

Expertise

Auto insurance claims procedure, auto coverage, liability issues, auto damage questions, how to deal with the insurance company, loss of use and diminished value.

Experience

I have been involved in the insurance industry for over 25 years. I have experience in underwriting, sales, claims adjusting, auto damage estimating, auto value appraising and diminished value appraising. I have testified as an expert witness over 35 times.

Organizations
Society of Certified Auto Appraisers

Education/Credentials
Completed all required courses for the Florida Property-Casualty agents license and the Florida claims adjusters license. I have attended various courses on auto damage estmating, vehicle appraising and am ASE certified in collision damage analysis.

Past/Present Clients
My company has done work for consumers nationwide.

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