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 Posted: Fri May 01, 2009 8:35 pm Post subject: Car CrashedHI |
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| Hi all im new here and have a bad situation on my hands. I was hit at an intersection and was tboned by some young kids that ran from the scene in a stolen car. They absolutely totalled my car and i have a broken arm. Police arrived and everything and i submitted information to the insurance and they have come back to me and said they will not pay off the total loan nor my medical bills!!!! What is this and by the way this is AFLAC and i have full coverage insurance with them. I dont understand this i dont know what to do. Please help.... |
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Miguel78
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Joined: 01 May 2009
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| Posted: Fri May 01, 2009 8:41 pm Post subject: |
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| Hi Miguel78, As im reading your situation you are not at fault you are a victim. What did it say on the police report? How much are they trying to pay on the loan? And no medical bills? I really dont understand this situation. If you have Full Coverage Insurance i dont see why they are not paying the whole loan off.. The car is totaled correct? Or is it repairable? |
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GarySnober
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Joined: 30 Apr 2009
Posts: 19
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| Posted: Fri May 01, 2009 9:15 pm Post subject: |
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It appears that you are speaking of your own carrier (makes sense as the other vehicle was stolen). You state that they won't pay off your vehicle... but as you state you have collision coverage that they _will_ pay the value of your vehicle less your deductible. This can be different then paying the amount you owe. What you owe has nothing to do with what the insurance covers. The insurance policy states it will pay the value of the vehicle. What deal you made on your loan has nothing to do with what the insurance will pay. This is why GAP insurance exists.
You also state that your auto carrier won't pay for your medical bills. Do you have any 1st party medical coverage on your policy (such as PIP or UMBI)? If not, they would not address your medical bills. You'd need to have them considered under health insurance or some other policy. You can pursue recovery directly against the person who stole the vehicle but he may not have the means to address your loss. |
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tcope
Forum Expert
Joined: 22 Nov 2006
Posts: 5184
Location: Salt Lake City, UT
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| Posted: Fri May 01, 2009 9:45 pm Post subject: |
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| HI tcope yes your correct about the GAP insurance did u purchase this from the dealer when u buy the car? If so they say the car is worth 20k and the insurance is willing to pay 17500 the gap insurance will cover the difference of 2500 so you dont have to pay this out of your pocket. |
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GarySnober
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Joined: 30 Apr 2009
Posts: 19
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| Posted: Fri May 01, 2009 11:33 pm Post subject: car crash |
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| car insurance will normally only pay the current value not what you actually owe on your car loan. This is usually a problem and therefor you need gap insurance. Sorry for your broken arm. If they will not pay medical then you are not carrying personal injury protection, I am guessing. |
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tenderHeartBabies
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Joined: 03 Feb 2009
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| Posted: Sat May 02, 2009 12:18 pm Post subject: |
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| Quote: | | i submitted information to the insurance and they have come back to me and said they will not pay off the total loan nor my medical bills!!!! |
Only GAP insurance will pay off your loan...your auto policy is not bound to do such...they owe you the ACV (actual cash value) of your vehicle and not a cent more...as to the med bills, do you have medpay, PIP or Uninsured motorist (BI) coverage? If not, then they can't pay any med bills..The majority of states require UMBI, check your policy, let us know your coverages and we'll see if we can help you sort this out. | Quote: | | If you have Full Coverage Insurance i dont see why they are not paying the whole loan off |
Gary, why on earth would you think they would owe to pay off the loan? Show-me an auto policy that says that under the collision (or any) coverage? GAP is the only policy that will do that..
_________________
"Never, never be afraid to do what's right, especially if the well being of a person or animal is at stake. Society's punishments are small compared to the wounds we inflict on our soul when we look the other way." Martin Luther King Jr. |
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Lori
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Location: Missouri
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| Posted: Sat May 02, 2009 3:07 pm Post subject: |
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Hello 
| Quote: | | Only GAP insurance will pay off your loan... |
GAP ( Guaranteed Asset Protection ) will pay for your damaged totaled car. The GAP insurance the covers deference between your cars is worth & what you owe on the car. Its activated when your car totaled or stolen if totaled its paying if your cars damage is less that 80% of worth of car while insurance or car owner still making payments of insurance policy.
About your broken arm, I am felling very sad. But if you have health insurance they must have to pay your medical bills & they can't ignore that. They will check police report.
Welcome for Further queries.
Thanking you. |
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DanielC
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Joined: 14 Apr 2009
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| Posted: Tue May 05, 2009 6:00 am Post subject: |
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| Quote: | | You also state that your auto carrier won't pay for your medical bills. Do you have any 1st party medical coverage on your policy (such as PIP or UMBI)? |
What about Medpay? I guess that would cover the medical expenses upto the coverage limit. However, it wouldn't compensate for the wage loss. |
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kelvin
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