by sdchargersfan » Wed Jun 03, 2009 10:03 pm
Ok.....here's the 'deal'. Yesterday I was in a car accident. Someone had rear-ended me. Her hood and front of the car were smashed in. My back bumper was bent down. She had to have her car towed. I drove away. I called her Insurance Co and told them what happened. Her Insurance Co. told me if "their insured doesnot file a claim, there is nothing they can do." Is this true? Since SHE rear-ended ME, isn't the accident automatically HER fault? I thought it was in the state of PA.
Posted: Fri Jun 12, 2009 06:31 am Post Subject:
LORI...I don't know what GAP Insurance means...can you explain?
SD, I am sure that Gap policy has been explained before as well. However, most of the financed cars would require you to maintain gap policy since it would cover the gap between the claim check and the loan amount if the car gets totaled.
You can read more about gap policy in the following thread.
http://www.ampminsure.org/auto/gap.html
~Jeremy
P.S. just remember to ask about gap coverage next time get a car financed. :D
Posted: Fri Jun 12, 2009 09:35 am Post Subject:
Good job Jeremy..
Glad to hear it's a body shop, for starters SD
If you owe more on your loan than your car is worth (it's ACV) GAP pays that difference, so that you aren't rolling more debt on top of your new car loan, putting you immediately and deeply upset down in the next car you buy.
Add your comment