travel trailer totalled

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Posted: Thu Jul 16, 2009 8:23 pm Post subject: travel trailer totalled

Travel trailer was totalled on a vacation. Freak accident going down the highway. No one was involved except our tuck and trailer. Insurance company wants to give us much less than what it is worth plus we need to pay it off, even though we don't have it. We have less than a year of payments left. They seem not to want to budge. We've done our research and apparently they have done theirs. _________________ Register Now to have your Insurance queries solved.

anonymous1

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Posted: Fri Jul 17, 2009 10:51 am Post subject:

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Insurance company wants to give us much less than what it is worth

Based on what? How did you determine that they are offering less then your vehicles ACV (actual cash value?).

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plus we need to pay it off, even though we don't have it.

The insurance company does not owe you the payoff, they owe you only the vehicle (and/or trailers) ACV. If you owe more than the vehicle is worth, it's not the carriers job or duty to get you out of debt. If you have GAP insurance that will pay the difference in the 'gap' between the vehicles actual value, and what you owe..

Quote:

We have less than a year of payments left.

Ok, but what does that have to do with the value?

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They seem not to want to budge

Doesn't sound to me like there is a reason for them to.

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We've done our research and apparently they have done theirs.

Well, ok, what system did they use to determine the vehicle's ACV and what are you basing your value on ? How much do they say and how much do you say? What state are you in?
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Lori

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