by cwarner7719 » Wed Feb 16, 2011 08:04 pm
im still making payments on my car. i still owe $2500 on it. the damages could exceed that. the value of the car is around $2000. once again i stress i was the only person involved, no property damage or persons was injured. no others cars or witnessess as it was 3am. i drove it across the street back home so as to not leave my car stranded.
Posted: Wed Feb 16, 2011 08:48 pm Post Subject:
unless you have gap insurance, you're only going to get up to what the vehicle is worth minus the deductible.
of course, I am assuming you have collision coverage (since you owe on the vehicle) and that you reported the accident and claim in a timely manner.
Posted: Thu Feb 17, 2011 09:53 am Post Subject:
Gap insurance really comes to help under such situations. We'd often consider it an added expenditure while applying for the other types of insurance. But in reality, we can have our peace of mind with just a little bit extra.
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