Totaled Leased Car from Hurricane Sandy

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PostPosted: Mon Dec 10, 2012 4:35 am   Post subject: Totaled Leased Car from Hurricane Sandy  

I leased a car just six months ago. I live in NYC, and my car was flooded from Hurricane Sandy. My insurance company (State Farm) declared it a total loss. I had full coverage and gap insurance. State Farm paid off the car and only gave me $1,400. Now I have to buy or lease a new car; My question is if I have to put another downpayment. Six months ago I gave a $5,000 downpayment and paid $450.00 for each six months. I am planning in getting the same type of vehicle. Is there a way I do not have to give another downpayment?

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PostPosted: Mon Dec 10, 2012 6:43 am   Post subject:   

No. What would your situation have been if you simply chose to trade in your leased vehicle (prior to Sandy)? You would have been upside down in your lease, and your GAP coverage would not have paid a penny.

Your insurance does not promise to buy/lease you a new vehicle as the result of a total loss. It only indemnifies you for your loss. If you ended up with $1400 in your hand, consider yourself quite fortunate. You can apply that to a new lease, and pay a higher monthly fee to rent your transportation.


CA-licensed Life & Disability Analyst. CA Insurance Lic #0596197. Also investigating insurance company abuses, and providing litigation support/expert witness services. Send me your questions, and I'll send you my answers.
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PostPosted: Wed Feb 20, 2019 9:30 pm   Post subject: Get A Public Adjuster to Fight for You!  

Not sure what state you're in but the best thing you can do is hire a Public Adjuster ! Public Adjusters CAN & will fight on your behalf to make sure the insurance companies pay you WHAT YOU DESERVE.

Resources For Finding A Public Adjuster:

Public Adjuster in Panama City

National Public Adjuster Directory

National Public Adjuster Directory

Should I hire A Lawyer or Public Adjuster?

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