Denied claim on total loss and financed
by Guest »
Without going into too much detail, I filed an insurance claim for a stolen vehicle and the claim was subsequently denied by the insurance company. I won't go into the reason. But I am now on the hook for the balance of the car with my finance company which is about 17K. The finance company does not know of the loss yet but they were informed of my cancelling my policy. Now they are sending me letters stating I need to provide coverage for a vehicle that does not exist anymore. What are my options? I am sure once I tell them of the loss they will want a lump sum of the entire balance.