I got in a accident that wasnt my fault. The other driver took responsablity! Do i get a check for the damage?

Question

I was parked and some lady hit me. took my front bumper clean off. After a couple weeks i got her INS company to take full responsibility for the accident. the quote from the body shop is $5,500 i still owe $6,000 on the car loan. Does the insurance pay the car off or cut me a check. I live in California and i need my car a friend told me that might just send me a check to fix it myself. i need help from the yahoo community. Thanks

Answer 1

you should have got two estimates and sent both   along with the time you lost and your expenses to travel not being able to use the car... your insurance should pay you and collect from the other company... i would call your company with the amended estimates .. including what i said.. tell the company you want the money... you can do this repair your self for under a thousand ok its not hard..

Answer 2

The car loan amount is irrelevant.  What's the actual cash value of the car?  You can find out by going to www.kbb.com and doing a private party sale value calculation.

The insurance company will pay the LESSER of the actual cash value, or the cost to repair.  If the cost to repair is $5500, and the actual cash value is $6500 or less, you're car's been totalled.  HER insurance company will cut a check to either you, or the body shop if you can get it repaired.  Then it's up to you to either pay the car off, or fix it.  She is NOT on the hook for the loan balance.  

If there's a gap between how much the car is worth, and the loan balance, AND the gap doesn't consist of negative equity from a prior vehicle rolled into this loan, well, that's where your gap coverage comes into play.   But likely, if your loan balance is that low, there isn't any gap.

Answer 3

its thier responabiltiy they pay they hurt your car

hope i'm right!!!!!

Answer 4

If the cost to repair exceeds at least 70% of the value of your car, then they will total it out.

That means the insurance company will offer you the ACV (actual cash value) of your car. If the ACV is more than what you owe, the insurance will pay off your loan. You will then receive a check for the remaining amount.

If the ACV is less than your loan amount. The insurance will send a check to the finance company for the ACV. Your Gap insurance should then pick up the remaining balance of the loan.

If the repairs are less than the total loss threshold. The insurance will send a check for the cost to repair your vehicle.

Answer 5

The insurance has the responsibility to repair your vehicle first.  However you need to determine the value of your vehicle and the extent of the damages.  It is a strong possibility that your vehicle maybe totalled and in this case they will pay you the value of your vehicle.  The value of your vehicle could be lower than your actual payoff.  Then you are responsible for the difference.  Also the insurance company should put you in a rental vehicle from the date of the accident

Answer 6

If the damage to your vehicle exceeds 75% of the Actual Cash Value, then your vehicle will be totaled.  The insurance company is not required to "pay off" your loan.   However, your GAP coverage should take care of the difference.

If the vehicle is not totaled, it will be repaired.  Since this is a third party claim, the insurance company will cut the check to you or the autobody if you sign a direction to pay with the autobody.  They don't care if you have a lien.

Answer 7

Depending on what the car is worth will determine whether or not the insurance company will cut you a check or pay an auto body shop to fix it.  If it's only worth six or seven they might just junk it.  Sometimes they give you the option.  Her insurance company should cover a car rental for a certain amount of time also while you wait for everything to go through.  Hope this helped.  If you have any other questions hit me up.