Very important wuestion ONLY TRUE ANSWERES PLEASE!?

Question

my dad bout a new 2009 toyota camry its red and my mom had a accident like 3 hours ago and we have GAP insurance and we havent reported anyhting the girls excuse was she had bad breaks but my mom doesnt speak fluent english and my ddad is cussing at herabout food that she is stupid and he parents(they are dead) wat are possibilities and how much do we have to pay for the accident...my mom is crying alllllot...HELP and any other detainls.

Answer 1

well, what are you waiting for? report it already!

they can check to see if her breaks really were bad or if she was just lying to try and get out of it.

as for the costs, she might have to pay for some of the damages done

Answer 2

Pls provide a bit more information.  There are 3 issues...

a)  GAP insurance covers the DIFFERENCE between what the car is worth (i.e. what the insurance pays to have the car repaired) and what is owed on "your: car loan.  Nothing more.  COLLISION / COMPREHENSIVE insurance must be carried by you which covers bulk of the loss as GAP only pays the "difference" between what is deemed the "covered" loss and the existing loan to be paid off.

b) Whether the "girl" who hit your car had faulty brakes or not, changes nothing.  Assuming the girl is at-fault and you live in an "at-fault" state, then why or how the accident came to be is rather irrelevant (i.e ice on the road, faulty brakes, not paying attention... it does not really matter).  If the girl is deemed at fault (and you live in an at-fault state), then her insurance will be paying for your car's repair, that is, your insurance may pay up front to you, but your insurance will collect from her insurance--again, details that really don't relate to your question.

c)  The matter of reporting it or not reporting really comes down to 2 things:  1) What are the legal requirements to report it (according to the state you live in), and this usually is driven by the damage in question.  Typically if the damage is $200 it may not need to be reported.  If the damage is exessive, you must almost always report it, and if you don't, your insurance is likely to ask you why you didn't report it. And 2) why not report it?  Usually people don't want to report an minor accident and prefer to just pay out of pocket so their insurance rates are not increased and their driving record can stay "clean and free" of accidents.  But again, if the damage is big, you really need to report it as you (nor her) are likely to come up with a huge amount of cash to cover the damage to your car.  Plus, large damage accidents can be considered (in some states) a crime for failure to report.  I think in the state of Idaho, for example, any damage over $2,000 is a must report event.  And failure to do so, is considered a crime--not an infraction, which carries more weight, albeit, only a misdameanor crime.

c) Finally, GAP insurance general speaking, comes into play when the car is TOTALED.  Totaled means there is more damage to the car than what the car is worth.  So instead of paying you, say, $10,000 (which may be your loan payoff amount), they only pay you $8,000 cuz that is what the car is worth--though the damage to the car to repair it could be as high as $14,000.  So GAP will pay what the insurance didn't pay, which in this example, would be $2,000 (the difference between what the insurance paid [$8,000] and what the loan note needs to be paid off [$2,000].  GAP will pay $2,000 and not to you, but to your lender to which is carrying your loan.

Hope this helps.

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