by fiesty » Fri May 22, 2009 06:53 pm
I was involved in a no fault auto accident. When the at fault insurance company verifies my insurance will they be made aware of the bank loan/lienholder? How will the at fault insurance company get this information in order to get the title? Also, the original auto loan has been charged off.
Posted: Fri May 22, 2009 07:22 pm Post Subject:
The third party carrier will not need to know about your lein unless your vehicle is a total loss...if it is then they have secure title, and would therefore have to have that information...
Is it totaled? Why are you concerned about them knowing if you have lein or who your lein holder is?
Posted: Fri May 22, 2009 07:24 pm Post Subject:
it is a total loss and i want to be certain the lienholder gets the money
Posted: Fri May 22, 2009 07:34 pm Post Subject:
it is a total loss and i want to be certain the lienholder gets the money
No worries there honey, they have to get a release of the lein in order to sell the salvage...they will most likely ask you who your lien holder is, your acct number etc, so they can contact them and get a payoff, and gaurantee of title release.Posted: Fri May 22, 2009 07:39 pm Post Subject:
o ok thanks... so the only info they get when verifying is just to be certain my insurance was current although i was not at fault
Posted: Sat May 23, 2009 05:18 am Post Subject:
Also, the original auto loan has been charged off.
Since you loan has been charged off, are you dealing with collection right now?
so the only info they get when verifying is just to be certain my insurance was current although i was not at fault
Now, where did this come from?
You are dealing with the at-fault driver's insurer, right? What would really matter in this case is whether or not the at-fault driver was current with his insurance.
Please, clarify if I've got things wrong.
Posted: Sun May 24, 2009 01:55 am Post Subject:
well my insurance has to current as well or so i think because the at fault insurer has insurance and the adjuster is verifying my insurance.... that is common procedure, right??? and yeah i would be dealing with collections so i will have to let the adjuster know that as well so that they can get the title'
Posted: Sun May 24, 2009 11:22 am Post Subject:
well my insurance has to current as well or so i think because the at fault insurer has insurance and the adjuster is verifying my insurance
Don't know why unles your state has an abuse lose law...no need for the adjuster to know anything about your ins policy if it's not being used..(rental car company yes)..that is common procedure, right???
No, not in my part of the world...if my insured is 100% at fault..I don't care about the other guys insurance or if he even had ins.and yeah i would be dealing with collections so i will have to let the adjuster know that as well so that they can get the title'
If you're car is a total they will need the title, and a release from any lein on the title, so you'll want to let them know who to call..Posted: Sun May 24, 2009 07:22 pm Post Subject:
well that is strange.... because the adjuster states she needs to verify my insurance...which i said was ok.... i dnt think that she can file anything on my ins. because of the police report and witness statements which put me in no fault...i just thought it was common procedure for the state of Louisiana.
Posted: Mon May 25, 2009 11:29 am Post Subject:
i just thought it was common procedure for the state of Louisiana.
Might be...she didn't say she was 'filing' anything did she? I'll do alittle checking with the LA dept of Ins and see what's there...all I know about LA auto ins is that nearly every claim has a suit filed because their statute of limitations is (or was been many years since I dealt with LA policys) only ONE year! Let me do a little checking if they have some type of law on the books like this would be good for us to know anyway.Posted: Mon May 25, 2009 11:37 am Post Subject:
Found it...(why she needs to verify ins)...
Louisiana law requires that all registered owners of an automobile carry liability insurance. Uninsured motorists are subject to penalties such as fines, limited recovery of damages, and impoundment of the uninsured vehicle.
Man, I wish all states did this! Check this out!
Motorists who fail to provide proof of insurance can have their vehicles immediately impounded or have their license plates removed and a yellow sticker affixed to the back windshield of the vehicle. The motorist is then
given three days to provide proof of insurance to the Office
of Motor Vehicles. After three days, if the motorist is
stopped again, the officer can impound his or her vehicle
until proof of insurance is given and all towing and reinstatement
fees are paid. The fines range from $75 to $100
on the first conviction, $100 to $250 on the second conviction
and up to $700 on each conviction after that.
The law known as “No Pay, No Play” prohibits uninsured
motorists from collecting the first $10,000 in property
damages and the first $10,000 in personal injuries regardless of
who causes the accident.
BAM !! LA, ain't messin' around, I LOVE IT...
they also sell an 'economic UM' coverage (UM appears to be optional)...that only covers economic losses (I wouldn't go for it myself, but a unique coverage)..
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