by Lea80 » Wed Feb 23, 2011 10:57 pm
I had no car insurance and am worried I will not be reimbursed for an accident that is not my fault. I live in California. My question, Is the drivers insurance going to reimburse my bank for the loan or will I have to take the driver himself to small claims court ?
Any advice would be appreciated, Thanks in advance.
Any advice would be appreciated, Thanks in advance.
Posted: Thu Feb 24, 2011 12:34 am Post Subject:
As I understand it, you can collect for actually damages. Just not general damages (pain and suffering). The other insurance company does not owe for your loan... only for the value of the vehicle (i.e. if your vehicle is worth $5000 and you have a $10,000 loan, the other person only owes $5000).
Posted: Thu Feb 24, 2011 12:39 pm Post Subject:
Hey tcope, is their any kinda insurance that will cover this gap worth $5000? I mean the gap between the loan and the actual worth of the vehicle..
Posted: Thu Feb 24, 2011 02:13 pm Post Subject:
I mean the gap between the loan and the actual worth of the vehicle
Yes, through ones own GAP coverage... but this is not through the other person's insurance.Add your comment