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If you owe more than the value of a car that was declared a total loss how much does the insurance company pay?In: Auto Insurance |
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Answer
Typically the insurance companie will pay the cost of the vehicle at the time of loss, they will not pay anything more. If you purchase a vehicle that is higher than blue book, then consider gap coverage to help with this type of situation.
First answer by anonymous. Last edit by anonymous. Question popularity: 64 [recommend question]
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How much does insurance pay on a total loss vehicle? If you owe more on your car then value does the insurance pay it off? Is it true that gap insurance will only pay 25 of book value for a total car in ky?
