Auto Insurance - My Truck Got Stolen

[TheSenator]

I financed 45,000 and paid 12,000 so far.....I have full insurance...does anybody know how much money I get back from my insurance company?

Yukon 2002 Denali

Shit happens...Happy New Fucking Year

[funkmaster]

... about 254.000$ US ... didn't you say it was a lambo ???

[SoundMan]

kelly blue book price - your 12k

[hyper]

you get retail book value.

OR

the trick is to find a similar vehicle price higher than book value then submit it to the insurance co.

they have to pay the higher amount

[stocktrader23]

Depends on your insurance.

[hyper]

also check with your finance company and see if you got G.A.P Insurance. that covers the difference betwwen the amount owed and the cash value of the vehicle

[tamparay]

As long as you have GAP insurance you get your payoff amount in full.

www.lmlive.com

[Swanks]

That sucks, how did it get stolen?

[TheSenator]

I have GAP coverage because I finance the truck!!!

[xanx]

Originally posted by TheSenator
I have GAP coverage because I finance the truck!!!

That doesn't mean you have GAP

[xxxoutsourcing]

That sucks, but every think of getting an good alarm and immobiliser system????
Next time get a alarm that locks the doors, have the door locks removed and have bomb proof glass fitted, it's a stong film that goes on the inside of the glass like a lamination, so if they smash the glass it stays in one peice and makes it very difficult for them to get in.

The harder you make it the more chance you got of keeping your vehicle!

[Rictor]

Yah, you don't automatically get GAP, it's something extra they try to sell you with your policy. It's usually wise to take it though...it's like an extra $5 a month.

[TheSenator]

Is "Loss Payable Clause" the same as GAP insurance?

[hyper]

no that just authorizes payment to the finance company.

look at the finance contract you signed, its usually a seperate page through a 3rd party insurer, such as disability and life ins. that makes the payments if u cant

[Swanks]

I know this whore whos boyfriend spoiled the hell out of her for xmas.. 4 lcd screens, dvd player and front monitor, speakers and and alarm system that when even the slightest touch is applied to the car it sends a ring to her cell phone along with a notification of what section of the car is being messed with. You need an alarm like that. Im seriously considering getting one myself after seeing it.

[PersianKitty]

Originally posted by TheSenator
I financed 45,000 and paid 12,000 so far.....I have full insurance...does anybody know how much money I get back from my insurance company?

Yukon 2002 Denali

Shit happens...Happy New Fucking Year

The insurance company will likely ask you how many miles were on the vehicle in order to determine blue book value. If you've driven a standard amount it's likely gonna be appraised at $31K to $34K. Then they get a payoff amount from your finance company, pay them that amount and you get any remainder. Remember alot of that $12K you've paid is interest. You're likely not going to see anything. And if I did the math correctly you may owe some to the finance company, if you didn't have GAP insurance.

[TheSenator]

Originally posted by PersianKitty


The insurance company will likely ask you how many miles were on the vehicle in order to determine blue book value. If you've driven a standard amount it's likely gonna be appraised at $31K to $34K. Then they get a payoff amount from your finance company, pay them that amount and you get any remainder. Remember alot of that $12K you've paid is interest. You're likely not going to see anything. And if I did the math correctly you may owe some to the finance company, if you didn't have GAP insurance.

thanks