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∙ 16y agoListen...your in a mess..and I suspect may not be understanding things fully or correctly. (Like generally all lenders require insurance, and if she didn't have it they automatically buy it)...as a cosigner your involved in both the car loan... and her Chap 13 effects you too....other things (like possible liability from the accident if it turns out you were actually co-owner, not just co-signer)...all fairly specific and complex. I don't normally say this, but engage a lawyer TODAY.
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∙ 16y agoFull coverage auto insurance covers everything. If the car is totaled they will will replace it. Liability auto insurance will only cover medical bills, and not the car if it is totaled.
The other parties liability should if it was their fault. Your liability should cover the vehicle you damaged.
If another person was at fault for the accident, you will need to go after their insurance company. If you are liability only, your insurance company will not pay for anything.
If a car is totaled in an accident and only liability insurance is present, there is a chance that the other party's insurance will pay for the vehicle if the accident was their fault. If a car is totaled, but no others were involved, then the responsibility falls on the registered owner. This will not release the registered owner from paying for the vehicle, either, if money is still owed on the car.
No, BUT the person driving it does and if they fail to do so and the car is totaled then you will both be on the hook to pay off the loan...so its something to think about
Hi, It depends on what type of insurance you had. Liability, full coverage...etc...Call your insurance company and find out.
If you want to keep a totaled car, the insurance company will determine the salvage value and deduct that from your settlement check. You can still get liability insurance (if there are no safety issues related to the damage), but not collision or comprehensive unless you have the repairs made.
There is no deductible for liability claims.
When a car is borrowed (with permission) the insurance of the car owner is primary and the insurance of the driver is secondary. Here, the car owner has no coverage to pay for the damage to his/her own car, so the driver's liability insurance would cover the cost of the car. That is assuming the driver has liability insurance, if the driver doesn't have liability insurance, the car owner is stuck (unless he sues the driver).
If the accident is your fault, your insurance company is not going to pay out anything. If it is the other person's fault, the other insurance company will be liable.
If the driver was uninsured or only had liability insurance, they would be liable to still pay the finance company back or face a lawsuit.
Your own liability insurance will never pay for the damage to your property or for your medical expenses. Your collision insurance pays for damage to your property, if it is your fault. Your Uninsured Motorist Insurance or Underinsured Motorist Insurance pays for damage to your property if caused by someone else who is uninsured or under-insured. Your liability insurance will pay for the damage to someone else's property or for someone else's medical expenses, if it is your fault. Someone else's liability insurance will pay for the damage to your property or for your medical expenses, if it is their fault.