wrecked car with full coverage insurance finance company wants more

[smokinjoe90]

What is the name of your state?KY
About a year ago I slid off the road and totalled my car. I went through the appropriate paperwork with my insurance agency. I have been getting numerous phone calls from the finance company with them stating that I need to pay them $3000.00 more. I have always thought that full coverage insurance paid off the car in the event of a wreck. Have I made some kind of error in my thinking? Or is this just a case of a greedy company trying to soak me for all that they could get.
Thanks in advance
Joe

 

[racer72]

Your insurance is only obligated to pay the value of the vehicle, not the amount owed. You were obviously upside down on your note Yes, you are obligated to pay the difference. You may wish to ask your insurance agent about purchasing gap insurance if you are upside down on your current vehicle.