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03-24-2008, 04:54 PM
| | Junior Member | | Join Date: Mar 2008
Posts: 5
| | | Wrecked car, uninsured, GAP? What to do??
I'm in California.
My hubby wrecked his financed car without any insurance on it. We do have GAP (actually GPP) on it. The car is at the tow yard as we have not had enough money to get it out. We don't know if it's a 'total' or not. The car payment is due. What's the best way to go about this? Do we make the payment? Call the GAP ins co? Do we need to find a way to get the car from the tow yard ourselves? I'm at a total loss as to what to do here!
And, yes, I'm well aware of the complete and utter stupidity that put us in this position at all!!
Thanks for ANY advice!!
Last edited by Loser; 03-24-2008 at 04:57 PM.
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03-24-2008, 04:56 PM
| | Senior Member | | Join Date: Aug 2005 Location: St. Odo of Cluny Parish
Posts: 29,043
| | | Call your insurance carrier no later than an hour after the wreck.
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03-24-2008, 05:01 PM
| | Junior Member | | Join Date: Mar 2008
Posts: 5
| | Quote:
Originally Posted by seniorjudge  Call your insurance carrier no later than an hour after the wreck. | We absolutely would have, if we'd had insurance on it. Our policy had expired at the time of the accident. At least no other vehicles were involved.
Just not sure what to do here. what steps do I start taking? |
03-24-2008, 05:02 PM
| | Senior Member | | Join Date: Jan 2005
Posts: 21,746
| | | I am interested in how you can have NO insurance, but you can have GAP insurance...
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03-24-2008, 05:11 PM
| | Junior Member | | Join Date: Mar 2008
Posts: 5
| | Quote:
Originally Posted by Zigner I am interested in how you can have NO insurance, but you can have GAP insurance... | We opted/paid for GAP when we got the car. Having no ins was mine own monumental stupidity. In my monthly bill juggling, that was the bill that got juggled. In my insanity I thought we'd be ok for one month and then I could renew it. Of course, that's when my husband loses control of the car & goes off a mountain road. If I could take it back, do ANYTHING but what I did, I would. My face is burning as I type, I feel so ashamed & STUPID.
But now we're here & I just don't know where to start. |
03-24-2008, 05:14 PM
| | Senior Member | | Join Date: Feb 2006 Location: Philadelphia, PA
Posts: 17,866
| | | Gap insurance comes from the bank that finances the loan. Gap insurance does NOT apply if full coverage is not maintained on the vehicle. Sorry, but you're really screwed - on the hook for the full value of the loan. |
03-24-2008, 05:32 PM
| | Junior Member | | Join Date: Mar 2008
Posts: 5
| | Quote:
Originally Posted by ecmst12 Gap insurance comes from the bank that finances the loan. Gap insurance does NOT apply if full coverage is not maintained on the vehicle. | The Total Loss Protection Program form that was signed & details the GPP coverage is from a different co than the lender. At the bottom under "What to do if your vehicle becomes a total loss" It says in bold:
You must submit the completed Claim Information Form within ninety (90) days of the total loss settlement, or within ninety (90) says from the date of loss if the vehicle is not insured, or Your claim will be denied.
It goes on to say that one of their adjusters will have to determine if it's a total loss if there's no ins company to make that call. This leads me to believe that the GPP could still possibly cover the loan, right? If they call it a loss, at least. Right? I read the whole thing to make sure there wasn't any fine print, but it doesn't say anything but that concerning lack of ins coverage. Legal jargon is not my thing, did I interpret the above wrong? |
03-24-2008, 05:41 PM
| | Senior Member | | Join Date: Feb 2006 Location: Philadelphia, PA
Posts: 17,866
| | | I thought Gap coverage was dependant on there being insurance, but it's possible I'm wrong. You should call the Gap provider and ask them. |
03-25-2008, 12:50 AM
| | Member | | Join Date: Aug 2006
Posts: 177
| | | Who WAS your insurance carrier before you let it lapse? Have you received notice that your policy was cancelled or non-renewed? When did it lapse? |
03-25-2008, 12:40 PM
| | Junior Member | | Join Date: Mar 2008
Posts: 5
| | Allstate was the carrier, it lapsed almost 30 days before the accident, I already had a cancellation notice.  | |
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