If my car was totaled and the other person was at fault. since my insurance paid off my car loan, does their insurance company pay me or my insurer?

And does or who replace my car??

Asked on March 20, 2014 under Accident Law, Texas


Anne Brady / Law Office of Anne Brady

Answered 6 years ago | Contributor

Since your insurance paid off your car loan, they will seek to be paid back for that from the at-fault driver's insurance.  You will be entitled to collect from the at-fault driver's insurance for any difference between the fair market value of you car at the time of the accident and whatever your insurance paid to pay off your car loan.  So, for example, if the FMV of your car was $8,000 and there was $5,000 left on the loan, you will get $3,000.

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