If I’m financing a vehicle but only have minimum coverage/liability insurance, is the dealership still accountable for GPP if my vehicle is declared a total loss?

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If I’m financing a vehicle but only have minimum coverage/liability insurance, is the dealership still accountable for GPP if my vehicle is declared a total loss?

I do have GPP coverage from the dealership. I was in a wreck and insurance won’t cover any repairs. Even though i have minimum coverage, is the dealership still accountable?

Asked on December 20, 2014 under Accident Law, South Carolina

Answers:

Anne Brady / Law Office of Anne Brady

Answered 6 years ago | Contributor

This has to do more with the total loss declaration than with anything else.  Although you have GAP coverage, if the car is a total loss and you own it and have coverage, you can either turn the car in and get fair market value or you can keep the car and get a lesser amount, but you can not force the insurance to pay to repair it.  Here, you are leasing, so if you turn the car in, you will be off the hook for the remainder of the lease.  But you can not force the insurance to pay to repair it.


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