If I have full covergae insurance on my car? so why want the insurance compnay pay my car off? Also be able to get a new car

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If I have full covergae insurance on my car? so why want the insurance compnay pay my car off? Also be able to get a new car

Asked on June 22, 2009 under Insurance Law, Texas

Answers:

B. B., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

"Full coverage" in car insurance doesn't usually include replacement cost, it only covers the cost of repairing your car or paying you the fair market value of the car before the accident, whichever is less.  How much you owe on the car loan doesn't have anything to do with it.

I'm not a Texas lawyer, and I don't have the facts of your accident or the insurance policy to review, and there are differences in the law from one state to another.  For advice that you can rely on, you need to talk to an attorney in your area, and one place to look for one is our website, http://attorneypages.com


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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