You are only entitled to the then-current (when it was totalled) fair market or blue book value of your car--i.e. what it was worth when hit. The law doesn't care about what you paid or what is remaining on your loan: all it gives you is the car's value. So if you have received the fair value for your car, you are not entitled to anything else. This is exact.y why it is critical to have GAP insurance.
Rate This Answer:
Not Yet Rated
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 go to AttorneyPages.com
and retain an attorney to represent you.