There have been some instances where our client was involved in an accident and their car is totaled. Then the opposing insurance company offers them less than what they owe on the car. If this happens, and sometimes it does, there are a few things we can try to alleviate the problem.

First, we find out if our client had gap insurance. Gap insurance will cover the cost of your car in a situation where your car is totaled and you can’t pay the full loan amount off. If you purchased the gap insurance when you purchased the car then you won’t have to worry about the lower offer.

If you don’t have gap insurance then we can call your loan company and see if they will settle the loan for the amount the insurance company offered you. It is unlikely they will be willing to do this but it is worth a try.

Your third option is to see if a loan company will roll the amount you still owe into a new loan. You would then buy a new car and pay for that plus whatever you still owe on the old loan as one loan. This is not the greatest option for a client, but sometimes it is our only option.

If you were involved in a Florida car accident and the insurance company is offering you less than you owe, or you just have questions about your Florida car accident, please give us a call at 407-254-4901 or text us at 407-644-4444 and we’ll see if there is anything we can do for you.

Kim Cullen
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Central Florida Personal Injury and Wrongful Death Attorney
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