Fortunately, some finance companies (and some long-term vehicle lease
companies) require their vehicle buyers (you) to have "gap insurance"
to pay the finance company any difference between the amount owed on
the loan and what the auto insurance company pays the finance company
for the "total loss" of your vehicle. So, if you still owe money on
your vehicle loan after the auto insurance company pays all that it is
supposed to pay, then look for "gap insurance" to pay the difference.
If there is no "gap" insurance, then you could still owe the finance
company the difference between what you owe on your vehicle loan and
what the insurance company must pay to the finance company for your
destroyed vehicle.
For more information about Vehicles Involved In An Accident in Orlando contact Hanson &
Hanson, P.A. today at 1-800-426-7662 to schedule your free initial
consultation. More information about Orlando Auto Accidents can be
found in the practice areas section of our website.
