My car maybe totaled, i’m still making payments and i don’t know what to do?
Continue to make payments until the involved insurance companies set fault and do a settlement, once that happens if you have questions your agent can answer them.
Let your insurance company handle this. However, don't expect them to be quick about it. Meanwhile keep making payments as usual. I recently had a car totaled and it took about a month to finally get a check from insurance. If your car is only worth $3K-$4K, you can be almost certain that it'll be totaled. If their check to you is not enough to fully pay off your loan, you'll have to come up with the difference. If it's more than enough, you can pocket the difference.
When you have a car loan, you are required to have collision insurance coverage. Which it sounds like you do. - if the car is totaled, the car insurance will pay off the value of the car. If you do not have gap insurance, you will need to pay off the remainder of the car. If you don't have the money, the lender will create a personal loan for you.
You are responsible for making the car payments until the debt is paid. Your car may be totaled. If so, if the amount that the company pays is LESS than the balance on the auto loan YOU are responsible for paying the loan off. If the company pays MORE than you owe, you get to keep the balance. There is absolutely no way to know what an insurance adjuster will decide. In general the adjuster LOOKS at the automobile, determines the loss vs the value. MY company totals the vehicle if the cost of the repair is 45% of more of the value of the automobile. I don't know your company's policy.
Poster Obi gave a good answer. So, you continue to make the payments on your car. Now if they deem it is repairable, then insurance will issue you a check payable to you/body shop to fix your car (minus) your deductible. Now, if the vehicle is totaled, then insurance will pay the lender the fair market value (minus) your deductible.
You keep making payments because THAT IS NOT AFFECTED. And you wait to hear. 3 days to a week1/2 is normal speed for paper pushers. . They will instruct you what to do and how to do it. There is a "certain procedure you must follow for everything. Insurance made up the rules and that is how you play the game. . You do not contact a collision center. Private people do when they want their rides customized(which is the more expensive route and shops charge higher rates) . Yours is an insurance claim so the cost of the job is first determined by a collision adjuster(who knows if a car is repairable or totaled and it is repaired at the price the adjuster says it is to be repaired at(which is NOT the inflated figures the shop gives you. You got into an accident. "THEY" claim it is my fault. WHO IS THEY? The other party? Their claim don't hold water. That is what insurance has got to find out by checking police reports and any web cams or witnesses that saw the accident as it happened. That takes time. Go to work...EVEN IF THAT MEANS WALKING BECAUSE YOU HAVE NO CAR.
Since you already notified your insurance company, you need do nothing more except to keep making your payments. Your insurance company will take care of everything. If they total your car, the check will go to your lender. If it is not enough to pay off the loan balance, you will have to continue to make payments until that loan is completely paid off. If the check is more than what you owe, your lender will take what you owe and send you a check for the balance.
1) What you do is wait for the insurance adjuster to inspect your vehicle and make a determination. Once you know whether or not they will "total" your vehicle, then you can decide what to do. 2) Assuming that you have collision coverage and not just liability, and they total your vehicle, they will send you a check for it's average market value in your area based on mileage and condition before the accident. Since you owe money on the car, if what they give you turns out to be less than you owe and you don't have GAP insurance, then you will have to pay the difference to your lender if you decide to pay it off with the insurance money. . 3) If they total it, then before it goes up for auction you will have the option of buying it back from your insurance company at salvage value, which might be as little as $500. If it is drivable with the damage it has, you could continue to drive it without repairing it until it is paid off. 4) If they choose to repair it instead, then you will be without a vehicle while it is in the body shop unless you had rental car coverage on your insurance policy. With that kind of damage, it could be in the shop for a few weeks. 5) English lesson: It's "ADVISE me", not "advice me". You got in "AN accident", not "a accident". It's "GOING TO", not "gonna". It's "I CONTACTED", not "I be contact". 6) Good luck.
Your car title has a lien on it. Whatever check the insurance company will issue, the proceeds will first go to the lienholder, so the insurance company can obtain a clean title for salvage. You'll get the remainder.
1) You keep making your payments. 2) You wait for your insurance to decide whether they are going to pay either to repair or total your car. If they decide to total it they will pay the money to your lien holder you will be responsible for any outstanding amount, payable immediately. Have you ever heard of GAP insurance?
You can take what the insurance company pays you for the car and put it against the loan. If it's not enough, you are still responsible for the outstanding loan balance.
In the meantime you just need to wait. Keep paying off your loan
Obi Wan Knievel
Actually, someone is already helping you on this. They're just not doing it fast enough for you and they're not telling you what you want to hear, that's the problem. The insurance company will send out an appraiser to assess your vehicle's value, and then (and only then) they'll decide whether to fix it or write it off. It's actually an easy decision, but it's not a quick one. They compare the actual cash (depreciated retail) value of the car in fixed condition with the cost of the repairs it needs from the crash. If the repairs cost more than __% of the total value, it's a total loss. If the repairs cost less, it's a repair job. I left the percent number blank because it varies by jurisdiction, and you didn't say where you live. Until both of those values are known, the insurance company isn't going to say anything. The repair shop / collision center / total strangers can give you guesses, but guesses don't count for squat. Only hard numbers, calculated properly and presented in court-accepted documents, matter. And there are no shortcuts, so don't look for any.
You WAIT for the adjuster to call you. You will go to the collision place when the adjuster makes an appointment. Meanwhile, call your friends, watch a movie, clean the bathroom. LIVE a normal life.
Get two body shop estimates and have your insurance company send out a claim specialist to look your car over. In the mean time you are responsible for any car loan payments.
What state do you live in? Collision coverage pays for damage to your car after an accident that you cause.