Currently have insurance through state farm (policies are on the higher end due to work requirements) I also have gap insurance through my credit union lender. Currently owe around $31k on a 2023 lexus es 350 f sport with 30k miles. I was in an accident yesterday where a driver ran a red light as I was going through my green light and I t boned him. A lot of witnesses at the scene and the officers took everyone's statements saying he was at fault. He was also unconscious at the scene and I'm unaware of his status. All of my air bags deployed and vehicle is 99% going to be a total loss. With all of that being said, what can I expect this process to be like? I have never been in an accident before. I did go to the er yesterday and had x rays done, but nothing was broken. I was pretty sore all around today. I had a really good apr on the car (less than 2%).
Posted by cgerardo25
3 Comments
https://preview.redd.it/2spsq6afickd1.jpeg?width=2252&format=pjpg&auto=webp&s=0201bb8824fefe05a2dec36b19e364f0b79f7442
Picture of my vehicle ðŸ˜
Damn no clue bro, but hopefully everything works out. If you’re sore at all or had any medical bills I’m sure you can sue his insurance and get a payout. I would talk to your insurance to see what your options are. Do you have collision insurance?
If the car is a total loss, your insurance (or his) will pay the lender first. If there is any leftover, then it will go to you.
Since you have gap insurance, that should cover any difference between what insurance pays out to the lender and what was left on the loan.