Legal Question in Insurance Law in Florida

Hello. I just received an answer to one of my questions.Thank you. Another question: After my accident, my car was totaled. I thought that I would get a car equal in value to the one totaled(considering age,condition,etc). What my insurance company did was pay the bank what was owed yet,and I got a check for $300 for it. Is this correct?

Christine Gilliam


Asked on 9/14/09, 4:05 pm

1 Answer from Attorneys
Sarah Grosse Sarah Grosse, Esquire

You will have to do he math, but the process is correct. The insurance co values the car, pays off the lien, and sends you any extra. If the value of the car was less than the amount of the lien (the bank loan), you would have received nothing, and you would still owe money to the bank and still have no car. What you can do now is go out and pick out another car and get a new bank loan.

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Answered on 9/14/09, 6:44 pm


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