Auto Insurance Claims: Total Loss Insuance claim, gap coverage, coverage insurance

Question
I Was in an accident the Car that hit me Drove off.. My car a Total loss.. I put in the claim to my Insurance.. The pay out is less then the Loan pay off.. What can I do to Bust the Insurance pay out to at least py off the Remainder of the loan??  

Answer
Hi Karlyn-

Unless you added gap coverage insurance, the insurance company is only obligated to pay you the fair market value for the car.  This is what the contract says.  If you want enough to pay off the loan in the future, make sure you add the coverage through your insurance company.  If your's doesn't offer it, let me know and I may be able to help you further with that and other coverages you may need if you don't want to find out the hard way next time.

Sheldon Maughan
smaughan@farmersagent.com