vehicle accident help

[Zeuceone]

I have a question about an accident that ended up in leaving the car totalled. The vehicle was recently purchased and is insured. The financer is Wells Fargo and they have taken the car out of the inpound. They said that they will pay off the car but need the car off of the insurance. Does this sound right? I thought the insurance would have to pay for it.

[JohnnyFlake]

Originally Posted by Zeuceone

I have a question about an accident that ended up in leaving the car totalled. The vehicle was recently purchased and is insured. The financer is Wells Fargo and they have taken the car out of the inpound. They said that they will pay off the car but need the car off of the insurance. Does this sound right? I thought the insurance would have to pay for it.

I do not have all the details, but from what your saying, I must assume that you have misunderstood what you were told. If it was Wells Fargo that you spoke with, they will be the lien holder, the holder of the title. The car was paid in full, in the beginning, by Wells Fargo. That's why they have the title and have a lien on it, which is your loan. I expect that they were trying to explain to you that the loan will be paid off, which should be a payment from the insurance carrier. Yes, the car should then be removed from the policy.

I suggest you contact the insurance adjuster handling your claim for a detailed explanation.

[T.G]

If it was your car, I hope you're alright brother.

What does the insurance rep have to say about the situation?

[Zeuceone]

Originally Posted by JohnnyFlake

I do not have all the details, but from what your saying, I must assume that you have misunderstood what you were told. If it was Wells Fargo that you spoke with, they will be the lien holder, the holder of the title. The car was paid in full, in the beginning, by Wells Fargo. That's why they have the title and have a lien on it, which is your loan. I expect that they were trying to explain to you that the loan will be paid off, which should be a payment from the insurance carrier. Yes, the car should then be removed from the policy.

I suggest you contact the insurance adjuster handling your claim for a detailed explanation.

The way you explanied it is the way is the way I know it is supposed to work. Now the bank is telling my sister that she has to remove the vehicle from the insurance policy in order for them to pay it off.

Originally Posted by T.G

If it was your car, I hope you're alright brother.

What does the insurance rep have to say about the situation?

Everything is good thankfully. Was not my car but unfortunely it was my younger sister, her boyfriend and there baby. They were fine but the person who hit them got a bit beat up.

[T.G]

Originally Posted by Zeuceone

Everything is good thankfully. Was not my car but unfortunely it was my younger sister, her boyfriend and there baby. They were fine but the person who hit them got a bit beat up.

As long as they are fine, that's all that matters. Cars are replaceable.

[Zeuceone]

Definately. I'm also glad they were in his car and not hers, which is a bit smaller.