If a car is a total loss, will my insurance still charge me of my monthly payment?

lucy

You keep making payments till your insurance settles with you. Until settled, then those payments apply to your current loan. Now when insurance settles with your lender, then the amount (owed) on your loan will be applied to the value that insurance deems your vehicle is worth. So, if the value is (more) than your loan, then the loan company refunds back to you the balance. But, if the value is (less) than your loan, and if you (don't) have GAP, then you would owe the balance of the loan still owed. Now, your insurance has nothing to do with your auto loan. Now, if making monthly payments for your insurance, then most likely will continue to do so, since odds are that you will be buying another car to drive thus don't want to have a "lapse" in insurance, since if it lapses, then insurance will be higher. .

May

Keep making payments until the lender receives the check from your insurance company. If you overpay, the overage will be returned to you.

Bertsta

Ring them back.. If the car is a total loss, your policy becomes void and will be cancelled. Make sure they do it or you may get hit for an extra payment..

MrWakeup

Your insurance company will probably continue to charge you your monthly INSURANCE payment. Not any car payments if you still owe on your car. That being said you'll want to discuss with your insurance what your options are now that the car is 'totaled'. You may also want to consider the lapse of insurance and might have higher rates when you restart insurance. Your premiums might be higher. So that being said, if you plan to get a car pretty quickly you may want to continue the insurance and then just switch from the totaled car to the new one when you are ready. Or again discuss it with your agent. Maybe you can get a hold placed on your insurance till you get a new car.

JetDoc

If a payment is due BEFORE the insurance company completes their processing of the vehicle, PAY IT! Once you get a check in your hand, you can cancel the insurance.

regerugged

Which payments? insurance or loan payments. You need to keep paying on the loan until the claim is settled. The insurance will list the loan company on the settlement check. If you are paying monthly insurance payments, keep paying. You will need insurance when you get another vehicle.

Obi Wan Knievel

Your policy stays in force until it's cancelled in writing. That's the rule with Progressive, because that's the rule with all insurance companies. Your policy not only covers your vehicle, it covers any 'newly acquired' vehicle you may newly acquire. Like just for example, any vehicle you might purchase to replace the smoking ruin that used to be your car. It also probably covers any loss or damage to the temporary rental. As you can see, there's more than just your current vehicle at risk here. If you know your car is a total loss, and if you have no intention of replacing it any time soon, then you'd sign a cancellation form. If you simply stop paying, Progressive will cancel the contract for non-payment. Non-payment cancellations are a black mark on your insurance record, cancellations at your request are not. If you intend to get another vehicle really soon (within 30 days), keep your policy in force and just inform Progressive when you get the new vehicle. The cost is roughly the same (because there is often a cancellation fee), and it involves less paperwork on your end.

Anonymous

You are responsible for car payments until the loan is paid in full. You are only responsible for car insurance when the car is on the road. It's totaled and off the road? CANCEL THE INSURANCE. You've already made the claim.

Edna

If your car is totaled and you still owe money on it, you have to continue making monthly car payments to the finance company (not to the insurance company) until the finance company is paid in full. Having a car totaled doesn't get you off the hook with the finance company. You're still responsible for the remaining balance of your loan with them. Your insurance company will begin charging you monthly payments for auto insurance only if you insure a different car with them.

Erik

Call them and ask. If you're lucky they already did it.

curmudgeon55

Depends on insurance- many financed vehicles have extra insurance payable to financier directly to cover payments. doesn't cover liability sometimes or medical- it only covers interest of the financier. Sometimes included in monthly payments.

FlagMichael

Your car insurance is for the car; when there is zero car there is zero insurance payment. Be sure to pay until it is official; it can take a few weeks.

AlCapone

Your insurance will automatically be canceled on your totaled vehicle and you will be refunded any prepaid unused funds. You will receive no further bills.

g

No car, no payment. Once Progressive pays you for the total loss value of your car your policy will be null and void.

Gary

Get a 2019 Lincoln Navigator! Glad your car is totaled. Navigators are the best vehicles. I just got one in December.