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Who does my insurer pay when my vehicle is a total loss?
Posted on: 2012-02-21Share this:
If an insured's car has incurred a "total" loss, he or she may really want to get all the money his or her insurance may provide. As with payment, once the claim settlement is payable, the claim may be paid to either three parties: the insured, since he or she owns the totaled car, the financial company if the vehicle is leased or mortgaged, or jointly to the insured and the finance company, if the vehicle is still under financing.
