| |
- The book value of a vehicle often decreases more rapidly than the amount owed
leaving a gap in coverage.
- Did you know that in the event your vehicle is a total loss, your primary
automotive insurance may not provide enough money to pay it off or replace it?
- Every year, over 8 million vehicles are totaled in events such as
collision, theft, and natural disasters. Very often, your insurance settlement
is thousands of dollars less than what you still owe on your auto loan?
- Why? It is due to conservative insurance settlements, longer-term loans,
higher costs for new and used vehicles, interest fees, and the use of
accelerated depreciation schedules.
- If catastrophe strikes, you are responsible for the difference between the
insurance value of your car and your outstanding loan balance.
- YOU could end up paying thousands of
dollars out of your own pocket for the difference on a car that
you no longer own.
|
|