Question:
What happens if I smash into a rear end of a 200 thousand dollar lamborghini and totals it(similar to what happened this morning on the newspaper)(http://cbs2.com/topstories/local_story_0... and I have 100 thousand dollar liability coverage?
Answers:
When is Geico going to offer auto insurance in Canada so I can switch?
What are you asking? Are you asking if it gets fixed or gets totaled? Are you asking what will happen to your insurance rates?How do I work out what money I give my employees if they want to opt out of the company car scheme?
What normally happens, is the insurance companies assess the damage, and figure out if the coverage the Lambo's owner has plus the amount covered by the person in the Mercedes would be equal to or more than the cost to repair it. If not, the insurance weighs the cost of repair to the cost of replacement, and whichever is cheaper is the way the insurance company will go.
I had to register my truck as commerical. What does that mean besides higher insurance?
Since these cars are expensive not only to buy, but also to repair, the insurance company may 'total' the car and give the Lambo owner the amount that a 'total' is worth according to their policy. Then the insurance company will more than likely auction off or sell outright the wrecked Lambo.
If my license is Revoked in CA, could I get my license in NV?
Then it will probably end up here:
http://www.readytofix.com/inventory/list...
Especially if it looks like this:
http://readytofix.com/inventory/wrecked-...
Does adding a driver/family member bring drive up car insurance premium?
Your insurance company can only pay up to the max of $100,000. The owner of the Lamborghini could sue you for the rest, but there's not much point since (a) You'd have to have the money for the owner to take, (b) Unless the Lamborghini owner can show gross negligence on your part, chances are he won't win a lawsuit, and (c) It'll probably cost him more in court costs and attorney fees than it's worth to take you to court. Besides, if he can afford that expensive car, he can probably afford to get another one and just write the first one off as a loss.Your insurance will cover the 100K and for the rest of the damage you will be held personally liable for the rest you can be sued for the other 100K
How do i get someone to take over car payments?
Go to the driver of Lamborghini and give him you car keys and tell him here you inherited a stand by car and look for ride home..How to locate a vehicle earlier than 1980? I have the VIN #. had no luck with the DMV.?
Hopefully he can afford insurance for an expensive car. It would take an average person a decade to pay that off.Whats the fine for a seatbelt violation in New York State?
If you have a home have the name transferred into a family member's name. Have your insurance agent explain this all you you and expect to be dropped afterwards. Please say you didn't do this.More Questions & Answers ...
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