Auto and Car Insurance

auto Insurance?

we have 2.2003 cars and they are both financed through banks. My Husband was in a auto accident yesterday, And my insurance company told me that I do not carry collision on my policy. What do I do??????

Public Comments

1. Was the wreck the other persons fault?
2. You'll prolly have to pay out of the pocket..and make sure you add that to your policy for next time.
3. You will need to pay for repair yourself.....or not repair it..but if repo occors you will be liable for damage...how did this happen......you better check this out further as most auto dealers will not let car off lot til proof of necessary insurance..maybe insur co made error, call your agent direct.....
4. Eat the damage
5. You have to have full coverage on cars that are financed . I would see a lawyer about that insurance company that is holding out in giving false information.
6. Read your policy. It would be highly unusual for a bank to allow a loan without collision. Try calling back again and ask for a supervisor.
7. Pay out of your own pocket, and next time check your policy wording more thoroughly.
8. I agree with Ben. If you are financing the vehicle, then you are required to have full coverage which includes collision. Take a look at your declarations page. Is there a premium amount next to the optional coverage Collision? Call your insurer and ask to speak to a supervisor. This could simply be an oversight by somebody in underwriting.
9. You didn't say if the accident was his fault. I assume it was or the collision question should not have come up. Look at the declaration page of the policy, it will show what coverage you have. If you don't have comp / collision on the other vehicle, put it on now. It doesn't cost much money, and in the event either of you get in an accident with someone without insurance it will save you a lot of money.