Furnish insurance policy

  • Thread Starter Thread Starter MAJANIQUE
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mightymoose said:
.Insurance was YOUR responsibility as soon as you took it from the lot. You did not have 3 days to OBTAIN insurance, you had 3 days to PROVIDE PROOF of insurance. If you failed to provide insurance then their coverage would kick in, BUT NOT UNTIL THEN.
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You said that their coverage should kick in, but it hasn't kicked in. Toyota is saying that either I pay for the damages or they will sell the vehicle and I have to pay left over balance
 
Your question has been answered repeatedly. You are not going to get the answer you want to hear.

You did not have full coverage at the time of the accident, only liability.
 
Majanique said:
You said that their coverage should kick in, but it hasn't kicked in. Toyota is saying that either I pay for the damages or they will sell the vehicle and I have to pay left over balance
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It won't kick in because you already wrecked the vehicle. Insurance companies don't insure totaled cars. You should not have been driving before you had full coverage unless you were willing and able to pay for a total loss.

You are wanting insurance to pay for damage that occurred before you had full coverage. It doesn't work that way. All that matters is the coverage you had at the time of the accident.

Good luck to you.
 
Majanique said:
What happens to my down payment, they accepted 9000$ plus trade in without car being financed.
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They keep that.

Here's an example. Your figures may vary but you'll get the idea.

Let's say your purchase price was $30,000 including the extended warranty, tax, license, fees, etc.

You gave $9000 down and car worth, say, $5000 leaving a balance to be financed of $16,000.

You say the financing was declined when the car got wrecked.

Let's say the extended warranty cost $1000 and you get it cancelled and get a refund of $1000.

That means you owe the dealer $15,000. You either pay it now or the dealer takes the car back and sells it to a salvage yard. Maybe gets $2000 for the wreck.

Now you owe $13,000. If you don't pay it you get sued for it. The dealer gets a judgment, it goes on your credit report, the dealer can garnish your paycheck and levy your bank accounts and record the judgment so it becomes a lien on your home.

Now you can plug in your own figures to the equation and come up with a balance that you owe.

So far, you haven't answered the question as to who was at fault for the accident.
 
Basically Toyota thought my insurance company would cover me because my other car had full coverage. But my insurance policy had so many restrictions that Toyota and I were not aware of till the next day after purchase. So since Toyota assumed my insurance company would pay they basically lied and told us the car was covered and financed. Now since I had the accident, the car couldn't get financed and they want me to pay for damages or agree to sell.
 
On agreement to furnish insurance policy it says " I fail to do so after 3 days I pay a deductible of 500$ and they then are suppose to add/charge me for premium coverage on my monthly car payments". Explain this. Do you have a agreement to furnish insurance policy form. Read it and then respond if Can help me. Nobody has answeredy question about what the form says when you fail to provide proof.
 
I don't understand how I'm responsible for THEIR car. The car still had their license plate, the title is under them. No papers have been processed. Why is it my responsibility. The car is not yet in my name.
 
Majanique said:
since Toyota assumed my insurance company would pay they basically lied and told us the car was covered and financed.
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An assumption made in error based on information and belief is not a lie. You assumed that Toyota covered the car. Your assumption was in error based on information and belief. Are you lying? Obviously not. It's time you accepted the fact that you will get NOWHERE by blaming Toyota for this.

Majanique said:
Now since I had the accident, the car couldn't get financed and they want me to pay for damages or agree to sell.
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That's right.

Majanique said:
On agreement to furnish insurance policy it says " I fail to do so after 3 days I pay a deductible of 500$ and they then are suppose to add/charge me for premium coverage on my monthly car payments". Explain this. Do you have a agreement to furnish insurance policy form. Read it and then respond
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You are taking that provision out of context and, in spite of the quotation marks, might not actually be a word for word quotation. So, make a copy of your contract, redact the identifying information, scan it and upload it to this thread so it can be reviewed in context with the entire contract.

Majanique said:
I don't understand how I'm responsible for THEIR car. The car still had their license plate, the title is under them. No papers have been processed. Why is it my responsibility. The car is not yet in my name.
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It was your car the minute you drove it off the lot. That the pending formalities weren't completed by the time of the accident doesn't change that. I understand that you are desperate to find a way out from under this but, short of bankruptcy, there isn't any.

By the way, you still haven't answered the question about fault.
 
Majanique said:
I don't understand how I'm responsible for THEIR car. The car still had their license plate, the title is under them. No papers have been processed. Why is it my responsibility. The car is not yet in my name.
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YOUR car.

You should have had the insurance you were required to have before you drove the car off the lot. You rolled the dice and lost.
 
adjusterjack said:
You are taking that provision out of context and, in spite of the quotation marks, might not actually be a word for word quotation. So, make a copy of your contract, redact the identifying information, scan it and upload it to this thread so it can be reviewed in context with the entire contract..
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Every agreement to furnish insurance policy form is same. So if you have knowledge like I thought you did. You would know exactly what the form reads. So if you do not believe it says that I agreed to pay 500$deductible for premium insurance then you can look up form online to confirm.
 
Majanique said:
Every agreement to furnish insurance policy form is same...
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This document has absolutely nothing to do with the situation. It has been explained above. You are wanting to apply it in an inappropriate way in hope of finding a loophole.
The agreement simply states that you will provide proof of insurance and will default to dealers insurance after that- however in your case the car was already wrecked before any policy took effect. This is YOUR fault and ONLY your fault for driving the vehicle before you had coverage.
No insurance company is going to insure a wrecked vehicle and pay for damages that occurred before the policy took effect.
 
Dealerships don't have to protect their assets?They had no proof of full coverage and they let me drive THEIR car. They are not responsible for the car in any way??? their name is on title and registration, not mine.
 
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