Your Car Is Totaled, But You Still Owe the Bank: A Fort Worth Car Accident Attorney Explains What Happens Next
If your car is totaled in Texas while financed, insurance pays actual cash value, not your loan balance. GAP coverage may help pay some or all of the difference between the vehicle’s actual cash value settlement and the covered loan balance, subject to the product’s terms, limits, exclusions, and eligibility requirements. If injured, consulting a personal injury attorney ensures your physical and financial recovery are fully protected alongside property claims.