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Furnish insurance policy

Discussion in 'Automobile & Car Insurance' started by MAJANIQUE, Mar 4, 2017.

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  1. MAJANIQUE

    MAJANIQUE Law Topic Starter Guest

    Jurisdiction:
    California
    I purchased a used car from Toyota of San Bernardino on a Saturday. The next day I had a bad accident and totaled the car. The car only had liability coverage when I left the lot. Toyota had me sign an agreement to furnish insurance policy if I don't provide full coverage in 3 days. Doesnt this mean that I have full coverage through Toyota for those 3 days till I can provide full coverage insurance??
     
  2. army judge

    army judge Super Moderator

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    No, Toyata gave you 72 hours to obtain the insurance necessary to protect their financial interests.

    You, however, were involved in an automobile collision 24 hours later.

    Apparently the collision was your fault.

    You now owe for a car that you must repair, if you wish to drive it.

    Meanwhile, Toyoa will demand that you pay them monthly (perhaps in full) until the debt is satisfied.

    You could also be sued by the injured party(ies).

    You could investigate a chapter 7 bankruptcy to extricate you from the financial morass in which you have placed yourself.

    Other than BK, you're stuck with debt for bucket of damaged bolts, and on the hook potentially if you're sued.

    In Cali, the prospect of a personal injury lawsuit is over 85%.
     
  3. adjusterjack

    adjusterjack Super Moderator

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    Were you at fault? You haven't said.

    Well, at least you'll be protected if somebody sues you for their injury or damage.

    No.

    But did you, by chance, happen to be replacing a car on which you did have collision coverage?
     
  4. Majanique

    Majanique New Member

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    I put 9000$ down payment on Toyota yaris 2015. And I also traded in my Toyota corolla 1991( liability coverage only) which I was replacing on my policy. I had two cars on my insurance policy, one had full coverage and my Toyota had liability. I was going to add full coverage Monday. But I crashed Sunday. Shouldn't Toyota provide insurance since they knew I had liability??
     
  5. adjusterjack

    adjusterjack Super Moderator

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    We've already established that Toyota had no obligation to provide the Collision insurance.

    The reason for my question is that your policy might provide automatic coverage for your newly acquired vehicle.

    I'm looking at a sample California auto policy. Read what it says about Collision coverage on newly acquired autos. Then read your own policy to see if it says the same thing. If it does, and you are within the time limit, you need to call your claims department right now. There should be a 24 hour toll free claim reporting number somewhere in your policy papers. And contact your agent first thing Monday morning to get the car added to the policy effective on the purchase date. I suggest taking the time to visit his office on Monday so you get confirmation of coverage in writing. And then follow up with the claims department to make sure you get a claim number and adjuster name. You can't afford to let anything slip through the cracks.
     

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    Last edited: Mar 4, 2017
  6. Majanique

    Majanique New Member

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    Does the "agreement to furnish insurance policy form" mean that if I don't provide the insurance policy within 3 days I will have to pay for the premium insurance from the lienholders? What does the form actually saying?
     
  7. Majanique

    Majanique New Member

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    In my insurance policy when you trade in a vehicle, you are replacing it on your policy. Since I traded my Toyota 1991( only liability), when I got the Toyota yaris 2015 it had only liability. They told me the car was financed but then I got denial letters because the car is totaled now. This all happen on the weekend.
     
  8. adjusterjack

    adjusterjack Super Moderator

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    That's not how I read my sample policy.

    If you didn't pick up your policy with your hands and read the section that I referred to I suggest you do that now, instead of just "thinking" you know what's in it.
     
  9. Majanique

    Majanique New Member

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    I have read my insurance policy. I know what it in my insurance policy because I have contacted my insurance about this issue and they informed me of the restrictions in my policy. My policy is not like your policy so of course "that's not how you read your policy". All I needed to know was what the agreement to furnish insurance policy meant. If you can't provide me with that info it's ok I appreciate your help
     
  10. Majanique

    Majanique New Member

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    Again =>Does the "agreement to furnish insurance policy form" mean that if I don't provide the insurance policy within 3 days I will have to pay for the premium insurance from the lienholders? What does the form actually saying?
     
  11. army judge

    army judge Super Moderator

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    Your question is irrelevant, unless it as as adjusterjack suggests.
    You said yours isn't like his.
    That leaves you without insurance on the vehicle.
    Again, we'll ask, was the collision YOUR fault?
    Are you insured with one of the topflight auto insurers such as: GEICO, USAA, State Farm, Nationwide, Allstate, Progressive, etc???
     
  12. mightymoose

    mightymoose Moderator

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    The form you ask about is likely just a notice to you to obtain insurance. Failure to do so would likely be grounds to deny the financing and repossess the vehicle.

    What matters is if you had coverage at the moment the accident occurred. It seems you did not. This is the risk you take with liability coverage.

    If the accident was not your fault you might still have some options.
     
  13. Majanique

    Majanique New Member

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    Toyota was suppose to give me 3 days to provide proof of full coverage. I ended up having a car accident before the 3 days. I need to know who provides coverage until the 3 days are up. Toyota knew I had liability coverage when I drove off the lot Saturday. I was supposed to add full coverage Monday. They did not give me 3 days. How am I responsible. I agreed to get full coverage by MONDAY. I had an accident SUNDAY
     
  14. Majanique

    Majanique New Member

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    After the 3 days insurance is on the buyer but before the 3 days, isn't Toyota suppose to cover the car in order to protect the product which is their asset
     
  15. Majanique

    Majanique New Member

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    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.
     
  16. Majanique

    Majanique New Member

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    The Toyota yaris 2015 that I purchased Saturday was a used vehicle, I also purchased 7 year warranty. Certified used Toyota. Doesnt Cover accidents. Shouldn't I receive my money back because they broke the agreement we had. They failed to protect the asset. It was not my responsibility till after the 3days are up. Even if I fail to do so after 3 days they then are suppose to add/charge me for premium coverage on my monthly car payments
     
  17. mightymoose

    mightymoose Moderator

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    You still aren't getting it.
    YOU provide the insurance. You had three days to show proof of full coverage, however at the time of the accident you only had liability. That was YOUR responsibility. Perhaps you should not have driven the car until it was properly insured?

    YOU also knew you only had liability coverage and choose to drive the vehicle anyway. You must have coverage at the time of the accident. It does not matter that you intended to get coverage the next day.

    They did give you 3 days. You were just unfortunate to total the car after only 1 day. It seems you likely could have gotten the vehicle covered with some phone calls as soon as you bought the car. Again, the decision to drive around in it with only liability coverage was your own.



    You drove the car when you knew you only had liability coverage.

    Again, YOUR responsibility for driving the car before you had full coverage.
     
  18. adjusterjack

    adjusterjack Super Moderator

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    OK, your policy is different from the sample I have and you don't have Collision coverage.

    Nobody broke any agreement. Toyota financing NEVER had any obligation to provide coverage for your car for three days. That answer has been given you several times and won't change no matter how often you ask the questions.

    As for your extended warranty you should be able to cancel it and get a refund. However, if you included the cost of the extended warranty in your loan, the refund will go to the lender and reduce the principle balance that you owe on the loan but won't reduce the payment amount.
     
  19. mightymoose

    mightymoose Moderator

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    No.
    First, they did not break the agreement.
    Second, the cost of the warranty was likely financed which means you haven't yet paid for it.
    Third, given the circumstances, you might be able to get them to remove the cost of the warranty from what you owe, but they don't have to.


    It was not their responsibility from the moment you took possession of it. YOU failed to protect it by driving before obtaining coverage.

    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.

    You did not have coverage when the accident occurred.

    If it was not your fault you may still have options through the other person's insurance company.
     
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  20. Majanique

    Majanique New Member

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    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.
     

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