Now you can protect yourself if your vehicle is totaled as a result of theft or collision!
In the event that your
vehicle is declared a total loss as a result of an accident or the
theft of your vehicle, your insurance company pays the actual cash value
of the vehicle at the time of loss, not what you owe on the
You remain liable for payment of the
difference between your insurance company's settlement and the balance
of your loan/lease.
This deficiency, added to the
amount of your deductible, and other expenses, can easily be thousands
of dollars, dollars that come out of your