Question about Gap insurance?
I had a 2004 Pacifica that I was paying about 500/mo on. I had never been late on a payment, nor had I ever missed a payment. The vehicle itself was only worth about 15k, but I owed 27k. I had a total loss housefire about 6 months ago in which the Pacifica was burnt as well. I did the necessary steps and my insurance company drafted a check to the bank on which my auto loan was on. However, I still had 12k remaining, in which my Gap was supposed to take care of. I once again sent the company all the information they required. It has been 6 months, and they still have not covered the remaining balance. I have had to make 5 additional car payments (always on time) just because the loan is still outstanding until Gap comes thru. Everytime I talk to someone on the phone (which is a low % of the time), they tell me that they are still processing and that it will be X amount of time until it is settled. They inform me that they are not responsible for any refund on the 2500 dollars
Call your state's insurance commissioner and report this and ask them how to get the insurance company to stop dragging their feet. Usually if the insurance commissioner gets involved, the company will get investigated.
