If You Crash Your Financed Car, What Happens?
While many people in Missouri may outright own the vehicle they drive, several others can still be making payments on their cars and thus do not have the titles. If a person is involved in a car accident involving a financed vehicle, it will be important to quickly find a St. Louis lawyer for car crash . The primary concern for most people who have financed cars and are involved in automobile accidents is that they will still owe money on those vehicles even when the car is totaled. Insurance companies frequently declare cars to be total losses when the costs of repair are more than the vehicles are worth, and this can be common because most automobiles depreciate at rapid rates as soon as you drive a car off the lot. HOW YOUR INSURANCE AFFECTS FINANCED CARS Missouri state law requires all drivers and vehicle owners to maintain some type of motor vehicle liability insurance coverage, with minimum levels of coverage being $25,000 per person for bodily injury, $50,000 per accident f...