That's not how our fascist country works at all. Insurance companies are the government.

You are required to have liability insurance, to cover the damage you cause. The lender is the one that requires collision insurance for the damage on your own car. The "Gap" is to cover what the difference in what the insurance company pays (ACV) on your car, and what you owe. If you don't have a loan that requires it, you don't need insurance on your car. Liability just covers the other person's car if you are at fault in an accident.

Gap insurance is to cover the difference between what the car is worth and what you overpaid for it. Not the insurance company's problem you paid too much and now owe far more than the car is worth.

This insurance is such a scam ..

Exactly

Exactly! And it takes a public shaming to get them to pay. I hope everyone watching this remembers never to insure with them. They'll lose more than $18,000 in a hurry!

Recently, a friend of mine had their gap insurance company hold up their claim process for a while with a long series of document requests. The one that stood out, was them demanding to see the actual check used to pay for the car. Now it all makes sense. Also, she still had to make payments on the vehicle during the process that wouldn't be reimbursed. Another way for them to pay less.

@@Chicago_Native Yes, that's another thing. This guy has been waiting for months. Even if the insurance pays up now, they collected interest on that money all that time while this guy and your friend probably had to PAY interest.

100%

It was just that simple. But they were looking for any excuse to not pay. Insurance companies simply do not want to pay, but keep ask8ng to get paid.

@@stephaniejames4940 I must take a degree in theoretical physics and advanced algebra to even come up with a reason that 60 cents = $18,000.

I hope people realize how dirty insurance companies can be.

This is Fraud and conspiracy of the insurance companies

Exactly 😒

Or simply give the insurance Co. a chance to correct a computer glitch, which they did. You are not an attorney.

@@stuwest3653 What computer glitch did the insurance company have?

@@Chicago_Native Watch the video.

I was in court and judges dismissed a case with a contract that admitted guilt. A totaled car. The United States Supreme Court upheld the judges and jury decisions.

@@stuwest3653 Give the insurance company a chance to correct a computer glitch??? First, this wasn't a computer glitch. The claim was DENIED by the insurance company. Whoever received the claim and wrote the denial letters wasn't a computer. Second, the car owner fought the insurance company for _seven months_ before finally going to "On Your Side" for help. The insurance company had _seven months_ of chances to pay the claim.

100%

Naw people should know better with all the free research that exist on the internet

@@LazyTeeRex They should, but they don't. People buy what they can't afford. If you have to take a loan that big on a vehicle like that, drive a used Camry instead or something you can buy outright in cash.

Scotty Kilmer approved😅😅😅😅

Lol. He’s only paid off 1/4 ($15k) in 3 years. He definitely couldn’t afford the car getting that long of a loan on it.

They definitely did it on purpose. I considered it fraud when insurance companies take your money then when it's time to pay they look for any small detail to not pay. Why did they take his money with out doing their due diligence in the beginning. It's because they are hoping this will happen and nobody will fight them.

Why pay $18,000 when you can reject the claim over 60 cents? Of course it was on purpose! Shame on Safe-Guard Insurance for trying to screw this guy over for 7 months

Gosh, I wouldn't be surprised if it were gravity that made water flow downhill. It's almost too convenient, but what do I know?

What "company " are you talking about? The insurance company had no participation in the credit union paying off the car dealer when the car was purchased. Neither one of them would have any motivation whatsoever to set up a situation for a claim denial.

​@davidison3905 Who is they? The insurance company is not privy to the amount paid to dealer. They are insuring the amount of the loan.

It's a reputation thing. Like hush money.

That is exactly what I was thinking. Or let him pay the $.60. Their obvious goal was to use ANYTHING to avoid paying the whole $18,000. But somehow that is not a crime. Seems like breech of contract to me. They sure didn't let the $.60 stop them from collecting the premium for 4 years.

@@frotobaggins7169 Exactly. It didn't stop them accepting the money.

@@frotobaggins7169 It's the car seller who probably;y just ignored the .60, the insurance company will spend endless time to find anything they can find to deny paying, some insurance people get a commission on how long they can stall paying a customer before having to shell out the money.

Why pay anything if they can get away with making up a nonsense excuse in bad faith?

@@frotobaggins7169 _"Seems like a breach of contract to me."_ It's _absolutely_ a breach of contract. A 60-cent disparity is *_not_* a defense to paying the gap insurance claim. It's disgraceful. If it weren't for the fact that the car owner went to a local TV station and apparently got the issue resolved, I would strongly recommend that he look for an attorney and sue the insurance company. If I were licensed in Arizona, I'd be glad to handle his case.

The insurance can makeup rules if it wasn’t for the news they would give this bull why does 60 cent difference matter

@@raymondmesa8258 ​​⁠yep they just seen an opportunity. Think of all the people that didn't have contact the news.

​@raymondmesa8258 It doesn't matter. It's an excuse to keep the money. Or hold the money as long as they can. Keeping it in their account allows them to use it and make money, even if they later have to pay it.

@@CurlyFromTheSwirly that's right and or interest by holding 20k for 7 months.

Gotta love stupid people that are 18k upside down on their car loan. He is a financial idiot.

When my Dad died there were no issues with waiting periods or anything like that as far as I know but they did everything they could to not pay the full amount of the life insurance policy. They sent my Mom a check for about 1/5th of the amount, she called them and complained. They sent another small check, she called them again. In total she had to call them 5 times before she got the full amount.

So the policy they SIGNED doesn’t list a waiting period? This sounds like more personal responsibility avoidance to me.

Get a lawyer it'll be well worth it

and months of stress to get some of the money they owe you

insurance companies are legalized criminal organizations.

Yea this is so true i hope someday one responsible senator or president is going to make changes to how they pay their claims. They will make you bleed before tbey even look at your claim. We have a claim with Geico and it took us more than a year to get paid with so much less than our car’s value.

What language is this gibberish?

@@DarthVader1977Facts. Thats the language of facts

@@SL-pg4dh Accurate 😂😂😂😂

He owes $45,360 not $70,000. You don't add the insurance payout to the debt you subtract it. $45,360 minus $26,709 equals $18,651, that's what he has left to pay still after using the insurance payout on his loan. The GAP insurance should be covering that $18,651 and probably will since that insurance company is going to get a ton of bad publicity from this.

How does he owe 70k?

@ o-The-Duke-o Where do you get the $70k figure from?

@@Milesco In the video it states Ins paid $26.7k but he still owes $45.3k @1:25

@@-o-The-Duke-o- Okay, I see what the problem is. The announcer used a poor choice of words. He misleadingly said the insurance company paid the car owner just over $26k, which was the value of his BMW, "but he still owes about $45,000 on the vehicle." What the reporter *meant,* and should've said, is "...but at the time of the insurance payout, he owed [not "still owes"] $45,000 on the vehicle."

Yeah. Nothing was stopping him. It isn't as if the 60 cents was even their money. They wanted to deny the claim.

usually is...

Yeah... in recent years, cars have gotten far too complicated and expensive to repair. 😠

The other problem is some new cars have bumpers that are nearly non existent and low rear hatches, so a small impact damages the rear hatch and surrounding vehicle body instead of just the bumper.

This has nothing to do with your insurance prices 😂 the delusion people trump brought out is scary.

@@angelcelis9090 how is it not when the payouts are getting bigger because the repairs are so costly, where’s the common sense in your statement?

@@pinchebruha405 you liked your own comment 😂 you must also believe the governor is wasting “your tax dollars” 🤦‍♂️

I don't feel sorry for him.

4 years later still owes more then half the value of the car-at the time of purchase. 10 year loan? Seems like Im entitled to this no matter if I can actually pay for it. Think about the value of the car when he would have paid it off and owned something worth $12. Cars value drops by almost half when you drive it off the lot, its always been that way.

Lol

Typical BMW

Big Money Wasted

It wasn't even the insurance company's 60 cents.

The dealership accepted it and wrote of the $0.60. There's a difference.

At best around 8-11k repair

The "long dialog" likely cost 3x the $5.00.

​@@frotobaggins7169exactly, it's step over a dollar to save a dime mentality.

Markets change everyday. Nobody can predict what the value of a car will be tomorrow, let alone 3 years down the line. Don't speak on things you don't understand

@@P2B_JCYes you can if you buy toyota or honda. At least you can predict that the value will hold. You can also predict that the value for a beamer or Benz will go to shxt the minute you drive them off the lot

@SL-pg4dh that's not true. You can't predict what the market will be tomorrow. Anyone who says otherwise is an ignoramus and should not be listened to. You can guess, but a guess is not truth.

He didn’t have a choice. He had to borrow 60 grand for a car. They dragged him out of his bed, drove him to the dealer under the gun, and squeezed his hand until he signed the loan applications.

Signing a contract like that would feel like grand central station when you try to sit down.

Broke ass bro trying to look rich by borrowing his life a few hundred dollars a month.

What if he was at fault or it’s no one’s fault

@@godsson8035 if it was his fault, his own insurance wouldn't have covered it and damage cannot be of no one's fault as two vehicles were involved, he was rear ended

​@@subhobrotouhhh yeah it would have rofl. That's what insurance is for...

what difference does it makes? Whether it was his insurance or the offender’s insurance, his pay out would still be the value of the car at the time which was 26k. His real issue was with his gap insurance which was a separate from on insurance. And gap has to be self insured

@@SL-pg4dh no. The third party insurance has to make him whole. His own insurance has stricter terms always, for example actual cash value than replacement value. This is why you always pursue the other person's insurance if you have the means to do so and they carry insurance

Dealers can't sell GAP to 3rd party loans.

Yeap, I bought a 2009 335i with 75k miles and so many expensive repairs were made. Never buying a German brand ever agaib

He drove it for 4 years without a problem until he got rear-ended. He certainly paid FAR too much for it in '20...

Or taking your advice. Stick with your pinto

@@nboddie1036 and he could've bought a Toyota, poor guy.

No way! You bought a luxury car and had expensive repairs? Who would’ve ever thought.

Avoid all 3 as much as possible.

@@frotobaggins7169 you're talking about Shangri La😂😂😂

He should have bought a Toyota...They hold value much better!

True but that 60 cent is still petty and dumb af

He got rear ended

@@lrich8181or a Lexus

Idk why you're being dumb. Was it stated he couldn't pay it??? He PAID for an insurance protection and was trying to use it to cover what was legally and contractually obligated to fulfill in a total 💯 loss in the vehicle. Hope you get the same thing one day and have someone say you shouldn't have bought the thing you loved because you couldn't afford it, even though he was responsible enough to get the coverages needed to cover his butt financially. Plus this entire thing is not HIS fault. SOMEONE rear ended him causing his total loss! There's so much to this story. And hopefully he gets to sue multiple companies for there lack of attention and inability to process loans. It's the banks fault for not submitting the information correct which in due time caused damages/interest accruement over the loan that was Still open because he couldn't closed out that vehicle is Full Payment, It's also the GAP, insurance companies fault for accepting the documentation that wasn't accurate which yet again caused undue stress and punitive damages to the customer. There where multiple people that could've stopped this fiasco. Please be better and stop commenting BS.

They do.

@@P2B_JC You are what's wrong with this country Mister troll

@@Drumbo1959 have you read the GAP contract? Have you read ANY GAP contract?

Bmw depreciation is not news though.

It's obvious he bought fairly new at the time

He paid $60,000 for a new car that was worth $26,000 at the time of the accident

More like an indication the insurance companies in this country need a major make over and reeled in. Gap insurance is basically insurance on your insurance. Foh.

No, the gap insurance is an indication of making a sound of money move. Since most new cars are going to be worth less, especially when they’re less than a year old.

New cars, but not like that, are the more economical choice. Used cars require repairs a lot, and are still expensive. I switched to new as the repairs of older cars would add up to a new car payment. The only thing scummier that insurance is auto repair shops.

That cars worth more than $27,000. Theyre a car insurance company. NEVER take the first amount they offer, especially in a sellers market. It's probably worth closer to $35000.

That's why he had the gap insurance.

@@bobvance- Possibly, but I don't recall hearing what year it was. It looks exactly like my 2016 and those wheels were only offered 2 years - 2016/2017. It also didn't say how many miles on it. They drop off in value massively after 100,000 miles because of maintenance expense. I just had my valve cover gasket replaced and it was $2000. It's a 6.6 hour job and you have to replace the valve cover also as they're known to warp. The oil filter housing gaskets were $1000 to replace. Although it sits right in front of the engine, it has 1 bolt that requires you to take the intake manifold off first to get at. What should be a 1 hour job is now a 3 hour job because of that. Edmunds puts the value of my 90,000 X5 AWD at $11,400

It was 60 cents cheaper to repair than replace

But might let them deny a claim. And it wasn't even their 60 cents. It was the dealership's money.