Accidents and Insurance | Chase Auto | Chase
Accidents and Insurance
How much insurance am I required to maintain on my vehicle?
Customers must maintain proper insurance coverage throughout their loan or lease contract. For more information about insurance requirements, please review your contract or consult your auto insurance agent.
What should I do if the vehicle is damaged in an accident and can be repaired (was not deemed a total loss)?
If your vehicle is damaged for any reason, including an accident, please contact your insurance company as soon as possible.
Please keep paying your account during this process to keep your payments current and to avoid a delinquent status on your account. Even if your vehicle is damaged, you still have to make your payments on time.
If your insurance company issues you a check for repairs, please follow the appropriate processes below based on the amount of the check you receive.
For checks under $10,000:
- Mail the check to us with a written endorsement request or visit your local Chase full-service branch. If you mailed us the check, we’ll endorse the check and return it to you, unless we need additional information, in which case we’ll contact you.
For checks of $10,000 or more:
- If you haven’t already paid for the repairs, please mail us: the check, endorsed to Chase; a copy of the insurance adjuster’s estimate; and a copy of the itemized repair estimate or bill from the dealership or repair shop. We’ll endorse the check to the dealership or repair shop and forward it to them, unless we need additional information, in which case we’ll contact you.
- If you’ve already paid for the repairs and you need to be reimbursed: mail us the check with a written endorsement request, the itemized bill and proof of payment. We’ll endorse the check and return it to you, unless we need additional information, in which case we’ll contact you.
Please remember to write your account number on the insurance check and all required documents before mailing to:
Attn: Endorsement Department
PO Box 901007
Fort Worth, TX 76101- 2007
Am I responsible to keep making my monthly payments, while the insurance company evaluates my claim or if they declare my vehicle a total loss?
Yes, you should maintain your monthly payments until your obligation is paid in full.
What should I do if my vehicle is a total loss?
Please call 1-877-828-4771 ext. 2002447 Monday–Friday from 9 AM to 5:30 PM ET to connect with our Total Loss Department. Please also have your insurance company call the Total Loss Department regarding the claim.
What if I owe more on my car loan than my Insurance will cover and my car was deemed a total loss?
Review your contract to determine if you purchased GAP protection, as it can provide an additional benefit. If you don't have this coverage with your loan, you will need to pay the difference between the settlement value and your loan balance.
What is GAP?
Guaranteed Asset Protection (GAP) generally provides coverage when your car is stolen and not recovered or is damaged beyond repair and declared a total loss. If you finance a significant portion of your auto purchase, then you may owe more than the value of your car. In this case, the difference is called the “GAP.” Auto insurance companies typically pay the value of your car rather than the amount remaining on your loan. These products may help reduce the amount you owe or even take care of your remaining loan balance when the proceeds from your insurance company are not enough to pay off your loan.
What should I do if my vehicle is a total loss, and I purchased GAP coverage?
Contact your GAP company listed on your GAP agreement and open a claim. Please call our Total Loss Department at 1-877-828-4771 ext. 2002447 Monday–Friday from 9 AM to 5:30 PM ET for updates. Remember to continue to make your payments until all claims are resolved.
Does GAP cover the remaining balance my insurance does not cover?
Contact your GAP company listed on your GAP agreement to see if there are any exclusions to your benefits.
What should I do if I purchased optional products from my dealer, such as a service contract, maintenance plan, or credit insurance, if my vehicle is a total loss?
You might be eligible for a refund. You should contact your dealer or the product administrator listed on the product agreement and request to cancel with the exception of any product you intend to use such as GAP. Any refund sent to us will apply toward your principal balance.
What if I have OTHER questions about the products and services I purchased with my car loan/lease?
You should have received documentation about the products and services you purchased from your auto dealer. These documents can answer many of your questions about terms and conditions, coverage, cancellation provisions, how to file a claim, and how to contact your service provider. If you need copies of these documents, please contact your dealer directly. Please contact the service provider listed in your documents or your auto dealer for more information about the products and services you purchased from them. See Chase Driver’s Seat for additional information regarding aftermarket products.
How do I get a Letter of Guarantee (LOG) issued to my insurance company?
Ask your insurance provider to call us at 1-877-828-4771 ext. 2002447 Monday–Friday from 9 AM to 5:30 PM Eastern time to connect with our Total Loss Department to discuss what is needed to provide a Letter of Guarantee.
My total loss claim was denied, what happens to my loan?
Your contractual obligation remains in effect until it is paid in full. Please continue to make your monthly payments as instructed in your contract.
What happens to payments made after the date of loss (DOL)?
Any payments made after the DOL will be applied to your balance due. Please keep in mind that in some cases your insurance may deduct your deductible from your settlement pay out as there may be a remaining a balance owed. Any overages would be refunded back to you. Contact us at 1-877-828-4771 ext. 2002447 Monday–Friday from 9 AM to 5:30 PM ET to connect with our Total Loss Department for further details.
What is Chase’s role in my Total Loss claim?
Please keep in mind that Chase is not your insurance provider and any questions pertaining to vehicle valuation (what your car is worth) or deductions should be directed toward your Insurance provider. Chase can provide you with necessary information about your loan/lease agreement.