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Those who are lucky enough to have avoided flood damage in an area that was inundated should probably keep the car parked until all roads are cleared. It's tempting to get back to driving as soon as possible. However, it could be that you end up driving into an area that is flooded and become submerged while still inside the car.
Say you have an account size of $10,000. 1% of your account would be $100. If you were to lose 5 trades in a row, but you never risked more than 1% of the account, the total loss would only be about $500, or 5% of the starting capital.
Why is if the airbags deploy is the car totaled ? Because standard comprehensive and collision auto policies only cover your new car's "fair market value". And that can be as little as 80% of what you paid for your car, starting the minute you drive it off the lot. This condition of negative equity may exist for the first two or three years of ownership.
car totalled but still owe money There is some good news if you carry comprehensive insurance on your car. Where homeowners have to purchase a separate rider to their insurance policy, car owners with a comprehensive policy are generally covered. The flood damage counts as property damage the same as if a tree fell on your car or a phantom accident occurs in your absence.
car totaled Do not try to start the car: Your first instinct is to see if the car is still working. However, it was submerged in water, which may have gotten into the engine. Starting the car in this condition, could lead to further damage to the engine.
Because I was once a commodities broker, I witnessed first hand the reckless way that most people handle their money. In fact, I had the unique perspective of watching just how crazy people would get with their trading. Read this carefully: THE AVERAGE LIFE OF A CLIENT THAT WAS TRADING THEIR OWN ACCOUNT WAS ABOUT 3 MONTHS!!! 3 months and they were toast! And absolutely the most common, number one reason they got blown out was because of poor or non-existing money management.
Read More: http://www.handhsalvage.com
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