What does it mean that my insurance filed a matterhorn claim?
I was on a military base with no insurance and a humvee side swiped my truck and took my drivers door off. It was impounded and they will not pay for the damages due to no insurance. I willingly had them repossess my truck and they said they had to file a matterhorn claim.
Tags: Claim, filed, Insurance, matterhorn, matterhorn car loans, Mean
Matterhorn is a company that specializes in writing “forced placement” coverage. That means, when you have a loan, you’re SUPPOSED to carry “full coverage” on the vehicle. When you don’t, the lender puts coverage on your car, on a GROUP policy, with all the other people who aren’t carrying the coverage they’re supposed to.
So, you had damage to your vehicle, which has since been reposessed. Matterhorn will pay the LENDER for the claim – the damage to your car – but that isn’t going to affect you AT ALL.
The amount that gets paid to the lender, doesn’t affect the loan balance. The vehicle doesn’t get fixed. You don’t get any money – and you STILL owe the lender, for the full balance on the loan, minus whatever the vehicle sold for at auction (still damaged), plus the repo fees, plus the forced placement coverage cost.
whatever. you apparently operated an uninsured POV on Federal property.
you’re going to be paying for this.