How long does it take for my insurance company....?

...to pay what my car is worth,,, THEN gap coverage to pay the rest THEN me to pay my 1000 deductable

when should i pay my deductable...it was declared totaled today by my insurance company
i need this process to be as fast as possible i need to buy a new car with no negative equity
i totaled my car wednesday

ps i have gmac insurance

Your insurance company will come estimate what your car is worth then they will deduct the $1000 (deductible) from that and issue a check to the finance company. Then you send GAP what the insurance company paid and what is still owed and they will cover the rest (less your deductible). It will take at least a few weeks.

Well Im not sure about gmac but I work at allstate insurance (and im only 15 :]) and it usually goes pretty fast. after you make a claim the adjuster needs to find out what he thinks the estimated damage is and you pay for everything and anything over your deductible is reimbursed to you up to what your policy covers

Depends on a few things. If the loss is due to collision, you should have payment within 5 days after you've sent the title in to your insurer, LESS the deductible. Unless you have an endorsement that says they waive the deductible for a total loss, yes, it will still apply. It's not a common endorsement.

Regarding the gap coverage, if it's on your insurance policy, that will be included. If it's through the dealer, you might have to fight with them for it - it could take MONTHS. AND, it won't cover any negative equity or taxes you rolled into the loan, so it's possible you'll still owe something on the car. Which will hold up the whole releasing the title bit.

YOUR AGENT can give you a more accurate timeframe.