[kscarrol]

As with most insurance threads, the actual outcome will depend on your individual policy....

But in general, yes if the car is totaled (no matter who is at fault), you will get paid the current, depreciated value of the car. Who's insurance company pays depends on whose at fault and other factors. If the accident is your fault then your rates are likely going up or you could be dropped.

You can do what you want with the proceeds but if you owe money on the car, you've got to repay the finance company first. Frankly if there is a lean on the car (outstanding loan), the check will be sent to the finance company and anything left is yours to apply to a new car.

Not an expert at leasing but same basic principle applies. Proceeds first go to BMW Finance (or which ever leasing company used) to make them whole...