I hear this question all the time and the answer is generally not what the client wants to hear. The minute you purchase a vehicle and drive it off the lot it diminishes in value. For instance, if you purchase a vehicle and drove it home and immediately decided to resell it, the resale value would likely be thousands of dollars less than you paid for the vehicle because the vehicle is now used. Insurance companies are only bound to pay the fair market value of the vehicle. Accordingly, the amount they pay is a set figure amount that the car is currently worth. It is normally much lower than what you paid and may times it is much lower than what you still owe. The way you can protect yourself from this unfortunate outcome is to purchase gap insurance. This is a policy with your insurance company that covers the difference between what you owe on the vehicle and the fair market value. Keep this is mind when you are purchasing vehicle insurance.
The foregoing answer is not legal advice and is merely a general overview. You are advised to consult a lawyer to address your specific situation.