car hit while parked

[bluecherub929]

What is the name of your state? pa
my car along with several others was hit while parked legally along the street. The juvenile didn't have a license was intox and driving his friend's dads comp truck. I had to file the claim with my ins comp. They stated that they aren't going to pay it off if it is more than they think it is worth. What do I do to come out of this without a loss?

 

[lwpat]

"They stated that they aren't going to pay it off if it is more than they think it is worth. "

Not quite sure exactly what you are asking. I think you mean that your vehicle was totaled and your insurance company is not willing to pay off your auto loan.

They are only responsible for the true value of the car at the time of the accident. The loan is a separate issue between you and the finance company. It is not unusual to owe more on a vehicle than it is worth. To be fully insured you have to purchase what is called "gap" insurance.

 

[bluecherub929]

i guess what I am asking is how do I go about getting the money if they don't pay off my car. because it just doesn't seem fair that being no fault of my own "the accident " that I am being screwed. And just out of curiosity how do I go about getting gap insurance because I have never heard of it until now? Also it has been 3 weeks since the accident and everytime I call my insurance comp I get a run around about my car, they still haven't sent an adjuster out..and I am still without a car, not to mention the lost money on overtime I have missed at work, due to that fact. I thought that they were supposed to put me back were I was before the accident 100 % but i will be down some money and no down payment for a car and no trade in..So what do I do?

 

[JETX]

Actually, 'lowpat' is not correct in this case.

Based solely on the information in your post, it appears that you would have a valid claim against the other driver and/or the owner of the vehicle. Rather than turn this in on YOUR insurance, I would suggest you contact the other parties and file your claim against THEIR insurance. That way you won't get hit for your deductible and the likely increase in your insurance premium for the next three years.

Contact them and make a demand for compensation for damages.

 

[HomeGuru]

i guess what I am asking is how do I go about getting the money if they don't pay off my car. because it just doesn't seem fair that being no fault of my own "the accident " that I am being screwed. And just out of curiosity how do I go about getting gap insurance because I have never heard of it until now? Also it has been 3 weeks since the accident and everytime I call my insurance comp I get a run around about my car, they still haven't sent an adjuster out..and I am still without a car, not to mention the lost money on overtime I have missed at work, due to that fact. I thought that they were supposed to put me back were I was before the accident 100 % but i will be down some money and no down payment for a car and no trade in..So what do I do?

**A: sue the driver/owner of the car.

 

[bluecherub929]

that is where the problem has occured the owner of the veh is no relation to the driver, so they are trying to claim unauthorized use of the veh, there is no reported unautorized use to the police, however they are stating that they have to do an investigation and to turn it in to my ins comp. and let them fight it out.

 

[JETX]

And their claim of 'unauthorized use' MUST be reported to the police, investigated and charges filed in order to stand. Has the vehicle owner (company) done that yet?? If not, go after THEM!!
They simply cannot have it both ways.....

 

[lwpat]

Regardless of which insurance company you deal with they are only responsible for the value of your vehicle, not the amount of the loan.

You were correct to turn it over to your insurance company and let them deal with the insurance company of the other vehicle.

When you get another car you should discuss insuring the vehicle for the amount of the loan rather than the value of the car. It will cost more but may be worth not being in this position again.

 

[bluecherub929]

so what you are saying is I am screwed, if they don't pay off my car because it was parked on the street? That just doesn't seem right . and why doesn't your insurance comp tell you about this when you buy insurance? I have never heard of gap insurance until this accident. I guess I will just get an attorney and sue the company...for lost wages rental coverage and just being inconvenienced over the holiday and still I don't have a car, even though all I wanted was my car paid off.