Careless driver totaled my car

[dankntt]

What is the name of your state? Tennessee

Ten days ago , while traveling home on the interstate, I was passing in the fast lane. Another driver crossed the line and merged into me. The hit caused me to spin out of control and hit the embankment. The other guy was cited with failure to yield right of way and drivers license violation (he had moved here from Florida but didn't update his license.) I have his name, DOB, and name of insurance company. I do not have the phone number for his insurance company or insurance policy number. He has a local phone number (not I don'thave a local address for him) He has not returned any calls to my insurance company.

My insurance company has agreed to take over the claim because I really need to get a new car. Once it's settled, they plan to go after the other guy's insurance. I just got a call from my insurance company and they will be settling the claim with my leinholder. The settlement is not enough to cover my loan. I am already out the money for a rental car, which I have no guarantee of recouping. Now I am going to be out $2000 to finish paying off my loan. I won't be able to afford a new car until this loan is paid off. I think it's completely wrong that I should have to be out $2000. Can I recoup that money from the driver that hit me? And plus the cost of a rental car if his insurance company doesn't cover it??

Thanks so much for your help!
Linda

 

[Lynx 36]

Quote: "I think it's completely wrong that I should have to be out $2000. Can I recoup that money from the driver that hit me?"

No. Only fair market value is paid to settle the total loss on your car. Any amount left from the loan is your responsibility.

Quote: "And plus the cost of a rental car if his insurance company doesn't cover it??"

Yes, you can get your rental car costs back.

 

[Fat Tony]

This is why you should never get a car loan. Always pay cash. If you cant afford the car you want, learn to want the car you can afford. Follow this simple strategy, and I guarantee you will never be in this situation again.

 

[teflon_jones]

This is why you should never get a car loan. Always pay cash. If you cant afford the car you want, learn to want the car you can afford. Follow this simple strategy, and I guarantee you will never be in this situation again.

What does this have to do with anything? Before you reply to a thread, you need to ask yourself two questions:
1) Do I have anything to say that's pertinent to the poster's questions?
2) Do I have anything intelligent to say at all related to the thread?

Apparently you forgot to do this!


I'm sorry dankntt, but you're stuck with that $2000. You can't recover that money from the other party, or from your insurance company. The only way you could be covered is if you have gap coverage, but it sounds like you don't. You can recover the cost of the rental, and any medical bills, and possibly a small amount for pain and suffering. The best thing you did was turn this over to your insurance company!