Insurance Company Stalling

[wnagel]

What is the name of your state? KS

I purchased a very nice used truck for $8,000. Three weeks later a person ran a stop sign, hit me broadside and totalled my truck. Their insurance company offered me $5,500 and told me that this is not negotiable. They use some blue book. I looked up the value and there was not consideration for condition or mileage. I think it is clear that condition and mileage should be considered. I sent them a letter to either repair my truck or get me a similar one. They refused and said that they were going to tow the truck to my driveway. I wrote to the insurance commissioners for our state. Currently, I am without truck and still making payments on the truck.

Q) Can insurance adjusters set whatever amount for a vehicle they want? Do they all use the same blue book? What is your recourse?

Q) Can I sue the people who actually did the damage on my vehicle? Obviously yes, but I'm afraid their insurance company will stand with them and state that I refused to take their offer. How to Judges look at this?

 

[lwpat]

"Can insurance adjusters set whatever amount for a vehicle they want? Do they all use the same blue book? What is your recourse"

Unfortunately your only recourse is to sue and this can cost you the difference between the 5,500 and the 8,000. The insurance adjuster knows this and is taking advantage of that fact.

Since you only had the truck for three weeks and assuming that it was an "arms length" transaction then you should be able to prove in court that the truck was still worth the 8,000.

They are responsible for the fair retail market value of the vehicle including sales tax. This value takes into consideration mileage and condition.

You need to take possession of the truck in order to prevent a large storage fee from accumulating. Then follow up with your state insurance office. In the meantime file a claim with your insurance carrier and let them go after the other insurance company.

You can then sue the other driver for your deductible in small claims court.

 

[JETX]

"Can insurance adjusters set whatever amount for a vehicle they want?"
*** Yes, and no. They are required to provide you with the 'fair market value' for your vehicle, in its condition immediately prior to the accident. Obviously, the problem arises when their valuation is different than yours.

"Do they all use the same blue book?"
*** No. You certainly have the right to provide them with additional information to support your higher 'value'. In this case, since you just purchased the vehicle (3 weeks prior), you should be able to show them your purchase documents and, unless you had some 'loss' between the purchase and this accident (AND if that purchase was arms-length) the purchase price should be accepted as the fair market value.

"What is your recourse?"
*** Your recourse is to try to show them where their figures are low and why. If that fails, your only other real recourse is to consider taking legal action against them.

"Can I sue the people who actually did the damage on my vehicle?"
*** Yes.

"Obviously yes, but I'm afraid their insurance company will stand with them and state that I refused to take their offer. How to Judges look at this?"
*** Of course you're correct in that the other parties insurance company will provide a defense for their policyholder. As to their offer and your refusal influencing the court, it won't.