replacement value of my totalled car

[wcstudent]

What is the name of your state? PA. About a week ago, an older man ran a red light and hit my car in which I was driving. There were no adverse driving conditions at the time. To make a long story short, my passenger and I were transported by ambulance to the hospital along with the man that hit us. After several hours, we were all released. Everyone is fine. I have since received a copy of the police accident which states that 3 witnesses confirmed my version of the accident, which is that I had the green light and the other driver had a red light.
I had a 1996 Dodge Stratus with less than 30,000 miles on it. It was in excellent condition, not a scratch on it and I expected it to last me through college and then some. It was totalled in the accident. The damage to the car was in excess of #11,000. The insurance company wants to pay me the blue book value (3,000.) I cannot replace my car with something of like kind and quality for $3,000.00. For me to purchase another car with similar mileage and in like condition, I would probably have to spend $12,000.00.
It seems unfair that I should have to suffer as a result of someone else's negligence which has been documented. Can I sue the other driver in small claims court for the difference between what the insurance company gives me and the replacement value of my car? Or, is this a total waste of time and money. Your advice is appreciated.

 

[racer72]

Blame your state laws. They only require insurance companies to pay fair market value, not replacement value, in cases of totalled vehicles. It is then up to you to protect yourself by purchasing additional coverage. You obviously did not so you lose. You can attempt to sue the at fault party what you want but don't be surprised if most judges disagree with you.

 

[teflon_jones]

You should go to www.nada.com and find out what the market value of the car is rather than just taking the insurance company's word for it. I priced out the most basic 1996 Dodge Stratus and got $3550 for the retail value. If you have the ES model, a V6, or a sunroof your car is going to be worth more than this.

 

[racer72]

Just did a check at NADA, even if your car is the top of the line with only 30,000 miles, they list the value at less then $5,000. Where did you get this $12,000 figure from?

 

[shell007]

Just did a check at NADA, even if your car is the top of the line with only 30,000 miles, they list the value at less then $5,000. Where did you get this $12,000 figure from?

I was wondering the same thing!

Maybe a stereo system, custom paint job, big rims, low-profile tires etc. That's my guess.

 

[Zigner]

Also, if you take the $ from the insurance company, you may have to release the other party from any further liability (property damage-wise) before they pay you, so you wouldn't be able to sue.