Settlement Amount

[Linda Wyche]

My daughter's car was totaled in an accident that was the other person's fault. I need to know how we determine the amount she should accept from the insurance company. She still owes on her totaled car. Should the other person pay her for her emotional stress as well as the retail price of her car? At this time she has no trade-in and since she was not expecting to buy a car at this time, she doesn't have a large amount saved for a down payment. How does one determine an amount to settle with the insurance company?

 

[ALawyer]

Absent personal injury it is the market value of the car, based on the standard set by your state insurance department.

If there is personal injury, and it may not have manifested itself yet, see the information on dealing with the insurance company on Auto Accidents on FreeAdvice.com https://accident-law.freeadvice.com/insurance_company_settle.htm

[Edited by ALawyer on 11-19-2000 at 10:10 AM]