Their Insurance Co. Stinks

[Brendakayc]

What is the name of your state?What is the name of your state?Indiana Hi, my husband and I were hit by another driver who ran a stop sign. There were witnesses and he admitted it was his fault. His insurance co. sent someone out and they called back to say they would offer $2.715.00 or $100.00 less if I wanted to keep my car. I asked them to please just fix it and was told no because it would take about $3,500.00 to fix it. My husband got an estimate from a local shop ( not the most expensive place in town) and was told it would take a minimum of $3,900.00 to fix. Do you think I would be wrong to want $3,500.00 to buy another car? I don't want to cheat anyone but I don't want to be cheated either. They were very rude and said that $2,715.00 was their only and final offer and if I didn't like it I could get my insurance company to pay for it. What should I do?

 

[kdh]

You will have to decide just how much you want to fight with the insurance co. Ususally, a vehicle will only be fixed if it is worth more to replace than the cost of fixing it. I had the same problem with a classic car that the insurance co wanted to give me $1000 for. It took 6 months of constant phone calls for them to fix it for $3800.

It all depends on how bad you want to fight for that extra $700.

KDH

http://www.tekattorneys.com

 

[Lynx 36]

Quote: "Do you think I would be wrong to want $3,500.00 to buy another car?"

Yes, the insurance company is only required to give you fair market value f/ your car. If it cost more to fix than to total then they will total it.

Quote: "What should I do?"

There isn't much you can do. The car is legally totalled. The insurance company is well w/in their rights to pay only fair market value. You can turn it into your insurance company if you have collision coverage, and pay your deductable. Your insurance company will do the same thing though, and you'll be out your deductable.

 

[seniorjudge]

"...Do you think I would be wrong to want $3,500.00 to buy another car?..."

Yes; that would mean you would have a more valuable car after the wreck than you had before the wreck.

 

[Brendakayc]

Hi, I took very good care of my car and it was in great condition. My insurance co. said blue book for good cond. was over $4,000.00. Should I expect to have a less valuable car after an accident that wasn't my fault?

 

[seniorjudge]

Hi, I took very good care of my car and it was in great condition. My insurance co. said blue book for good cond. was over $4,000.00. Should I expect to have a less valuable car after an accident that wasn't my fault?

Of course you failed to mention this fact in your initial post.

 

[Lynx 36]

Quote: "My insurance co. said blue book for good cond. was over $4,000.00. Should I expect to have a less valuable car after an accident that wasn't my fault?"

Then turn it into them and pay your deductable. You don't have to take the settlement offer from the other insurance company if you don't want to.

 

[teflon_jones]

Insurance companies rarely offer the "good condition" blue book value for the car. You should also be aware that the Kelley Blue Book is not always the "blue book" used. The NADA book, which is also called a "blue book" sometimes, is more often used by people who work commercially in an auto-related industry. The NADA values usually run 5-10% below the Kelley values. The "fair" category is used more often to judge a vehicle's value too. Regardless of what you say, and no offense intended, but how can anyone trust that the car was in the condition you say before the accident? It sounds like they're offering you decent money for the car. Personally, I might take the $100 less and the car, and sell the car for parts. It depends on the make of the car though, and what's salvageable. Hondas and Toyotas are worth good money for parts.