Truck Stolen Please Help

[sugargalaxy]

I dont know if you can exactly help me, but I am in need of help.

1 Year ago on august 3rd, I had a vehicle stolen, it was only 1 week old, it was a 99 S10. My Insurance company wouldnt pay off my loan of $20,000. They would only pay $13500. Now I need to know if there is a way to make them pay the rest of it, because of now, I have a debt to GMAC of $7000 for a truck that was 1 week old, and that was stolen at work. this has ruined my credit, it caused me to lose my job, and have two credit cards go charged off. Please let me know if you can help me in anyway. Thank you.

 

[I AM ALWAYS LIABLE]

I dont know if you can exactly help me, but I am in need of help.

1 Year ago on august 3rd, I had a vehicle stolen, it was only 1 week old, it was a 99 S10. My Insurance company wouldnt pay off my loan of $20,000. They would only pay $13500. Now I need to know if there is a way to make them pay the rest of it, because of now, I have a debt to GMAC of $7000 for a truck that was 1 week old, and that was stolen at work. this has ruined my credit, it caused me to lose my job, and have two credit cards go charged off. Please let me know if you can help me in anyway. Thank you.

My response:

An insurance company is only liable to pay its insured the "fair market value" of an insured item on the date of loss. Insurance is not responsible for what you paid to buy the truck.

Make sure that they paid the "fair market value" by finding comparables in, for example, the Kelly Blue Book. You'll find that source in your public library or at your nearest Automobile Club (AAA) location.

If they didn't pay you the proper amount, send your proof to the insurance company and demand the proper amount.

IAAL