M
M040396
Guest
What is the name of your state? Georgia
I was in an accident Monday, December 2. I was not at fault. The other motorist and I both have State Farm full coverage insurance. The insurance company has agreed to pay $18500 and the payoff on my truck is $20600. I've been told that I can't expect them to pay more than "fair market value." Many people have told me to hold out and they will eventually pay the full amount just to avoid paying out money for car rental and storage for my wrecked truck. My insurance agent has told me to hold off a few days before signing anything. My questions are:
1. Is there a time limit for signing the insurance company's settlement offer?
2. If I don't sign as soon as they would like me to, can they change the settlement to a lower amount?
3. By signing the Georgia Secure Power of Attorney forms that have been mailed, what exactly am I allowing my insurance company to do and will my signature on that mean I have accepted the settlement?
4. Can the insurance company have my truck moved without my permission to avoid storage costs or can the lien holder of the truck give them permission to move the vehicle?
Thanks for any advice.
I was in an accident Monday, December 2. I was not at fault. The other motorist and I both have State Farm full coverage insurance. The insurance company has agreed to pay $18500 and the payoff on my truck is $20600. I've been told that I can't expect them to pay more than "fair market value." Many people have told me to hold out and they will eventually pay the full amount just to avoid paying out money for car rental and storage for my wrecked truck. My insurance agent has told me to hold off a few days before signing anything. My questions are:
1. Is there a time limit for signing the insurance company's settlement offer?
2. If I don't sign as soon as they would like me to, can they change the settlement to a lower amount?
3. By signing the Georgia Secure Power of Attorney forms that have been mailed, what exactly am I allowing my insurance company to do and will my signature on that mean I have accepted the settlement?
4. Can the insurance company have my truck moved without my permission to avoid storage costs or can the lien holder of the truck give them permission to move the vehicle?
Thanks for any advice.