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innocent byparker

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gleonard9

Junior Member
My car was totalled when it was hit while parked. I fear my insurance company will not come close to what I feel is Fair Market Value when considering recent upgrades to the car in spite of it's high mileage. Is my next step appealing to the other driver's insurance company? Can I threaten to take them to small claims court? Should I appeal directly to the driver with a threat to go to small claims court? The difference in value is about $1200.

This incident occured in PA, the faulty driver is a PA resident, I am a DE resident.

Thank you.
 


JETX

Senior Member
gleonard9 said:
My car was totalled when it was hit while parked. I fear my insurance company will not come close to what I feel is Fair Market Value when considering recent upgrades to the car in spite of it's high mileage.
EXACTLY what 'upgrades' are you talking about?? And how much??

Is my next step appealing to the other driver's insurance company? Can I threaten to take them to small claims court? Should I appeal directly to the driver with a threat to go to small claims court?
You can do any of the above... or none of them.
 

gleonard9

Junior Member
I had $900 of work done 2 weeks prior to the incident which included 4 new tires, a brake job & a repair to the gas line. Also had transmission replaced at 99,000 miles and have put only 40,000 miles on since. I'm comparing my car's fair market value to a car with 40,000 miles on it as opposed to it's actual mileage of 139,000.

Thank you for the reply.
 

You Are Guilty

Senior Member
gleonard9 said:
I had $900 of work done 2 weeks prior to the incident which included 4 new tires, a brake job & a repair to the gas line. Also had transmission replaced at 99,000 miles and have put only 40,000 miles on since. I'm comparing my car's fair market value to a car with 40,000 miles on it as opposed to it's actual mileage of 139,000.

Thank you for the reply.
lol

No wonder they won't pay - those aren't "upgrades", that's routine maintenance. Still, argue as much as possible, that's the only way to get them to increase their offer.:D
 

JETX

Senior Member
gleonard9 said:
I had $900 of work done 2 weeks prior to the incident which included 4 new tires, a brake job & a repair to the gas line.
The new tires should be factored into the value. Give the insurance company a copy of the receipt. The brake job and gas line are maintenance... and do nothing to enhance the value.

Also had transmission replaced at 99,000 miles and have put only 40,000 miles on since.
Far too many miles to be of value.

I'm comparing my car's fair market value to a car with 40,000 miles on it as opposed to it's actual mileage of 139,000.
Your car has 139k miles on it.... and should be valued as such.

So, if those are your 'claims'.... you have no case to demand, expect or litigate a higher Fair Market Value.
 

gleonard9

Junior Member
I guess I'm looking at asking the other driver for reimbursement of my $900 tires, brakes & gas line repair since it was only two weeks prior to the incident, i hardly got my value for that. Would that claim stand in small claims court?
 

JETX

Senior Member
gleonard9 said:
I guess I'm looking at asking the other driver for reimbursement of my $900 tires, brakes & gas line repair since it was only two weeks prior to the incident, i hardly got my value for that. Would that claim stand in small claims court?
Nope. Those are MAINTENANCE items... and were used by YOU. Your buying new ones was needed because YOU used up the old ones.

Lets play it this way.... lets say you are buying a used car.
The salesman tells you it has new tires. You confirm that the tires are new. Will you pay more for that car than FMV (Fair Market Value)??
I would say, more than likely, as the new tires have a value to them. How much more?? $100??

The salesman tells you it has a new battery. You confirm that the battery is new. Will you pay more for that car than FMV (Fair Market Value)?? Possibly. How much more?? $10??

The salesman tells you it has a new gas line. You confirm that the gas line is new. Will you pay more for that car than FMV (Fair Market Value)?? Probably not.

So, try to negotiate a higher FMV from the insurance company for the tires and the battery. If you succeed, great. If not, then you will have to decide whether to accept their offer, or to decline it. If you decline, then you can sue the driver and try to get the court to set a higher price. Of course, that is unlikely, as you will be facing an attorney in court.... provided to the driver by his insurance company.
 
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