Do I have right to keep my car and still get paid for fair market value of my car ?

What is the name of your state? PA, USA

my car is 1993 mazda, still dirivable, 2 doors and exhaust system damaged by other car drivier, who hited and run, and arrested by police.

his insurance company, Peerless Insurance, offer me $1775 ( fair market value $1856 -$91(prior damage, which I do not know what it is ? )), but asked me to send my car title to Peerless, that mean Peerless ask me to sell my car to Peerless), because the repair cost over $2000.

could anyone kindly help me at following questions ?

1) I need time to raise money to buy a new car, do I have right to keep my car while I get paid for the fair market value $1856, according any laws in PA, USA ?

2) I just replace a new exhaust system 2 months ago at the cost of $600.63, do I have right to claim back this $600.63 ?

3) I keep my car in very good conditon, and very good records, I replace my air condition, breaks, tires in recent years, do I have right to argue the $91 (prior damage, which I do not know what it is ?), and increase my fair market value $1856, which Peerless get from the average of NADA and autosource ?

Thank very much for any help inadvance

john2006PA said:

What is the name of your state? PA, USA

my car is 1993 mazda, still dirivable, 2 doors and exhaust system damaged by other car drivier, who hited and run, and arrested by police.

his insurance company, Peerless Insurance, offer me $1775 ( fair market value $1856 -$91(prior damage, which I do not know what it is ? )), but asked me to send my car title to Peerless, that mean Peerless ask me to sell my car to Peerless), because the repair cost over $2000.

could anyone kindly help me at following questions ?

1) I need time to raise money to buy a new car, do I have right to keep my car while I get paid for the fair market value $1856, according any laws in PA, USA ?

2) I just replace a new exhaust system 2 months ago at the cost of $600.63, do I have right to claim back this $600.63 ?

3) I keep my car in very good conditon, and very good records, I replace my air condition, breaks, tires in recent years, do I have right to argue the $91 (prior damage, which I do not know what it is ?), and increase my fair market value $1856, which Peerless get from the average of NADA and autosource ?

Thank very much for any help inadvance

Click to expand...

YOU get FMV (fair market value..like car, like condition, like mileage, etc.). NOTHING more!

YOU don't get "time" to raise the money". If the car is considered totaled per the insurance co. then "it is what it is". AGAIN...you don't get extra time to raise funds to purchase another vehicle. Your state laws will apply. It's no one's fault that you don't have the $$$ to replace the vehicle.

Is $91.00 really worth your time?

1. You will probably be pleading with the insurance company to come and get the car after you are paid. In theory, once you are paid the car is theirs.

2. The cost of recent repairs generally do not increase the value of the vehicle and thus are not recoverable.

3. See #2. You have the right to negotiate with the insurance company, present all the information you have defending your case. They may give you a little bit more.

Next question....

Where is the car???

If the insurance co. deems it "totaled", and YOU do not agree to the terms....storage fees might end up hitting YOUR WALLET.

Not sure...stand by!!!

shell007 said:

Next question....

Where is the car???

If the insurance co. deems it "totaled", and YOU do not agree to the terms....storage fees might end up hitting YOUR WALLET.

Not sure...stand by!!!

Click to expand...

thanks for the advise, I drove car to my home, and still driving this car daily.

john2006PA said:

thanks for the advise, I drove car to my home, and still driving this car daily.

Click to expand...

OK...stand by because I THINK you can purchase the vehicle back from the insurance co. with a salvaged title (or something like that). I'm not sure of the details, but maybe someone will be along shortly to clarify.

In Ca you can keep the car but the catch is that you have to pay the insurance company back for keeping the car, follow the DMV rules. Such as getting brake inspection, light inspection, etc. It seems that some of the people who posted don't know how hard it is to go out and get a new vehicle.

I understand where you are coming from. I may be in your best bet to keep the car and pay them back. You can ask them how much you will have to buy back the car for.

It seems unfair when we pay so much in insurance premiums but those are the breaks.

Hope this helps!

thanks for all advice and understand.

I use the key word "salvage" to search this forum, found a lot of same cases as mine.

I copy another post "Collect Insurance & Sue!?!" as following:

Well, in some states this is a no-brainer, but not the others. However, common sense should always apply. Here is my take on this:

1) adjusters always underestimate the damages (but agree to values determined at supplemental in body shop). So, if you choose to fix the car, they would pay all of the costs (except for issues below).

2) Any extra equipment may be considered personal property, and unless stolen or damaged would not be covered. Removal/re-installation in another car may be considered damage, and one way to handle it may be to file a property damage claim with that insurance, have it denied and go to small claims. Don't know if it would work, but at least this steals the argument on insurance side.

3) If the car is totalled, you are stuck with two options already explained before. But, in case you want to just get paid, it depends on insurance as far as what is the value they put on it. Two choices are Fair Market Value (higher) or Blue Book (typically lower, that's why you are more likely to get it). In both cases, optional equipment costs may or may not be added, but you need to figure out how to submit that claim specifically, not as part of regular process (as a separate part of policy is involved). This is just like the injury, does not happen automatically, lots of extra paperwork and proof of damages is involved. Now, if discrepancy is considerable, you can also try to sue in small claims, and add to that loss of use, damages to stereo, etc. If claim is higher than limit in small claims, then you can sue in regular court.

Just remember, you are not at fault, and any court would recognize this fact. Insurances do tend to lowball you in such situations, and you need to push back, and strong arm them. They don't want to be stuck in court with a loosing case. Good luck.