Totaled car - not fairly reimbursed.

What is the name of your state (only U.S. law)? Illinois
Hello!
My car got rear ended by another car.
I carry just liability coverage on my car, that is why I am dealing with the insurance company of the person who hit me. BTW the case is still pending and my totaled car is still in my garage.

The insurance company gave me much less money than I consider fair price for the totaled car. I confronted them. They made me send them alternative listings of same cars as mine, selling in my area. I did. They turned down the listings and gave me just 2/3 of the listings' price, saying that regarding the Illinois law they are not required to give me the market price of the car.

I haven't started talking about the taxes that I need to pay in order to buy a similar car yet.

I went to a dealership, the manager there told me that I have to ask them for a specific form that I need to submit to the insurance company, so I can claim car taxes paid for the replacement car.(In Illinois they are a lot. 10% of the purchase price + 190 plate and title.)

How can I deal with this insurance company and make them recover my loss?
Can I complain somewhere? Is there a government or insurance organization that can do an investigation.
How do I go about the taxes issue?

Thank you for your time!What is the name of your state (only U.S. law)?

ASKING price for local cars is not necessarily SALES price.

Zigner said:

ASKING price for local cars is not necessarily SALES price.

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True BUT I wouldn't expect that you could in general knock 1/3 off the asking price.

davew128 said:

True BUT I wouldn't expect that you could in general knock 1/3 off the asking price.

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No, but we don't have ALL of the details either

Well, not all cars sell for the asking price. Most people negotiate down. And the average privately owned car is not in "dealer ready" condition, so there is an adjustment for that as well.

If there is an adjustment for that then the insurance company should go and buy me the same car for whatever price, hand me the key, cover the taxes on the purchase price, right? I do not see them doing that, sadly.
Alright, what about the other questions?
Any thoughts?

JoeBo said:

If there is an adjustment for that then the insurance company should go and buy me the same car for whatever price, hand me the key, cover the taxes on the purchase price, right? I do not see them doing that, sadly.
Alright, what about the other questions?
Any thoughts?

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The insurance company is not in the used car buying business.

They are in NO way responsible for ANY of the costs associated with you buying another vehicle. They are ONLY responsible to compensate you for the value of the totalled vehicle in the condition it was in immediately prior to the accident.

JoeBo said:

If there is an adjustment for that then the insurance company should go and buy me the same car for whatever price, hand me the key, cover the taxes on the purchase price, right? I do not see them doing that, sadly.
Alright, what about the other questions?
Any thoughts?

Click to expand...

The insurance company makes money by collecting premiums and not paying claims. They will always try to pay as little as possible.

If you have valid comparative vehicles showing the fair market value of your car and they refuse to pay fair market value, go ahead and sue the owner of the car that hit you.

Insurance companies don't stay in business by IMPROPERLY denying claims or INTENTIONALLY/DISHONESTLY undervaluing total losses either.

So, you are saying that I cannot do anything about it.
Just accept the amount, pay the difference and taxes and go on.
Does not sound fair to me, but...

In no case will the taxes be anyone's responsibility but yours.

You can take what you receive and buy a similar car for a similar amount of money and end up basically where you were before the accident.

You can take the money and get an older/cheaper car and have some more money in your pocket.

You can take the money and put it towards a new or newer car and either pay or finance the difference.

You can take the money and put it ALL in your pocket and start taking the bus or riding your bike.

It's completely up to you.

In tort, the OP has a right to be made whole. What that means is very dependent on statutes or case law. For example, in some instances "made whole" does not include how much less a vehicle is worth (diminution of value) because of an accident as long as it is repaired to proper functioning.

People sometimes forget their beef is with the person who hit them and not with the other party's insurance company. The contractual relationship tends to skew the system. An injured person does not need to agree with the insurance company's offer. If the OP believes he is out the market value of the vehicle plus taxes and license and time to research it, he legally has a right of redress for the court to determine what need be done to be made whole. (If insurance company contract says no more than $17 dollars a day for rental vehicle and no payment of actually replacing the vehicle as opposed to value of the vehicle, that is how much they will pay. It is not indicative as to how much the injured has been hurt.)

The problem gets down to the expense, hassle and uncertainty of court. No one ever gets properly compensated. Insurance companies know that if their final offer is just a bit off of what the law could provide, going to court is a silly proposition. They quote their rule and the other party must take it or sue. And, as I said, suing is a pain.

That's where the OP is now. He can sue for what he was hurt. If the facts are clear, I suspect he might win. But, is the cost of the attorney and the hassle of a lawsuit WORTH the difference between what the insurance company is offering and what the OP believes he is injured?

Probably not.

Thanks for the response.
So, your advice is not to go to court. That is what I thought.
Is there another way to get at least some of my money back?
What would you do if you were in my shoes?
Thanks!

Accept settlement for the fair market value of your vehicle.