What is the name of your state? I live in Texas.
Hi All,
I am a graduate student in University of Texas. During September 2005, I met with a rental car accident in Indiana. I took liability from the rental car company and I declined their CDW since my American Express Blue Card offered my insurance. I dont own a car and hence AMEX told in that case, it would be my primary insurance.
After the accident happened and all the formalities done, I still don't know the outcome of the issue. However, last week I received a letter from some company called Alternative Claims which cc'ed me along with AMEX Claims deptartment and sent details about all the cost like Loss of Use, Diminution of Value, Repair, Administrative Etc. Everything included the total comes to $17,500 dollars. Recently I looked up AMEX agreement and it says it will not cover loss of use / dimunition of value. I am worried because if it is only loss of use, I can pay $600 by myself but if AMEX does not pay administraitive fees + dimunuition of value, my total liability would be like $11,000 dollars.
My questions are as follows:
1. I don't anything about insurance things, since this was my first accident. Will AMEX pay for dimunition?.
2. If it does not pay and I am held liable what should I do? I dont have more than 2000 dollars in my bank. How will they collect money from me?
3. I feel whatever the rental company claimed is ridiculous and bogus. The total cost of car would be 22,000 dolllars. They say they sold it off and still how can they claim 17,500 dolllars. I dont understand. Assuming 5000 dollars for repair, how can they charge another 12,000 for dimunition?
4. What if cannot pay if I am held liable, what will happen then?
5. Will a lawyer be able to help me in my situation?
6. How can I know if I am at-fault or not?
Thanks a lot for all your time in replying to my questions. I am expecting your replies.
Hi All,
I am a graduate student in University of Texas. During September 2005, I met with a rental car accident in Indiana. I took liability from the rental car company and I declined their CDW since my American Express Blue Card offered my insurance. I dont own a car and hence AMEX told in that case, it would be my primary insurance.
After the accident happened and all the formalities done, I still don't know the outcome of the issue. However, last week I received a letter from some company called Alternative Claims which cc'ed me along with AMEX Claims deptartment and sent details about all the cost like Loss of Use, Diminution of Value, Repair, Administrative Etc. Everything included the total comes to $17,500 dollars. Recently I looked up AMEX agreement and it says it will not cover loss of use / dimunition of value. I am worried because if it is only loss of use, I can pay $600 by myself but if AMEX does not pay administraitive fees + dimunuition of value, my total liability would be like $11,000 dollars.
My questions are as follows:
1. I don't anything about insurance things, since this was my first accident. Will AMEX pay for dimunition?.
2. If it does not pay and I am held liable what should I do? I dont have more than 2000 dollars in my bank. How will they collect money from me?
3. I feel whatever the rental company claimed is ridiculous and bogus. The total cost of car would be 22,000 dolllars. They say they sold it off and still how can they claim 17,500 dolllars. I dont understand. Assuming 5000 dollars for repair, how can they charge another 12,000 for dimunition?
4. What if cannot pay if I am held liable, what will happen then?
5. Will a lawyer be able to help me in my situation?
6. How can I know if I am at-fault or not?
Thanks a lot for all your time in replying to my questions. I am expecting your replies.