What is the name of your state?What is the name of your state? NY
My wife was rear ended while at a stop light. It has been determined that the person who hit her was at fault. Our car has been totaled and his insurance company will only pay blue book which is $2400 less than we owe on the vehicle. We don’t have GAP insurance to cover the difference and my wife has seen the doctor and told she has whiplash. His insurance company told us that NY State law requires the insurance companies to pay only blue book value and they cannot pay more than that because we are not allowed to profit from the accident. I’m not sure how owing $2400 is profiting. We still owe the money and I was told by the dealership that it would be due immediately now that the car has been totaled. Is there anything that can be done to collect this money. We contacted a local attorney yesterday and he said no. I’m writing this in hopes that someone will give us some options. The insurance company is trying to push this settlement down our throats.
Thank you.
My wife was rear ended while at a stop light. It has been determined that the person who hit her was at fault. Our car has been totaled and his insurance company will only pay blue book which is $2400 less than we owe on the vehicle. We don’t have GAP insurance to cover the difference and my wife has seen the doctor and told she has whiplash. His insurance company told us that NY State law requires the insurance companies to pay only blue book value and they cannot pay more than that because we are not allowed to profit from the accident. I’m not sure how owing $2400 is profiting. We still owe the money and I was told by the dealership that it would be due immediately now that the car has been totaled. Is there anything that can be done to collect this money. We contacted a local attorney yesterday and he said no. I’m writing this in hopes that someone will give us some options. The insurance company is trying to push this settlement down our throats.
Thank you.