auto accident

[ekk]

I was involved in auto accident. Elderly lady decided not to look before crossing highway and t-boned me(ran in to the driver side) while I was travleing 60 mph. Clearly her fault. The insurance company has declared my vehicle a total loss but will not pay what I owe on the car. Help

 

[I AM ALWAYS LIABLE]

I was involved in auto accident. Elderly lady decided not to look before crossing highway and t-boned me(ran in to the driver side) while I was travleing 60 mph. Clearly her fault. The insurance company has declared my vehicle a total loss but will not pay what I owe on the car. Help

My response:

Insurance companies do not pay off loans. They are only obligated to pay an amount that is based upon the reasonable, "fair market value" as of the date of loss.

IAAL

 

[ekk]

I understand that insurance companies do not pay off loans. However, the adjuster will not accept fair market value. I compiled a list of 10 cars(similiar to my make and model with the same options) in a 200 mile radius and asked only for the average price of the car. I did not ask for high end. I just would like to be able to buy the same type of car that I had. The side air bag saved my life. The adjuster told me that state law requires her to use NADA value of the car instead of fair market value. I called the state insurance commissioner. He says that they are to at least pay the minumum value that the NADA requires but can pay any amount they choose as long as it is least for the minimum. Can I recover the difference under "pain and suffering." I did not want to file a personal injury claim as I think that I will heal without any type of disability. It seems to me that a insurance adjuster would pay the difference instead of risking this going to court. Advice?

 

[I AM ALWAYS LIABLE]

I understand that insurance companies do not pay off loans.

My response:

Okay, if you understand the concept, then why did you say,

"The insurance company . . . will not pay what I owe on the car" ?

Notwithstanding the above confusing and divergent statements, insurance companies don't "think" like you and I do. They would rather pay less, have you reject their offer, and then "hope" you'll either blow the Statute of Limitations or, during the litigation process, make some sort of mistake, or be unable to prove your damages in some manner, or merely give up.

Insurance companies really love it when claimants try to resolve their own claims. Think about it for a moment . . . the adjuster has vast experience in these matters and, in fact, does this for a living - - and, what do you do for a living? Who has the upper hand, the "superior bargaining strength and knowledge" during negotiations ? Who's the one with the money ? Who, between you, can well afford to "wait it out" ? You can have all the facts and logic behind you; but, when they say "No", then what do you do? Argue ? The more you argue, the tighter the adjuster's "resolve" to screw you becomes.

You need to level the playing field; that's what you need. In order to do that, you need your own Personal Injury attorney in your corner. The attorney has as much experience in these matters as the adjuster, and knows what to say, how to say it, and when to say it. The simple fact is, you don't.

IAAL

 

[ekk]

o.k. I submit that I was confusing. I just don't understand why we have to use litigation to have a claim paid "fairly." I have a master's degree in ILR, which includes successful training in negotiaion and arbitration. You would think that I could argue my case. Maybe I should ask for my money back from the college which granted my degree. Anyway, I will seek your advice and retain an attorney. My husband is a ER doc who hates to see all the abuse of personal injury cases. I think I will now apply to law school. Thanks for you help.

 

[I AM ALWAYS LIABLE]

I just don't understand why we have to use litigation to have a claim paid "fairly." I have a master's degree in ILR, which includes successful training in negotiaion and arbitration. You would think that I could argue my case. Maybe I should ask for my money back from the college which granted my degree.

My response:

This is why we have courts. Two, otherwise knowledgeable and educated, people can disagree - - and they often do. You may think that your claim is "cut and dried" - - but an insurance company, or their insured, doesn't have to "roll over" and just give away money. Only until they've had their day in court and a judge or jury tells them otherwise, do they have to pay.

I think you'll agree, and despite your education in negotiation and arbitration, that in order to be successful, you and the other side need to know all the facts and know the laws concerning a particular fact pattern and areas of law involved. Even with your ability to negotiate, if you don't have the proper "tools", or the legal knowledge; i.e., a familiarity with your State's Insurance Statutes and Case Law, you'll never succeed on your own or win a negotiation. That's why I said that the insurance company has superior bargaining strength and knowledge - - the adjuster knows, by law, what he/she can and cannot get away with under the laws. But, I believe you knew this already.

So, don't ask for your money back . . . you just need to place yourself on the same "footing" as the adjuster. And, do it as soon as possible.

IAAL