"Thank you for the response. I did have CSAAA insurance when I first got the car; however, when I lost my job the finance company said,"Oh don't worry, we can get you less expensive insurance". So I did have insurance when I first got the car, the vague and abiguous insurance came later. How does this equal responsibility thing work? The insurance company is telling us the law states each party pays for 50% of the damage to the other party, but that doesn't seems fair if you have a case like mine where someone has 4 times the amount of damage. If this is true then what about them paying my damages (they haven't)? What about the license suspension issue since I have had the correct coverage since October? I agree that I should have let her go around me, but I think her following that close she would have hit me no matter what I did. I am going to try the binding arbitration idea, however, but I would like to know about my other questions. Thanks.
Okay, you had insurance when you first got the car. So what? You admit that you lost your job, and as a result, lost your "good" insurance. When the finance company found this fact out, they became a little nervous about THEIR investment (the car). You are imbued, by law in most all States, to know what kind of insurance you buy, and its terms and conditions - - like any other contract; say, for a house, your credit cards, construction, etc. You bought single limit insurance from the finance company because it was cheap, all you could afford, and the finance company was only interested in PROTECTING their car, not you or others that you might injure. All they care about (and rightly so) is that their car is protected. That is the extent of their obligation; to protect their car until it's paid off. The car finance contract says, "No insurance? We take the car back," or words to that effect. Didn't it seem strange to you that you were paying far, far less for insurance than you had before? If insurance were that cheap, wouldn't you have gotten a policy like that a long time ago? They gave you, or your were sent, a Single Limit policy that spelled out all of the terms and conditions. Bottom line: You failed to know what the finance company "insurance" protected, and "single limit" insurance NEVER meets any State's minimums for liability, of which you had no liability coverage. In effect, you had no insurance covering your liability, and that's why the DMV is going to take your license and why you'll be fined. You never said what State you're in, so I can't address your other State specific questions.
Take the arbitration route. That's your best hope; or, you can take the other person to Small Claims Court. Best of luck to you.
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