I got in a car accident, what can I do (insurance)?
About two weeks ago I got hit by a car and got my car destroyed. I drove an old Toyota Camry that I bought about 4 years ago I paid 3500 dollars. Last year i painted the car and put new michelin tires and for the total of almost 1000 dollars. The thing is, the insurance of the other guy is only giving me 2000 because supposedly the car had a salvage tittle and it was old, so at the end I still end up loosing. Anything I can do?
- ron hLv 72 months ago
after 4 years of driving a SALVAGE TITLE, loosing $1500 is pretty reasonable. You COULD tell that ins co that you need another $500, or you'll go see a lawyer. $1500/4 years ain't that much to spend on a ride.
- Obi Wan KnievelLv 72 months ago
Yeah there's something you can do. But you're not going to do it.
If you really truly think your car is actually worth more than the other idiot's insurance company is offering, all you need to do is prove them wrong. But only one thing counts as proof, and it's going to cost you money and time.
Forget KBB.com, forget AutoTrader and forget all your amateur research. The insurance company's offer is based on a professional assessment of your vehicle's actual cash (depreciated retail) value, and the only thing that they'll even acknowledge is another professional assessment. You need to hire a professional appraiser to complete a written assessment of your vehicle's value on a without-prejudice basis (that's a legal term that any professional will know), and you need to submit that appraisal to the court. You also need to hope and pray that your appraised value is significantly higher than what the insurance company is offering you.
Unless you get an independent professional appraisal, and unless that appraisal is higher than the insurance company's offer, you have nothing.
- curtisports2Lv 72 months ago
No. You had $4,500 into it and you got four years out of it and you are getting book value for the car as it sat before the accident. When it will cost more than book value to repair, you get book value. All you can do is get your own claims adjuster to argue with the insurance company that it's worth more than they say it is - which is one of the things your insurance company does for you if you go through them. If you deal directly with the other company, you have to fight it out with them.
But let's say the book value is the $2,000. You got four years use out of it for $2,500, or for $625 a year. That's a monthly car payment of $52. Pretty damn cheap. You aren't losing anything. You would be lucky to get the same $2,000 on a trade if it hadn't been totaled. More likely a dealer would tell you they're giving you $3k or $4k when they're really giving you somewhere between $0 and $500.
- oklatomLv 72 months ago
You are not losing, all the at fault insurance owes you is fair market value of the car. They do not owe you for maintenance to your car in a 4 year period, so you are not seeing a loss.
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- zipperLv 62 months ago
Look the book value up if it is more ask for it, if not take that money and buy a good used American made car; make The Donald proud of you!
- regeruggedLv 72 months ago
Your claim is limited to the value of the vehicle. Do a search on www.cargurus.com or any other used car site to see what similar vehicles are selling for.
- MayLv 52 months ago
You can't do much.
You can try to find other like cars in like condition and see what they have sold for or what they are worth according to automobile "book" values. Show that evidence to to the liable insurance company and ask that they reconsider their offer. The new paint job means nothing to the insurance company and the new tires mean little since all cars have both.
- babyboomer1001Lv 72 months ago
They are giving you what the car is currently worth. You bought the car FOUR YEARS ago. It has depreciated since then. It is no longer worth what you paid. If you have the receipt for the tires and can prove that the paint job was recent and you ought to be paid $1,000, then sue the driver. You aren't going to get anything more from the insurance company because they are only required to pay what the car is worth, according to KBB - average condition for the age.Source(s): Certified Paralegal, with 25+ years' experience.
- Pearl LLv 72 months ago
you could try talking to a lawyer about it
- RonLv 72 months ago