Question:
A week ago a CR-V crashed into three cars, mine was one of them a Dodge Intrepid 1997, 140,000mi. and in good condition. Now my car was declared totaled and the insurace company wants me to settle for $2,000. That can't even get me a used car.
What in the world am I supposed to do? I have never been in this situation. Can I sue or ? I think they are in no hurry to do anything because my car has been sitting infront of my place for two weeks and not in a storage lot.??????
Answers:
usa driver +licence&idl needs uk car insurance/own car?
I am assuming you don't have collision coverage, otherwise stop reading this and use that.Has anyone actually sold a vehicle registration number?
You can request the insurance company provide you with all the paperwork as to how they reached the value of your car. They compare street value with pre-set values that all insurance companies use...The method to total and value a vehicle is basically standard amongst all insurance companies. They have been challenged repeatedly in court and constantly upheld.
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Once you see how they reached the value, you may be able to question it (They may not have included the new tires or transmission you put in and have a receipt to prove). They will list the costs of similiar cars in the area (check to make sure they didn't miss any).
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The other question is to see how much coverage the at-fault person had. Did he have only $5,000 or $10,000 in coverage that is being prorated among three cars (Your actual cash value ACV may be $5,000, but they have to divide up the policy for all of you). If that is the case, you may consider suing the guy directly for the difference of the ACV and what the insurance company is willing to pay, but good luck, because you will probably never collect on something like that and just spend a lot of your own money and time.
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We are at the end of the year and insurance companies are looking to close as many files as possible. Use that to your advantage and see if they will give you a little more. Otherwise, you may have to take what they offer and just suffer with it.
The insurece company can only give you blue book value for the total car.
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buy a news paper clip out adds 4 a 97s and bring them to ur adjuster dont settle till u get a fair price but remember this there price is always a bit lower the ursMost major insurance companies base their settlement of a wrecked vehicle on what the car would sell for on the street right now.
Totaled a friends car. Has a loan on it still but no collision insurrance. Am i responsible?
Usually that amount is more than you would get if you traded the vehicle in at a dealership, but right around what you would get if you sold the car to a private party.
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I took a loss in my 2002 Chevrolet Malibu being smashed by another driver, my insurance gave me $ 9,000 which was much more than I would get in a dealer trade but slighly less than the same car sitting on a used car lot would cost. However, that settlement paid off the loan and gave me a little to put down on a new car, I had to come up with the rest of the down payment out of my savings.
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Its not fair, I know, my insurance was willing to give me a rental during the time I didn't have a car but I'd have to pay 20% of it.
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Also my insurance gave me my deductible back and reimbursed me for gas during the time I borrowed a relative's car (I didn't accept their rental offer), so it not all bad but in the end it will cost you, hopefully you have a rainy day fund or some nice relatives.
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So all I can tell you is try and find a nice used car, or seriously look into talking to a lawyer and if you live in Illinois and have a serious accident, several lawyers will contact you (they check the police reports), and you may have a case but it will take time, you'll still need to buy a car.
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Good Luck!
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try going to kbb.com and putting in all your info. $2000 is on the low end of what I saw as good for your carIf you scroll down your question has literally been asked atleast 3 times in the past 24 hours.
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Look- it sucks your cars not worth alot.. but its 10 years old and has 140000 miles on it. The insurance company ONLY owes you what your vehicle is worth- the actual cash value. I just looked up your vehicles worth and here it is:
$2,460.
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And that amount is before any prior damage is taken off.
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All "sueing" is going to do is waste you time and money- people throw the word "sue" on here like they know what they are talking about. You will get laughed out of court. You will get the amount that will buy you equivalent to your car you have now.. sorry.. they arent going to upgrade you to a newer car for free.
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I have SOO much trouble understanding how people think this situation is unfair. WHy would you possibly get more then what your car is worth? BTW... dont use kelly blue book. NADA.com is where you need to look. Just because you think the amount that they are giving you for your car sucks.... doesnt mean its unfair.
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