Hello all and thank you in advance for your kind answers.

My Girlfriend was involved in an accident in November. Here are some key points about the event.
1. Accident Fault - Fault was clearly the other driver Documented in the Police report.
2. Vehicle is currently financed - In both of our names so I have a valid reason for being involved with the negotiation proceedings since it was also my property involved.
3. This question is about dealing with the Insurance company on the Damage to the vehicle not the Personal Injury.

We have been contacted by the other drivers insurance and they have offered a settlement. The amount is $2600.00 the total remaining balance on the vehicle note is $5300.00. The vehicle is a total loss. (passenger side door is now residing in the driver seat) The insurance company knows this and is dealing with it as so. I believe that I should be able to collect the payoff amount from the insurance company for several reasons.

1. The accident was their clients fault
2. Had the accident no occurred I would still have a vehicle to drive
3. The cash value of the car may be $2600 but the damage to me is $5300
4. The insurance company has an obligation to put me where I was before the $2600 does not put me where I was before it leaves me without a vehicle and $2500 in the hole. That is hardley putting me where I was before the accident.

The insurance company is telling me that this is a cash value policy and they will not pay more that the $2600.00

What would your advice be in dealing with the insurance company?

ScottGem

I suspect your uncle is an affiliated shop or it maybe he's licensed by the locality so his supplements are accepted. But there is a lot of dishonesty in the body shop industry, so its much easier to work with an authorized shop.

sideoutshu

First off, it doesn't matter how "the policy was written" for the other party. That would impact on the other party collecting from their own company, not you. You are not in a position to pick and choose the type of insurance policy of the person who hits you. Liability coverage is mandatory because you have to be able to compensate for the value of anything you destroy as a result of your own fault.

Now, what the value is.....is a different story. I usually handle property damage claims as a courtesy to those who I am representing for personal injuries. You have a couple of avenues you can go down. It really won't pay to get an attorney as there is so little at issue.

1. Talk to your own insurance company regarding the value of your vehicle. Usually in instances where there is shared fault, insurance companies will negotiate between themselves to determine the appropriate payout. Talking to your agent can't hurt.

2. Look into the possibility of arbitration. Ask the insurance company to send you the offer in writing, and the documents they send you will usually include provisions for arbitration in the event that you can't come to an agreement. It may be different across different states, but it may be as simple as filling out a form they send to you. Once you get before an arbitrator, you will present evidence as to what you believe the value of the car was. If the documents don't provide for same, ask for a COMPLETE copy of the policy uder which payment is being offered.

Probably the easiest thing to do, is just straight out ask the adjuster over the phone "what do I do if I don't agree with your assessment". They will probably tell you what the exact procedure is.

s_cianci

Since the vehicle is totaled, the insurance company should be paying you the book value of the car, which does not necessarily equal the payoff balance. If the other driver's coverage is limited, then you can try to recover the difference from your own insurance (protection against uninsured/underinsured drivers) or directly from the other driver.

kdakak

The insurance co will only pay you what your car was worth just before the accident.Most companies will offer the least amount for a total loss.If you believe that your car is worth more than get an independent licensed arbitrator to come up with an amount.Then present that to the insurance co.If they refuse than invoke the arbitration procedure.
Also did you suffer loss of earnings, rental car expense? If you did not rent a car than claim loss of use allowance of $20.00 per day.
Do not cash any checks nor sign the title till you settle on the amounts in writing.