Auto Accident: Damage Settlement not Injury Settlement
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?