Can I be forced to accept a settlement offer for my totaled car if I feel it is an unfair offer?

Question

The first offer was ridiculously low, I refused..5 days later I was offered $300 more, which is still too low...this was yesterday, he left the offer on my answering machine first thing in the morning...by 1'oclock, I got a call from the car rental place that they had just recieved a call to lapse the rental as of 6pm that day...day before Thanksgiving, real nice, eh? So I took the rental car back. Now this guy has nothing to hold over my head. Just yesterday I had 5 messages on my machine demanding I send the signed title and repeating the "new settlement amount" as he called it. Should I stick to my guns if I really feel Im being treated unfairly? Can he withdrawl the offer and lower it based on my refusing to accept it? Is there a time limit, either for him or for me, that this has to be resolved? The accident was a clear cut case as far as the other driver being at fault, she even admitted it in her statement and was ticketed for failing to drive on the correct side of the road

Answer 1

First, it has nothing to do with who was at fault.

Second, the insurance company's job is to minimize their outlay. If you "feel" they are offering enough, then youa re out of luck. BUT if you prove they are not offering enough, then you have leverage. Go to e-bay and find similar cars to yours (mileage and options) and see what they are selling for. Go to www.edmunds.com and enter in your information and see what your car is "valued" at. Then provide those to the insurance agent to support your position that the value is higher.

Third, do not sign over the title until you get a signed statement from the insurance company agreeing on the amount. But remind them that they are liable for all the costs that it continues to incur (this may or may not be correct).

Fourth, regarding the rental car, that depends on who's policy it is. If it is the other party's, then they are probably ok to terminate it. If it is your policy, then I don't think they are until they provide new transportation (or the funds).

Fifth, contrary to what the other respondent said, you are not looking at retail replacement cost. Would be nice, but not necessarily the case.

Sixth, always stay icy calm with the insurance person. If you get emotional, then they know they have won.

Good luck.

Answer 2

Of course not, but just because you feel it's unfair doesn't necessarily mean it is unfair.

To start with, there doesn't seem to be any question that the accident was not your fault, which is why they are trying to settle. You are only entitled to a rental for the average time it takes to settle, you can't keep that forever, so they were right in ending that, there has to come a time, whether or not you have accepted the offer, that they draw a line as regards rental cars, otherwise you could keep it for years (which is how long it can drag out sometimes).

Now, you didn't say year make and model so I can't attempt to give a figure, but what you are entitled to is your actual loss, which would be the value of your vehicle at the time of loss. Not the pay off price, not the replacement value, just the actual value of the vehicle at the time of loss. Of course you are also entitled to have any medical expenses reimbursed, that type of thing.

Go to http://www.kbb.com (Kelly Blue Book) and get some idea of what your vehicle was worth--that's what they 'owe' you.

You can take the advice others are sure to give, hire a lawyer and sue for more, but I can tell you from experience that will drag it out forever while your attorney and their attorneys battle it out, and in the end only the attorneys win.

But back to the question: Can you be forced to accept? Of course not, with or without an attorney. I do wish you luck.

Answer 3

If they're offering you Blue Book retail value, accept the offer. If you have hard evidence to indicate that their offer is low, provide them with copies of the proof.

What you get does not matter who was at fault for the accident, nor does it matter that you might owe more on the vehicle than it's worth.

Yes, they can withdraw the offer at any time.

You could try to sue for more, but you'll be waiting for several years for your settlement if you do. And there's no guarantee that you'll get your attorney's fees so you could well end up with zero once you pay your attorney.

Look up your car's retail value on http://www.kbb.com or http://www.nada.com and compare the value to what they are offering. If they're offering you something close to the retail value your only option is to accept the offer. If they're offering less, tell them what your estimate is and how you arrived at it and ask them to justify their offer. Keep in mind that if your car had any pre-existing damage they are fully within their rights to deduct for that damage.

Finally, negotiate with the adjuster. Don't play phone-tag with him or her. It's very easy to low-ball an answering machine. Argue your case calmly and intelligently. Don't make hollow threats -- if you threaten to sue, be prepared to follow through with a lawsuit as they'll call your bluff on that if they're making a good-faith offer.

Answer 4

that's extremely atypical that they might supply you a settlement while you're basically 2 months at the back of. often, mastercard debt does not get charged off till you're approximately a hundred and twenty days late. in case you do comply with a settlement, you recognize they are going to close your account in the event that they have not already. Settling for 70% of the quantity due once you're basically 2 mos at the back of is extremely extraordinarily stable. maximum circumstances they do no longer initiate offering settlements till months if no longer years later. something you do, might desire to be put in writing. you may call them and supply them a lump sum in case you have some money handy, yet make certain in the event that they adjust to it, which you have them deliver you a letter outlining the words, and then deliver them a money order. do no longer deliver them any lump sum till you get the settlement in writing. they won't do a pay for delete in this merchandise nonetheless. maximum you may anticipate is it to have a PAID next to it on your credit rfile.

Answer 5

No, can`t force it on you. Tell him you don`t like the offer and have decided to seek a lawyer. He won`t like that. Then give him your counter offer. Just a little over what you want so you can come down and make it look like you are trying to reach a settlement. You are looking to end up with a comprimise between the two. Have a fun turkey day.

Answer 6

The insurance company can at any time, withdraw an offer of settlement. You should RUN, not walk to an attorney. It would appear you have a pretty good case if the insurance company is in such a rush to settle.

Good luck!

Answer 7

No one can "force" you to do anything you don't want to do. I'd be tempted to get a message back that you are thinking of employing an attorney because of the inadequacies of the offers. Don't have a clue as to what the time limit might be and, yes, he can withdraw offers. They are, however, apparently liable. Tell them what you want very clearly.

Answer 8

no body can force you but once the offer is made it get's them off the hook on the rental maybe,that happened to me you will never get the amount its worth only a %. there is ins. commisions in each state. good luck. take the money and get on with your life it dosen't sound like you got hurt,thats important.

Answer 9

If the offer is fair market value, suck it up, take the check. If there is an arbitration process, or a complaint procedure you can follow, then explore that avenue too.

Answer 10

Lots of talk, not enough information here.

WHY DON'T YOU JUST TELL US WHAT KIND OF CAR AND HOW MUCH OFFERED so sombody can tell if they are really trying to shaft you? All this blather doesn't mean anything.