getting what i deserver from auto accident?

Question

I was hit a week ago in my car which i have only had for 4 months. I paid 15400 then for the car and the person who hit me insurance is offering 11400 for car, it was toteled. THey say they just pay the blue book value. I live in missouri and i was wondering if they are just saying that to get off paying what i deserve or if that is the way things are done. ANY info would be greatly appriciated. Thanks

Answer 1

Sorry, that is the way insurance works. They owe you the current worth of the car. Not the pay off price. Not the replacement price.

Yes, that is the way it's done, if it costs more to fix the car than to total it, they will give you the value, adjusted for condition, at the time of loss. Once they pay you, the vehicle becomes theirs and they will take it off to sell parts off it in an attempt to recover some of their losses. If you want to keep it for whatever reason, they will sell it back to you, but that will reduce your settlement considerably.

I wish you well.

Answer 2

The value of a car, any car, is what it is. You can do some research yourself by checking local car lots and ads for similar vehicles and compare prices. If the insurance company does indeed seem low then tell them -- but be prepared to have proof to back you up. Could be you just made a bad deal when you purchased your car. Look at it this way: if you crashed into another car and were going to pay for it yourself would you pay the owner one thin dime MORE than it's worth?

Answer 3

go to the NADA website and check the midwest guide for the month that your car was wrecked. nada.com

NADA is the most used guide for "true" car values.

The Kelley Blue Book Suggested Retail Value is representative of dealers' asking prices and is the starting point for negotiation between a consumer and a dealer.

what this means is: this is not the selling price of cars.

that is why Kelley Blue Book is basically worthless, unless you are a car salesperson and want fake numbers that make it look like you are giving someone a great deal.

Answer 4

The industry standard is to pay the Actual Cash Value, unless the policy is written for a different amount or agreement. Check the policy language, but I bet you'll find they are right on the money.

Remember - everyone drives a used car. Why pay for a new one?

Answer 5

First, they pay the actual cash value for the car, not KBB (if they gave you KBB, I am HIGHLY surprised, because this is just a guide--not fact). This is industry standard, KBB is not.

Second, this is why you should carry the proper coverage, GAP insurance, or be insured with a company like 21st Century or Allstate or AAA that offers new car replacement if yours is totaled within the first 3 years.

Answer 6

Let this be a lesson to you. Never buy a new car. New cars lose about 20-30 percent of their value as soon as you drive it off the lot.

If it is a used car, do your research and don't overpay.

But, you may be able to get a bit more if you can prove the car was in excellent condition.

Answer 7

Do research they are trying to save as much money as possible. Same thing happened to me. Someone hit me but I proved that my car was worth more. From the aftermarket things I installed, i said it was worth 2 grand more. They ended up fixing it and didn't total it. Now I just have to get my deduction back.
Anyway: if you paid more show it is worth more. go to cars.com or autotrader.com get the car that is closest and show them it is worth more. Look for cars that are exactly the same as yours!
good luck. Just DO NOT take the first offer. DO your homework then respond!

Answer 8

bottem line get the book value and sue for pain and suffering and loss of wages from being hurt and unable to make money

Answer 9

Must you keep the MAKE, MODEL, and year a secret?

Maybe you got screwed royal.