if my car is a write off and the insurance won't pay what we owe can we sue the person at fault?

Question

my husband got in a car accident when someone ran a stop sign the other person is at fault we have a police report stating the other person is at fault. If our car is a write off and the fair market value is less than what we still owe on it can we take the person at fault to small claims court to pay the difference?

the cars blue book value is 4000 we owe 7000 on it will our insurance company make the other insurance company pay the full 7000 or only what the blue book value is

Answer 1

Think of it this way: If you had paid cash for the car, how much would you be entitled to for damages? There's no difference. Financing is your problem, not the other guy.

As was mentioned earlier, this is what Gap Insurance is for. It is insurance for your financing on the vehicle. It covers the difference in the value of the loan and the value of the car.

Answer 2

Doubt it. The insurance company is liable for the book value of the car. They do not have any control over the fact that you may have overpayed for the car. many people carry Gap insurance on their own vehicle to avoid this. Gap insurance covers the difference in the book value and what is owed. A new car, driven off the lot depreciates by thousands of dollars immediately.

Answer 3

The book value of the car is all you are entittled to. Many people have loans covering the last 2 cars because they traded it in for the car they now have with a balance left.. Bottom line all you are entittled to is the book value of the car damaged.

Answer 4

Of course. You can sue someone at any time for any reason. All that it will get you is an order from a judge to pay the damages. You can report it on their credit report if they do not. They may not get you any money though.

Answer 5

Their insurance will pay if they had uninsured or underinsured coverage. Call your insurance and ask them to check.

Answer 6

yes

Answer 7

yes .SUESUESUESUE