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Recently in a car wreck question?
I got a new car about 6 months ago for $15k. My car was parked on the side of the road and someone smashed into it totaling the car. The insurance offered me 9k for it so can I sue the driver or the insurance company for the rest of my no fault debt that I am now in?
2 Answers
- Savannah GuyLv 610 years agoFavorite Answer
Ah, you're learning the hard way that insurance covers the market value of the car, not the loan balance. I've been there!
Your options depend on your state's laws. If you know the driver that caused the damage, yes you can sue him for the difference. If he was cited for the accident it's a pretty easy case, perhaps even small claims. In some cases insurance companies may help with this, you should ask your insurance agent what the options are in your state. You may also be able to negotiate a higher payment from your insurance.
- StephenWeinsteinLv 710 years ago
The offer from the insurance company is probably an offer to get 9k instead of being able to sue. You probably do not get the take the 9k and sue. You probably need to pick one or the other, not both.
Even if you sue and win, you get only the value of the car (meaning what it was worth immediately before being hit or what it would be worth now if it had not been hit). You do not get the entire amount of your debt and you do not get the amount that you originally paid for the car.