A lady ran a stop sign and hit my passenger front end she did $3000 worth of damages. They totaled my car as a loss. They only want to give me $1000
Free Insurance Quote Comparison
Secured with SHA-256 Encryption
UPDATED: Mar 7, 2012
It’s all about you. We want to help you make the right legal decisions.
We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.
Insurance Question from Bethel Heights, AR
Asked on 03/07/2012
A lady ran a stop sign and hit my passenger front end she did $3000 worth of damages. They totaled my car as a loss. They only want to give me $1000 They only want to give me $1000 for it and i still owe $2240 for the car. What do i do?
Answer given on March 11, 2012
If your car was totaled in an accident the insurance company is only responsible to pay you the actual cash value of the car, even if you owe more than that amount on the car. You should check to see if you have gap insurance on the car through the insurance company or through the auto loan company. If so, they will pay off the balance of the loan. However, you still won’t have any money left over for a new car.You can check local ads for a similar car to see if you can get the amount of payment increased by the insurance company. You can use internet ads or local car dealers and newspapers. It is on you to prove that you car was worth the higher amount. Mileage and condition of the car will obviously have an effect on the value of the car.
IMPORTANT NOTICE: These answers are for general information purposes only and are provided by the person answering and FreeAdvice.com AS IS. It has not necessarily been reviewed by the management staff of FreeAdvice.com nor is it binding any insurance agent, broker, or other insurance professional or any attorney or insurance company. Insurance laws, regulations and practices vary from state to state and insurance policies and practices differ from company to company, by type of policy, by state and locality and by type of insurance. Tiny variations in the facts, policy language or a detail not set forth in a question often can change the outcome or a professional's conclusion. Although FreeAdvice.com has confirmed that the answer(s) was/were provided for the account of an experienced insurance professional, that professional may not be licensed in the state referred to in the question, and may not be experienced or up to date in the subject area. Unlike the answers provided here, upon which you should NOT rely, for personal advice you can rely upon we suggest you consult a licensed insurance professional in your area or retain a licensed attorney listed on AttorneyPages.com to represent you.