If 4 months ago I was in an accident that was my fault, what am I liable for?

UPDATED: Sep 30, 2022

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If 4 months ago I was in an accident that was my fault, what am I liable for?

It was a 3 car accident. All cars were totaled and my insurance paid to cover for all cars at market value. I got a letter in the mail from an attorney who is representing one of the persons that was involved asking for $2500 that she spent on the down payment of the car that was damaged.They first tried to get the money from my insurance complany. Am I liable for this?

Asked on December 2, 2015 under Accident Law, Tennessee


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

If you are at fault in damaging or destroying another's property, you are liable for the then-current fair market (or for a car, "blue book") value of the property--you are not typically liable for additional amounts that the person paid for it, like a down payment. If she received market value from your insurer, she has probably already received what she is entitled to. Also, if your insurer paid this person the market value of her car, they probably gave her a settlement form to sign, which settlement form most likely stated that she was being paid the money in full settlement of her claim(s)--i.e. that she can't seek additional money from their insured (you). You should contact your insurer, tell them about this, and ask if shie signed a settlement and, if so, what it says.
Overally, it is therefore unlikely that, if she already been paid market value for her car, that she can get the extra $2,500 from you.

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