by syancey727 » Wed Jun 17, 2009 02:20 pm
I have a 2008 Kia optima with less than 8000 miles that was hit at a stopped light by a driver not seeing the red light and smashing me into the car in front of me. We were at a dead stop, not slowing, not moving, 4 lanes, nowhere to go to avoid oncoming fast moving car in rear view mirror. The driver and all witnesses are in agreement and the driver at fault has insurance and my vehicle has been taken to dealership body shop. My concern is, with owning the car less than a year, I believe I am going to incure a large financial loss weather the car is totaled or repaired. I put money down so gap coverage is not the issue, but if they total it, and I have to buy a new one, I pay taxes again - basically, my 10 months of paymenst have paid taxes and interest and depreciation - the car still has new car smell - perfect condition. Is there anyway to negotiate cost of having pay taxes on the new vehicle I must purchase. I should not incure expenses to replace vehicle and I will. If they fix the vehicle, the trade value will be greatly reduced and I won't be able to sell outright because of carfax and an accident with such high repairs. The body shop is disassembling now and says it is border line if it will be totalled to much damage to make quote until dissassembled. Of course, I am receiving numerous lawyer letters everyday, but I not seeking extra benifits, just wanting to come out even. Any suggestions on how not to lose thousands on this situation, that was no fault of my own
Posted: Sun Jul 05, 2009 10:08 am Post Subject: insurance
Sounds similiar to what I went through. When I wrecked my vehicle and it was 'totaled', theother driver;s Insurance Company said it was just too unsafe to drive, at that point (bent the frame, bent 2 brackets, etc). The other Insurance company DID 'add on' price for the registration, etc....to the Kelly Blue Book, of my vehicle. They determined the price by looking at the condition of the car, the mileage on it, etc. I thought the price they gave me was pretty fair.
Posted: Mon Jul 06, 2009 08:39 am Post Subject:
I guess it should be forced otherwise it will mean, lower the policy limits, better the advantage of not paying the insured sum thus lesser the premium!!!
Why would the insurer pay more than the policy limit? The insured is responsible for carrying sufficient coverage to protect himself against lawsuits.
It's the insured who has caused you the damages and not the insurance company. Therefore you can't have them pay more than the policy limit. If your damages are worth more than the insurance limit of the other party, you would be awarded with a judgement and can collect it even by garnishing the wage of the responsible driver.
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