neighbors garage fire totaled my car

by jessmann » Sat Sep 11, 2010 09:33 pm

my neighbors renters insurance came to look at my car (03 vibe ) there offer will no fix or replace the car can any one help? what are my options?

Total Comments: 3

Posted: Sat Sep 11, 2010 11:54 pm Post Subject:

How did they arrive at the value of your vehicle? You need to review their information to see if it's in error or correct. Why do you think you can't replace it for the amount they came up with? How are you arriving at your value?

Posted: Sun Sep 12, 2010 12:14 pm Post Subject:

What damage was done to your vehicle? What is the estimate to repair? Do you have an independent estimate of the cost to repair?

You will not really be entitled to "replacement", but Actual Cash Value, which equals Replacement Cost minus Depreceiation. The value of your vehicle in your mind is probably very different from ACV, which is usually the basis of a "dispute".

Posted: Sun Sep 12, 2010 01:56 pm Post Subject:

There is a chance that they have paid policy limits on the rental policy for Damage to Property of Others.

It is common that this amount is small due to the potential for fraud and that renters tend (not everyone) to take a lackadasical attitude toward rental properties and their neighbors.

Just ask the insurance carrier how they got to the amount they paid you. Obviously they are willing to talk to you as they had to deal with you in order to evaluate your damages and issue the first check.

Unless the cause and origin of that fire is found to be "at fault" of the renter or the landlord, I am surprised they are paying anything.

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