by rcazares87 » Mon Jun 08, 2009 05:21 am
my husband friend crash my car i was a total lose his inusrance paid me 8,000 but i was still own 5,400 to the diler so i just get 2,500 i dont have a car rigth now and he dosent want to help me with more money i paid 12,000 for my car. i really dont have money to buy another car at this moment. i need to know if i can do somenthing to make him paid me more mony? and one more thing he was drunk when he crash my car and he lies to his insurance! please help me!
Posted: Mon Jun 08, 2009 07:09 am Post Subject:
Dear rcazares87,
and one more thing he was drunk when he crash my car and he lies to his insurance! please help me!
He should get booked for driving under the influence. What does your insurance carrier say? It's a different thing that he was the party at-fault.
I'd just like to know a few more things-
Where did this accident take place? Did you have any witness or taken any pics?
Steven
Posted: Mon Jun 08, 2009 10:57 am Post Subject:
and one more thing he was drunk when he crash my car and he lies to his insurance! please help me!
He lied to the insurance about what?
The insurance company wouldn't necessarily deny claim even if the insured was drunk. So I couldn't really understand this part.
Wasn't he booked for driving under influence by the police at the spot?
One thing I'd like to make clear that the insurance company owes only the actual cash value of the car. You might have paid more on the car but they would only consider the actual cash value.
Let me know if I can be of more help.
Posted: Mon Jun 08, 2009 10:57 am Post Subject:
rc...your post is alittle confusing...first off why did you allow a drunk to drive your car? How would 'his' insurance company have paid instead of yours? That makes no sense you have a lein holder...did you purchase GAP insurance when you bought your car? You need to explain to us how 'his' insurance instead of 'your insurance' (ins on the car) even got involved?
You can always sue him in small claims court for the balance of your note...all carriers owe you is the ACV (actual cash value) of your vehicle...they don't owe for you being upside down...however, I think a small claims court judge just might see it your way...
Posted: Mon Jun 08, 2009 12:20 pm Post Subject:
If you had a lien on the vehicle then you should have been required to carry collision insurance. If so, it should have been primary. I see no reason why the drivers insurance company would pay for this loss as your's should have been primary.
What anyone would owe on your vehicle is the ACV... no more. Why do you think someone should pay more then what you lost? If you lost an $8000 vehicle and they paid you $8000, then you were paid the full amount owed. You would not be entitled to more. You had an $8000 vehicle and owed $5000, go out and buy another $8000 vehicle, put the $2500 down and your right back were you started before the accident. You claim you don't have any money to buy a car yet you were paid $2500 so I don't see why you don't have any money.
Posted: Mon Jun 08, 2009 12:57 pm Post Subject:
i paid 12,000 for my car.
so...you aren't suggesting that he owes you that are you? Forget what I said re: small claims court I mis-read your post...I thought you still owed 2500 to your lein holder, or dealer...It appears you have been fairly compensated for your loss...IF (as I'd almost bet) it was your carrier not his...he should (ethically) pay your deductible...that's it.Posted: Mon Jun 08, 2009 04:01 pm Post Subject:
The only time that I have ever disagreed with an auto insurance company paying ACV is as follows:
A friend of mine had a 1990 Honda Accord with an incredible amount of miles. The car was in immaculate condition inside, but was a little worse for the wear on the outside. The car had a rebuilt engine, new transmission, and a lot of work done to it. Simply put, it was a good and reliable daily driver.
Somebody hit him and totalled the vehicle. The insurance company paid him $638.
When he questioned it, they told him he lost a $638 car and they paid him for it. He responded that he could NOT replace the car for $638 and that the accident (and their insured's carelessness) would cost him a lot more than the $638.
He, unfortunately, had to threaten to retain a lawyer and make a big deal out of the accident. When he did, the insurance company responded and said they would add to the value because of all the new parts. They agreed to give him an additional $1000, which he accepted.
Posted: Mon Jun 08, 2009 04:22 pm Post Subject:
The only time that I have ever disagreed with an auto insurance company paying ACV is as follows:
He, unfortunately, had to threaten to retain a lawyer and make a big deal out of the accident. When he did, the insurance company responded and said they would add to the value because of all the new parts. They agreed to give him an additional $1000, which he accepted
In this case it was not a problem paying ACV, vs RCV... it was that the insurance company did not have the _correct_ ACV. ACV was still paid at $1000.In the case of older vehicles with high miles it requires some thought process as book values are not very accurate when it comes to these vehicles. The _adjuster- needs to consider the over-all condition of the vehicle and modify the reported value accordingly.
Posted: Mon Jun 08, 2009 11:25 pm Post Subject:
Looks like they evaluated your friends vehicle as what we call, 'basic transportation', which carries an ACV of 500-1500, depending on the vehicle...his car was worth about 500 bucks, but if he could prove the rebuilt motor, and tranny, then I agree it was worth more...Sounds to me like he has an inexperienced adjuster...or a jerk.. :roll:
The general public has the misconception that routine maintence increases a vehicles value, (not your friends car, that is different)...If I had a nickle for every time, when figuring an ACV the owner tells me, 'I just put new brakes on the car, had the oil changed, replaced a tie rod or strut, so that makes it worth more'...well I'd have a nice little chunk of money...when figuring an ACV it is assumed the vehicle is in good running order..(setting on a used car lot)...however, when a vehicle with 200k miles has had a motor replaced with one that has (say) 50k on it, that DOES increase it's value (some)...
Posted: Tue Jun 09, 2009 03:23 pm Post Subject: insurance
Well, OP..if you ARE getting $2600.00 paid to you, then you DO have money for a used car, anyway. I'm curious, however.....do you have you car financed through somewhere?where the amount you owe on the loan EXCEEDS what the car is worth? ( kind of going through that, myself, right now). Either way......you have something to 'start out' with.
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