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'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
You are referring to Diminished Value. You might find the article below interesting. I understand it can be difficult to collect on this.
"Court battles over diminished value provides no ready answers".
http://www.autobpa.com/body_lang/court_battles.htm
The insurance company should offer you current fair value to allow you to replace your car as it existed just prior to the accident. (You should know they are not obligated to pay off your loan if you are upside down. I learned this the hard way years ago.)
Since it is so new, to get a real and fair current market value, I would go to the dealer where you purchased your car and 2 or 3 other similar/Honda dealerships and get a quote in writing from them on what it would cost to replace your car with the same options and mileage.
I did this when our trailer was stolen. We were able to get the insurance company to increase the offer because of the ACTUAL cost for replacement was greater than their first settlement offer.
Thanks...
The other insured, AIG, offered 50% of the $1170 estimate, which my carrier, GEICO, declined. The arbitrator awarded us 80%, which means that I will get back $400 of my $500 deductible.
As I understand it, the other party made no claim against AIG. For my car, no crash parts were needed - the claim involved paint material and labor to straighten the quarter panel and refinishing.
My questions are:
1. How much is it cost to a replacement?
2. How and what do I do if I don't accept insurance co's unfair offer?
Thank you very much for any suggestion.
Kank2
I all boils down to how well we can negotiate with the insurance company. Sometimes I feel that it would be better to hire a lawyer. You hate them but can not live without them...
If you feel as though your insurance company's offer is insufficient to replace your vehicle with an equivalent one, you can negotiate with them. Compile evidence to support your case, such as a statement from a local dealer or dealers, vehicle prices from newspaper ads, and information from the Internet and provide it to them.
Car_man
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Fortunately, my relative survived the loss of blood and the pain shock. Now he is recovering, and even walks again, with cane. However, he needs help even with so simple tasks as buying groceries or cleaning his room.
The driver admitted in the police report that he did not look ahead while approaching the road. He looked at left to make sure there is no cars on the road, but not ahead of him. He did not realized that he is going to hit a pedestrian until heard the knock. I believe there is no question the driver was on fault. According to the report, police did not arrest the driver, because the accident happened on private land.
Now my relative is receiving a lot of bills from hospital, doctors, etc. He is on Medicaid, who does not pay the bills, or at least most of bills. My relative is forwarding the bills to the insurance company of the driver who hit him. However, the insurance is denying payments, for strange reason: the victim is not a family member of the driver. I.e. the insurance company pretends that they were asked not for liability payments, but for health ones.
How can my relative collect the medical payments from the driver or his insurance company? He did not ask anything unusual. No pain and suffering, no punitive damages. Only that hospital, surgeons and other doctors will be paid for their labor.
Complicating factor: his English is rather bad. He reads fine, writes passably, but do not speak well, and barely understand spoken English. He have no auto insurance, because does not know to drive. And he is somewhat afraid of all the bureaucracy - bills, insurance, lawyers, etc. Just wants the driver and his insurance company to do the right things and left him alone.
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It is off topic, but let me to give vent to my anger.
After hitting my relative, the driver went out from the car and looked on him, than returned to his car, drove back to parking and was sitting in the air conditioned car, waiting for police, while the victim was bleeding, lying on the pavement. Even without trying to call ambulance. I consider it equivalent to hit and run. Equivalent in substance, even if formally the driver did not leave the place of accident.
Fortunately, a stranger driving by the road saw my relative in a puddle of blood on the pavement, and called 911.
I searched on Internet for info on the driver, and found that he is M.D., a psychiatrist. I consider not professional for doctor not to trying to help an injured.
Did your relative file a formal claim? Those bills he's sending are going to be ignored otherwise.
This is a medical expense claim for automobile liability insurance, not medical insurance. Pedestrians ARE covered!
It sounds like your best option is to contact an attorney. We can't give legal advice on this board, but contacting a lawyer who CAN is clearly your best option. I understand that language is a problem, but perhaps a family member can help with translation, or you can find an attorney who also speaks his native language.
Since your relative is a pedestrian instead of a driver, he does not get help from his auto insurance company in fighting the driver's insurance company. So, you will need to find someone who can fight for his best interests.
We wish the best to your relative.
kirstie_h
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No, he did not file any claim. Frankly, I also have no idea about the formal claims. What it means, and with whom he must file a claim? With police, or with court, or the state insurance commission?
I thought that it is enough that the insurance company knows about the accident from the police and received copies of medical bills.
-----------------
The insurance company definitely knows about the accident. They bombarded him with letters and phone calls while he was in hospitals and couple of weeks after this. They offered him $5000 in writing.
They even sent 4 times agents to the apartment where he lives: 2 times while he was in hospital (the agents put notes on his door), and two times just after he returned home. By the way, without invitation. It is directly prohibited to enter the building without invitation of a person who lives there. To my understanding, this is named trespassing and considered to be a petty crime in Connecticut.
Later the insurance company continued to push on him to meet personally and to discuss the matter. Even after he told them he does not speak English well enough, and is in bad health. He is ready to discuss by exchanging letters, but the insurance company wants to discuss orally, not in writing.
He believes that the insurance company is trying to use his weakness after the accident, his bad English, and lack of understanding of law and customs to press on him. Probably to let him say something what later would be considered that he agreed to a small settlement. Something not covering his medical bills. Even he understands that a 5 hours surgery, followed by more than week in hospital and a month in a rehabilitation center costs a lot in Connecticut. Substantially more than the $5000 they offered him.
Personally, I think that very probably he is right. Insurance company must minimize its payments. It is OK with him, as long as they cover his direct expenses - primary the medical expenses. He does not know if there will be other expenses connected with the accident.
He is a refugee, immigrated already retired, lives on welfare, and it complicates a lot of things.
It is a good idea to hire a lawyer. Probably I ought to ask my lawyer to recommend a honest colleague specializing on traffic accidents, and to pay for his help. My relative definitely cannot afford hiring a lawyer himself.
However, hiring a lawyer would substantially increase costs for the driver and/or his insurance company...
And once he has an attorney representing him in this matter, all communication/correspondence from the other side should go through the attorney, and not him directly.
It sounds like this is a bit complicated, and an attorney will (hopefully) help him to resolve the situation. Your suggestion about asking your attorney is a good one too; this way you know you will get someone fair and who will have relative's interests in mind.
Good luck
As mentioned earlier, all communication should be through his attorney only. Then, and only then, will there be a serious offer from the insurance company. Pain and suffering should definitely be part of the equation, as well as rehab expenses.
The main thing at this point is that he should not sign ANYTHING without legal representation.
What I do no is that the ins co will not pay on his medical claim until the matter is settled.
If you do not think you can get one for that price, ask them to find one for you. I suspect that you could get an '04 with Side Airbags for around 16500 + Tax/Tags.
I would ask Geico for Taxes + tags.
When I totalled my car, USAA gave me (1) more than I paid, (2) taxes/tags, and (3) dealer processing charges.
I agree with the last post though, you should ask for tax/DMV. Worst they can say is "no".
kcram
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Also, if the value is $16,005, then I would owe approximately $1,500 in taxes and fees. So I figure I should get MINIMUM $17,500, and possibly more.
Any thoughts?
Thanks!
kcram
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kcram
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I know a dealer will sell you a waiver, do I have any option like that private party?
that was in an accident
if the insurance company calls it a total loss
should I get a refund on the extended warranty
its a GM warranty and was included in the
orginal loan?
Car_man
Host
Smart Shopper Message Board
Someone ran into my 2003 BMW 325CI. I am figuring out how to get reimbursed fot it besides getting it fixed.
Thanks in advance.
Anyway, it was fixed right. So, I didn't pursue it any further. I figure, by the time I sell my car in a few years, any minor previous damage will count for almost nothing compared to its overall condition at that point in time.
And then the accident happened. Well, the cop told me that it was my fault because I failed to yield, even though I'm the one who got hit.
He said I was supposed to let that car passed first then I can make a turn.
So I didn't have a license and insurance. Big time, I got 4 tickets for around $1000. My car is a total junk / total loss.
Now here's the problem, the other party never contacted me at all for about one and a half month until yesterday. The accident was on 09/17/2004.
They want me to pay them $7000. All I got is $2500 in my bank account. And that's it. I'm a college student working part time for only 14 hours/week.
I'm scared and I'm confused. I didn't want to go to jail for this. But I really don't have that much money to pay them. Besides, I already got $1000 tickets, and my car is a total junk. I'm so stressed out yesterday when I received the letter from his insurance company. I couldn't sleep at all for whole night.
I need advise or suggestion from fellow drivers in this forum. Thank you so much in advance.
good grief! this is exactly why you need insurance to drive. And no license to boot?? What is the state going to do with you? I think it used to be driving at like 16 before having a licence and getting busted meant no license till 21. I could be remembering that wrong, but, if its not a law, it should be. You say you are in college, so you must be older than 17, right? And, as your parents would/should say, old enough to know better.
Anyway, the accident was your fault. If you made a left and someone ran into you who was going straight, then there is no debate about it. They had the right of way.
So, now what? Well, can you call home? You are either going to need financial help with this or you are going to have to work something out with a judge regarding garnishing your wages, etc. You won't be going to jail, so don't sweat that, but you definitely are going to pay for your stupidity.
'11 GMC Sierra 1500; '08 Charger R/T Daytona; '67 Coronet R/T; '13 Fiat 500c; '20 S90 T6; '22 MB Sprinter 2500 4x4 diesel; '97 Suzuki R Wagon; '96 Opel Astra; '08 Maser QP; '11 Mini Cooper S
First, it is not entirely clear - were you driving without any valid license at all? Or do you mean just no license in that particular state? If no license, did you have a learner's permit, and was a licensed driver in the vehicle with you?
How did you purchase a vehicle with no insurance - or, does the vehicle belong to a parent?
You will likely have to pay for your mistake, financially and legally. There is the possibility that you will not be allowed to obtain a driver's license for some time to come, but as qbrozen said, this is not something that people regularly go to jail for.
If you cannot borrow the $$ to pay for the damage to the other person's vehicle, you will probably have to pay over time. The state will take money out of your paycheck until your debt is paid off.
The problems that you face are serious, and there is no easy way to make them go away. My only advice is to accept responsibility before the judge, the other vehicle occupants, and your parents, and hopefully you'll be respected for that.
kirstie_h
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Fortunately for you, nobody will put you in jail for having no money. Debtor's prisons do not exist for 150 or 200 years. You risk only your modest assets (after some exclusions, something like $1000 to $1500, depending on state). After losing the assets, you must pay a modest share of your future incomes - something like 10% or 20%, again depending on state you live in - until you will pay off your liability with interests. Possible you can settle with insurance company for even lesser amount.
You'd better fear your future insurance rates. Due to such an accident auto insurance can increase by something like $1500 or even $2500 per year, for long years. However, this is a moot point, given you had no insurance nor driver's license on the first place. Probably the accident and not paying liability will also hurt your credit report. And many employers will not risk to hire you after you graduate (or will drop) from your college: you know, irresponsible character...
By the way, it could be a good lesson for you. As informative as a year in a college, and not more expensive. However, even 1.5 months after the accident, you did not bother to check the driver's manual to make sure you have no right of way when turning left. It is a bad sign concerning your education...
I didn't know that we can buy insurance without driver license.
Now, advice: contact the insurance company. Let them know that you are a college student without the funds to pay right now. offer to pay over time. Try to avoid the judgement on your credit, or the writeoff. The thing is the cost of the bad credit (writeoff or judgement) will be much higher than the 7K to fix the car.
Bottom line is you messed up. You have to pay the piper. Just be glad it was not worse. No one was hurt and the damages were only 7K. (I was in a similar accident where my ins. company paid out $78,000 in damages with no injuries.
And, (here comes the lecture) maybe you should not be driving yet. Clearly you have not demonstrated the maturity to understand the consiquences of your action. And now, you are looking for an easy fix? I hope not.
kirstie_h
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Now, if the other guy was speeding, then maybe that could be a factor. (In my accident, the other person was going 65 in a 40 zone through a yellow light. I was found not guilty in court, but my ins co paid anyway).
kirstie_h
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Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
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Problem is, in every state I can think of, an unlicensed driver is at fault period because they should not be at the wheel for even 5 feet. In this particular collision, exentric showed that he neither knew the rules of the road (right of way, several failed tests), nor was he able to judge things like closing speed if he attempted the turn with traffic approaching. Even if you're the most trained, experienced driver in the state, if you are unlicensed (or suspended), then you are illegally operating a vehicle - even if someone plows into you, you should not have been in that position.
Sometimes it's really tough to swallow this much, but in this case, Exentric is really going to have to choke this one down... and for a long time.
kcram
Host - Wagons
Recently, in the Washington DC area, there was a fatal accident where a surviving driver was legally drunk. He was charged with DUI. After analyzing the accident, the investigators determined that he was not the cause of the accident. So, we was not charged with vehicular homicide or even in the accident. He was charged with DUI, though.
I can not provide more details, as I am writing from memory.
kcram
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