Need advice~~Insurance company wants to total my baby G35 :(
#32
Too bad that dude's insurance just expired before the accident and he was not even aware of cuz it's a company insurance.
But my insurance company telling me as long as the car current value<(repair cost+savage value), my car will be totaled, regardless whose fault is it.
But my insurance company telling me as long as the car current value<(repair cost+savage value), my car will be totaled, regardless whose fault is it.
#33
The company that employed the other driver should have a commercial auto policy that would provide excess coverage if it's a vehicle owned by the employee. The primary coverage usually will be provided by the employees insurance. If the employee was uninsured then the company's policy comes into play. Your insurance company doesn't really care what they pay you to some extent, as they will eventually subrogate (seek reimbursement) from the company's policy anyway, and it sounds like they will win as well if the police report is in your favor.
Go through the adverse carrier to see if they make you a better offer. Your right of recovery is actual cash value. Unfortunately what you paid for the car has very little impact on what the ACV is. Keep trying to find G's for sale in your area (within 500 miles) to compare prices to, your settlement should be somewhere around there. You can buy back the car salvage as well if you want to keep the car forever, just remember you're gonna get screwed when you try to sell it.
Go through the adverse carrier to see if they make you a better offer. Your right of recovery is actual cash value. Unfortunately what you paid for the car has very little impact on what the ACV is. Keep trying to find G's for sale in your area (within 500 miles) to compare prices to, your settlement should be somewhere around there. You can buy back the car salvage as well if you want to keep the car forever, just remember you're gonna get screwed when you try to sell it.
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07-24-2015 05:12 PM