What do I do when the other partys insurance wants me to pay more than book value for a car I damaged?

Iesha M

daddemoretsrunt, I recommend an online insurance quote. It's free and generally hassle free. http://www.autoadviceonline.com/Auto-Insurance-Quote.html

Hope it works out

da'zone

unfortunately you had no insurance..... unfortunatelt for you that is...
you dont want to pay for damaging a car? tuff..
what if you killed somone... have you got a book price for that too.?
book prices are for fools.... coz they dont take into account what pride a person has in their car... faith.. reliability... etc..
pay the bill and think yourself lucky...

fire4511

First of all, you were driving with no insurance. Secondly, you hit someone due to your negligence, and now have to pay for the damage you caused. You are lucky that there was not a personal injury claim.You now want to try to get out of paying the actual value of the car.

Several point to take into consideration. You are liable for the actual retail value of the vehicle. You are liable for the tax that will have to be paid on the replacement car, and and title fees. You are liable for the cost of replacement transportation (rental car). You are liable for towing and storage of the damaged vehicle.

It seems to me that you are getting off easy, You chose to drive without insurance. You now get to pay for that choice.

If you do not pay, they will sue you and seize your bank accounts and garnishee your pay. You will also have to pay the lawyers fees and interest. Depending on the state, your driving privileges will be suspended until you pay every penny. Your credit score will take a hit from the court judgment.

Pay for your mistakes and quit trying to avoid responsibility.

CwboyBill

Kelly Blue book, (and every other book) is just a guide. Market value is what you will be expected to pay for the car plus any rental, towing, etc. that was involved as a result of the loss. Why don't you just ask the claims adjuster how they came up with those figures? Better yet, WHY didn't you have insurance??

Grant C

daddemoretsrunt, For auto insurance the fastest way to get a free quote is do a auto policy comparison. If you choose the same coverage levels, you can get an quick quote to compare against others. Use the same city/state, car make and model, mileage and driving history to make sure you get an apples to apples comparison. To get easy auto insurance quotes, go to http://www.autoadviceonline.com/Auto-Insurance-Quote.html and you can compare the major auto insurance companies.

MSAD

They may be looking for more than just the car. You also owe for a rental car charges and injury claims the other company had to pay on your behalf under the persons uninsured motorist coverage.

You owe a lot more than just the value of the car.

If you do not pay them, they will have your licensesuspended (and then you get to pay a bunch of fees to try and get it back) and they will pursue legal action against you. They won't go away.

So...call the adjuster up. They will set up an interest free payment plan. As long as you make your payments on time every month- no further action will be taken against you. If you miss a payment, they will pursue action. I am usually willing to accept a payment of $100 per month.

Or- if you have access to a lump sum of money- they may be willing to accept a lump sum for a lesser amount and call it even. For example, if they are looking to be paid 6000, they may accept 4500 and call it even. This is to their advantage because they don't have to monitor your monthly payments.

This is going to end up costing you much more than your insurance premium would have been.

â™¥ Uwish â™¥

Ask them how they determined the value of the vehicle and you want to see documentation showing that.

Was the other driver injured? Its possible you are paying them for the damages and medical bills too.

Call and ask them

MICHAEL B

To Be honest,It will take a little time to find the answer for the question of yours.have a look at the resource here http://www.CarInsuranceFree.info/free-car-insurance.htm for your reference .

MasterSheff

In majority of the states/provinces, you can NOT pay more then the value of the car. You are seriously an idiot for not having insurance, if the person claims they were injured in the accident, you will be forced to pay up to millions and you will lose your license and can be arrested for a long period of time if they are going to declare you.

Anja J

Bad news for you but sh#t happens!

The reason the Insurance Carrier is asking you to pay more than the car is worth is due to financing.

The car in question was probably financed and the payoff of the vehicle (to the lender) is 50% more than the value of the vehicle. Not Uncommon.

The insurance company is asking payoff of the vehicle (what they have to pay the lender to release the title) if the vehicle was declared totalled.

Hope this helps. This is just my opinion based on what you have said.

Need more detail to give you a better answer.

Anja J â€“Attorney at Law

Ralfcoder

Time to talk to a lawyer.

Be aware, however, that you may spend more for a lawyer than what the insurance company is asking. If you hire a lawyer, try to negotiate a flat fee that he will do the work for. It might not be possible, but it's worth a try.

nikki 76

the same thing happened to me years ago had a accident i had no insurance he did what happened was his insurance company paid his damages sent me a letter telling me it was paid days later this guy called me on the phone trying to get more money from me i told him no and that was the last i heard from the guy i live in pennsylvania and you should never pay more than what the vehicles worth i would go to court and fight this girl and her insurance company they are trying to rip you off if this girl has full coverage insurance it means the insurance company pays even when someone else has no insurance

kearneyconsulting

Please consult an attorney.

Brown Sugar

consult an attorney.

tonalc2

There are three KBB values: dealer, private party, and trade in. You probably found the smallest amount, while they're going for the largest amount.

The insurance company cannot suspend your license; that's up to the DMV, and unfortunately, depending on your state, that could be a possibility as a result of being in an accident while uninsured.

You should talk to an attorney.

UK Dad

Take legal advice.
You are clearly out of your depth dealing with this alone.

Helene

Blue book is usually off the correct amount most of the time. Most insurance companies use NADA.

You could contact an attorney to see what your options are with getting an approved value

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