Auto Insurance Claims/totaled car

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Expert: Rob Painter, Ase, CFEI, CAFATE - 5/22/2009


Question
I was in an accident last week. It was not my fault and the lady who hit me took full responsibility. Her insurance company(Geico) has been giving me the run around. They totaled my car, which I was afraid of. I had a 2000 Toyota Avalon. The insurance adjuster quoted my car for 3940.00 I owe a little more than that to my lender. Is there any way I can ask for more money? I am now out of a car and no money to put down for a new one. Is it not the law that the insurance company has to to pay me what I could have sold my car for before the accident? I have done countless hours of research on my car and what it is selling for right now in my area. I am surprised that it is going for 5995-7999. Am I going to be at a total loss and I did nothing wrong? She ran a stop sign and hit me. Now I am having to suffer

Answer
Hello,

This is the reason for gap insurance-to cover the gap between what you owe and what fair market value is.

If you bought the car new and you have gap on it, you could turn the claim over to your insurance company, pay your deductible which you would get back when your company subrogates.

It's not fair, but it happens all the time when because of another's stupidity, we end up on the short end of the stick.

In theory, if taken to court, the job of the court is to make one whole, no better, no less. In reality however, this does not happen that often.

You could speak to an attorney if there are any injuries and the attorney might get you more for the car.

I hope all works out.

Rob

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Rob Painter, Ase, CFEI, CAFATE

Expertise

Please remember. I am not an attorney and cannot legal advice. My answers are based on my experience due to litigation I have been involved in as an expert, for both insurance companies and while oposing them opposing them. I deal with only comprehensive claims on autos related to fire and theft. I have even had the opportunity to rewrite policy coverage language as it relates to vehicle theft and forced entry for insurance defense attorneys.

Experience

Experience in the area: Working with insurance companies and attorneys on these issues for over 20 years. It is very common to have a reported stolen car with a so-called factory anti-theft system to have the theft claim denied. I have served successfully as an expert witness in the courts across the US representing the insured and their attorney revealing that the insurance expert did not take all known theories into consideration before rendering their "Forensic" conclusion. Many insurance carriers us independent "Forensic" experts to examine reported stolen vehicles commonly using flawed methodology implicating the innocent insured with the theft. My job is to determine if the insurance expert reached his conclusions based on accepted scientific principals or just net opinion with no basis other than opinion. My case record against such experts is very compelling.My resume can be seen at the catagory "Auto Theft and Prevention." In "Forensics" the scientific method must be employed. In the forensic locksmith field determining how a reported stolen vehicle was last operated, many processes cannot be duplicated and are conveniently not addressed. If they were, juries would have the opportunity to make a fair and impartial opinion at least about what the expert could or could not prove. There is a purported process determining the last key used. The chances of determining such is very rare uless the key is found in the ignition lock. Experts commonly destroy evidence as well and are rarely questioned on this event. I reveal the weakness in their testimony on such instances.

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