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Auto Insurance Claims/Total Loss...am I stuck???
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Question
A friend totaled my car. The police report states the other driver was at fault. The insurance company tells me they will appraise my car and pay that amount to the loss payee - the bank. There is a good chance I will still owe another 12,000 and still not have a car! Is there anything I can do to recover the full amount or push the other driver's insurance company to replace my car? (the other driver was driving a vehicle owned by a national auto parts chain) I'm a single working mom and caregiver to my elderly dad. If I end up with nothing but a debt I'll be ruined!
The other driver's insurance company only owes the market value of your car. Most insurers will lowball the market value of your car, leaving you more in debt. For around $6.00 (current sale price), you can get the eBook from UClaim.com entitled "Total Loss Auto for Claimants" that will teach you how not to get lowballed and addresses other issues like salvage value and rental car.
Now what surprises me is that if there is a lienholder on your car, they should have insurance on the car if you let it lapse. And its easier to make "your own insurer" replace the car instead of making a cash payment.
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| Rating(1-10) | Knowledgeability = 10 | Clarity of Response = 10 | Politeness = 10 |
| Comment | THANK YOU SO MUCH! I felt overwhelmed and didn't know I had any options!!! This is a much needed resource for people like me who just want to be treated fairly by the insurance companies. | ||
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Answers by Expert:
Ron Cercone
Expertise
How to handle automobile total loss claims. I am the president of UClaim.com, which sells 29 different eBooks I have written on how to maximize various types of auto, home and business claims and how to get coverage on denied claims. You may view their tables of contents online. Also available are very specialized eBooks such as on EUO (Examination Under Oath) for example. Also available is an assortment of policy forms used by the most popular insurers. The eBooks have a money back guarantee and currently include personal consultation with Ron Cercone.
Experience
I have been adjusting insurance claims since 1980. 1980 to 1995 adjusting for many insurers (6 years as an independent adjuster with my own company). Currently working as a public adjuster in California, since 1995. I'm one of the few public adjusters who has handled automobile damage and total loss claims.
Organizations
CAPIA (California Association of Public Adjusters).
Education/Credentials
BA 1975 in History and Industrial Arts. Full CV at UClaim.com .
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