Expert: Charlie Barone - 8/27/2009

Question
My parked car was hit at low-speed  in a parking lot (in PA).  At the scene I agreed to work with the at-fault driver who provided all kinds of information (insur. co., driver's license, phone number, etc).  I spoke with her on the phone a few days later after getting two estimates and then never heard from her again. Both estimates were around $500. Since she apparently disappeared, I contacted my insurance company who was able to eventually track down her insurance company,  but in the meantime I had already decided to trade-in for a different vehicle.  Naturally the trade-in value of the car suffered due to the damage, but at the time of trade in I'd assumed  that her co. would never be found - but if it was I just hoped that somehow I could still 'recover' the $500 since it was reflected in the trade-in value.  I'm not yet familiar enough with insurance claims, laws, etc., but I have a feeling I've lost the $500.  Is that the case?  Many thanks for any feedback.

Answer
If your insurance company has located the at-fault party's insurer, then they will subrogate with them and recover all their money. Once that process is completed, you will be refunded the deductible. However, if you traded the car as is and never got the damage repaired, but still filed a claim with your insurance company, you should be in line for a settlement for the damage repair. Presumably, you'll get your $500 when the claim is paid.