Oklahoma City, OK asked in Insurance Bad Faith and Car Accidents for Oklahoma

Q: My insurance company offered me $25k for totaled car, when my car has NADA clean retail value of $30k. What should I do?

Other driver was at fault. His ins. recommended I file under mine for time's sake and they'd reimburse them.

I did, and got a valuation report for around $25K (Including OK taxes and fees). None of the comps they chose had nav or premium sound like mine. Then they deduct outrageous amounts for mileage, etc and the worst is $1,109 for "Condition Adjustment", which is just an arbitrary number they think the dealer would spend to get the car ready. It is not based on any particulars, just the year and model of my car. (They use CCC One for valuations...they have many lawsuits for low valuations.)

OK Law says "An insurer may elect a cash settlement based upon the actual cost, less any deductible..., to purchase a comparable motor vehicle, including all applicable taxes, license fees and other fees..."

Shouldn't I be made whole, as I was before the accident? I shouldn't be out $5k+ for an accident that is not my fault.

No injury, so lawyers prob wouldn't want to talk to me?

1 Lawyer Answer
Peter N. Munsing
Peter N. Munsing
PREMIUM
Answered
  • Personal Injury Lawyer
  • Wyomissing, PA

A: Lawyers give free consultations. If it did that much damage you may have an injury but just want to say "Oh, my shoulder, that 's nothing..." then months later you get a rotator cuff. So contact a member of the OK Trial Lawyers Assn --they give free consults. Look at your policy--do you have more than 25k in coverage? Sounds to me if OK law is what you said, you should get more.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.