Q: Vehicle accident not our fault totaled both our cars insurance is not paying enough for both losses what can we do?
A guy hit both me and my husbands parked cars while we were sleeping we didn’t know until we woke up totaled both and the ins company is handling it but not wanting to pay us enough to cover both losses
A: To fully answer your question, I would need more information. What is the reason the insurance company is "not wanting to pay enough to cover both losses?" Is there not enough insurance? Is the insurance company offering the fair market value (FMV) of the vehicles, but you owe more on your vehicles than they were worth?
You are entitled to the value of the vehicles immediately before they were damaged, regardless of the amount of any lien on the vehicles. If you owed more on the vehicles than they were worth, then you will still owe the bank, loan company, or dealership the difference between the FMV and the loan payoff amount. If that is the case, and you have "Gap" insurance, the gap insurance will pay off the loans on the vehicles.
If there is not enough personal property liability insurance to cover your losses, check to see if you have underinsured motorist insurance coverage on the policy(ies) on your vehicles. Your underinsured motorist coverage would pay the difference between the amount of the liability insurance and the value of your vehicles.
A: It sounds like you probably need to speak with an experienced accident lawyer. About 1/3 of our clients came to us after the insurance company either needlessly delayed their claim or failed to offer them full and fair compensation. If the insurance company is refusing to pay enough to cover all your losses, your primary option is to call a personal injury lawyer.
We offer free consultations, so please feel free to call us today toll-free at 1-877-943-9378. We can also help you determine what is a fair settlement amount.
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