Q: My car was totalled, not due to my fault, it was 100% the other party but the value is 19k, his insurance only has 10k
I own a car rental company in NJ, One of my customers was hit and it was deemed the other drivers fault.
The insurance company is having me sign a waiver that I will not sue the driver after I get the 10k even though to make me whole, it would be the value of the vehicle 19k, tow and storage from impound ( $3300) loss of use ( $1500) . I would be losing out on almost 14k . Do I sue the driver and progressive for the full amount or do I take the 10k and fill a claim on the renters policy for the difference?
Do you have underinsured motorist property damage insurance on the vehicle involved in the accident?
A: A lawyer would need to ask you several questions to properly answer this question starting with do you have an under or uninsured insurance to cover loss, does your contract speak to an accident and does it include recovery of attorneys fees etc. Although it may cost a few dollars to speak with a lawyer as to what your best options are it is probably your smartest option at this point to determine what your best course of action is.
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