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Joined: Feb 2003
Posts: 4,220
Hard-core CEG\'er
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Hard-core CEG\'er
Joined: Feb 2003
Posts: 4,220 |
I don't have the expertise to chime in on the majority of what you're asking, but I know that insurance will only pay the value of the car. You have to purchase extra insurance (I believe it's called "gap" insurance) if the difference covered.
2003 Mazda6s 3.0L MTX
Webpage
2004 Mazda3s 2.3L ATX
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Joined: Sep 2002
Posts: 4,294
Hard-core CEG'er
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Hard-core CEG'er
Joined: Sep 2002
Posts: 4,294 |
Originally posted by infuryum:
Originally posted by auiotour:
...I got $7000k
Is that... seven mil??
lol, sorry, was thinking 7k, wrote 7000.
95 SES Sold
99 SE Sport Sold
99 SVT T-Red Tan Interior. K&N, Magnecors, 19' Theorys, And some audio stuff.
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Joined: Aug 2000
Posts: 3,193
Hard-core CEG\'er
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Hard-core CEG\'er
Joined: Aug 2000
Posts: 3,193 |
Insurance is made to return you to the position you were in immediately prior to the accident. That means when a car is damaged, the amount needed to fix it to the condition it was in prior to the accident. When a car cannot be fixed or would cost more, the amount one is entitled to would be the amount to buy an identical car, regardless of what is owed.
Therefore, the fair amount would be the retail book value, less any pre-existing damage.
Brad "Diva": 2004 Mazda 6s 5-door, Volcanic Red
Rex: 1988 Mazda RX-7 Vert, Harbor Blue.
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Joined: Feb 2004
Posts: 20
New CEG\'er
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New CEG\'er
Joined: Feb 2004
Posts: 20 |
Two words: LAW YER. 
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Joined: Nov 2001
Posts: 1,176
CEG'er
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OP
CEG'er
Joined: Nov 2001
Posts: 1,176 |
To return me to the state I was in just prior to the accident encompasses, bodily injuries, pain and mental anguish, loss time from the office, research and initiative in getting to the "right" people with the other company when my adjust wasn't able to....... especially with the driver driving off which is felony in Texas.
An ounce of prevention provides a pound of cure!
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Joined: Feb 2003
Posts: 4,220
Hard-core CEG\'er
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Hard-core CEG\'er
Joined: Feb 2003
Posts: 4,220 |
And you should, and will if you get a lawyer, be compensated for that.
But you won't be compensated full pay-off for your car, only Blue Book.
2003 Mazda6s 3.0L MTX
Webpage
2004 Mazda3s 2.3L ATX
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