QUESTION
Can I ask for more money on vehicle total loss?
Asked on Aug 28th, 2012 on Automobile Accidents - Massachusetts
More details to this question:
accident 12/2011 - 09 Honda fit Insurance's shop repairs car at $9200.00. I get car back I complain about fix but hear nothing. ^ months later Insurance re-inspector calls me because repair was so high. He deems car unsafe and that work wasn't done correctly. I then go to my own shop they find car to have bad welds and bent frame and vehicle is unsafe to drive. Insurance then totals out the car for 12K. I want at least 18K because at time of accident I had already paid off 12K of my loan and only had ~6K left. If I accept the 12K I'll only have 6K down payment on a new honda fit ~19K. So I'll have a new 5 year car loan. I live MA the insurance company says that They by my policy and MA law only have to give me they market value of the car as of accident date 12/2011. Is there any thing I can do? I just want enough money to get the same car and only have 6K left over. So I think they should pay me out 18K.
1 ANSWER
The MA insurance policy is very clear. the insurance company is accurate when they say they are only responsible for the book or market value of your car. I would suggest looking at a number of value books like kbb.com or nada.com to find the highest price you can. In addition, you can go to local dealerships and see if you can get an estimate from them as to how much your 09 Honda is worth. They may be willing to increase the numbers if you show them a willingness to buy a new car from them. Good luck.
Steven A. Schwartz
Attorney/Partner
JOEL H. SCHWARTZ, P.C.
One Washington Mall, 16th floor
Boston, MA 02108
(617) 742-1170
Answered on Sep 04th, 2012 at 10:54 AM