QUESTION
I turned down "FMV" offer as too low. How long do I have to counter? Can I keep the rental while negotiating? Can I refuse offerand take the car back?
Asked on Aug 01st, 2018 on Personal Injury - Florida
More details to this question:
My car was rear-ended. The at-fault insurer wants to give me a rental while my car is in for an estimate and/or repair. My senses tell me my 2003 Camry XLE with 128K miles will be "totaled" rather than repaired so that they can pay me off, take the car, and offset their payment by selling it at auction. If I refuse a "Fair Market Value" offer and counter it, how long can I keep the rental and, barring an agreed-upon price, can I take the car back? It is drive-able and still road worthy. I just don't want them to pull it apart and leave me at a disadvantage.
1 ANSWER
1 Award
They are only obligated to pay FMV if it is totaled, or to pay the cost of reasonable repairs if it is not totaled. You can counter it, but they dont necessarily have to negotiate with you, and it would be too costly and time consuming on your end to try and sue them for full FMV. The rental issue will pretty much be up to them. If you arent able to reach an agreed upon total price, then you can take the car back, but they wont have to pay you anything for repairs. I've seen older, worse cars that werent totaled with what sounds like more damage, however, so hopefully they wont have to total it, can repair it, and you can be on your way. Personal Injury attorneys can help you not only with any injuries and medical expenses you have from an accident, but many will at least help you with the property damage side as well.
Answered on Aug 06th, 2018 at 6:45 AM