QUESTION
My car was totaled out with no other car involved. My insurance company offered 14,000. this is not enough to buy a decent used car.
Asked on Nov 04th, 2015 on Automobile Accidents - Indiana
More details to this question:
The car cost 35,000., being 5 years old. I feel more should be offered. What can I do?
1 ANSWER
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Goodin | Abernathy LLP Attorneys at Law
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Dear Anonymous,
Your insurance company is only required to pay you the fair market value (FMV) for your vehicle. If you dispute how they have arrived at the FMV, or you have evidence that the vehicle had new equipment that was not considered in their valuation, you should submit it to them. However, as I am sure you know, most vehicles depreciate considerably as they age.
Good luck,
Chip Clark
Answered on Nov 10th, 2015 at 10:55 AM