QUESTION
What if you don't agree with the insurance company's value of the car?
Asked on Mar 19th, 2014 on Personal Injury - Rhode Island
More details to this question:
My husband was in an accident in August and he was at fault without insurance. The other driver's insurance company made us a settlement offer that seemed to be too high. After doing some research, we discovered that the car he hit had a salvage title and had been rebuilt TWICE! After getting our own estimate of the car's value, the insurance company said they were unaware of the salvage title and came down only 20%. My question is, if we cannot come to a reasonable conclusion with the insurance company, can they still suspend my husband's license? We want to resolve this matter but the amount they are asking for is outrageous.
4 ANSWERS
Ronald A. Steinberg
Get a lawyer and sue the company.
Answered on Mar 25th, 2014 at 5:44 AM
Edwin K. Niles
The DMV suspends the license, not the insurance company. As far as repayment is concerned, hang in there. It's the company's problem to get you to pay.
Answered on Mar 19th, 2014 at 8:14 PM
James Eugene Hasser
Value is a matter of opinion. Everyone has one. You are entitled to yours just as much as they are entitled to theirs. If you can't agree, that's what the court system is for.
Answered on Mar 19th, 2014 at 3:40 PM
Thomas Edward Gates
You need to retain an attorney. You will never get the costs down to a reasonable value. The car is worth only its book value and it is up to them to prove its worth.
Answered on Mar 19th, 2014 at 3:07 PM