Legal Question in Insurance Law in Alaska
Auto Accident Insurance Claim
My car was totaled in an accident I caused. I have full coverage, my car is 1.5 years old, I am sole owner with no leins.
My insurance co. wants the title to my car before we have agreed upon a replacement value for my car. I have a replacement endorsement on my policy. I don't want to sign my title over until I see a settlement price from them. Am I right, or do I need to give them title to my car before I see a settlement price? thank you very much, Irene
1 Answer from Attorneys
Re: Auto Accident Insurance Claim
The simplest answer is to look in your policy and see exactly what it says. If it is silent, you are not required to give the title until you have been actually paid. That means you must agree to what is offered. If the policy says otherwise, I would be surprised. You are probably right, and I would only communicate with the insurer in writing and insist it does likewise with you.
I would also get replacement figures and specifics so you know exactly what you want - perhaps the insurer will write the check directly to the new car seller.
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