Legal Question in Personal Injury in California
total loss
I was in a car accident, they accepted the liability, my car is a total loss they made an offer that I don't agree with and refused and then sent me a check for that amount. I'm not going to cash it because I feel they are being unfair. the fair market value of the car was o.k. but I just put a new transmission in it in march and paid $1925.00 which I'm still paying on, they want to give me $200.00 on it. I think they sould either pay it off its $800.00 or pay me half of what I payed for it. Am I wrong for asking for that amount.
4 Answers from Attorneys
Re: total loss
Unfortunately, the cost of the transmission is not considered in the value of the car.
Re: total loss
Determining a fair market value for a used car is often very difficult. Everything depreciates--even expensive repairs that are done shortly before an accident. You usually cannot get back 100% of what you paid. The fair market value of a car takes into account many variables including recent repair costs. It's very unlikely that an insurance company will pay additional money for a specific repair. If it was another company, you still can sue the driver. If this was your company, you can hire an appraiser. Check your policy. Good luck.
Re: total loss
In a word "YES" you are wrong, but you can't lose for trying. The insurance company owes you a repair or replacement at market value. It doen't help if you put in gold plated parts. They need only replace a running vehicle in good condition.
Re: total loss
What would you have been able to sell your car for the day before the accident in the condition in which it was in at that time? That is what the law requires the party who totalled your car to pay for damages for the loss of the vehicle. No more, no less.
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