Legal Question in Insurance Law in Florida
When car is totalled
I was in car accident and my car is now considered totalled. I just recently decided to buy my lease and I owe about 12,000.00 on it. The other drivers insurance company is paying for all damages to date so they say. My question is once they pay off my loan what do I do? I don't have money for a new car and my car payments were very low what can i do? I feel that they owe me some sort of compensation because now I'm place in a position that was not of my own doing. The reason I bought out my lease was to have affordable payments and yet still have a nice car. Please help. Thank you
Asked on 1/16/06, 4:55 pm
1 Answer from Attorneys
David Slater
David P. Slater, Esq.
Re: When car is totalled
You are only entitled to the fair market value of the car at the time of the accident.
Answered on 1/16/06, 5:01 pm
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