Legal Question in Insurance Law in Florida

No Gap Insurance

Young couple, in early twenties, we rent an apartment, we don't have renters insurance. Our 2002 car was hit while parked in our driveway by an uninsured motorist fleeing from the police. We don't have gap insurance. Our car was totaled and the insurance will pay bluebook which is 5800 but we owe 12000. What can we do? Thanks


Asked on 3/17/04, 8:33 pm

1 Answer from Attorneys
Michael Tobin Michael M. Tobin, P.A.

Re: No Gap Insurance

First. Bluebook is never accurate, only an estimate. The ins co should be able to show you that a comparable car is available for pruchase at a local car lot at that price. Check it yourself to see if the ACV is fair and accurate. They should also allow for sales tax and title fees.

Next check your state Crime Victims Compensation fund. You are qualified to receive up to $10,000 for an uninsured loss in Florida. Police have the forms. Always buy with gap insurance to prevent this. Its cheap. So is renters insurance.

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Answered on 3/18/04, 10:42 am


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