Legal Question in Insurance Law in Georgia

Auto Insurance claims- total loss offer

I am not satisfied with the offer that has been presented to me from my insurance company. My vehicle was considered a total loss following an accident. I had only had this leased vehicle for about 10days after purchasing it for about $10K. My insurance company believes that the fair market value is $6300 which is currently being offered. The blue book is currently $7900 for this vehicle. I just took out a loan for this vehicle, and accepting this $6300 will leave me with $4000+ left to pay for a car which I do not even drive. I am considering taking this to court and am in need of some legal advice ASAP.

Thanks


Asked on 9/07/05, 2:32 am

1 Answer from Attorneys
Glenn M. Lyon, Esq. MacGREGOR LYON, LLC, Business Attorneys

Re: Auto Insurance claims- total loss offer

When cars are totaled out and paid off by the insurance company, the amount paid is more often than not under the amount paid. They use some sort of bluebook value, but there are different levels - private, dealer, etc. You might consider taking it to small claims court, but it wouldn't be worth it to fight it in state court.

If you would like to discuss any issues further, please feel free to contact my office. My contact information is below. Thank you.

The foregoing is general information only, not specific legal advice. No attorney/client relation has been created or should be implied.

Glenn M. Lyon, Esq

MacGregor Lyon, LLC

Promenade II

1230 Peachtree Street NE

Suite 1900

Atlanta Georgia 30309

Phone 404.942.3545

Fax 404.795.0993

[email protected]

www.macgregorlyon.com

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Answered on 9/07/05, 11:17 am


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