Legal Question in Personal Injury in Tennessee
Personal Property damage in car accident
I was involved in an automobile accident recently and it looks like my car will be totalled. I have a 98 model car. I was not at fault at this accident. How will the insurance company come up with a price for the car? Will they use bluebook value? If so, is there anything else that can be done? I had no intention of purchasing another car at this point, and it seems as I will be forced to do so. Somehow it doesn't seem quite right that I am the one being punished by having to put out extra money to purchase a vehicle. Do I have any other options here?
1 Answer from Attorneys
Re: Personal Property damage in car accident
The insurance company will pay the "fair market value" of your vehicle, plus tax, title, transfer, etc. The question is what is fair market value. Blue book values are useful, but are not absolute. Did your car have options, new parts, tires, etc? Most companies will negotiate a little.
I have had many clients who owed more on their cars than they were worth (upside down). Even in that situation, the insurance only has to pay the value of the vehicle, not what is owed against it.
If you were injuried, remember that you have one year from the date of the accident to file an injury suit.
If you need any other information, please review our website or send an email.
Good Luck,
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