Legal Question in Insurance Law in Texas

Re: Statue of Limitations Insurance Claim

Statue of limitations for wrongful conduct = 2 years; for breach of contract = 4 years; some insurance code violations have an SOL of 5 years. Sounds like you waited too long. There may be a possibility of fraudulent concealment, but that is difficult.

Re: Statue of Limitations Insurance Claim

What I believe you are asking is, "Does an insurance company have to pay 'replacement costs' when a vehicle is stolen or 'totaled' or may it get away with paying only the fair market value?" Unfortunately, when you are dealing with your own insurance company, they are only required to pay the "fair market value" (the amount for which you could have sold the car) OR the cost of repair, whichever is less. They are not required to pay "diminution of value" (which is the amount by which the value of the car has diminished because of the accident or event), nor do they have to pay the amount you owe on the car, or the amount you paid, or the amount it would take to purchase a new car. (If you are getting the idea the law is "unfair," all I can say is, "Welcome to Texas--George Bush Country." All of the laws and rules in Texas are designed to favor insurance companies and big business. Until we replace our far-right-wing Republican leaders with ones who care about the victim rather than their fatcat contributors, we will all continue getting shafted.) Also, you have probably missed the statute of limitations because you only have four years in which to sue your own insurance company for breach of contract.