Legal Question in Insurance Law in Utah

Do I have to accept

My wife was in a car accident,the car that she was driving was totaled. We still owe over 16,000.00 to the bank, the insurance company will only pay some 12,000.00 to the bank for release of the title leaving us to pay 4000.00 and still no vehicle. Do we have to accept this offer?


Asked on 7/11/02, 7:51 pm

1 Answer from Attorneys
Alvin Lundgren Alvin R. Lundgren, L.C.

Re: Do I have to accept

The insurance company must pay the replacement value of the vehicle, independent of what is owed on it. You should check NADA (nadaguides.com) and/or Kelly Blue Book (KBB.com) to determine the retail value of your car. That is the amount you should be paid, with adjustments for special conditions (i.e., new tires or custom wheels add more, previous damage then deduct.) Don't trust the first offer from the insurance company, some always offer less than your car is worth.

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Answered on 7/15/02, 10:35 am


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