Quote:
Originally Posted by Instrument 41
...We aren't law suit happy but 1900 is nothing in regards to replacing his transportation...
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Quote:
Originally Posted by KC911
What do you think the car was worth?
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Quote:
Originally Posted by Instrument 41
$2500??
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See that does not square for me.
They are offering you 75% of what you think it's worth but you are not sure yourself.
Had your answer been, the car is immaculate and our research shows cars in that condition are selling $x,xxx.xx I'd have a different impression.
Without anything to go on it seems the unanimous consensus here is $2,000 is about right so they've offered you 95% of replacement value.
Their offer would seem that it goes plenty far in replacing his transportation unless it was his intent to get a more expensive car.
I'm sure you know this already but they don't give you whatever your new car will cost, they give you what the old one was worth.
And the premiums you paid are just that, premiums you paid for coverage.
If his policy were $1,000 a year and he got rear ended in the first year they would still have had to pay out the full replacement value. In other words, they lost money.
I'm sure you would not have accepted their answer that "well you only paid in $1,000 so that's all you get back"
I can't imagine the premiums on that thing were terrible unless you had comp / collision which IMHO would have been a waste of money.
You don't pay for coverage that will cost you more in a couple of years than the replacement value of the item.
EDIT: In hindsight what do the premiums you paid have to do with anything? He got rear ended, the other drivers ins co is the one paying out, not yours. Unless you had comp on it and are expecting your carrier to make up the difference in what you think he should be getting for it?
If that's the case then you are already even. $2,500 -1,900 = $600 to your ins co to cover minus your deductible, which you'd be crazy to carry a low one, so assume $500 means your ins co owes you $100.00
Lotta trouble to go through for what we spend taking the family out to dinner on a Friday night.
YMMV.