I was hit by an uninsured motorists now my insurance company is paying me but not the full amount I owe.?

Question

So what I want to know is it possible for me to sue the driver? I know that my insurance company is going to sue but I still owe $2,000 on the car after the insurance company give me what they said the car is worth. So in the state of Florida what can I do? And who should I contact?

Answer 1

this same thing happened to my grandfather and they told him that there was nothing left he could do.

Answer 2

I am not sure of the rules in the states but here in the Uk every insurance company is required to pay money into a special fund-this money is used to pay for incidents of uninsured drivers.I think such a scheme probably operated in the States-I would try an internet search for uninsured driving claims/payouts I am sure it will point you somewhere. Good luck.

Answer 3

Ali, For car insurance the fastest method to get a low quote is do a car policy comparison. Be sure to choose the same coverage amounts, you can get an quick quote to compare against others. Use the same zip code, auto make and model, mileage and driving history to make sure you get an apples to apples comparison. To get fast auto insurance quotes, go to http://www.autoadviceonline.com/Free-Aut... and you can compare the major auto insurance companies.

Answer 4

Unfortunately your only option is to sue the other driver.  The situation you are in is what GAPP insurance is for.  It covers the difference in the loan vs. the market value of the car at the time of a loss.  You could try to negotiate with the insurance company stating that you cannot replace the car for what they are giving you.  you would have to show proof and do some research and provide them with pricing of similar vehicles in and around your area showing a high value.  The insurance company is supposed to give you replacement cost for a loss vehicle.  Good luck.

Answer 5

Basically when someone hits you and totals your car they owe you the cost to repair or the actual cash value, whatever is less.  Your actual cash value happens to be less than the cost to repair but also less than your loan value.  The other driver doesn't owe you more than the actual cash value so there's really no use in suing him.  The uninsured motorist coverage acts in place of his insurance coverage, so they pay you what he should  owe you.  They then will likely try to get their money back from him if they can.  The only way you might be able to get more is if you can prove to the insurance company that they were wrong on the actual cash value.  Pull values of similar vehicles from dealerships websites, or nada.com or kbb.com, or things like that to show that they're higher.  If you can't find anything higher, they you really can't prove your vehicle is worth more.  It sounds like either you made a bad deal with the dealership and paid more than its worth or your car just depreciated faster than you could pay the loan.  No one is responsible for either of those.  Sorry.

Answer 6

The second guy is right about GAP insurance.  If you have a loan on your car for a greater amount than what it's worth, then you are said to be upside down in your loan.  And in situations like this, you are responsible for the difference (again, unless you purchased GAP insurance as part of your policy).  This is why it's best to have a large down payment for a new car and to buy used (to avoid the sudden depreciation that new ones have).  Since none of that information helps you now...I would try arguing the value of your car with the insurance company.  It's unlikely they will give you more for your car, but you may get a sympathetic agent who can get you everything he or she possibly can.  If you haven't already signed power of attorney over to the insurance co, you can actually sue the at fault party directly, but that would probably end of being more expensive. You would have to pay attorney fees and court costs, and if this uninsured person doesn't have the money, you don't get anything back.  

The safest bet is to take the insurance money and consider this a $2000 lesson for the future.

Answer 7

You will have to check with the laws in Florida, but you may have a case in small claims court. Contact the clerk at the local general district courthouse.  They may be able to help. Also, do some research and make sure your insurance company is giving you what the car is actually worth.  It never hurts to get a second opinion.

Answer 8

If you do not have GAP coverage through your insurance company your stuck for the depreciated value.