Can You Sue Your Car Insurance Company – Although you pay the insurance premium and your insurer is expected to hold up their end of the bargain when you file a claim, insurance companies are generally more concerned about protecting their bottom line than getting paid.
After a car accident that severely damages your car, you may believe it is best to total your car so you can get a new one.
Can You Sue Your Car Insurance Company
However, it may be bad for you. If your car is totaled, you may receive a refund that is less than its value and less than the cost of buying it new.
Top 7 Things Car Insurance Companies Won’t Tell You
On the other hand, it may be worth it to the insurance company to total your car. It may cost the company less to make all the necessary repairs to your car.
Collision Repair Industry Insights reported that in 2009, 20-22% of vehicles were totaled after an accident. This represents an increase from 16% in 2003 and 7% of the total in 1995.
An insurance company will generally total a car when the expected cost of repairing the car exceeds its value.
For example, let’s say a repair shop quotes you $5,000 to repair your car after a head-on collision. If your car is only worth $2,500, the insurance company will pay more than your car’s total.
Can I Be Sued For A Car Accident If I Don’t Have Insurance?
When this happens, the insurer is obligated to compensate you for the full value of your car.
When a car is totally damaged, the insurance company must value it in order to pay your claim. Edmonds and Kelly Blue Book are two of the most used sources for car valuations.
However, your insurance will not depend solely on these sources. Instead, your insurer often uses a complex formula to value your car. For example, the company might consider searching the market for similar cars locally or collecting computerized quotes from dealers.
Using a combination of formulas gives your insurer more room to adjust your value. For example, when using market search or searching for similar vehicles, they could target a nearby low-cost geographic area (such as a nearby suburb if you live in a city) to show that the car has been traded in for less.
What Do I Have To Say To The Insurance Company After A Car Accident?
You can compete with the value that the insurer offers you. However, to mount an effective challenge, you must compare other values and value your car.
Unfortunately, even when a car is completely repaired, it loses significant value because it was involved in an accident (especially a serious one).
When your insurance pays for your car repairs, you can still lose because your car is worth less. In some cases, the insurance policy may allow you to claim a lower value for the loss in value due to the accident.
However, you cannot claim a diminished value. Be sure to check your policy to see if this is an option for you. It is important to pay attention to the parts installed in your car.
Should I Get A Lawyer For A Car Accident
Your insurer may use generic parts or reclaimed parts instead of new parts from the dealer. Unfortunately, using these old parts can further reduce the value of your car.
There is a lot of mystery about how insurance companies determine premiums. This becomes clearer when it comes to how the insurer determines the increase in your premiums after an accident.
Most insurers will not tell you what will happen to your rates after an accident. This may discourage some people from reporting the accident to the insurance company, but it shouldn’t be.
You take a significant risk when you do not report an accident because your injuries and damages may turn out to be worse than you initially thought. If you wait and do not see a doctor right away, your injuries will not be covered.
How Does Fault Contribute To A North Carolina Car Accident?
You may only be concerned about filing an accident claim if you were driving your vehicle at the time of the accident. However, if you lend your car to a friend and they are hit by a car while you are driving, you should file an insurance claim.
Your rates will likely increase as a result of filing a claim. You will also incur deductible expenses for the damage, and if the claim arising from the incident exceeds the limits of your insurance policy, you will be personally sued.
These are not risks you want to take. Therefore, be sure to avoid lending a car to your friends. At the very least, make sure your partner is insured.
Insurance companies can drop customers under certain circumstances, such as when a customer is involved in a traffic accident.
Suing Someone For Lying About A Car Accident
However, insurance companies cannot wait until you need insurance coverage and then deny your claim and cancel your policy. If you lied on your insurance application, your claim may be denied.
For example, if someone lives in your home and drives your car regularly, but you tell your insurer that they are the only driver, this could be considered a material misrepresentation on your part.
If a family member is involved in an accident and someone is injured, your insurance company may deny the claim.
Alabama requires all drivers to have liability insurance. However, it does not protect your vehicle or property. Liability insurance only pays claims if you are involved in a car accident that damages another vehicle or injures another person.
What Happens If Your Insurance Policy Lapses, And How To Prevent / Reinstate It
If you only have liability coverage and total your car, your car is not covered, nor are any items in your car.
Let’s say you have insurance that covers your car in the event of a collision. In this case, it is important to remember that this coverage only gives you financial compensation if your car suffers damage and you need to replace or repair it.
If your property or valuables in the car are damaged in a car accident, your insurance company will cover these damages.
Call us at 205-933-1500 or take a moment to fill out our online form. Our Montgomery car accident attorneys can help you as soon as possible.
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When you rely on our 60 years of combined legal experience for your insurance claim denial, you will enjoy peace of mind knowing that you have aggressive legal representation that can help you obtain a fair recovery. If you have been involved in a car accident caused by the negligence of another driver, you may be concerned about whether your insurance policy covers property damage and injuries. Can you stop your car insurance company from providing you with the compensation you need and deserve? Learn when to hire an attorney for auto insurance claims and contact the experienced personal injury attorneys at Florian Aerobic for a free, confidential consultation.
If you or a loved one was injured in a car accident and the other driver was at fault, you may be wondering how you will get the compensation you need for the damages and injuries you suffered in the collision. In most cases, third party insurance will cover your medical bills and other expenses after a car accident. However, some insurance companies are not willing to offer adequate compensation. Working with an experienced car accident attorney is the best way to ensure that you receive the settlement you deserve for the injuries and damages that resulted from the accident.
Florian We will be happy to do the same for you.
Filing with an auto insurance company simply means filing a lawsuit against the company to get the compensation you deserve after a car accident caused by one of the company’s policyholders. While the word “trial” may conjure up images of days spent in court fighting defense attorneys, when it comes to car accident cases, that is rarely the case. In fact, most personal injury cases involving car accidents will be resolved before going to trial, meaning you will not have to worry about attending hearings or court proceedings.
Is The Owner Of A Car Liable For An Accident?
Auto insurance companies prefer to settle rather than go to court to avoid the unpredictability of a lawsuit and reach a quick settlement. This means that the insurance company is more likely to pay a settlement rather than go to court. However, the solution offered by the insurance company is not always in your favor; In fact, most car insurance companies either want to pay as little as possible or act in bad faith. Without an experienced car injury attorney, you may be forced to accept a settlement offer that is less than what you deserve. Once the waiver is signed and the claim is closed, you cannot receive additional compensation for that claim.
Lawyers with experience in personal injuries like Florian | Rubig can protect accident victims from being defrauded by insurance companies and their adjusters. We know how to best build your case and negotiate with the insurance company to ensure you get the compensation you need.
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