Sep 9, 2024
11:51:31am
11:51:31am
Why do you say that the fair market value of the car isn't covered by insurance?
Assuming that the policy has comprehensive coverage (not just liability), a first-party claim against his own insurer would be for the fair market value of the car. The insurer would be required to pay the fair market value of the car, measured immediately prior to the accident.
His own insurer would then go after the at-fault driver's insurer to get reimbursed.
You don't get the cost of the repairs you made to your car, but you do get the fair market value of the car. It's as simple as that.
His own insurer would then go after the at-fault driver's insurer to get reimbursed.
You don't get the cost of the repairs you made to your car, but you do get the fair market value of the car. It's as simple as that.
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- Jay Rick
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Wasn’t sure how to categorize this one… son was in a car accident. Insurance carrier is giving a really low offer
Sep 9, 7:45am
Seems fair. This is a good way for your son to learn that putting 5k into a lemon 5k car doesn’t make it a 10k car.
Sep 9, 7:53am
It was a work truck, with a CNG package that would save around $6000 a year in fuel.It was a good investment… until this
Sep 9, 7:56am
Sep 9, 7:58am
The at fault driver is responsible for your losses. His losses include the recent work on the vehicle
Sep 9, 8:15am
Sep 9, 8:30am
Sep 9, 8:03am
Sep 9, 8:23am
Sep 9, 8:30am