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Re: Insurance settlement nightmare
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Posted by nwas (more from nwas) on Sat, 5 Nov 2011 14:59:41 Share Post by Email
In Reply to: Re: Insurance settlement nightmare, turbosaab [Profile/Gallery] , Sat, 5 Nov 2011 12:35:14
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This DEFINITELY varies by state. Whether Insurance Companies are required to pay replacement value on a dealer's lot, actual cash value (what you can sell the car for), "book" value, etc, is regulated by state law. You need to use your agent or your state insurance commissioners office to first determine what that amount is.

USAA is actually irrelevant here. You incured a loss. The OTHER DRIVER owes you that money, not USAA. You don't sue USAA, you sue the other driver and they have to pay you. If they have an insurance company, then their insurance company can pay the claim for them or through them.

You need to either engage a lawyer and/or sue. You'd be surprised how many insurance companies change their tune as soon as you tell them you've hired a lawyer and/or s/he sends them a letter. But, I'd not ony tell the insurance company that you're going to sue, I'd tell their customer. Let their customer put the pressure on them to settle - that's not your job.

At $2K I think you'd be in small claims court in most states. Find out the law, your rights, see if you can sue without a lawyer. Push the buttons. USAA will have to decide if they will give in and pay you more or pay a lawyer to show up in court for them and their client. You can always go before a judge and demonstrate the value of the car. It's a no-lose situation for you, aside from the time and possible court fees.

Keep in mind what I said above: every state has a way to determine value under the law, and the judge will use that. Make sure you have a leg to stand on.


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