Total Loss of a Dream Car

(California)

Front Drivers Side - Most Damage

I was involved in a freeway accident. A dolly fell off of a semi truck, who kept driving, and the 1st vehicle came to a complete stop on the freeway after hitting the dolly, the 2nd car was stopping, me the 3rd car was stopping, and the fourth car slammed into me, slamming me into the 2nd car.

Of course the 1st car who stopped like an idiot had no damage. The highway patrol deemed the accident as "other than driver" at fault. The report has not been completed and I already have the insurance company calling me and trying to make an offer to me. I had a 2004 Acura TSX, my dream car, which is now beyond fixable. I had severe whiplash and many bruises and seat belt burn, my boyfriend about the same injuries.

I still owe about 21,000 on my car and want to know ahead of time what I can do to get that completely covered. Are there any laws regarding paying off a loan in full if its not your fault? Are there any arguments I should be aware of? That car meant the world to me and I never had any intention of ever getting rid of it until the day came where it didn't start anymore.

Thank you for any and all advice you can give.

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Total Loss of a Dream Car

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Dec 13, 2007

Your accident/car damage
by: CA Attorney

From the pic, your car will probably not be deemed a total loss by the ins. co. You'll be getting what it costs to repair it and get to keep your car! If you get lucky and the adjuster calls this a total loss, you will get the fair market value (think bluebook value) of your car usually at the time of the accident or sometimes the car value at the time they are paying it out (this timing is important if they take a long time to pay it out and ins. companies will take advantage of the unrepresented on this). If you owe more on the car than it's worth, you will not get the $21k you owe, unless you have either GAP ins. or a lawyer (there is no way around this, I swear!) More important is the liability issue, IF you don't have info on the semi truck and its insurance, get a lawyer because the other ins. companies will make you get one down the line when you've put many hours into this and gotten nowhere. No wonder they're knocking on your door. If u settle now, you lose big. Good luck. bishoor2004@-yahoo.com (with no dash).

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Dec 13, 2007
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Submitted by: CA Attorney

Title

Comment
From the pic, your car will probably not be deemed a total loss by the ins. co. You'll be getting what it costs to repair it and get to keep your car! If you get lucky and the adjuster calls this a total loss, you will get the fair market value (think bluebook value) of your car usually at the time of the accident or sometimes the car value at the time they are paying it out (this timing is important if they take a long time to pay it out and ins. companies will take advantage of the unrepresented on this). If you owe more on the car than it's worth, you will not get the $21k you owe, unless you have either GAP ins. or a lawyer (there is no way around this, I swear!) More important is the liability issue, IF you don't have info on the semi truck and its insurance, get a lawyer because the other ins. companies will make you get one down the line when you've put many hours into this and gotten nowhere. No wonder they're knocking on your door. If u settle now, you lose big. Good luck. bishoor2004@-yahoo.com (with no dash). Web Master Disclaimer The author to this comment is not affiliated to us or this site, nor do we know of his/her capabilities as an attorney. We do not endorse any attorney or lawyer in this site (except for Casey our co-author of course), but since Casey does not practice law in 50 states, we do allow other attorneys to contribute and to put their contact information and allow the visitor to contact them directly if they chose to. Thanks.

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Dec 11, 2007

Answer
by: Casey

Hi, (we are sorry for the delay getting back to you). We are sorry to learn about your injuries and the loss of you car.

You have no fault regarding this accident (as you are aware). Insurance companies could start blaming the driver with the dolly and try to “get” that car to pay the damage. You said that they have already make you an offer, we are not sure if the offer was from your own insurance company or from the vehicle behind you. If it is from the vehicle behind you, then they are accepting 100% liability.

Regarding your vehicle being the car of your dreams. Unfortunately, it does not mean much for insurance (or the law). A vehicle is property that can be replaced. The argument is that if the insurance company pays you the fair market value for you car, then they are putting you back in the position you were before the accident. This is all they have to do per state law. They must put you back in the position you were by paying fair market value. They will also argue that if you hated your car, they would not take value away from the car (kind of a ridiculous claims, but we have seen it).

Regarding the amount owed on the loan. This is the number one reason we decided to write this website. The insurance company has no duty to pay your loan at all. They will pay fair market value for you car, and if your car is worth less than what you owe, then YOU STILL HAVE to pay the difference. This is highly unfair (we know) since you were completely innocent for the accident, but somehow the insurance industry has been able to change legislation in such away that they are getting away with paying less than they should for claims like yours.

If you carry GAP insurance, then your GAP coverage will cover the difference between what the insurance company pays for a total loss and what you owe on your loan (this insurance policy is design to protect you in a situation just like yours). You get gap coverage only when you get your car loan, usually through the same lending institution.

How to protect your interest? Regarding the total loss
visit:

http://www.auto-insurance-claim-advice.com/totaling-a-vehicle.html and
regarding the injury visit:

http://www.auto-insurance-claim-advice.com/bodily-injury-claim.html

There we outline the process.

Good luck and we hope you and your boyfriend feel better.

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Dec 11, 2007
Rating

Submitted by: Casey

Title

Comment
Hi, (we are sorry for the delay getting back to you). We are sorry to learn about your injuries and the loss of you car. You have no fault regarding this accident (as you are aware). Insurance companies could start blaming the driver with the dolly and try to “get” that car to pay the damage. You said that they have already make you an offer, we are not sure if the offer was from your own insurance company or from the vehicle behind you. If it is from the vehicle behind you, then they are accepting 100% liability. Regarding your vehicle being the car of your dreams. Unfortunately, it does not mean much for insurance (or the law). A vehicle is property that can be replaced. The argument is that if the insurance company pays you the fair market value for you car, then they are putting you back in the position you were before the accident. This is all they have to do per state law. They must put you back in the position you were by paying fair market value. They will also argue that if you hated your car, they would not take value away from the car (kind of a ridiculous claims, but we have seen it). Regarding the amount owed on the loan. This is the number one reason we decided to write this website. The insurance company has no duty to pay your loan at all. They will pay fair market value for you car, and if your car is worth less than what you owe, then YOU STILL HAVE to pay the difference. This is highly unfair (we know) since you were completely innocent for the accident, but somehow the insurance industry has been able to change legislation in such away that they are getting away with paying less than they should for claims like yours. If you carry GAP insurance, then your GAP coverage will cover the difference between what the insurance company pays for a total loss and what you owe on your loan (this insurance policy is design to protect you in a situation just like yours). You get gap coverage only when you get your car loan, usually through the same lending institution. How to protect your interest? Regarding the total loss visit: <a style="color: blue; text-decoration: underline; text-underline: single" href="http://www.auto-insurance-claim-advice.com/totaling-a-vehicle.html"> http://www.auto-insurance-claim-advice.com/totaling-a-vehicle.html</a> and regarding the injury visit: <a style="color: blue; text-decoration: underline; text-underline: single" href="http://www.auto-insurance-claim-advice.com/bodily-injury-claim.html"> http://www.auto-insurance-claim-advice.com/bodily-injury-claim.html</a> There we outline the process. Good luck and we hope you and your boyfriend feel better.

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Total Loss of a Dream Car

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