What can I get paid for damage to my car?

 

The insurance company has to pay you what your car is worth, not what it costs to buy a similar car. Because cars depreciate the moment they are driven off the lot, you will not be paid the purchase price on even a new car.

 

 

Yes. You can ask the insurance company for the “comparables” they are using to establish the value of your vehicle. You may find that the insurance company is using vehicles with higher mileage or fewer upgrades. You can point out these discrepancies to the insurance company. 

 

provide documentation to support your value.

 

 

Unfortunately, they can do this. Even large carriers are starting to follow this practice. The problem is, of course, that you have to incur these charges upfront and you may have to pay a rate higher than the rate the insurance company wants to reimburse you for. Because of the volume of their rentals, insurance companies can often get discounts from rental car companies that are not available to consumers. 

 

You may have to pay a higher rate, but the insurance company may offer to reimburse you only for the lower rate that is available only to them. You are entitled to loss of use (rental) but it’s very expensive to go to court to battle the insurance company over the excess rental charges, only. Therefore, if you spend a lot on a rental, you may have an out of pocket loss.

 

 

Yes. Typically, insurance companies will pay for a rental (loss of use) for 72 hours after your vehicle is determined to be totaled. This means you may not have time to replace your vehicle before the rental car must be turned in. Under Texas law you are only entitled to loss of use on a

vehicle that is repairable.

 

 

If you are “upside down” in you car (you owe more in payments than the car is worth), you could be left holding the bag if it’s totaled. That is why it is so important to buy gap insurance if you have a loan on your car. Gap insurance is designed to make up the shortfall in the event your car is totaled.

 

 

More and more often we are hearing about “excluded drivers” in Texas. Insurance companies are issuing policies leaving off spouses who have a bad driving record and teen drivers. Too often the owners of these vehicles let the excluded driver drive the car and the excluded driver causes an accident.

 

You can sue the owner and driver in this situation, but the insurance company is not going to pay and you are very unlikely to collect anything. You will likely have to use your own collision or uninsured motorists coverages.

 

 

Most probably not. You should NEVER let an excluded driver drive your car.

 

 

Typically, insurance companies will only pay for storage for a week or two. If you owe storage fees and do not pay them, after a period of time the storage lot can sell your car for salvage. 

 

That is why it is important to have your vehicle moved to the insurance company’s lot as soon as you can. The vehicle should be moved to the lot for the company which is adjusting the damages. 

 

If your car has been in a collision, it is worth less than before it was wrecked, even after it has been repaired. If your car is repairable, you are entitled to make a diminished value claim against the at fault driver’s insurance company. If you are at fault, your insurance company will

 

These factors determine what an insurance company will pay you for diminished value:

1. The age of your vehicle;
2. The mileage of your vehicle;
3. The cost of your vehicle;
4. The cost of repairs; and,
5. Whether your car has been wrecked before.