You’ve just had an accident, thanks to bumper-to-bumper traffic on Hillside. Your car has been totaled and you need transportation now. What should you do? Find a lawyer? Try to convince the insurance to buy you a brand new car? Although neither of these methods is in your best interest, you do have a few options.
First, property damage claims are rarely accepted by an attorney because there really isn’t enough value to involve a lawyer. But, this doesn’t mean you have to accept whatever the insurance company is offering you for your car. The insurance company typically offers you the fair market value of your car. This means if you tried to sell your car on Craigslist or put an ad in the paper, you will be offered the general amount, falling within $500-$700. A good way to estimate the value of your car is to go to Kelley Blue Book’s website. If what the insurance company is offering you isn’t close to the ballpark figure that Kelley Blue Book says your car is worth, you have one more option.
If your insurance company quoted you an unfair price, you can negotiate with the adjustor agent. You have the right to make the insurance company find you a comparable car for the price they are offering, in your area. For example, if your car was a 2002 Ford Taurus, in reasonable condition with 150,000 miles on it, Kelley Blue Book says it’s worth roughly $2,400. Yet, the insurance is only willing to pay $1,200. You can insist that they find you a 2002 Ford Taurus, with 150,000 miles, for $1,200. And it has to be local.
Wondering what’s going to happen if you still owe money on the car? Go to your bank and explain the situation. More than likely you can work out a deal for substitution of collateral. If you are able to find a comparable vehicle locally, the insurance will pay the car lot, and you will owe your loan balance on the new car instead of your old, totaled car to the bank. Or in other words, the bank allows you to get another vehicle and then substitutes the new vehicle as collateral on the same loan.
If you have had a Kansas car wreck injury that was not your fault and need medical treatment, you need an experienced professional who can help you get back on the road to recovery. Call us today at 316-269-1414 or visit our contact page here. Our Kansas personal injury attorneys will provide you a free initial consultation and if we take your case you don’t pay a dime unless we recover money for you. Even then we only take a percentage of the total amount of your recovery.
If you have questions on what you should be looking for when you are making a decision to hire a Kansas personal injury lawyer, read our article located here.
Ray Hodge & Associates proudly represents victims and their families across the state of Kansas, including Wichita, Andover, Derby, Goddard, Haysville, Mulvane, Rose Hill, Newton, El Dorado and Hutchinson. Call today for a free consultation all over the state of Kansas. We have proudly served clients in Sedgwick, Butler, Sumner, Harvey, Kingman and Reno Counties.