Deductible Collision Insurance
July 1st, 2008
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Question: Should I sue the person at fault or use my collision insurance and PIP?
My wife was rear ended at high speed while stopped at a light and there is no question about liability. Our car was totaled and my wife and her passengers were injured. My ins. co. wants to pay for our car under the collision coverage and pay medical under the PIP part of the policy. I would have to pay a 300 dollar deductible and part of the rental car fees. Would I be better to simply sue the at-fault person’s ins. co. (State Farm) so I could be made whole? Or would the attorney fees be too much? The car was a 2007 Ford Focus.
Answer: If the car is a total then the 300 would be take out of the total loss settlement. If you owe more than what it is worth the other carrier is not responsible for anymore. That can happen because of your interest rate, if you had a balance moved over from a trade in, ect. If you have GAP coverage that was purchased with the veh, that will coverage the balance of the loan. New vehicles, always get insurance if you will be in the negative on the loan.
Some people use the injuries to get more money to cover this loss. First have your insurance pay the medical bills. The other carrier will need to pay your insurance back for collision and PIP. They should pay your insurance back your 300. Then you get that back. After each person is done being treated for the injuries then State Farm has to offer a final injury settlement. This will include the medical bills that your insurnace pays and then anymore for the injuried person. This may include pain and suffering and any other out of pocket expenses. If there is any travelling to get to and from doctors, then record the mileage. They may owe for this and PIP may have coverage too. When people hire attny that is usually only for the injury portion. You can do this at anytime. Some people do it right after the accident or they wait until settlement time if they are not getting what they want. State farm will come up with a low ball figures. You can always negotiate the amoun up. Kind of like Monopoly. They start low. You start high. meet in the middle. Your PIP adjuster will also have all the documentation to show what the treatments and diagnosis are too. This will help prove the extent of the injuries. Good luck!
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