So I was rear ended a couple months ago, at first they were going to repair it, the repair estimate came out to a little over 8,000. but then they found out there would be a 3 month wait for a specific part from germany so they decided to total it.
I should also say that my insurance is progressive, the other party's insurance is state farm. i only have liability (which was a mistake on my/my insurance agents part, i asked him to set me up with the appropriate coverage for my car, but i guess he didnt look at the value as you cant really find my car for any less than about 15)
my car is a pretty rare enthusiast/collectors car, and they have been shooting up in value over the last couple years. for my mileage and condition you see them going for 18-25. their first offer was for 6,000, i obviously said no, this was a super obvious low ball considering that they obviously valued the car at a bit over 8,000 at least if they were going to pay that for repairs. next offer was 12, and i said no again. and basically im stuck now, they wont go any higher. i talked to the insurance commissioner, they said i can go to small claims court, which if it means getting paid the right amount i will do. i just dont know how well i'll do in court.
i also got a private appraisal that valued my car at 20. they said its not in their policy to look at appraisals or even consider them so they dont have to look at it. state farm used NADA to determine the value of the car, but its absolutely clear that its an inaccurate source seeing as my specific car was valued at 20 and you cant even find a complete rust bucket with a half missing interior for 12k.
so im just seeking some advice, should i go to small claims court? what argument do i have? that im being treated unfairly or that they arent paying the true value of the car/using inaccurate sources? i dont know what insurance companies are legally required to do when handling another party's case.
or should i try to squeeze any extra money i can out of state farm?
I should also say that my insurance is progressive, the other party's insurance is state farm. i only have liability (which was a mistake on my/my insurance agents part, i asked him to set me up with the appropriate coverage for my car, but i guess he didnt look at the value as you cant really find my car for any less than about 15)
my car is a pretty rare enthusiast/collectors car, and they have been shooting up in value over the last couple years. for my mileage and condition you see them going for 18-25. their first offer was for 6,000, i obviously said no, this was a super obvious low ball considering that they obviously valued the car at a bit over 8,000 at least if they were going to pay that for repairs. next offer was 12, and i said no again. and basically im stuck now, they wont go any higher. i talked to the insurance commissioner, they said i can go to small claims court, which if it means getting paid the right amount i will do. i just dont know how well i'll do in court.
i also got a private appraisal that valued my car at 20. they said its not in their policy to look at appraisals or even consider them so they dont have to look at it. state farm used NADA to determine the value of the car, but its absolutely clear that its an inaccurate source seeing as my specific car was valued at 20 and you cant even find a complete rust bucket with a half missing interior for 12k.
so im just seeking some advice, should i go to small claims court? what argument do i have? that im being treated unfairly or that they arent paying the true value of the car/using inaccurate sources? i dont know what insurance companies are legally required to do when handling another party's case.
or should i try to squeeze any extra money i can out of state farm?