My situation: 2003 Hyundai Santa Fe 4 cyl 40,700miles purchased:2/17/2007 for 11,000.00 put 5000.00 down
Wrecked 2/24/2007 deemed total loss by insurance company full coverage policy. Received offer within one week for 8600.00 before paying deductible 500.00, I refused the offer because because it is worth more than 8600.00. They told us they were only obligated to give us payoff amount(lie#1)
I obtained an independent appraiser per my policy. The insurance company refused to talk to my appraiser and refused to hire one for their side(per their own policy). They told my appraiser they had to be licensed in Texas(lie#2)My appraiser is a national company. They told me the report my appraiser produced was not good because none of the vehicles compared to mine were in Texas. (Lie#3) I turned them into the Texas Department of Insurance. The then told us they hired an appraiser and they would be contacting mine. That was almost 2wks ago, still nothing. Do I have a legal case?
Kelley Blue Book listing for my car, with low mileage and excellent condition is about 14,300
Report about Auto Insurance information
You may have a case (you also may not), you should seek the advice of a lawyer in your area.
Good luck!
As far as I know,insurance only has to pay what the book value of the car is. Doesn’t matter how much you owe on it or how much you paid for it. This is the way it has always worked for me when I had accident damage.
Do an online value for your car on the Kelley blue book site,that should give you some idea if you are getting shafted.