Should i accept the insurance companys 2nd offer?

Was hit in the rear by an impaired individual who had dental work performed. He
was also texting and did not attempt to brake before hitting me. Totaled both
vehicles. First insurance offer was 500 and six months later 5000.

Asked on March 19, 2017 under Accident Law, Illinois


SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

You don't mention being injured, so this answer will assume the only loss to you was your car. What was it worth at the time--*not* what it cost you, or what it would cost you to replace, but it's then-current fair market, or "blue book," value as of when it was totalled, given make, model, year, mileage, condition, etc. That would be what you'd be entitled to if you sued and won. Given the cost, time, effort, and uncertainty (no case, even a good one, as you appear to have, is ever 100% certain--don't believe any lawyer who tells you it is) of a lawsuit, if $5,000 is within a $1,000 or $2,000 of the fair market value, you may wish to take the offer, to get the money now, guaranteed, instead of suing for it. If it's not close to the car's value, either hold out for more or sue for it.

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