A tree fell on my car causing severe damage. I purchased the car on 12/24/2008. What should I expect from my insurance co.

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A tree fell on my car causing severe damage. I purchased the car on 12/24/2008. What should I expect from my insurance co.

If repaired do I have to take the car. It will loose alot of resale value that I should be compensated. How many days do I have until the insurance must settle? How many days do I keep the rental car if they payoff the car and I am left to find another one.

Asked on June 19, 2009 under Insurance Law, North Carolina

Answers:

J.V., Member, New Jersey Bar / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

how much the insurance company pays you is unfortunately never the same as the value of the car. If totalled they will consult a chart that defines payouts and if they choose to repair the car any loss of value due to the accident will not be compensated.

There is no set number of days to settle unless set forth i your contract with the insurance company which you should consult regardless to look and see exactly what your terms of coverage are and it will answer all your questions regarding time lines etc. As for the rental car usually that is provided until the car is repaired and if the car is totalled that again is something that should be set forth in your contract.

All insurance coverage is different so without the terms in front of me I cannot answer about time and coverage amounts. If you feel your settlement amount is less than what it should be I suggest constulting a local attorney who can review your coverage terms and the package provided deciding if in fact you were entitled to more than provided. Good luck


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