What to do if I was in a car accident and my insurance company paid me for my car but it was not enough?

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What to do if I was in a car accident and my insurance company paid me for my car but it was not enough?

I took out a loan and also had to apy for the rent a car out-of-pocket. The other insurance company has agreed to pay me for the rental. Do I also have the right to ask for a couple of thousand dollars as a loan to get my new car? I’m still paying on this. I’m not asking for any,more then my loan. Their client is completly at fault.

Asked on March 31, 2014 under Accident Law, New Hampshire

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 years ago | Contributor

While there may be certain few insurance policies that entitle you to the cost of getting a new car, most do not; typically, you are entitled to the then-current value (the blue book value) of your car, which is almost certainly less (due to depreciation) than either the amount outstanding on your loan or the cost of a replacement or new car. You should check your policy, but you probably have received all your are entitled to.


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