Should i accept the insurance companys 2nd offer?

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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. New Link Destination
taled both
vehicles. First insurance offer was 500 and six months later 5000.

Asked on March 19, 2017 under Accident Law, Illinois

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 7 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.


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

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