If I had an accident and the valuation of my vehicle is less than I owe, what are my options?

UPDATED: Sep 30, 2022

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If I had an accident and the valuation of my vehicle is less than I owe, what are my options?

I bought a used vehicle a month ago; the other day a driver fell asleep at the wheel and totaled it. I have collision and comprehensive insurance. My insurer represents both parties in this

accident. My loan is for $15,910 and they want to pay me $14,000, essentially putting me $2000 in debt. What are my options to get them to make me whole again?

Asked on June 30, 2016 under Accident Law, New Hampshire


S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

Your only recourse is to reject the settlement offer and file a lawsuit for negligence against the at-fault party.  Your damages (monetary compensation you are seeking in your lawsuit) would be an amount to compensate you for the loss of your car.

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