what can be done to replace my car after accident

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what can be done to replace my car after accident

on 5/24/2018 i was hit secondarily after a van ran a stop sign and was struck by
another car, sending the van back into me. My insurer totaled my car, which the
payoff was less than my remaining balance, still have to complete my gap coverage
to pay remainder of loan. My question is even though my wife and I suffered no
major injuries, is it possible to recover damages to replace my car

Asked on May 29, 2018 under Accident Law, Ohio

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

If your car is destroyed ("totalled") in an accident, all your insurer, the at-fault driver, and/or the at-fault driver's insurer has to pay is the then-current fair-market value (or blue book value) of your car: that is, between everyone who might have to pay, you only get a total amount equal to what the destroyed car was worth when it was destroyed. The law does not take into account what it would cost you to replace the car, since that, of course, varies with  how car prices have risen, the car you would replace it with, and many other factors having nothing to do with the value of the thing (your car) destroyed or the fault of the other party. Similarly, the law does not look at what you paid for the car in the first place, since that is all over the place--some people get good deals, some bad, some get cars as gifts from family or friends or significant others, etc. All you can get is the fair market value; if you have already received that, you are not entitled to any more money from anyone.


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