With today being Wednesday we are going to post our weekly insurance question and answer. This weeks question: If I get into an accident, what happens if the other driver doesnt have enough coverage to pay for the repairs? You can file a diminished value claim with your insurer and if approved and paid theyll add that to the amount they sue the responsible party for. What recourse is available to get compensated for the fact that my car is probably worth significantly less, now that its been in accident that wasnt my fault? Youre going to file a claim with your insurance company and they would then probably sue him. Its not your responsibility to recoup that money, it is theirs. When you buy collision insurance youre buying protection for your vehicle, regardless of how the collision occurs. Your insurance company can worry about financial responsibility and being reimbursed, because that isnt your problem. Youve paid your insurance company for a coverage and they have to cover it because they agreed to it and entered into a contract with you by selling you the coverage.
Posted on: Thu, 23 Jan 2014 04:58:41 +0000
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