Rear ended, caddy totaled!

[caddysrcool]

So I have a 1980 Cadillac sedan deville that was rear ended a few days ago. It only has 70,000 original miles, so its a real bummer. Some lady was on her phone and hit me hard enough to buckle the roof! Her insurance policy covers up to $10k in damages and the company is coming this week to tow and assess my car. I've compiled a bunch of listings for the same car with similar mileage and the average value is around $13k... I'm just wondering what to expect to hear from them in terms of a settlement offer and if I should get an attorney involved.
Thanks!

 

[adjusterjack]

Sorry, but there's bad news all around.

1 - Her property damage liability limit is $10,000. That's the maximum you will get from her insurance company.

2 - If you even get $10,000 and accept it, you'll have to sign a release which prevents you from suing her for more money.

3 - If you decline the offer your option is to sue her for what you can prove the car is worth. If you win, her insurance will pay you $10,000 and you'll have to collect the difference from her. Understand that people who carry only the state's minimum required limits generally don't have any assets that can be attached and a lot of that is exempt from attachment, other than wage garnishment which means that you get your money in small doses over a long period of time.

4 - NY small claims limit varies. In NYC, Suffolk and Nassau Counties the limit is $10,000. Outside of those areas the limit is $5000 in cities and $3000 in towns. If you want to sue for more it will have to be in a higher court were procedures are more rigorous and you'll need a lawyer.

5 - If you hire a lawyer you'll spend thousands that you won't get back. Whatever you win above the $10,000 potential payout by insurance will be more than offset by your lawyer fees. Lawyers don't take property damage claims on a contingency.

6 - You've compiled a list? From where? Ads? Asking prices are often 10% to 15% higher than selling prices. You might have a hard time proving a $13,000 value in court unless you pay for an expert appraiser to testify, thus adding more cost to your quest.

7 - Do you have collision coverage? If you do, then make the claim on your own policy and let your insurance company seek reimbursement. If you don't have collision coverage you're at the mercy of whatever her insurance company offers.

8 - Were you injured? If so, you might do better filing an injury claim as well. Whatever you get for an injury might offset your loss on the car.

9 - One value guide, NADA, puts your car's value at under $7000 in excellent condition. I haven't looked at KBB or Edmunds. You should. Please, I'm not inviting an argument as to your car's value. It's not me you have to convince. I'm just telling you what you may be up against. Even if you could get a premium price for the low mileage the insurance company may still offer less than $10,000.

All you can do at this point is wait and see what her insurance company offers. Then come back and report.

 

[caddysrcool]

Thanks a lot for your reply. I do not plan on suing her for the difference, so guess I'll just have to keep my fingers crossed. I will let you know the outcome for sure!

 

[Lawsonhj1]

# 2 above I live in AZ we were able able to hold firm and didn't sign the release when rear ended for diminished value small claims court ruled in our favor $1,600. The guy that hit us is a pawn shop bullion and firearms dealer still won't pay. So for what it is worth just because he pissed off the Mrs. he will be going to court again.

 

[adjusterjack]

# 2 above I live in AZ we were able able to hold firm and didn't sign the release when rear ended for diminished value small claims court ruled in our favor $1,600. The guy that hit us is a pawn shop bullion and firearms dealer still won't pay. So for what it is worth just because he pissed off the Mrs. he will be going to court again.

Why isn't his insurance company paying on that judgment?

 

[Lawsonhj1]

He had minimum limits for property damage and caused damage to two vehicles including ours so maxed out policy limit. My wife just refused to settle until verbiage gave her right to pursue claim for diminished value. Maybe the adjuster just need to move the case off his desk not sure. Other than a learning lesson not sure if it is worth it for most people. We paid about $300 for an online diminished value report plus small claims expenses. Small claims judge knocked it in half ruled in our favor so unless we collect we will be out diminished value plus several hundred dollars and a couple hours of time. I am still betting on my wife to prevail I am not saying she is stubborn I just know her.

 

[adjusterjack]

Maybe the adjuster just need to move the case off his desk

That's it, exactly.

unless we collect we will be out diminished value plus several hundred dollars and a couple hours of time. I am still betting on my wife to prevail I am not saying she is stubborn I just know her.

Frankly, I wouldn't blame her for going scorched earth on this. So here's some advice.

If this hasn't been done already, send a letter demanding full payment by a certain date. Two weeks should be enough. Include a copy of the judgment. In the letter advise her that if she doesn't pay you will record the judgment and it will become a lien (per ARS 33-964) on her home (if she owns one) and effect her credit.

You can find out if she owns her address on any county assessor website.

ARS 33-964 lien law:

View Document (azleg.gov)

Instructions for recording the judgment:

View Document (azleg.gov)

You can also file for wage garnishment and/or bank account levy if you know where she works and/or banks.

If you don't know, you can find out through a debtor examination.

You can also have her license suspended. Include that in the letter if you like.

See the following information from Maricopa County Justice Court:

Collect_Money_Judgment_packet.pdf (maricopa.gov)

If you are elsewhere in AZ, your local court's website should have all that information.

Come back if you need more help. Or to report success.

 

[Lawsonhj1]

Thanks, I am the form filler outer. This is just another one of those procrastination things so I should just pick one, have her place a bet and go wager.

 

[adjusterjack]

I wish you the best then and will leave you with a story that might encourage you. I had a tenant long ago who stiffed me on rent and damaged my property. I sued for eviction and damages and got a default judgment. I had her bank information from her rent checks. She was an employee of that bank. I found out when pay day was. I filed for wage garnishment and account levy at the same time. I got all but about $45 of the debt. She had checks bouncing everywhere. She squealed like a stuck pig and called me every name in the book. Quit her job right after that. I was very happy.