Auto Insurance Claims: accepting the other insurances offer, jeep cherokee laredo, jeep cherokee

Question
I was in a car accident and it was not my fault.  the other insurance admitted fault.  I own a 91 jeep cherokee laredo with 289000 miles on the odometer.  The person who sold it to me said that the motor was replaced and only had 90000 miles on the rebuilt motor.  The insurance place is wanting to give me 700 dollars for my jeep.  I dont want to accept that.  I cant go out and buy a jeep for that.  What should I do?  The other option they gave me was to keep the jeep and get 500 dollars.  The adjuster quoted 1400 + in damages.  My rental is due back by the 8th of march.  My jeep was in great running condition.  The paint job is fading on the roof.  My jeep is out of the towing yard and is sitting somewhere the other insurance place to it.

Answer
The liability carrier owes you the actual cash value of the Jeep you own, which is defined as the cost to replace it with one of like kind and quality. If you have documentation on the improvements and repairs made to enhance the Jeep's value, you should submit them to the liability carrier. However, you should know that the other party's insurance company has no legal duty to you, but their policyholder does. So that is where you apply the pressure. Send the at-fault party a certified letter stating that the offer made for the Jeep he damaged is insufficient to replace it and you will be holding them legally liable for the loss. Until you have been made whole, do not accept their offer.