Auto Insurance Claims: Property Damage Policy Limit, casualty loss, assetts

Question
I was involved in a 5-car collision while stopped in traffic. The responsible party's insurance says that there is not enough money to cover for the damages of all cars. They want to pay me only 60% of the damages to my car. What can I do to recover the  unpaid 40% of the damages?

Answer
Hi Silvia,
Unfortunately, situations like this happen quiet frequently.
Many people who have no assetts just purchase the state minimum coverage.
If you carry collision, you can always have your own company repair your car.  Otherwise, you will have to settle for the 60% and the balance can be used as a casualty loss when you file your state and federal income tax.
I hope this has been of help.
Your feedback by rating my answer will be appreciated.
Sincerely,
Bennie
San Francisco Bay Area