QuestionHow long does it take for an insurance company to settle and pay for my stolen car? How to they set a value for my car and are they also required to pay the sales tax?
Thank you!
AnswerHi Richard,
How long does it take for you to do the necessary research to fight for a fair value? You should contact three online sales sites (autotrader.com, edmunds.com, etc.), plus research the newspapers and some local dealers. What kind of time would that take? Maybe no longer than five days, maximum.
That is what I would hold them to. Be sure to gather your own evidence. If they do not respond in a timely fashion, call your state insurance commissioner http://www.settlementcentral.com/links.php
You do not get the full sales tax, no way. The value of the car is what the market would pay, exclusive of sales tax. INSTEAD, INSIST upon the prorated licensing fee--that is, the amount of time you have left on your license (in months), divided by 12 months, multiplied by the full yearly fee.
Be sure to check for other add-ons and new replacements that would have added value to the car, such as tires or rims. http://www.settlementcentral.com/page0007.htm
Best Wishes,
Dr. Settlement, J.D. (Juris Doctor)
www.settlementcentral.com
