Auto Insurance Claims: Auto Accident Vehicle Totaled out, model options, insurance company

Question
my car has been considered a total loss.  The insurance company will pay me a cash value.  This cash value will not be enough to get me another vehicle equal to what I had.  The value of the cars in my area is also more than the cash value they want to give and I can't find a car for the amount they want to give me.   The blue book and NADA book list my vehicle about a thousand dollars more.  But they claim they only have to pay me  cash value and that they do not have to replace what I had. Why don't the insurance company have to reimburse me for my total loss or give me enough to be able to replace my vehicle or why I can't get compensated for the loss of use of my property?  How do I get them to reimburse me enough for me to be able to buy a replacement vehicle without it costing me?  

Answer
Hi Lillian,

The insurance company is responsible for paying you for the actual cash value of your car.  There are many factors that go into determining the actual cash value, such as; the year, make, model, options, condition and geographical location.

Often insurance companies will try to lowball the value of a vehicle. It is up to you to do the research of the value of your vehicle and present the insurance company with documentation that justifies a higher price. You should look for newspaper ads in your area for vehicles like your that are for sale.  You can also check www.autotrader.com to find currently for sale vehicles like yours. If you find information that justifies a higher price, print it out and send it to the insurance company to negotiate a better price.

I hope this helps.

Richard Hixenbaugh