There is a large range of value represented in the cars on the Georgia roads. Some people drive vehicles that they purchased used with hundreds of thousands of miles on them. Those cars may only have a salvage value of a few hundred dollars.
Other people drive brand-new or late-model vehicles worth as much as a small home. Luxury vehicles can also be quite expensive, as can specialized vehicles retrofitted for those with physical disabilities.
The more a car is worth, the more of an uphill battle you may have to deal with after a car crash. The insurance of the driver who caused the crash will be the one that pays for the damage to your vehicle. They might try to offer you a very low settlement amount that leaves you with uncovered costs.
Insurance companies adjust for mileage and other factors
Even if the company agrees that your vehicle is no longer safe to drive and has therefore been totaled by the crash, the company isn’t just going to write you a check for the purchase price of your vehicle.
Instead, they’re going to look at the current fair market value of the vehicle based on its physical condition and mileage. If there is rust, a dent in the fender or other signs of wear, that will reduce how much the insurance company will offer you to replace the vehicle.
Insurance policies are subject to strict limitations
Even if the insurance company doesn’t dispute the value of your car, they may not offer you compensation for what it is work. They will only pay the maximum amount purchase in coverage by the driver who caused the crash. Under Georgia law, that could be as little as $25,000.
You need to be ready to counter low-ball offers or to take additional legal action against the other driver if insurance won’t cover the cost of damage to your vehicle in a crash. An experienced attorney may be able to help.