All Life Insurance Tips

NY rear ended accident help?

I was recently hit in a rear end accident. I was driving a 2004 Chrysler Crossfire, the car that hit me was a 2003 BMW. I was driving on a road, slight rain, slight sun and noticed cars coming to a stop infront of me, I came to a stop, looked in my rearview mirror and saw a car coming fast, could see he applied his brakes and was coming at me, I didnt want to get sandwiched, I let off the clutch and moved at a 45 degree angle next to the car infront of me. I was hit, thrown about 75 feet, thru a ditch and came resting on a front lawn of a home. My car is a mess, already at 5300 in damages, they have found a crumpled floor pan and must now look at the underbody. Both cars will likely be totaled out, he hit me about 45 to 55 mph. I struck my chin on the steeringwheel and braced for the impact. The police said this is usually not good, cause my right shoulder, arm, neck and today my lower back is hurting me. I am going to the Orthopedic today to get checked, getting harder to sleep at night due to discomfort and pain. My right arm feels like the hand is swollen up, numb a bit. I have contacted my insurance company due to Medical expenses. I know NY is a no fault state, so will this affect my insurance rates. I have Gap insurance, so my car note will be gone, I will be out of a car, I also have now first time in my life back and neck pain, I am 36. I am not working cause I had to move from FL to NY due to family issues. I am not sure what I need to do. I am worried I will be left without a car when this is all said and done. I know I must be made whole again, but what will happen when the Car note is paid off? Will the other insurance company buy me another car? What if my medical bills exceed 10K? I am very nervous, my first ever car accident. I am just angry cause my life was great, now I fear this accident will cause me serious problems! The kid who hit me, said he lost sight due to the sun. Any advice please. My car is registered in FL, accident took place in NY. Im angry if this is how the system works then! I was going along fine in life, now, I may be left stranded literally without a car? I dont get this, i thought I was to be made whole again, like having a car. I know and understand my Gap Coverage, but I am not employed right now, so I will not be elegible to get a car thru financing. I just dont get this.. The kid who hit me basically ruined my car and hurt my neck and back. I dont get this...

Public Comments

1. Unfortunately no, although the GAP will help pay off your loan, you will be out of a car. The other insurance will not give you another. Consider yourself lucky you had GAP (small consolation, I know). As far as the medical goes, if your PIP runs out, you may have to sue the other party for covering the rest of your expenses. I suggest speaking to your adjuster for clarification and help with what to do. Good luck and speedy recovery
2. Hi. You asked if the other insurance company will buy you a car. The answer is no. They will only compensate you for your vehicle's market value. That is - what it was worth right before the accident. If you owed as much as the car was worth...they will pay the legal owner of the vehicle (your lien holder) and you wouldn't get anything. If you didn't owe as much as the car was worth...they will pay what you "owe" on the car to the legal owner and then you would get the difference. You can do whatever you want with that money. If your med bills exceed $10K, you'd have to look somewhere else for coverage. un/underinsured policies, health insurance... I hope your injuries aren't that severe and you can recover quickly. Good luck.
3. Get your local yellow pages out and go to the biggest section.Attorney! They will negotiate a fee with you.Usually a percentage plus costs.Then they will take over all billing issues.Medical, auto, therapy...They will negotiate a settlement on your behalf.Also they will likely tell you to go and rent a car until yours is fixed.Your insurance will tell you if you qualify.Do not give any statement to their insurance.Your attorney will advise you about this.When your bills exceed 10K their insurance should kick in.They should give you a fair market value for your car and compensate you for pain and suffering for now and the future.
4. you are out a car, the policy will pay to the limit shown on the declaration. Yout medical bills will be paid first by your PIP, (80% less deductible) and when the limit you chose has been reached (probably $10,000, right?) then the other driver's bodily injury coverage, if he has it, will pay to its limit also-then you sue him personally. your insurance should not increase due to a not at fault accident. it is possible to buy insurance coverage that will pay out more, but you have to pay more FOR the policy-so you get what you pay for, basically. You can also make a claim for hiring someone to do things you normally would but can't-mowing the lawn, housework, and the like.
5. The other posters are correct. The other company owes you for your car damages or the value of your car pre-accident period. Luckily you have gap coverage, so you should not be out of pocket. So say the company values your car at $9K and you owe your loan $10K, the gap will pick up the addtl $1K you owed on this car; Otherwise if you did not have gap, you would be out of pocket $1K for the loan; But let me give you another example. Your car is worth $12K, you have a loan for $10K, so they pay your loan and they give you a check for $2K balance of the value of your car. In most cases unless your car is almost paid off, it does not happen this way and many people find themselves with a totaled car and still owe the loan. So that is the beauty of gap insurance since it prevents this. Granted you will no longer have a car and you state just moved, unemployed, but if you have been making your payments on time, why would they not give you another loan for another car?? If not for this accident, you would still be paying on the loan and they would not care, as long as the payments kept coming. But if you have been late on your payments, they may deny you since they may believe you are a bad risk, regardless of the accident or not. As for your medical bills, YOUR insurance PIP will pay subject to your co-insurance and deductible up to the limits you chose on your policy. Since the accident happened in NY and is no fault state, you will need to clarify if you are entitled to a settlement for your pain/suffering. Call YOUR insurance company and ask them what the laws of NY are in regards to a settlement for your injuries. They will guide you. IF you should decide to get a lawyer, 1st ask YOUR company about the laws of NY. A lawyer will only handle your injuries, they WILL NOT handle the damages to your car and THEY CANNOT get more for your car than it was worth. Property damages are black/white, they pay what they owe, NO MORE/NO LESS. IF YOU ARE ELIGIBLE FOR A BODILY INJURY SETTLEMENT, then you might get more money for your injury, but the lawyer will take 1/3 of any settlement and many times a person can get more W/OUT a lawyer. Lawyers are like cheap car salesman, you walk away thinking you got a great deal, then later find out you got ripped off. Also if you get a lawyer, expect to settle in about a year. good luck