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- Oct 13, 2013
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And where did the "valued at $3.5K come from". Was it her insurance, or the third party?
As described, with the other party totally at fault, they are liable for damages to return the injured party to their original position. Whatever the insurer might try to say (hint: it is valued at $3.5K, here is the money, your problem now), if your EA found for an equivalent vehicle - same make, model, age, equivalent condition (mileage etc.) then the cost to acquire that vehicle is what the other party should have to pay. Whether that was $3.5K or $13.5K - the actual cost in the real market when needed would be what applies - not some notional estimate.
Of course, taking on an insurance company may not be so easy for most.
Sure that's one way of looking at it but that would likely involve lawyers making demands and going to court etc etc. Alternatively your EA could have battled it out with the other party without the lawyers and her insurer and perhaps come up with a better deal.Involving the insurance company effectively means you are assigning the right to contest the claim to them. And the insurers for both parties will just settle accordingly
I think most courts would only award the market value of the vehicle anyway.
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