Totaled but underinsured now what

[Dosmastr]

Jurisdiction

New Jersey

Person with state minimum loaned car to person with suspended license. Driver totaled 2 cars and damaged a brand new truck.

They valued my vehicle fairly but given its only 5k to split between 3 vehicles I doubt I'll see much.... Surely they dont get to take my car for small amount of the percentage of the damage my car represents?

The car was worth 3500 (which is alot when you don't have it)
Is it worth going after owner or will I still be sol after legal fees?

If I file a uim claim, will that hurt my rates when I renew? Wil they then take the car for also not quite what it's worth?

 

[adjusterjack]

Surely they dont get to take my car for small amount of the percentage of the damage my car represents?

That's up to the insurance company. What did the claim rep say when you asked that question? If you haven't asked, do so Monday.

If I file a uim claim, will that hurt my rates when I renew?

Shouldn't, you weren't at fault.

Do you have UIM Property damage?

Wil they then take the car for also not quite what it's worth?

Somebody has to take it if you end up getting paid based on it's Actual Cash Value. You maybe able to keep the car if you reduce your settlement by the amount of the salvage value of the car. Again, something to ask your claim rep if you make the claim under UIM PD.

 

[zddoodah]

They valued my vehicle fairly but given its only 5k to split between 3 vehicles I doubt I'll see much.... Surely they dont get to take my car for small amount of the percentage of the damage my car represents?

Who are "they," and why would you think anyone might get to "take" your car? Also, since you shifted from third person in the first paragraph to first person in the second paragraph, it's not completely clear who you are in this scenario, but it sounds like you're one of the persons whose car was totaled. Correct?

Is it worth going after owner or will I still be sol after legal fees?

No one here is in any position to know what is and isn't worthwhile to you. You certainly can sue the driver since that's the person who's primarily responsible for your damage here. If you take a settlement from the owner's liability insurer, you will probably have to sign a release that will prevent you from suing the owner. If you were to sue the owner, you'd have to prove that he/she knew or should have known that the driver was unlicensed. In any event, for a $3,500 car, this is small claims territory.

If I file a uim claim, will that hurt my rates when I renew?

Do you have un/underinsured motorist property damage coverage? Most folks don't. If you do have it but are reluctant to make a claim when you need it, then why bother having the coverage (especially for a low value car)? In any event, call your insurer and ask this question.