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NSW Car Insurance Write-Off and Finance Shortfall

Discussion in 'Insurance Law Forum' started by James Lotam, 8 August 2014.

  1. James Lotam

    James Lotam Member

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    I've recently had a car accident a month ago, which was the other cars fault. My car is on finance ( car loan) and has been for about a year, finance is around 30 grand but now my vehicle is not road worthy and the car insurance company is only offering to pay $12,000? And is wanting there accident replacement car back! Which will leave me with a half paid finance and a broken car? Which leave me with a bill. What do I do? I need help.
     
  2. John R

    John R Well-Known Member

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    Hi @James Lotam,
    Was your car insurance for agreed value or market value (I assume market value based on your car insurer's offer)?
     
  3. Mike Pol

    Mike Pol Member

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    Hi James,

    Read your policy.
    If the accident wasn’t your fault you may be able to use a credit hire company rather than your insurance company.The claims process will be easier to understand if you know the details of your coverage and your responsibilities.
     

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