NSW Car Insurance Write-Off and Finance Shortfall

[James Lotam]

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.

 

[John R]

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

 

[Mike Pol]

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.