What do I do if I have the same insurance company as an at-fault party and I'm not getting a fair value for my totaled vehicle in Illinois?

The amount that the insurance company is offering isn't anywhere close to covering the cost of my vehicle. I've gotten reimbursed for my custom parts and equipment, but their assessment is still $5,000 less than what I need to replace my car. Should I get a lawyer?

Answer
“If you feel that your car insurance company isn’t offering a fair price for your vehicle, you can try to negotiate with them or consult a lawyer. However, your payout is determined by the car’s actual cash value, which includes depreciation. This means you won’t get what you paid for the vehicle originally.
You should be provided with a breakdown of your insurance company’s assessment. If you don’t agree with any part of their assessment, you can discuss it with them.
In the future, it may be worth adding new car replacement insurance to your vehicle. As long as your vehicle meets the requirements, your insurance company will pay for a replacement car of a similar make and model.”
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Emily Maracle
Answered on May 07, 2021
Emily Maracle is a car insurance specialist living in New York. Originally from the Pacific Northwest, she has a degree in English Literature and a background in customer service. She enjoys cooking, gardening, and living sustainably. In the future, she can't wait to upgrade to a hybrid or electric car.
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