estherkinyua
New member
My 2 month old Tesla Y was hit and totaled by an individual, clearly at fault (video shows them running into back of stopped car without braking at 40 mph).
Geico (the guys insurance) let’s me know that their insured property limit is no where near the value of my car. Minimum property limit for my state is $25k.
Now my car insurance property limit is insured at $50k and the recent price paid for the Tesla was $62k with tax, fees and registration. I just started a claim with my insurance, what will happen? Will my insurance offer me $37k + $25k from his insurance and then sue him? Will my insurance offer me $50 (my limit) and sue him? Will I get only $25k from his insurance and be stuck with no car and the payments? Some other outcome?
Geico (the guys insurance) let’s me know that their insured property limit is no where near the value of my car. Minimum property limit for my state is $25k.
Now my car insurance property limit is insured at $50k and the recent price paid for the Tesla was $62k with tax, fees and registration. I just started a claim with my insurance, what will happen? Will my insurance offer me $37k + $25k from his insurance and then sue him? Will my insurance offer me $50 (my limit) and sue him? Will I get only $25k from his insurance and be stuck with no car and the payments? Some other outcome?