No you do not.
You may bring a negligence lawsuit to recover all the damages you suffered.
The insurer almost always low-balls the offer to get you to take the least amount possible. That is the job of the claims agent working the case, to settle low.
Studies show that the instant you affiliate with a lawyer to be your advocate, the settlement offer increases at least 7 out of 1o times.
Consequently, it is advisable to retain a lawyer so you get full compensation for your losses.
Often you will not be able to find the same car for the same price. The obligation of the insurance company is to pay you the fair value for your car. That is certainly not an exact exercise. It sounds like you just bought the car. In that case the purchase price is great evidence of the value. Otherwise, the best advice if you want to get a better offer is to do as much research as you can on the accurate value of your car and present that to the adjuster. There are many ways to research the valu including numerous websites like NADA, Kelly Bluebook, cars.com etc. You can aso research the dealerships in your area for comparable cars. All you can do is do your homework and convice the adjsuter to increase his offer. It can be done. Also, if you had collision coverage you might want to deal with your own company instead.
No you are entitled to the fair market value. You can ask your company to pay if you have collision coverage or just sue the at fault driver for full damages.
I would respectfully recommend that you review the Legal Guide I have published on Avvo.com which addresses property damage issues, particularly damage to automobiles.
Mr. Lundeen is licensed to practice law in Florida and Vermont. The response herein is not legal advice and does not create an attorney/client relationship. The response is in the form of legal education and is intended to provide general information about the matter within the question. Oftentimes the question does not include significant and important facts and timelines that, if known, could significantly change the reply and make it unsuitable. Mr. Lundeen strongly advises the questioner to confer with an attorney in your state in order to insure proper advice is received.
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