My vehicle was hit while parked in a parking spot the person who hit it is 100% at fault but only has $5000 insurance coverage? The damages to my vehicle total up to $6100. I am in New Jersey the police report shows that they are 100% at fault for the accident. But since they only have $5000 coverage their Insurance company said to go through my insurance my question is will I be charged my $500 deductible and then take the full hit of $6100 for the repairs to my policy? Or will my insurance go after their insurance collect the $5000 and cover the difference? Will my insurance payment go up as a result of this? What is the best route to take in this situation? Going through my insurance would leave the responsibility of the person who hit me not accountable for the damages?
You should make that collision claim. Then your company will collect back the 5k, then return to you a proportional part of that deductible. That or ask your adjuster if you can accept 500 from the other company and make that collision claim, if your company says yes, get it in writing. Good luck.
Advice given in this forum does not create an attorney - client relationship. No advice should be relied on without consulting with a local attorney.
You need to make the collision claim in this situation. Yes, your deductible applies. Your insurance go after the other driver's insurance to collect the $5000. Your insurance premium will not go up. The other driver is accountable. His insurance (which he purchased to be accountable) is out $5,000. Also, your insurance company will subrogate to your rights to sue him (and probably will) for the other $1,100.
This information is presented as a public service. It should not be construed to be formal legal advice nor considered to be the formation of a lawyer/client relationship. I am licensed in New Jersey and my answers are based upon the law in that jurisdictions. My answer to any specific question would likely be different if I were to review a client's file and have the opportunity to interview the client. Accordingly, I strongly urge you to retain an attorney in your jurisdiction with respect to any legal matter.
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