Multiple parked cars damaged...
Multiple parked cars were damaged in a Walmart parking lot. A person came and hit a total of 7 cars. My car was brand new, bought 4 days back. I paid $3000 as a down payment and had the remaining $15,500 on finance. I have collision and uninsured/underinsured coverage in my policy.
The person who hit the cars was arrested by police and I got the police report to submit claim. I have Farmers insurance and I have submitted the claim. I believe the police were saying that the other person who hit all the cars had insurance.
Can you please let me know what is the process after I submit the claim?
My adjuster is saying that we can claim on my policy, since there are many cars involved and it will take time to come to a conclusion. I said 'No' because if I claim on my policy my insurance premium will go high, even though I had no fault. Please clarify this for me.
The at-fault driver had Farmers Insurance and even though he has minimum limits (suppose $25,000/$50,000) on his insurance, that $25000 will not fulfill the damages for all 7 cars. In this case, how does compensation work?
I believe my car will be totaled because it was a bad hit (not sure at this point, I have the insurance person visiting in next few days).
What will happen if I don't get anything from the at-fault driver's policy? If I submit a claim from my policy then I premium will go high, right? That doesn't seem fair. How much time it will take to complete this process? Thank you for any information you can give. I'm really not sure what to do here.
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ANSWER for "Multiple parked cars damaged...":
Your options are limited.
File a claim with the negligent driver's insurance company as soon as is practicably possible. Also contact the agent who sold you the insurance (if you purchased through an agency). You want as many people fighting for you as possible.
The sooner you file your claim, the sooner it will be reviewed by the negligent driver’s insurance company, and the better chance you will have of recovering a more substantial piece of the "property damage insurance pie."
If you need your car repaired, or totaled so you can move on, you will need to file a claim with your own insurance company. You will be paid a lot faster than having to wait for the 7 insurance companies to fight over who gets paid first, and in what amount.
Because you weren't at fault, your insurance premiums should not rise. Of course, every insurance company is different, and your history of prior claims (if any) may play a role as well.
The above is general information. Laws change frequently, and across jurisdictions. You should get a personalized case evaluation from an attorney licensed in your state. Find a local attorney to give you a free case review here, or call (888) 647-2490.
Best of luck,
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