Isaac asked: Las Saturday my wife was rear ended by a drunk driver with no insurance and a suspended license. She is fine, but the car is a total loss. Our insurance company hasn’t given us a settlement yet but have told us it will be totaled out. We have uninsured motorist insurance.
I check Kelly Blue Book and it looks like we still owe quite a bit more than the car is worth. Luckily we have gap insurance on the car. What I want to know is, is there any way we could get money on top of what we owe in order to put down on a new car?
Everywhere I’ve researched (besides asking our insurance company directly) it looks like we’d only get the value of the car. Couldn’t we at least get what we put into the car?
If anyone knows how this would work in Texas, please let us know. Also, would it make sense to hire an attorney in this situation?
Thanks in advance.