How perfectly socialist of you....
So my $70,000 Toyota Sequoia is only worth $50K to you and I am expected to foot the bill for your fault? I’ll see you in court for the balance of the damages, even if it means I have to take your mobile home and sell it to recover what I am owed to make me whole.
>>>So my $70,000 Toyota Sequoia<<<
Wow, I had no idea those cost so much. When I bought my 2014 Corvette Stingray I only paid $63,000 and that was for a 2LT with all the goodies including Mag Ride and the Z51 Package. I did get a pretty good deal on it. It stickered for $67,000 and that was when they just came out with the new Platform.
Then again, I bought it from a Dealer in MS and he told me they have Farmers and Ranchers come in and pay more than that for fully optioned Silverado Pickups. He said they would look at the Corvette and say, that much money and it only has two seats?
Depends on the area I guess. In CA, the Dealers were getting $10,000 over Sticker. I should have Sold it as soon I got it home. LOL
>>I’ll see you in court for the balance of the damages, even if it means I have to take your mobile home and sell it to recover what I am owed to make me whole.
You won’t be able to do this in most, if any, states. Anyway, you won’t be involved at all. Your insurance carrier will foot the bill through your uninsured/underinsured coverage and they will either go after the other party or drop it.
Whether its right or not, everyone is better off keeping their vehicle’s value reasonably close to the limits of the state mandated liability coverage plus whatever UIM coverage you can get that won’t raise your rates if there is an accident you need additional coverage on.