In New York, the statute of limitations on torts is 3 years, this means that you need to file suit against the at fault driver within 3 years of the accident.
If the insurance company is offering you an unfair loss in value amount, you need to hire an independent appraiser to rebut their valuation.
You can also escalate the claim by contacting the New York Insurance Commissioner.
To get the process started and to get a free estimate, please fill out the form below.
Insurance Bad Faith in New York
Citation: N.Y. Ins. Law §40-d 2402(2)
Note: No subsection (2) to §40-d 2402 is identifiable. This seems to be the right area for your interest, but the citation is not clear.
Article 24 Insurance
§ 2402. Definitions. In this article: (a) “Person” means any
individual and any legal entity subject to any provision of this
chapter, engaged in the business of insurance in this state, including
any reciprocal exchange or Lloyds insurer, or in the business of life
settlements.
(b) “Defined violation” means the commission by a person of an act
prohibited by: subsection (a) of section one thousand one hundred two,
section one thousand two hundred fourteen, one thousand two hundred
seventeen, one thousand two hundred twenty, one thousand three hundred
thirteen, subparagraph (B) of paragraph two of subsection (i) of section
one thousand three hundred twenty-two, subparagraph (B) of paragraph two
of subsection (i) of section one thousand three hundred twenty-four, two
thousand one hundred two, two thousand one hundred seventeen, two
thousand one hundred twenty-two, two thousand one hundred twenty-three,
subsection (p) of section two thousand three hundred thirteen, section
two thousand three hundred twenty-four, two thousand five hundred two,
two thousand five hundred three, two thousand five hundred four, two
thousand six hundred one, two thousand six hundred two, two thousand six
hundred three, two thousand six hundred four, two thousand six hundred
six, two thousand seven hundred three, three thousand one hundred nine,
three thousand two hundred twenty-four-a, three thousand four hundred
twenty-nine, three thousand four hundred thirty-three, paragraph seven
of subsection (e) of section three thousand four hundred twenty-six,
four thousand two hundred twenty-four, four thousand two hundred
twenty-five, four thousand two hundred twenty-six, seven thousand eight
hundred nine, seven thousand eight hundred ten, seven thousand eight
hundred eleven, seven thousand eight hundred thirteen, seven thousand
eight hundred fourteen and seven thousand eight hundred fifteen of this
chapter; or section 135.60, 135.65, 175.05, 175.45, or 190.20, or
article one hundred five of the penal law.
(c) “Determined violation” means any unfair method of competition or
any unfair or deceptive act or practice, which is not a defined
violation but is determined by the superintendent pursuant to section
two thousand four hundred five of this article to be such method, act or
practice.
