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Smart Shopper Questions About Auto Insurance & Accidents
4410 messages, Last post on Nov 29, 2009 at 5:58 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Hope the experts on this board can help... I have a 2006 BMW 530xiT (wagon) that got caught in a flash flood and sustained extensive water damage. The initial estimate came out to be about $20k including a new engine. I have heard too many horror stories of recurring electrical and mechanical problems after water damage that I want the car totaled. However, due to my car being so new, insurance company is inclined to fix the car. What is the best course of action to convince the insurance company to total the car? Any advice would be much appreciated.
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Replying to: pgill (Aug 28, 2006 11:04 am) you can try to keep talking to your insurance company, but, honestly, its going to be REAL tough to get a company that is in business to make money to pay out $40k to total a car rather than $20k to fix it. |
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Do you know what's the number that insurance companies, specifically AAA, are looking when they ask how many miles a year we drive? This has to do with the premium price. Let me be more clear. If I signed with AAA 1 year ago and had, let's say 15k miles. After 1 year they want to know what's the current mileage reading, so they can figure out the new premium. How much would be a good number to avoid increased premium? Know what I mean? Thanks
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Replying to: skuba (Aug 28, 2006 11:57 am) Um... we don't allow promotion of illegal activities, and insurance fraud (which is what you'd be committing by lying about the mileage) falls under that category.
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Replying to: skuba (Aug 28, 2006 11:57 am) If you falsify your odometer reading what is your plan when you are involved in an accident and the truth is then made known? |
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Replying to: kirstie_h (Aug 28, 2006 12:06 pm) tidester, host
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Replying to: tidester (Aug 28, 2006 1:48 pm) I have 2 cars. I would try to keep it under that mileage if possible.
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Replying to: skuba (Aug 28, 2006 2:26 pm) I am delighted to hear that we all misunderstood what you meant.  tidester, host |
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How about just reading them the number on the odometer???...I am not sure "what you mean", but giving them the actual number and the actual miles driven may almost be the intelligent thing to do...anything else but the simple, true info will surely backfire on a claim somewhere down the road, when they refuse to pay a claim based on misinformation, intended or unintended...Know what I mean??? pgill...feel free to read back about 100 posts if you have the time...one thing that folks seem to think is that they will "convince" the insurance to total their car when it is nowhere near totalled...what we REALLY want is to be rid of a damaged car that is no longer the virgin auto that it was prior to the wreck...the insurance has the sole power to total or not, and if the repairs are only 50% of the value, then totalling is probably impossible...why would an insurance company spenmd $40K to total a car that can be fixed for $20K???...if it was your money, would you??? hawaiihunny: using Canadian Direct makes me think you are Canadian, but your name makes me think you are in the US...which is it???...if CDI is a Canada based company, I do not know anything about Canada laws and rules...and if you are a US person, and just the name is CDI, I still would not know if Canada can do that, altho I would tend to think that if a Canada company sells insurance in the US, they would have to agree to abide by the laws of the state in which they sell...but, what do I know, I just work here... |
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I plan to cover my rental car under the Loss Damage Waiver insurance of my credit cards for 10 months. I will be returning the car every 30 days and rent it out again with another credit card. Has anyone done the same thing? Is it safe? Someone also told me that the LDW of credit cards does not cover vandalism and damage due to natural disasters. Is this true? Thanx. |
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Smart Shopper Questions About Auto Insurance & Accidents
