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Smart Shopper Questions About Auto Insurance & Accidents
3922 messages, Last post on May 17, 2008 at 2:33 PM
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Replying to: oldfarmer50 (Apr 18, 2008 1:47 pm) Same thing happened on the weather channel this morning. One of the anchors said something like "...if your bed was shaking this morning in Illinois..." and as they cut to a graphic she added "...not like that..." to the other two. |
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Replying to: oldfarmer50 (Apr 18, 2008 1:47 pm) Well, I think once the damage reached $500,000, then the Umbrella Policy would cover the rest up to a million. My 99' Buick Regal doesn't book that high though... with the way dealerships undervalue your trade and all.  But, I suppose homeowners insurance would get the first call, since the damage would be earthquake related, and the vehicle parked in my driveway.
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Replying to: jipster (Apr 18, 2008 2:17 pm) Many Independent Agents would increase the basic limits of Liability on a client's policy and if the insured balked, the agent would have the client sign a statement," I've been offered higher limits of Liability and choose to reject the higher limits". When faced with rejecting what was recommended, few signed the waiver. A year later, the same process applied to Umbrella policies for the selected chosen. |
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| how can i determin if my insurance company is giving me a fair price for my vehicle if they claim it is totaled | |
| Edmunds, KBB, NADA, and local papers to see if the price is fair...be sure the adjuster looks up the right make and model, as I have seen adjusters make offers on Accord DX when the client had an Accord EX-L... | |
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I was in a relatively minor accident when a person backed into my 2006 Porsche Boxster S. They are at fault and the accident happened in Georgia and their insurance company is State Farm. I bought it last year brand new from a dealer for $47,500 and live in Tampa, Florida where it is being repaired. My car only has 7,500 miles. The total damage is only $1,600 (based on estimate - however could be higher). Replacing front bumper, grill and headlights. I know the damage is relatively minor but I have no doubt that it will cost me at least another $1,500 to $2,000 in diminished value now that it has been in an accident when I go to re-sell the car. I am aware there is a high probablility that I will get nothing from the insurance company but am willing to try; therefore, I also don't want to sink a ton of $$$ into fighting them by hiring an attorney. So, my option is to try and fight them myself. I did a search on the internet and found several "specialists" on fighting a diminished value claim and they tried selling me $600 services that I would need. I have to believe with all the resources on the internet that somebody has posted sample letters and information that will assist me in fighting this without spending $600. I don't mind spending a couple of hundred but need a direction on where to get started. Can somebody help? Thanks in advance.
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| I am in the same situation. My attorney says the many diminished value appraisals are a scam. There is one law office in Arizona that handles it on contingency, nationwide, but not if you were injured. | |
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dealer how much less they would offer you on a trade-in due to the accident, and present that to the insurance... While I am not an adjuster, if a Porsche only has $1,600.00 in damage, it sounds like a dented fender or scratched piece of chrome, as NOTHING only costs $1600 on a Porsche except maybe a replacement ashtray or cigar lighter...  So, if it is truly light cosmetic damage, maybe there really is NO diminished value at all...
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drive it away from the crash or cosmetic such as remove and replace components. D.V. is on the table when the damage is considerable. Where do you draw the line between "That's life, suck it up" and major replacement of parts and paint? As your Porsche lost its virginity, our VP would say "So?" Insurance companies are not there to support the love affair you have with your car. |
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Replying to: atwnsw1 (Apr 27, 2008 8:33 am) Let it go would be my advice on this one. This PRESUMES of course that following: a. That the car is satisfactorily repaired and shows no evidence of repair. b. That proper OEM parts are used |
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