Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Smart Shopper Questions About Auto Insurance & Accidents
4422 messages, Last post on Dec 04, 2009 at 6:46 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
|
|
|---|---|
|
Replying to: fintail (May 03, 2009 2:21 pm) Yes, if a third party is involved you can make a claim for diminution of value, even if the car is fixed properly (and especially if it doesn't look right or drive right)...but this will require that you hire an appraiser to establish the amount of diminution, and you must expect that the opposing insurance company will fight you to the death over a DV claim. They hate that. So be prepared for a long struggle and make sure it's worth it in terms of dollars and sense. An appraisal might cost you $250. If that doesn't work and they deny your DV, you have to hire an attorney.
|
|
|
you had one more question, (altho shifty's answer was great) if the car is totalled, there is no diminshed value compensation...some folks do not realize that, so I thought I would throw it in... also, in GA, I think they automatically include DV if the car is fixed and there IS DV...remember, if a fender was scraped and all it needed was new paint, the car has not really lost any value...if the chassis was bent or doors/frame damaged, then the car will be worth a lesser amount at trade-in...
|
|
|
Replying to: marsha7 (May 03, 2009 4:24 pm) I wish I could see the car - if it just needs a trunk and a couple of bumpers, it's not a big deal, but the impact was enough to break a seat belt, which has me leery of structural damage. I told her to make sure the doors all open and shut normally, and the panel gaps around the doors are all uniform. She mentioned the misaligned hood a few times, I could tell that was bugging her. |
|
|
Replying to: Mr_Shiftright (May 03, 2009 3:30 pm) This insurance company is also going to be paying some medical claims on top of the damaged car...so they won't be happy if the loss of resale value is mentioned I'm sure. It's her mess, I told her if she gets kickback to just refer it to her insurance agent. Looks like I might get to go car shopping this coming weekend...or see a disabled car in a body shop. |
|
|
Hi, My insurance company has decided to total my car (99 Camry LE) after a curb-hit accident. They have given me their repair estimate and the actual cash value details. But they are not willing to give me a written report with the business reason of their decision to total the car. From their repair estimate and the current value of the car, the repairs are close to 69% of the car's value. They told me over the phone that they do not think it is worth repairing the car at this repair estimate. Is there any reason for not documenting their conclusion in black and white? Is it OK for me to insist on a written document in this regard? Thanks in advance for your time, VeKi
|
|
|
|
|
Replying to: veki (May 31, 2009 9:23 pm) If you don't want the car totaled, then you'll have to get your own appraisal regarding Fair Market Value of the car (not the damage, but the VALUE just before the accident). If you get a higher value from that appraiser, then the percentage calculations for totalling (it varies from company to company, although in some states it's required to total at a certain % of damage vs. valle) changes. The problem is, of course, getting them to accept your appraiser's estimate vs. theirs. Of course your appraiser might agree with them, that's always a risk. You may want to read over your policy and see what it says about this. You can also contact your State Insurance Commission.
|
|
|
Replying to: Mr_Shiftright (Jun 01, 2009 6:11 am) Thanks for taking the time to reply to my query. Appreciate it much. I did some research myself on a replacement car of the same make, model, features and I found that I will be paying some extra money from my pocket apart from the settlement that I will get from my insurance. I too share your concerns w.r.t hiring an appraiser. I called the state insurance commission and they too opined that the insurance company can put their decision in writing. They also mentioned that I could open a complaint online for them to review this further.... I will talk to the manager once and see where it takes.... In the current environment, I don't have the time or energy to drag this further with the insurance company. Thanks again, Veki
|
|
|
|
|
Replying to: veki (Jun 01, 2009 7:21 am) |
|
|
Replying to: Mr_Shiftright (Jun 01, 2009 8:18 am) You are right. At this moment, I have too many other things happening and am finding this to be draining me already. Thanks for offering to review the details. Here is my car information. I have copied most of it from their list. 1999 Toyota Camry LE, 4 Cyl, 4 Door sedan with 113042 miles, I am the only owner. Automatic Transmission AT Standard Overdrive OD Standard Power Steering PS Standard Power Brakes PB Standard Power Windows PW Standard Power Locks PL Standard Power Mirrors PM Standard Air Conditioning AC Standard Rear Defogger RD Standard Intermittent Wipers IW Standard Tilt Wheel TW Standard Cruise Control CC Standard Keyless Entry KE Console/Storage CN Standard Console armrest Seating Cloth Seats CS Standard Bucket Seats BS Standard Radio AM Radio AM Standard FM Radio FM Standard Stereo ST Standard Cassette CA Standard CD Player CD Wheels Full Wheel Covers FC Standard Safety/Brakes Drivers Side Air Bag AG Standard Passenger Air Bag RG Standard Alarm TD Anti-Lock Brakes (4) ABS 4-Wheel Disc Brakes DB Reported Exterior/Paint/Glass Clearcoat Paint IP Metallic Paint MP Body Side Moldings BN Standard Dual Mirrors DM Standard Interior is good, minor paint spots in the exterior. Insurance esimtates total adjustments for such as $52. Cash value offered for the car 5400 Tax 324 + title 60 Final settlement amount : $5784.00 Let me know if you need any additional details. Thanks again, VeKi
|
|
|
|
|
Replying to: veki (Jun 01, 2009 8:48 am) |
|
You are here:
Forums
Smart Shopper Questions About Auto Insurance & Accidents
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
Browse by Board
Browse by Topic
Today's Chats
