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Smart Shopper Questions About Auto Insurance & Accidents
4422 messages, Last post on Dec 04, 2009 at 6:46 PM
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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. |
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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
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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.
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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
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Replying to: veki (Jun 01, 2009 7:21 am) |
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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
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Replying to: veki (Jun 01, 2009 8:48 am) |
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Replying to: veki (Jun 01, 2009 8:48 am) I ran the Used Car Appraiser with the information you provided and it appears the insurance company is giving you a good deal. In looking at the listings from the dealers, the prices are higher but remember that is only the list price not the actual selling price. I would do a search on 1999 Camry for sale in your area. Print these out and try to get your insurance company to come up a bit.
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Replying to: dtownfb (Jun 01, 2009 9:10 am) Thanks for helping me out on this one with your constructive feedback. Appreciate your time. I checked the link you provided and agree with your assessment. I will close this without any further ado/dragging. Thanks again, VeKi |
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Hello. I'm moving to florida. My company is sending me to work there and i'm gonna be for about 3 years. I'm moving with my wife. We both have our driver licences issued in our country. We are planning to get our florida driver licence but is going to take about a month for us to settle and you can't live in Miami Metro Area without a car. Is there any company that will give us insurance? My company is giving me a car, so i think they will take care of my insurance. But i'm gonna buy a car for my wife, and i like to know if it's possible to have an auto insurance for her. No matter how much is gonna cost, we are going to have our florida driver license in one or two months. Thanks.
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