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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
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Replying to: ksage (Sep 09, 2009 9:13 am) tidester, host SUVs and Smart Shopper
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Replying to: tidester (Sep 09, 2009 11:02 am) If you are really attached to the truck you might want to talk to them about buying the salvage. It should be really cheap. Keep us posted. |
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houdini is correct...you might want to try and buy the salvage after they total it...a 1991 Ford truck would probably be worth very little, despite the low mileage on the odo...insurance pays what the vehicle is worth, and, sadly, yours has no current value to speak of...it has value to YOU because I assume it is paid off, runs like a top, and has years of use left with only 68K miles, but tha actual value on the open market is near boat anchor material (sorry)...sentimental value is simply not a considered item... Further, I would be surprised if a court would award you the amount to fix it, when the vehicle would be totalled, but for the $50 filing fee, it can't hurt to try... That is the one thing about auto accidents where one is never fairly compensated...you pay off a vehicle, it depreciates like a rock, and what they pay you when it is totalled never comes close to replacing the vehicle that you took meticulous care of... I don't know your state of residence, but $10K PD is quite low...GA was at $10K until about 5-7 years ago, when they raised the minimums to 25K/50K/25K...when you consider that most cars under two years old can cost over $20K even with depreciation, having a $10K limit meant that the at-fault driver could easily come up short with insuff insurance coverage... |
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| Just looked up 1991 Ford Custom, guessed at small V8, auto trans, 68K miles, good cond...$1,200.00 trade-in value, fair cond, $925.00 trade-in...retail obviously a little more, but probably not much...if it gets under 12-15 mpg, may be worth even less...good luck with the insurance... | |
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Replying to: ksage (Sep 09, 2009 9:13 am) If you don't like what the insurance company offers you, you can hire your own appraiser. If your appraiser comes in higher, and the insurance company STILL doesn't up their offer to the other's appraiser's value, you do NOT have to accept the arbitration in this case because this is a 3rd party claim (her insurance company). If it was your insurance company, no doubt you already agreed to binding arbitration when you signed the contract. But you made no such agreement with HER company. If I were you I'd hire an appraiser, and try to get at least enough to fix the truck up, even under a salvage title. You won't get "a new paint job" because not all of your truck was wrecked. They'll only pay for the damage, not to paint the whole vehicle. Welcome to insurance regulations written by the insurance industry. PS: It'll cost you about $500 if you invoke the arbitration/appraiser clause, but you usually get at least that back in an arbitration, and hopefully a good deal more. |
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anybody got any idea what the current going/customary rate is for GAP insurance on a new vehicle (less than 1K mi)?
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Replying to: wdhyte (Sep 12, 2009 8:15 pm) tidester, host SUVs and Smart Shopper
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Replying to: tidester (Sep 12, 2009 10:53 pm)  thanks a lot tidester |
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i have a 99 pontiac grandam 4cyl. recently i was parked at a fairground during a family reunion someone or something broke my side mirror and casing off i contacted my insurance company and they said i could file a claim and i would not have to pay a deductible,, i called the 1 800# and the lady said i may have to pay a250.00 deductible depend on what the insurance adjuster say if it comprehensive or collision my question to you is can i back out of the claim if there is a deductible without being penalized? the adjuster will be here about september 23 2009 how do they determine if it is collission or comprehensive? thanks
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While the definition to us may be fuzzy, I would guess that collision would apply if another car drove by and struck your car, knocking off the mirror, whereas if it was vandalism, that would probably come under comprehensive...I have the same deductible for each, so if it was my car, it would not matter how they processed it... If it is simply installing a new mirror, consider paying cash if it is under $400.00...if the body is damaged along with the mirror, then cost may jump and a claim would be warranted... |
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