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Replacement Cost by Insurance Company for Totaled Vehicle

196 messages,  Last post on Nov 17, 2009 at 7:17 PM

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#106 of 196 I meant Car!! by klunkyb Nov 15, 2006 (9:17 am)
#107 of 196 Re: Cat Totaled and found out that it was already a salvaged car [klunkyb] by cccompson Nov 16, 2006 (3:00 pm)
Replying to: klunkyb (Nov 15, 2006 7:47 am) The insurance company is obligated to pay you what the car is worth. If it has a branded (i.e., salvage) title, it is worth considerably less than "blue book" (which itself is pretty meaningless) or a comparable vehicle with a clear title. I don't understand how you could not know that is was a salvage vehicle.   It would help if you could provide further details about the vehicles so we could offer a better idea of what it was worth prior to the collision. Replies to this message: klunkyb (Nov 29, 2006 9:00 am) cccompson (Nov 29, 2006 5:50 pm) klunkyb (Dec 06, 2006 8:52 am)
#108 of 196 Totaled Truck by jat5600 Nov 17, 2006 (2:05 am)
I have a 1998 Ford Ranger and last night I was in a car/deer accident. I hit him at highway speed and had both airbags deploy. The insurance company has already told me that the truck will be totaled because the of the air bags going off. The truck is a one owner, clear title and the truck was in good shape, (no rust, or major dents, paint was clean) It has high miles (103000). I was wondering what figure they would use to pay me. The trade in value is not very high, but retail is at minimum 3000, both KBB and NADA are in that area, Edmunds ran a little higher at 4000. When saying fair market value is that trade in value or replacement value? Replies to this message: cccompson (Nov 17, 2006 4:46 pm) sandpmove (Dec 06, 2006 12:32 pm)
#109 of 196 Re: Totaled Truck [jat5600] by cccompson Nov 17, 2006 (4:46 pm)
Replying to: jat5600 (Nov 17, 2006 2:05 am) It's replacement value. Don't forget to get money to cover tax and title as well.   Truck values vary WIDELY depending on optional equipment.
#110 of 196 Re:Car Totaled and found out that it was already a salvaged car [cccompson] by klunkyb Nov 29, 2006 (9:00 am)
Replying to: cccompson (Nov 16, 2006 3:00 pm) The car doesn't have a salvaged title and my insurance company is the one how totaled the car in 2001 and I bought it in 2002. They also told me that they are not allowed to give Full coverage on a salvaged car and that is what I have had since June of 02. I wasn't told by the owner that it had even been in a wreak and he may not of even know since his title wasn't a salvaged title, someone along the line didn't get a salvaged title for this car. I talked to my insurance and they told me to seek legal advice. Replies to this message: cccompson (Nov 29, 2006 5:50 pm) klunkyb (Dec 06, 2006 8:52 am)
#111 of 196 Re:Car Totaled and found out that it was already a salvaged car [klunkyb] by cccompson Nov 29, 2006 (5:50 pm)
Replying to: klunkyb (Nov 29, 2006 9:00 am) The problem is that the amount at issue here ($1500 or whatever it is) may not make it economically feasible to hire a lawyer.   My inclination would be to take a hard line with the insurance company on this. They are claiming that they alone have particular information that lessens the value of the vehicle. Even if it's true that they paid out a loss years ago, I have a hard time seeing the sort of dimunition in value they are now talking about. A $6000 vehicle simply doesn't take a big hit in value due to prior repairs (absent a salvage title). True, there should be some reduction but not much. Replies to this message: klunkyb (Dec 06, 2006 8:52 am)
#112 of 196 Re:Car Totaled and found out that it was already a salvaged car [cccompson] by klunkyb Dec 06, 2006 (8:52 am)
Replying to: cccompson (Nov 29, 2006 5:50 pm) I just talked to someone at the Department of revenue motor vehicel department and they told me that my car did have a salvage title in 01 and then it was given a clear/clean title also in 01 when a company bought it. And that until 2004 you could get a clean title on cars that were totaled and then rebuilt. Is this really true?? I find this hard to believe and I am not sure the girl I talked to really knew. I called the GA insurance commisioner about this and they gave me the number of the place I already talkd to. Any help??
#113 of 196 2005 Toyota Corolla LE Totalled - Advice Requested. by sandpmove Dec 06, 2006 (10:28 am)
Hi, My car was in a bad accident and the car is being totalled. The car is a 2005 Toyota Corolla LE with ABS, 5 CD changer, and cruise control with 19,000 miles on it. Prior to the crash the car was in very good condition. Edmunds.com or Kbb.com give the trade-in value of the vehicle to be about 12,000$. The car was financed by toyota financial and the pay off balance is 11804$ as of today. My insurance company is Geico and the fault in the accident is mine. I have the following questions and I would really appreciate advise here: 1) What value should I expect from Geico? Is it the same as I see in Kbb.com? 2) What I owe toyota financial will then be the pay off balance minus the amount geico claims is the fair market value of the car. Correct? 3) Will they pay for title change, sales tax when car was bought etc? 4) Please share with me any pointers to make sure that I get a good deal from Geico - anything I can do to improve my chances here. Thanks very much! Replies to this message: derek533 (Dec 13, 2006 8:30 pm) kbt (Dec 18, 2006 1:01 pm) derek533 (Dec 18, 2006 2:01 pm) cccompson (Dec 18, 2006 3:52 pm) and 2 more...
#114 of 196 Re: Totaled Truck [jat5600] by sandpmove Dec 06, 2006 (12:32 pm)
Replying to: jat5600 (Nov 17, 2006 2:05 am) How do I find out what is the replacement value of the car? Is it the trade-in value (lowest of 3 i.e. fair condition) as per KBB.com?
#115 of 196 TOTALED FORD CONTOUR IN OHIO by sammylynn26 Dec 06, 2006 (3:03 pm)
Hi, I need some advice. I saved for months to buy a car, it wasn't much, but it was a 95 Ford Contour, had 105,000 miles on it and was in good condition. That was a month ago. Last week, my car was parked in front of my house, and a 16 yr. old boy with his license for only two weeks was running late going 50 miles an hour in a 35 mph residential neighborhood, dropped his cell phone and in the process of looking for it, crashed into my car. Their insurance company (Grange Insurance) deemed my car a total loss. I paid 1,300 dollars for the car, the Blue Book Value is two thousand, but because of a few things such as a crack in the bumper and some rust on the roof, their offer is 800 dollars. I've talked to my insurance company (Progressive) and they're no help. Progressive says there is nothing that I can do, and the people at Grange are not very nice. I assume I have to take the 800 dollars, but it just doesn't seem fair. I missed two days of work because I didn't have a way to get there, they said they would give me ten dollars a day for those two days. Any advice? Thank you.

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