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Smart Shopper Replacement Cost by Insurance Company for Totaled Vehicle
196 messages, Last post on Nov 17, 2009 at 7:17 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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I recently was involved in an accident which totaled my newly purchased truck. It was a 1993 Ford f150 xlt with 150,000 miles. It didn't have a scratch on it. It had a rebuilt motor and tranny in it. It also had a camper shell, aluminum wheels, chrome bumpers, custom grille , brand new chrome exhaust, etc. Beautiful truck. I paid 4500 for the truck, other driver was at fault, no insurance. I've been offered 3180 for the truck from my company. High wholesale blue book is 3180, private is 4450 & retail is 5700. I stand to lose $2000 including my deductable. I can't come close to replacing it in my area with the settlement. Truck buyback is 650. I'm not a mechanic and won't be able to part it out. How can I recoup any losses, or am I stuck?
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Replying to: northman22 (Dec 23, 2006 2:13 pm) Insurance companies try to pay as little as possible, and you need to negotiate. If you have a friend who is a lawyer and who can be aggressive (insurance adjusters are not a group to play nice with), you may want to use him/her as leverage. Don't accept the first offer (or possibly the second or beyond), and don't compromise on your value. Unfortunately, if you want the maximum, you'll have to be prepared to dig in and do battle. |
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Replying to: northman22 (Dec 23, 2006 2:13 pm) |
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Hi My name is Natalia and last week I was hit from behind while making a left turn on a busy street. The driver hit me from behind at 60km/h because he was reading a map. The police charged him with careless driving on the spot. I have not spoken to the appraiser yet to find out whether or not my car is a write-off. Frankly my car is 2 months old and I don't want a re-built car. Any suggestions to sway my insurance (President's Choice - part of Aviva Traders) to give me a new car and not fix this one. I don't want to be paying for a brand new car and driving a rebuilt. If you could please offer me some advice or suggestions to say to the insurance company that would be great.
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Replying to: nataliak (Dec 26, 2006 3:20 pm) 2. The other driver's insurance is responsible for paying, not yours, if he is at fault. 3. Read the few posts just before yours for advice on getting the purchase price + tax if your car is totalled.
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Replying to: kirstie_h (Dec 27, 2006 7:56 am) Unless you have the misfortune of residing in a no-fault state. However, it seems like the OP is from Canada. They have a modified no-fault system which does assign fault, and the at-fault driver's insurance would probably be on the hook for the payment. EDIT: I'm wrong (at least with respect to NY state). No-fault only applies to personal injury and liability. If a driver is found to be at fault, then his insurance company is responsible for damage to other drivers' cars (assuming he has insurance). |
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Replying to: smittynyc (Dec 27, 2006 8:24 am)
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Replying to: kirstie_h (Dec 27, 2006 9:31 am) All the help is greatly appreciated. Natalia
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Replying to: nataliak (Dec 27, 2006 2:01 pm) To the extent that you can, try to get as many new OEM parts as possible (as opposed to used junkyard parts and lookalike parts that were not used by the manufacturer of your car.) Make sure that the cost is not being lowballed in order to get you to accept a repair job when a total might be more appropriate. If the car has extensive frame damage (and with that kind of repair bill, it just might), that might provide another basis for fighting for a total. Hopefully, some Canadian posters will see this, as laws vary between the US and Canada, and I presume from province to province. And again, if you succeed in getting the car totalled, be sure that your settlement on a total includes tax (GST and PST), registration fees, etc., and that the value is based upon the car's retail value. (Kelley Blue Book is a US publication, so you will want to use the Canadian equivalent.) |
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Replying to: nataliak (Dec 27, 2006 2:01 pm) What you need to fight for is its diminished value as a result of having been in a severe collision. Regardless of how well it is repaired, a trained eye will be able to detect that it has been fixed. |
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Smart Shopper Replacement Cost by Insurance Company for Totaled Vehicle
