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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

What is this discussion about? Car Safety, Buying Insurance, Coupe, Convertible, Hatchback, Truck, Sedan, Wagon, SUV, Van


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#58 of 196
PS TO TOTALLED WHAT CAN I DO by abma75
Oct 12, 2005 (5:53 am)
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MY INSURANCE COMPANY SHOULD BE HELPFUL IN THIS SITUATION SHOULDN'T IT? WHAT HELP SHOULD I EXPECT FROM THEM IF ANY? DO YOU HAVE THE WEB SITE ADDRESS FOR THE NORTH CAROLINA INSURANCE COMMISSION SO I CAN ASK QUESTIONS OF THEM. THANK TOU.
#59 of 196
engine coverage by insurance by unique_name
Oct 19, 2005 (4:58 pm)
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i have a 2002 neon 85k miles. ingested water after going thru puddle. motor is locked, can't crank it with a breaker bar even with the plugs out. without knowing what is wrong an aig adjuster looks at it and says they will pay for a replacement engine from the junkyard. he states they are replacing with equal or better value. i say i have receipts showing oil changes every 3 - 5 thousand miles and tuneups on my motor, what can they produce to show the junkyard motor is of equal quality? they state it is up to my mechanic to determine the quality of the junkyard engine. is this normal?
#60 of 196
Re: engine coverage by insurance [unique_name] by Mr_Shiftright HOST
Oct 20, 2005 (8:20 am)
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Replying to: unique_name (Oct 19, 2005 4:58 pm)

This is a duplicate post and has already been addressed in the Technical Questions forum. Always try to limit a post to one forum until such time when you're sure you haven't gotten an answer back...then try another.
#61 of 196
1998 Protege--Likely Totaled by fondue
Nov 21, 2005 (6:36 am)
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A Toyota 4Runner ran into the back of our 1998 Protege. The car will likely be totaled due to the rear end damage. We no longer had collision coverage, so the other insurer will be paying for the car. The other insurance company's appraiser came when we were out and wrote that our car was in "fair" condition and had previous hood and roof damage. The "damage" in each place is a tiny ding that is not deep and didn't affect the paint (no rust on the car). In fact, the light must shine on the car at the correct angle to see the "damage." The car has always been maintained well because it is our only car. I'm not looking for a lot of $, but true FMV for a car that has been very well maintained but (admittedly) needed a wash. Any suggestions on how to proceed with the insurance company? Thanks.
#62 of 196
Re: 1998 Protege--Likely Totaled [fondue] by Mr_Shiftright HOST
Nov 21, 2005 (12:40 pm)
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Replying to: fondue (Nov 21, 2005 6:36 am)

If you don't agree with the company's appraiser you can get your own appraiser and submit that appraisal to the insurance company. Since you have no contract with the other insurance company, you can also take them to court, and probably you are also under no obligation to accept the findings of an arbitration and you can also sue them for diminution of value even if they fix your car up for you.
 
If this were your own insurance company you'd have a lot more restrictions placed on you by contract.
 
But yes, next step...if you are not satisfied with the settlement, is to hire your own appraiser.
#63 of 196
Re: 1998 Protege--Likely Totaled [Mr_Shiftright] by fondue
Nov 28, 2005 (12:51 pm)
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Replying to: Mr_Shiftright (Nov 21, 2005 12:40 pm)

Thanks for your message. I'm not exactly sure where to get an independent appraiser in a timely fashion. I contacted one around here (DC area) who said it would take several weeks to appraise it, and I don't know how to find other ones. I think I'm going to find as many classified ads within 50 miles as I can and go over my valuation (based on those ads) if the insurance company has a significantly different valuation.
 
On a related topic, typically how long does an insurance company give you on a rental car they're paying for when (1) their driver admits liability and (2) your car is totaled, thus requiring purchase of another car? (We only had one car for two working adults before the accident, so another car is a necessity.) Thanks again.
#64 of 196
Re: 1998 Protege--Likely Totaled [fondue] by Mr_Shiftright HOST
Nov 28, 2005 (1:05 pm)
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Replying to: fondue (Nov 28, 2005 12:51 pm)

The rental terms are in your policy. All policies are different in this regard.
#65 of 196
Re: 1998 Protege--Likely Totaled [Mr_Shiftright] by fondue
Nov 28, 2005 (1:14 pm)
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Replying to: Mr_Shiftright (Nov 28, 2005 1:05 pm)

Thanks, but I don't have a policy with the other driver's insurance company. I wondered if there was a ballpark figure for number of days they'll give us in a rental to look for a new car after their driver totals ours.
#66 of 196
Re: 1998 Protege--Likely Totaled [fondue] by Mr_Shiftright HOST
Nov 28, 2005 (4:07 pm)
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Replying to: fondue (Nov 28, 2005 1:14 pm)

I think you have to call them. I don't think they have to give you any rental at all if they don't want to. Your own insurance company might offer this, though, if it's part of your policy and charge it back to the other company if they can. Insurance law is very complex, so really I have no idea how this is going to come down in the end.
#67 of 196
Re: 1998 Protege--Likely Totaled [Mr_Shiftright] by fondue
Nov 29, 2005 (4:16 am)
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Replying to: Mr_Shiftright (Nov 28, 2005 4:07 pm)

Thanks again.

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