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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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Replying to: fondue (Nov 21, 2005 6:36 am) 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.
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Replying to: Mr_Shiftright (Nov 21, 2005 12:40 pm) 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.
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Replying to: fondue (Nov 28, 2005 12:51 pm)
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Replying to: Mr_Shiftright (Nov 28, 2005 1:05 pm)
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Replying to: fondue (Nov 28, 2005 1:14 pm)
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Replying to: Mr_Shiftright (Nov 28, 2005 4:07 pm)
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Replying to: fondue (Nov 29, 2005 4:16 am) If the OTHER driver was at fault, then the OTHER driver's insurance company should provide you with (1) EITHER (A) [If your car can be repaired] The gross diminution in value (which consists of the repair cost PLUS the "residual diminution") or (B) [If your car is totalled] The fair market value of your car at the time of the accident. AND (2) The value of loss of use of your car. In the real world, loss of use is usually dealt with thru rental cars. In the repair case, a typical rental length would be the time for repair. In a replacement case, rental length depends on how long it's "reasonable" for you not to acquire a new car. If you can't afford a new car without the insurance company's settlement check, then they should be paying for your rental til they cut it.
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Replying to: jrynn (Dec 03, 2005 10:31 am) As for rental cars, I agree they "should" provide you with one, but what I'm saying is that I don't believe there is any law compelling them to do so because they have no contract with you.
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Replying to: Mr_Shiftright (Dec 05, 2005 9:47 am) Diminuation of Value Rental Cost while being repaired Sales Tax if your vehicle is totaled, yet if repaired, they do pay sales tax. It is up to the Claimant to "prove" his loss and document all of his proof. Insurance companies do NOT operate like FEMA in a hurricane. 
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Replying to: euphonium (Dec 06, 2005 10:04 am) On rental cars, you never know...some are sympathetic (up to a point), some adversarial...sometimes I have even heard that they'll bribe you by asking you to settle your claim with them quickly regarding medical liability....just sign here and we'll get you that rental car... People have to keep in mind that insurance companies just run by the system...they don't care if you win a few and they don't care if they lose a few, as long as the numbers come out in the black in that Big Balance Sheet in the Sky.
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