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Replacement Cost by Insurance Company for Totaled Vehicle

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  • Kirstie_HKirstie_H Posts: 10,846
    Thanks - makes sense.

    Yes, I know the limitations of my rental policy (daily amount & dollar amount). I was just wondering if it's reasonable to expect that they'd reimburse me based on the amount of coverage listed on my policy even IF I don't use their preferred company.

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  • I was in a collision with my '01 Accord. No injuries to anyone. The visible damage is to the front bumper, front right corner panel, right headlight/parking light, and front right rim. The passenger side airbag deployed. There also appears to be damage in the engine compartment, possibly to the intake (?) but the car started after the collision and I was able to drive it out of the street. After speaking with the insurance adjuster (who had not seen the car) on the phone, I was told this is a total loss. It has 115,000 miles on it, so I know there was life left in it. Until the accident, there were only minor cosmetic issues on the car (a few scratches to the paint). I have been diligent with all recommended maintenance. I have never been in an accident before, so I do not know whether or not total loss is common. I have been told by some friends that the airbag deploying is probably why the insurance company wants to total the car. Any thoughts and comments are appreciated. Thanks!
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,323
    You've listed the obvious damage, but the adjuster is aware of potential hidden damage. Look at it this way, If you wouldn't buy such a car after being crashed like yours, why would you want to keep it? It's good that it's totaled.
  • kyfdxkyfdx Posts: 27,992
    It's a 10 year old car with 115K miles... What's that worth? $5000..

    Once the repairs get to the 70% of value range...they usually total it.. Replacing an airbag is very, very expensive... My $14000 car was totaled with not much more damage than you have.... but, both front airbags blew....that's what put it over the top...

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  • explorerx4explorerx4 Central CTPosts: 9,618
    What did the insurance company offer for the car?
    It was not just a fender bender if the right front air bag deployed.
    Hopefully your passenger is ok.
  • No offer yet. Thankfully I did not have a passenger with me.
  • Thanks, that does make sense. Any recommendations on how to negotiate with the adjuster? I have been checking the local listings to get a documented record of sale prices on similar cars. Is there much else I can do? I expect them to make the offer tomorrow. Thanks again!
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,323
    local listings to get a documented record of sale prices on similar cars
    Keep in mind the sale price of a vehicle is the most they can charge for it. Most vehicles are sold for less than the asking price.

    Suggest you go to the top of the screen & click on USED CARS which will eventually lead you to "Appraise my car". Give that an exercise for True Market Value.
  • crv123crv123 Posts: 31
    Hi All --

    We were rear-ended last week and our 2006 CRV was totaled. We weren't moving and the driver who hit us was determined to be 100% at fault. I am now in the process of negotiating the total value of my car with my insurance company. They will subrogate with hers later. I've read through much of this forum and thanks for all of the information. I am in the process of pulling together alternate calculations and supporting detail to submit to the insurance company. Here are my questions:

    1. We added many options/accessories to the vehicle when we purchased it. I've already obtained a list of the items from the dealer and had the dealer give me approximate costs. Does anyone have advice on how to assign value to these items? The only item that was listed in the insurance company comp detail from JD Powers were my fog lights. They assigned them a value of approximately 30% of what I paid? Would it seem reasonable to suggest the same rate apply to the other items? FYI...We had added $3800 of accessories which included fog lights, back-up sensors, running boards and others so the current valuing of these items could be significant given the value of the comparable CRVs that don't have them. (Note: I have looked at the comps on autotrader.com and can see from looking at them that the majority don't have fog lights, back-up sensors or running boards. I can't tell about most of the other accessories).

    2. Assuming we buy another 2006 CRV as the replacement vehicle regardless of whether or not I add the same long list of options/accessories to the replacement, I am going to need to add fog lights and back-up sensors as I see those as safety features. Would it be reasonable to argue for replacement cost as the cash value of those items? That would certainly increase the amount that I might list in the alternate calculations I am doing.

    3. We also had a 120,000 mile extended warranty. The car was totaled at 75k miles so there is a fair bit of value left. I would like to add the pro rata value of the remaining coverage into my alternate calculation as it is part of my loss.

    4. We have always had our service done at the Honda dealer. Does that in any way increase the value of our car for this purpose? I know it would have been a selling and/or trade-in value point, but I'm wondering if there is some value to attribute here...and if so, how would I value it?

    I think those are all of my questions at the moment. Thanks very much in advance for any help/guidance you can share.
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,323
    After 6 years, your personal add ons may be worth $500 total. You're grasping. As for the balance of the extended warranty, it is an insurance contract and you should cancel it immediately and receive the return premium.

    Having the dealer pamper your car does not add value & why should it.

    Had you claimed against the at fault driver's company, you would be in a position to accept up to $10,000 for signing a non injury statement. So, why are you claiming on your policy? :confuse:
  • vmm39vmm39 Posts: 2
    I had an accident in last week; the truck hit my Van from behind while kids were crossing the road in school zone , fortunately nothing happened to kids but my van was seriously damage. I have Kia Sedona van year 2003 which has 36500 miles on it and I am in California state. The Insurance Company decided to totaled van and offered a compensation. The vehicles (3 vans , two 2003 year and one 2004 model) used for comparison are with high mileages. The mileage adjustment amount shown in the statement are in the range of 0.018 - 0.021 /mile. Is there any guiding for mileage adjustment amount? How much they are supposed to pay per mile? The mileage adjustment shown for 53000 miles is $1035, 20000miles = $378 and 13000 miles = $270. One van used for comparison is 2004 instead of 2003 but year adjustment amount deducted is $1275. Can someone guide me, Thanks in adv.
  • vmm39vmm39 Posts: 2
    I had an accident in last week; the truck hit my Van from behind while kids were crossing the road in school zone , fortunately nothing happened to kids but my van was seriously damage. I have Kia Sedona van year 2003 which has 36500 miles on it and I am in California state. The Insurance Company decided to totaled van and offered a compensation. The vehicles (3 vans , two 2003 year and one 2004 model) used for comparison are with high mileages. The mileage adjustment amount shown in the statement are in the range of 0.018 - 0.021 /mile. Is there any guiding for mileage adjustment amount? How much they are supposed to pay per mile? The mileage adjustment shown for 53000 miles is $1035, 20000miles = $378 and 13000 miles = $270. One van used for comparison is 2004 instead of 2003 but year adjustment amount deducted is $1275. Can someone guide me, Thanks in adv.
  • Hi all, I'm hoping I might be able to get a little more advice on here. My 97 Honda Accord SE was in an accident last week which was the other drivers fault. While going around a corner, the driver got scared, hit the gas, and crashed into a big dumpster, pushing it 4-5 feet, hitting my PARKED car on the drivers side, and pushing it 2-3 feet. I haven't driven the car in about a month due to neck surgery I had at the beginning of the month. In the accident the drivers side front panel, and door were dented (door only opens about a foot, and drops down immediately) and the passenger side tires were deflated (they were full before the accident). I expected the battery was dead, and when the tow truck driver got here, he charged the battery, and filled the tires to drive onto the flatbed. I noticed when he drove it up, the car didn't sound the same as it did 4 weeks ago.

    I received a call from the adjustor in the afternoon, and he told me the only damage was to the front panel, and drivers door, nothing else could be wrong, and he was quoting $1200. I immediately asked questions about the suspension, alignment, etc, to which he said that couldn't of happened as it was a side impact, and not a front end collision. My mom just 2 months ago was in a side impact collision, and her car was totaled, so I knew this was BS. And for him to state nothing else could of happened is absurd, as the car was pushed sideways, an unnatural movement, 2 feet. I told him I would not accept this, and would get back in touch.

    I immediately called the Honda dealer, and they said they thought more damage was done, but couldn't do anything unless I got a new battery, which I told them to go ahead and do at my cost. Just talking about the impact, Honda stated I at least would need 2 new tires, if not 4, and an alignment, which at cheapest would be $300 for 2 new tires and alignment (adjustor said only the panels could be damaged, YEA RIGHT!). I then called the auto body shop and told them the ordeal, and when I brought up how the door falls down when opening, he said the frame could of been bent (which the adjustor told me a) this car doesn't have a frame, it has a unibody (which is the same thing in a way), and b) that it might just need new hinges). The auto body shop was shocked, as they are the first to admit, they don't know how much damage there is until disassemble.

    I let both Honda and the body shop know, my fear was that the car is a 97, 15 years old, and I knew it wouldn't take much to get up to a price where the insurance would just total the car, and I don't want anyone to waste their time on the car if that was the case. I kept trying to pry the adjustor to tell me what if more damage came then $1200, and he made it seem like I'd be on my own. I'm glad I didn't accept his claim, and will be hearing back from Honda and the Body shop on Tuesday for their estimates, then will be getting in touch with his boss.

    Does anyone have any suggestions on how I should deal with this. I feel as if it's completely absurd that I'm having to fight this hard, when I did nothing wrong at all. I've never been in a car accident (knock on wood), yet my car now has...any advice would be appreciated.
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,323
    What is the advice of your insurance agent? Your car should be totaled. Get as much as you can & settle soon.
  • jess11170jess11170 Posts: 1
    edited May 2012
    May 4th I hit a deer in my new 2011 Toyota 4Runner. I purchased the car end of Feb 2012 and drove it just about two months. Only had 1968 miles and there were no flaws in or on the truck (until I hit the deer). The air bags did not deploy. May 11th the insurance company called me to tell me it was totaled. I don't understand how there could be 25-30K worth of damage. I talked with the collision center manager and he didn't think that the frame was damaged. Not sure what to do. Does anyone have an idea about the type of hidden damage that would lead to a "total loss" decision by the insurance company.
  • sanjaysdcasanjaysdca Posts: 269
    Try to negotiate and see if you can buy the car
    However be aware that in some states it may be difficult to insure salvage title.

    Also decision to total the car is based of the value of car plus overhead (car rental + fees) + how much can an insurance company get if you they part the car out.

    Last two can be as high as 40% (this number is insurance co. dependent).
    So if to fix the car > 60% of the value = Total the car.
    IF your 4runner is valued at 25K ~ 30K
    and if cost of fixing is >60% = 15K ~ 18K they may decide to total the car.
    You may want to negotiate with the body shop to keep the cost below the "TOTAL VALUE"...They may be willing because bodyshop will not get any business if car gets totalled...unless body shop is in used parts business.

    So choose your bodyshop carefully.
  • kyfdxkyfdx Posts: 27,992
    Unless you are taking some sort of large financial loss on this deal, you should be glad they are declaring a total loss..

    Who wants an almost new car with $10K of body work?

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  • mlamela21mlamela21 Posts: 1
    Recently, my 6 month-old Jeep Grand Cherokee was rear-ended by a drunk driver while it was parked on the street. The Jeep was a lease, however I had the intentions of purchasing, as I used my previous vehicle as a downpayment for 7k. The car had a payoff balance of approximately 26k at the time of accident and an MSRP of about 35k.

    While the front part of the Jeep appears untouched, the entire rear axel of the truck was broken and one of my tires was completely detached. There is significant damage to the back side and underneath the truck. Everyone who had seen the truck had told me it was beyond repairs and that I should insist on a new vehicle, as I would no longer want this one.

    The driver who had hit the truck only had 25k worth of insurance to cover the damages to my car, another car and a fence which he had struck. For this reason, I had to go through my own insurance company, and after sending an assessor to look at my vehicle, they are telling me they can have it repaired.

    Has anyone ever been involved in a similar situation? How was it handled? I really would like to insist on the vehicle being replaced by my insurance company, instead of being repaired, as I feel it would no longer be the same. Once the insurance company begins repairs, I'm afraid I'll be stuck with this vehicle which I do not want. Can anyone offer any advice?
  • blueiedgodblueiedgod Posts: 2,803
    Sorry to hear about your Jeep. It sounds like a pretty severe damage to the vehicle. Luckily, no one was in it, and no one was injured.

    Unfortunately, you have no say in this matter. Insurance companies have guidelines that they follow. And if the max threshhold is not reached, they will not total the vehicle.

    Another consideration is that if they total the vehicle, depending on the type of policy you have, they may simply pay off the amount owed, and leave you with nothing. This is number 1 reason not to put large sums of money as a downpayment on a leased vehicle. Once it is totaled, you may get nothing.

    If I were you, I would read the insurance coverage documents that they sent you in the mail when you signed up and read them very carefully. If you have the type of policy that only covers the amount owed on the vehicle, then you are SOL, since you will be without a car, and your $7,000 downpayment is down the drain.

    If you do indeed have that type of coverage, it is in your best interest to have the vehicle repaired, drive it out the duration of the lease, and then simply walk away from it. And start saving money for a downpayment on the next vehicle now, since you will have nothing at the end of the lease.
  • I had an old 77 Chevy 1/2 ton pick up that got sandwiched between a 90s Jeep Wrangler and the metal divider on the freeway. It was totally the other guys fault, because he changed lanes right into me and the tire marks of his rear wheel was clearly halfway on my doors.
    Anyways, although the value was maybe $1000, I had many new parts, new carpet, and modified it to mount BMW Z3 leather seats. The damage I had was two dented in front fenders, bend front bumper, broken front lights, and a dented door. The adjuster cut me a check for $3500 and I got to keep my truck (not totaled).
    It cost me maybe a couple hundred in parts both new and some from the wrecking yard.
    So for now on I'm looking for the next idiot that is too preoccupied with their cell phone to look in a mirror to change lanes, screw up their insurance rating and throw me a few extra bucks. LoL
  • daytoncarcaredaytoncarcare Posts: 2
    edited July 2012
    ...and you don't have to go through the insurance agent or adjuster of the person that damaged your car. You should talk to your own agent to get the best numbers.
    These "adjusters" are not your friend. They work for the insurance company and they want to save them money, or they may be out of a job. For example; if your car is worth $20k, they'll probably offer you $15.5k. Which you may see as more than fair. Your happy and the rep is happy for saving money for their employers.
    Case in point (2000 BMW 528i): I recently had a friend that had someone run into his car, and they deemed it a total loss. The first rep offered about $9k, but then he went to his agent and got $800 more. Needless to say we found a replacement BMW a year newer (2001 530i), lower mileage, and very good condition. He's even happier with the colors vs his previous car. :)
  • euphoniumeuphonium Great Northwest, West of the Cascades.Posts: 3,323
    $3500 is cheap for the company getting a Release & settlement that includes potential bodily injury. ;)
  • In January I signaled a left-hand turn at an intersection and was in the process of making the turn when a driver tried to pass me on the left. He admitted driving 57-58mph (over limit) and that he had seen my signal. He was cited for unsafe pass and has pleaded guilty and paid the fine. His insurer accepted 100% liability. Body shop repair estimate is $4659. My vehicle is a 2000 Chrysler Town & Country LX (long wheel base, E85 flex-fuel, wonderful condition) -- but with 229K miles on it. I had just gotten two new tires ($200+) had a complete tuneup/plugs/oc etc ($200+). We had purchased it with 39,959 miles on it and a prior salvage title and maintained it religiously, loved the vehicle, had every intention to continue driving it. Great, dependable vehicle. So of course his company is offering $1600 (deducting $847.23 for the "title history") -- based on a JD Powers Valuation report with "comparable" vehicles from 113 to 298 miles away from me. I have attempted to negotiate -- I showed them three other comparable flex-fuel T&Cs (years 2000-2003) within 100 miles of me, lower mileage but priced up to $6995 and proposed $3494 to his insurer. They refuse to budge from $1600. In my state (Iowa) the small claims limit is $5000. I am thinking of filing a small claims action against the other driver asking that he either repair or replace my vehicle. His insurer company will have a duty to defend him. I do not think that I will have trouble proving liability. Can I come out worse than the $1600? Any suggestions, ideas for negotiation -- anything? Thanks for any help--this has been very upsetting--driving along, minding my own business in a vehicle that I loved, and feel like I'm getting taken to the cleaners. Familiar story, I know.
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