I am not surprised that the Allstate driver did not notify Allstate. Oftentimes (is that a word?) the at-fault driver is counting on your ignorance, hoping you will use your own insurance, and no claim will be made on their insurance. If they were honest and ethicalm they would have called and set up the claim, but it appears that you will have to do it.
Have a copy of the police report and spend about 30 min with Allstate setting up the claim. Also give the Allstate info to your ins so they can be reimbursed by Allstate. Mayve Allstate will total the car, I do not know.
Totalling is a term of art, not science. Each ins company determines a percentage, probably ranging from 75-80-85%, where if the damages exceed the % value of the car, then it is totalled.
So, assume a car is worth $20,000.00. Company A, at 75%, will total the vehicle when damages exceed $15,000.00. But Company B, at, say, 83%, will not total the car until damages exceed $16,600.00. The final result is that damages of $16,000.00 will be a total to Company A and repairable to Company B. There is usually NO negotiation on this. If they feel it is worth fixing, they will fix it, and you are stuck unless Georgia allows for "Diminished Value" compensation.
Initial Estimate $10,500 3 Supplementals 3,500 Rental Expense until repairs are completed = who knows?
As of this date, it would be good to know how much the body shop has spent in repairs so far. If a nominal amount compared to $14,000 plus rental expense, perhaps the At Fault Carrier, Allstate, would negotiate a settlement based on there being a "total".
The practice of body shops "low balling" the estimate just to get the wreck into their shop should have some financial ramifications on the body shop. Their inaccurate estimate of damages should not be rewarded with honoring three supplementals.
The Body Shop should swallow the expense of repair done so far. They failed to and didn't present a complete estimate. This failure "messlead" all concerned and is the root of your present problem.
Many Thanks for all your suggestions. This has been very helpful. Wish I would have known about this forum earlier. I'll be talking to Allstate to see if they can cover rest of the rental. There is no way for me to get out since my car is almost ready except for rear axle. AAA is picking up supplimental.
Recently I was in an accident with a teenage driver. He was racing 60+ mph down a 35mph 2 lane street, traveling in the wrong lane (the the opposite lane of traffic) and hit me while I was making a left turn. My car was 3 weeks old. He had insurance but my insurance is basically doing the work right now until the police report is released. My insurance is state farm. The car has extensive damage. Everyone who looks at the vehicle say it's a total loss but I am already having problems with my insurance company over the vehicle. My question is about total loss vs. repair. Because of the age of my vehicle I run a huge risk , because of it's present value ,that they will want repair the car and return it to me. I don't want it repaired. I will lose value on my initial investment and be paying more for a car that is worth much less. I will have difficulty trading in the vehicle when and if I sell it. What are my options? What rights do I have when it comes to this. What can I do about the possible loss of value? Is the other insurance company liable for my loss on this vehicle if I am force to repair it. I cannot find anything about Consumer rights in california when it comes to auto insurance. Does anyone have any info about this. I read some of the other posts about this but are these things ( salvage options, refusing to fix the car, etc.) valid in California . I really need some help with this.
Pete, I'll let others answer about "diminished value" in CA, as it varies by state. In some you are entitled to compensation, in others not.
I do not know what recourse you have with the insurance companies, if any.
One option is this: Say the decision is made to repair the car; the replacement value is thought to be $20k to pick an example, and the repair will cost $14. The ins co would rather be out $14 than $20, to be sure.
One option you have is to tell them you would rather take a check for $14 than have the work started. You also still own the wreck, which has some value, and which you are free to sell on your own.
The reason they don't want to total it is simple: If the repair is $14, that's what it'll cost, and if it's $15, than it's a grand more... but if the repair puts them over that magical threshold of 80% of value (or whatever it happens to be for that particular company), they owe you $20 plus sales tax.
As far as selling the wreck, I did that once and it was not difficult at all; I took pictures of the car and of the estimate and made a web page, then started calling salvage auctions and asked whoever answsered the phone for names of people who buy from them... in the end, I got a phone call from a guy 50 miles away who came with a truck, a tow dolly, and cash. Wrecks can have quite a bit of value, and while you're not likely to get a "good price", you'll get more money this way than if you sell it to a salvage yard for a few hundred.
If you owe money on the vehicle, you have to talk to those people, too. Short-term money to pay off the loan can make things a lot easier; a home equity loan, for instance.
The way I see it, you WILL lose money unless the car is totaled. And the ins co has no incentive to total it if they don't have to.
Say you're out $3-4k... that money had left you pocket by the time your car came to rest after the hit. The only question is how you handle the situation. Back on the road, your ar will be worth maybe 60% of what it was worth before the accident... having it fixed may well be more expensive than eating the loss now.
Oh and I almost forgot: Count your blessings. You're still alive... the car has served you well up to now.
I hate to contradict the prior post -- but I wholeheartedly disagree -- tenatively at least.
The question here is what did you buy that car for? An investement -- poor investment choice if it was as cars depreciate at a ridiculus rate. For transportation? Good choice -- now how long did you plan to own that particular vehicle? Short term or long term?
With those questions answered I make a better informed guess as to, in only my opinion, your best course of action.
Up front though -- it is not YOUR choice whether the car is totalled or not -- you have no say in that -- especially with your own insurance carrier. Also, as far as I know your policy will likely not allow any DV claim either in CA.j
Let me know what your original plans with the vehicle were when you bought it and I'll take you through how there may actually be no loss to you at all if it fixes.
It is my understanding he has the choice of repairing the car or selling the car as a wreck to a rebuilder. The amount he receives from the at fault carrier is the same amount as though it was repaired and monies paid to the body shop. Sales tax on repairs is to be included. What monies he receives from the adverse insurance carrier and the money he receives from the salvage rebuilder is all his, less any loan balance. When damaged a heck of a lot, drive it more, not.
There are so many unanswered questions here it's pretty difficult for anyone to give you a good solid answer. For instance, you said your vehicle was three weeks old -- is it a three week old SL500 or a three week old Rio? Because a 10k sheet on an SL500 might be a bumper, hood and blend, while you could probably clip/roof and repaint an entire Rio for that (not that it wouldn't total at half that.)
Also, everyone who looks at your car thinks it's a total. Is that everyone that you know? Or was it just the guy riding with you and a tow truck driver -- who likely saw a folded over wheel and assumed it was totaled.
Don't get me wrong, your car may well need extensive repairs, but that's not to say they can't be completed properly and safely. I say this because if your vehicle is three weeks old you are going to lose a good chunk of its value if it totals -- because it lost that when it came off the lot. I wouldn't give figures (SL500 or Rio) but if you paid 20k, you might get 18k ACV.
The thing is -- you still, regardless if you take the cash out or not, have no say over whether your vehicle totals or not. Say the insurance company doesn't total your car -- then likely you will not get enough money to replace it with the cash to repair and a salvage buyer. That's because you insurance company knows a little about salvage and the economics of repairing or totalling a vehicle. Their calculations will likely include a salvage bid -- and if the repair cost plus rental plus salvage and taxes exceeds the ACV (or your insurance company's pay out) then they will total the vehicle regardless. -- Point being, they're doing the math for you -- and likely with alot more experience and more accurate information.
As for DV, you haven't suffered a loss in value until you actually sell the vehicle. So, if you planned to drive the car for some time then likely that loss will be negligible at best -- and, again, your insurance company will not pay you any DV, unless you live in GA.
My advice, and it is only that, my advice -- Take it to one of your insurance company's shops -- let them fix or replace it at their choosing, and have a post-repair inspector look at the vehicle -- your expense. If the repairs are good you've got your car back -- if they suck, call your company on their guarantee -- use that as a tool if you need it -- but if it's fixed properly what do you have to complain about?
Finally, I hate to be such a downer here, because I'm really trying to help, but you may begin to think about not getting your deductible back -- at least for some time. From what I see you said the other car was going 60mph -- that's pretty hard to prove in court unless you have a radar gun in your car -- or 100 feet of skid marks (which does, and will work nicely.) Also, I see that you were turning left -- was he coming at you or was he attempting to pass on the left? Either way, I see the makings of a liability battle between your company and the other kid's company.
Best of luck with the car -- and to be honest, for your sake, I do hope it wasnt the SL500.
I recently totaled my 2001 Ford Explorer - 4WD. It was in good, if not excellent condition, loaded with options / extras. It had 86,000 miles on it. My insurance company just called and they want to settle for $7500. I still owe $9000 on it. I have never totaled a car before so I'm not sure how much room there is for negotiation and/or how to go about it.
Any help would be greatly appreciated. I don't have the money on hand to easily pay this off. I would have to settle that with a credit card - not even sure if that is possible.
Have you priced it out here at Edmunds? Price it here and at KBB.com, and use the retail value plus sales tax in your state. It's all negotiable. And one thing I realized after going through this once, your OWN ins. co. will screw you more than anyone else.
I've priced it at Edmunds and at KBB. In addition on KBB and on Cars.com I ran a search for the same vehicle to see what I came up with. I would say the average is in the high 9k range.
I did some reading online and what I think I understand is that my insurance is *supposed* to give me a Fair Market Value of my car .... so what I would expect to pay if I were to purchase the vehicle. Is that correct?
Also, I had a BRAND new (purchased this month) Thule roof rack on my vehicle and it was ruined. I have the shipping receipt with what I ordered and with my name and address on it but there is not cost information. Am I going to get screwed out of that? I asked them about it today and they said it would be considered. I'd like them to consider it to the tune of $358 - exactly how much it cost minus shipping.
Hi I recently totaled my 2003 Saturn Ion. I purchased this care because in 2003 my Mazda was totaled. The 2003 accident was in a no fault state and was not my fault. This accident was, and this is not a no fault state. I drove through a red light and was hit. The car that hit me was going about 30 miles over the speed limit but strangely enough the police officer did not give either of us a ticket. I have no other tickets or chargeable accidents in the last ten years. The 2003 accident did not increase my rates. I am concerned that my insurance co (American Family) will drop me. Does anyone know if this is likely? If I am dropped, what are the chances with obtaining insurance from someone else? My whole family uses one agent for almost everything, and I did have the safe driving discount.
You can also check autotrader.com to see what the asking prices of similar vehicles are in your area. I always felt cars.com was a bit high. Ebay's another good site.
To me, what they offered seems low. Between all the internet sources you've checked, it sounds like you have a good case for the high $9K range plus sales tax.
Also, see what Terry responds with to your post over in RWTIV's. He might not get to it right away, so repost every couple days.
As far as any accessories go that you had installed, those are difficult to get reimbursed for. But I'd give it a try anyway if they were just installed.
Wiggy, I don't think the insurance company should have to pay you for add-ons like a roof rack.
Suppose I bought a Civic for $20K and put in a special radio that cost $30K. If the car is stolen, I would not expect my insuance to give me a check for $50K.
The insurance company insures the basic car. IMHO, add-ons are your responsibility.
I did a little checking and your case in hindsight would be a good one for "new car replacement' (apparently new from Allstate) and possibly GAP insurance. The 'new care replacment' which I could not find real detail might pay for complete replacement in case of being totaled for x months or xx,xxx miles. Also, if your new car was financed with litte money down or no trade, then with the sudden depreciation that happens as soon as you drive off the lot, you may well owe the finance co./bank more than the insurance is obligated to pay for your vehicle. If I'm ever in this situation, I hope to have GAP AND the NCR coverage. I'm sure the downside is that they just don't give away this coverage, so it you purchase it and DO NOT use it, it has been wasted except for the insurance benefit and piece of mind.
How has your insurance company determined the value? They should be able to tell you that.
While that figure seems low to me, I don't know what kind of condition your vehicle is in -- is there a basketball sized dent in the 1/4 panel, has it been keyed, or are there some other versions of damage that would reduce the actual value of your vehicle? -- Does it have a salvage title -- rebuilt title? These are all things that can effect the value of a vehicle, and things it's likely that your insurance company will take into account.
As for the rack -- what they would owe (as long as it's within the bounds of your policy) is for the change in value that rack would add to the vehicle -- maybe 100.00 or so, maybe a little more -- not the replacement cost of the rack, sorry. I would read your policy for details on aftermarket equipment for that.
I would also equip yourself with a list of comparable vehicles in your area. That way when they say your value is "x" you can say, well these people don't think so. Do understand though that there would certainly be a difference between ask and take price, and again, your insurance company knows that -- it's best to be equipped with reasons why your vehicle is worth more though -- it will get them to at least revist the amount and possibly go higher and closer to your liking.
Also, the rack probably wouldnt be covered under homeowners -- and why make a 357.00 claim on your homeowners -- that would be rate suicide (and likely below deductible.)
The Explorer has major dents all over it - due to the rollover accident. It was dent/scratch/rust free before that. The interior was clean, but loaded with dog hair The upholstery was clean with no rips or tears. The windows were all crack free. The vehicle was in terrific condition.
I had another talk with the claims agent. I basically called to apologize for getting heated, she said the same. I then asked her to please reevaluate the settlement offer. I asked her to consider 9k and told her why I thought that was reasonable. I think this conversation will lead to a resolution in the morning. I had a better feeling when we got off the phone. I hope to have this matter resolved by tomorrow afternoon. More snow is headed our way and I need OUT of the rental car!
While I do not know the value of your Expy, please realize that your payoff to the lender has nothing to do with the value of the vehicle...and, since American cars depreciate like rocks, another poster mentioned GAP insurance, or you will have to pay the balance, if your payoff is truly more than your car is worth...
GAP will not help you now, since you cannot buy it for this car, only when you originally finance it...to me, it is some of the smartest insurance you can buy, as mandatory as title insurance when buying a house...
Check and be sure that THEIR numbers are correct...but add-ons like roof rack or better radio are almost never reimbursed, UNLESS you contacted the insurance and had them specifically include a rider at additional cost to cover the add-on...kinda like restoring a 68 Camaro, you can insure it for $5K or $10K, but you pay a special premium, because a routine 68 Camaro is worth about $200...
Sometimes, you can receive partial (50-75%) cost reimbursement for new engines and transmissions, but only because they are not really part of routine maintenance...
If, the day before the wreck, you installed 4 new tires for $800 and had a $300 brake job with new calipers and rotors, your reimbursement will be -0-, as they are part of routine maintenance of a vehicle, and will almost never be reimbursed by the insurance...
We CAN insure major risks, we do not insure every single dollar of risk...
Homeowner policy covers that which is usual to the occupancy of a dwelling.
Auto policy covers that which is usual to the vehicle and permantly attached. Thule roof rack would be under the car policy. Considering the rack is new, value = NEW.
The portable disc player that can be plugged into the power port is covered by the homeowner for it is not permantly attached to the car.
Expensive audio equipment including speakers are covered under the auto policy and add to the value of the vehicle. Some carriers may endorse limitations, others don't so read your policy. Some exclusions apply to Comprehensive claims, but not Collision. Read your policy.
Hi - new to this, but have a question. My 2001 Nissan Xterra was involved in an accident last week where the a driver blew a stop sign and hit the rear right tail, flipping my car to the drivers side and then pushing the car (on its side) complete around. State Farm is my insurer as well as the person who hit me. He was issued a ticket and liability has been established as being his. Repair shop called to tell me "we have $8610 to work with from insurance before it is totaled. Our estimate is $8,049 without any additional that may show up as we work. This is a fixable car." I told them not to touch the car until I talked to my agent who claims to feel as I do, but said only the main offices can handle it from here. They called me back and indicated they had not even spoken with the repair shop yet. State Farm did, however, requested an additional form (the name of which I cannot remember) and now their Total Loss Department is reviewing it. The car has approximately 85,500 miles, but was otherwise clean. It was an SE with 4 wheel drive. If it is only hundreds short of being totaled, we really do not want it back. We are concerned that if they repair the car, it will have the accident on its history and we will not be able to get anything for it on trade-in or sale AND we are concerned that the repairs are nearly 80% of the value. What are my rights? Do I even have any?! Thanks for any input, it is much appreciated.
Discussing the GAP insurance. I'm thinking I might be wise to keep my additional cash in pocket next new vehicle purchase and finance it all, if I can get GAP at a reasonable cost. In the past I have put down a few extra bucks if necessary to keep from being 'upside down' on the new vehicle (in addition to trade in a couple of times) and to keep the note down to a certain figure. Only downside I see is with interest rates climbing, the cost of borrowing is going up. I'm warming up to the possible upside of GAP that might cover some of the large initial depreciation if a vehicle was totaled in the say 6-24 month stage of ownership. I might even be prone to not trade to reduce the difference in purchase esp. if the old vehicle had more than a couple grand value. Max the loan and put the extra downpayment and proceeds from private sale of old vehicle into savings and use that to gradually cover the higher note if needed. Assuming you can finance the complete purchase without raising the interest rate. Hum....a plan to consider... But as with any insurance you hope to not have to collect on your gamble.
Thank you Mathias for your response. I have re-read nearly this entire thread and still feel a bit overwhelmed!
You indicate "take the money. . . " Are you implying we can say "give us the money you would have given the repair shop - we dont want the car back?" Is it within my rights to do so? Even at $8610 we are ahead - meaning its has a very very low payoff. I am assuming if we did that, it would be like taking the loss now as opposed to when we trade it in, the dealer sees the accident on the title and offers us a much lower price compared to it NOT being hit. Hmmm - looks like in the end we are out diminished value of the vehicle. We are in Illinois and I dont believe State Farm "believes" in DV, nor am I aware of what our State laws are. I guess I am off to do more investigating. Rats. As it stands now, State Farm's total loss department is looking further into and we should have a decision today. I never thought I would be pushing for my car to be totalled, but in this case with the repairs only hundreds shy of 80% of its value, it seems that it is in our best interest. I do want to point out that State Farm has been incredibly gracious, expedient and professional throughout - with prompt phone calls, educated representatives and the liable agent has agreed to pay for the upgraded rental we have (SUV for SUV). That has made this whole ordeal a bit easier to swallow. I did suffer injuries - but nothing life threatening AND more importantly - my 2 small children were not in the car with me. Something to be very grateful for! Thanks for everything. Lynn
A quick follow-up post --- the insurance company just called and did in fact total our SUV (and have offered us a very fair payout) so my questions are now moot. I appreciate having a place to post a question with the chance of receiving advice and appreciate Mathias' response. Lynn
Sorry, maybe this is not the right forum, but i could not find the right one. I am interviewing for a claims rep. trainee position with a large ins. co. and would like to know what is it like to work as an adjuster. Will I like it? I have no exp. in the field, but have lots of cust. srv. exp from another field. WHat is the worst part of the job? The company is Progrssive. What is the best part? Any info would be greatly appreciated. How intensive or difficult is the training? I have a degree, i don't think i am stupid, but i have never done somthing like this. Thanks for the help Anna
Progressive is one of the better companies. They will have an excellent training program & your degree indicates you have the ability to learn what they want you to know.
After your training, you will be assigned to a staff of other adjusters with a senior adjuster in charge. That you have experience dealing with the public will be of great help, however, you will be in the learning phase all of your career as laws, insurance contracts, & court decisions change all the time.
If you become an outside adjuster, you will be supplied with a car, expense account, & other usuals. If you are an inside telephone adjuster in one of their service centers and don't mind being cubed, there you are.
There are personal line adjusters and there are commercial line adjusters. Within each there are physical damage adjusters and liability adjusters. Expect to start out as a trainee in the personal line physical damage department.
Hopefully, your degree included Contract Law, Business Law, Torts, and Accounting. And that's only the beginning.
If you want a 40 hour workweek with benefits, no management worries and are satisfied with the cocoon of salary stability, work as a staff adjuster, but if you are inclined to be self starting, optimistic, and being your own boss, commissioned sales is highly recommended.
I have a 1994 Toyota Previa with 220K miles on it. I was wondering what is the best coverage for this vehicle which I would like to add also a 2006 Honday Accord to the policy. Any advise is highly appreciated!
Thanks for the info.I have a few more questions. AT Progressive they said i would be doing both, on the phone and then going out to assess damage and determine liability and estimate reapairs. I thought the police establishs liability, or is that only if there are injuries involved? WOuld I be dealing with people insured by Progressive or with the other party? What is it like dealing with the repair shops? Is it difficult (the repair shop wants to charge more than it should be)?. Whta would a typical day be like, more or less. How stressfull is it? I am trying to imagine it , but i have no way of really figuring out how it would be. THanks for any info/help. Also, how many claims does one handle per week? THANKS ">
I was rear-ended 2 weeks ago and the other guy's insurance company is (in my opinion) low balling me on settlement for my vehicle. I had a 2005 Pontiac Montana w/ 18,000 miles on in excellent condition that I had bought new and only had for a year. Anyway, they are telling me that what they are offering me is the Actual Cash Value but from what I've read on these forums everyone keeps talking about the Fair Market Value. Can someone please explain the difference? If they gave me the FMV that I quoted at www.edmunds.com then I would be getting about $2,500 more for my van than what they are offering me now. TIA!
I can't rightly explain the difference, as the actual cash value should be a Fair Market Value -- the deciding factor often is the condition of your vehicle, as well as the ACV, or selling price of comparable vehicles in your locale. Best thing to do is to come up with comparable vehicles in your area to present to the other insurance company. Also, request from them where they are getting their values. It will likely be NADA, ADP, or CCC Valuescope -- all of which utilize a little different format to determine the value of vehicles. As such, they will all come up with a slightly different value.
If you're really not happy with the other insurance company's value, and don't feel like fighting it much, file a claim with your own carrier and see what their value is -- it may be better, and they should be able to collect that full value from the other carrier (should)
Bear in mind that your interpretation of "excellent" may differ from a dealers, or insurance company's of the same -- present a case for your vehicle -- a well thought out case -- and you likely can get a bit more. At least you should be able to get justification from them why they feel your vehicle is worth 2.5k less than Edmunds (I could give you mine, but I haven't seen your vehicle.)
Thank you for your response. They are using CCC Valuescope to get their value. Here's a question for you also, shouldn't they be comparing my vehicle to other vehicles that are the same make and model as mine? They are comparing my minivan to another GM minivan that is valued slightly less than mine so it's bringing down the value of mine and bringing down my settlement. I just don't understand how that is fair.
I will definitely be going online, finding comparable vehicles, printing out the pages and submitting it to them.
Also, I understand the whole excellent condition thing can differ but really, I'm anal about my cars. For insurance purposes, I'd say it was 'clean' but it definitely was better than average.
Yes, they should use comp vehicles -- sometimes if you live in a rural area the sample is too small and they have to branch out a little on their comp vehicles -- yes that does mess up the value -- for you.
CCC is a complete crock in my opinion -- rather, the way companies utilize CCC. At its heart it is a market search for comp vehicles and thus a pretty good standard. The problem is that it finds the mean vehicle and the other company utilizes that as the benchmark vehicle for excellent condition. From there they will likely reduce your value for options that you don't have, mileage and condition. Personally, I think a CCC value tends to take prior (limited) damage into account already -- also rarely can they produce a good solid list of those comp vehicles -- go look at them (at least see if they exist) see if they truly are comp vehicles. If they are, then CCC has indeed established a Fair Market Value for you vehicle and all is well.
Nope, I don't live in a rural area. lol I live right outside of Atlanta and *I* can even find plenty of my 2005 Pontiac Montana online yet pretty much all they are comparing my van to is a Chevy Venture van which while it may be a GM, is not a comprable van. They have different options, trim levels, etc. My DH works in the auto business and has been helping me find information.
Well, part of the problem with CCC was they left off about 4 options that I had and then compared my vehicle to another Pontiac that had them but deducted it off the other Pontiac to level the playing field so to speak. Those options would have raised my value and yes, I have already let them know this. I really feel like they're comparing my van to a Venture van because it is lessening the value. There are PLENTY of Montana's for them to compare it to so I don't understand why they aren't. We've brought this up to them as an issue and said we won't accept a settlement until they fairly compare my vehicle to the same make and model.
Is there any way we can demand they use another way to value our vehicle or do companies always use only one method?
You are asking some very good questions and all of them should be asked of Progressive officials - Claims Manager would be a person to speak with about your concerns.
"How stressfull is it?" Stress varies from case to case, person to person, and situation to situation. You will be trained to identify a fraudulent claim such as trying to include previous damage in a new claim.
Hi, I would appreciate if I could get some insights and advise or if you can share your experience on a scenario like this. Our X3 was involved in a accident as the car was trying to make a left turn and we didn't see the car heading down and it crashed onto the front right side. Fortunately no injuries but the front was damaged considerably, no roof/door or windshield damage. It is a 05, 3.0, black with about 5k miles on it.(Yes we bought it only in Apr 05 . I spoke the body work place (reccoed by BMW dealership) and the initial estimate is about $15k, and they are replacing all damaged parts, they want to check more after taking the engine and transmission so may be we are looking at a $20k damage may be not. He says there is damage to the right frame (folded) but since it is ahead of the suspension on the chassis it is very repairable. We bought the the X3 for about $39k + taxes (WA state) saved some money as we took european delivery. The question I have is, what impact will this kind of repair work have on the resale value if we sell in about 3-4 yrs, say 1 yr after the warranty is over ? Also is this damage/costs significant enough to push for totaling the car given the chassis/frame damage ? Should we be looking to trade-in or sell the repaired X3 well before warranty ends to get the best deal ? Any other things we should either take care of or plan for ? Thanks
Can any claims adjuster give me a brief description of what a typical day on the job is like for an adjuster who handle claims both in the office and outside, and deals with the whole claim from start to finish? Assume you are not a senior adjuster yet. What is the extent of dealing with repair shops? Thanks for any info, I really need it.
I recently took a job in OH and i drive a car under my parents name and insurance in PA. I have a PA drivers license but was recently informed that since i have taken a job in OH i must switch my drivers license to OH. I have an apartment in OH but plan to return to PA in the next 12 to 18 mos.
When i get an OH Drivers License do i have to notify the insurance company and am i covered if i drive the vehicle in ohio?
Should we move the vehicle to my name and insure it that way? is it possible that an insurer may keep the vehicle at the same rate with a young 22 driver in another state?
We have a really good rate because the family business all assets etc. is insured under a "umbrella" policy and we would like to keep that rate if possible.
.. **The question I have is, what impact will this kind of repair work have on the resale value if we sell in about 3-4 yrs, say 1 yr after the warranty is over ? Also is this damage/costs significant enough to push for totaling the car given the chassis/frame damage ? Should we be looking to trade-in or sell the repaired X3 well before warranty ends to get the best deal ?. >>>He says there is damage to the right frame (folded) but since it is ahead of the suspension on the chassis it is very repairable. We bought the the X3 for about $39k + taxes (WA state)** =================================
For starters, you have frame damage ..... lets pretend it's BA (Before Accident) .. if you traded it the day before, you "might maybe" be seeing in and around the $30ish figure on the trade side, that's if it's loaded-up with *all* the stuff and with those low miles .... now, it's AC (After Accident) and you're stairing down the barrel of a $15/$20,000 repair once they get into it - and I have a funny feelin' it's going to be "plus plus" ....
I'm "assuming" it's already hit Carsmack, plus the finish work will be on the BMW service computer .... lets say they spend $18,000/$22,000 to put it all together .. when it's all done, it "might maybe" be worth $18/$20,000 trade side "if" it's puuuurfect and it glows in the dark (which I doubt) .. and Bimmer dealers will avoid it like the Bird Flu unless they can buy it for at least $10,000 back of auction money, and even then, they have to declare it at the auction because they won't want it ...
When it's all finished in 4/8 weeks .. it might "maybe" be worth $22/$24 down Retail Rd because of the frame damage and the huuuge amount of repair .... what will it be worth in 3/4 years.?? .. I dunno, can't say, it's a market thing .. but if we use a loaded-up 04 X3 3.0 as a static figure, then you're stairing down the barrel of the $14/$15/$16 region .. add some years and some miles, and those numbers will drop like an anvil on Jupiter ..... can you spell TOTAL ......
I was in a serious mva in sept.. Was rearended on an interstate while stopped to wait for another accident to get cleared. Was hit by suv at 75mph. Needless to say I had numerous injuries that have totalled up to 55k and loss wages totalling over 32k. I have hired an attorney and am concerned on what the other guys policy limits are. I have had my attorney call progressives adjuster and he does not call back. My question is, what is his motive for not returning the phone call? Not enough coverage for the claim or doesnt want to disclose the amount of the policy limit because it is substantial? Any input on this. I am getting worried. Thanks, Bill
I understand that if the value of my claim would exceed his policy limits I could sue and than have a judgement larger than the limit but in this case I believe I am not going to get blood out of turnip. Wondering if I should terminate my lawyer and go it alone ?
Well, has there been any other contact with the other driver's insurance company? Anything written? Was the other drive issued a ticket? Was there a police report filed?
I had an incident a couple of years ago...my lawn tractor threw something that broke a little side window on a passing Expedition. I gave the driver my info (auto and home both with Allstate. Homeowner deductible is $1000). I called around and got various prices from maybe $600 - $1500 ($1500+ list) for that piece of glass. Their insurance called and left me 2-3 messages about "Was I going to pay? etc." A couple of them were barely coherent. I did not return the calls. After a couple of months, I got a reasonable written request to pay the replacement of less than $300. I sent them a check within a week or so.
My belief is that you send something in writing if you want a response...otherwise, you really have no valid rebuttal to "Sorry, we did not get your message." It could have been garbled if voicemail or misdelivered if taken by someone. Or they could be ignoring you hoping that you go away.
It would probably be a mistake at this point to do away with your attorney. Even if the claims exceed the drivers limits, if they have wealth or property, you might be able to recover from those assets.
Has your insurance been helping you out on this? Have they had contact with Progressive to recover vehicle damages, etc. They may be out of the loop as far as injuries and lost wages though.
Yes the other driver was cited. I was written a check for the car damages( which was totaled). Took them 40 minutes to cut me out of car and than helicopter flew me into hospital. It made the news and all that crap. Police report I and attorney have. I allready used my PIP from my insurance. My health insurance has been taking care of the med bills so far, but I know they have a lean on settlement. I called Progressive yesterday to find out his policy limits. no go, can't give that information. I fire off an e-mail to my attorney today and demanded he get the policy limits immediatly and if the adjustor does not give them I told him to file suit and serve a set of interrogatories. Than they will have 20 days to respond. Havnt heard nothing from my attorney from that email. Wondering if my attorney isnt soaking me?
I still don't understand. Why do you NEED to know his limits so badly? If you've suffered 150k of damages, you've suffered 150k of damages. If it's a million, than it's a million.
Point being, your attorney will present a demand for a figure that they think your claim is worth, knowing the other party's limits will only save your attorney time and make his job easier -- that's not the insurance company's job to do that, and they wouldn't very well be protecting their insured by telling you exactly how much coverage he has, i.e., "well mr. hack attorney, our client actually has a 3 million umbrella policy. Now what did you say that injury was worth?" Mr. hack attoryney, "Honestly, what a coincidence, My clients injury just happens to be worth 3 million ... we can make a quick day of this and you can just cut a check right now."
Do you see what I mean here? You have damages for certain, but you may have no right (depending on the state) to know the other party's limits. Just tell your attorney to value your claim, make a demand and move from there.
Point taken. i believe I will just let it take its course and see what happens. Whats meant to be is meant to be. I'm just hoping I at least get my lost earnings back.
Having just been involved in a very serious accident myself, I understand wanting to get the limits. Most PI attorneys are going to take 25-40% of any money they recover. If you know the limits are lower than your loss, you can have your family attorney pull together a few documents, bill you for a few hours of work, and file your claim.
The last thing you need is for a serious PI attorney to do all this work, threaten lawsuits, go through trial prep, etc., and realize you need to settle in the end because the guy has no assets and his limit is lower than your claim. Not only are you then out the difference between his limit and your claim, but you've lost another five digits to the attorney.
My family attorney had a very polite off the record discussion with the claim rep. She followed up with a letter asking for the limits, and received a polite response with the amounts. She'll bill me for a few hundred bucks, I'll get every dollar under the limit, and the PI lawyer will probably not get involved. Saves a lot of grief and money.
Not every insurer is going to do this because until they know the potential claims they feel like they're giving you a target. But if it's pretty clear you'll reach the policy limits, they'll probably let you know the amount. It's definitely worth a shot.
I wish I have had your insight Geodonnell. Just talked to my attorney and found out his limit is 100k per person. So I get the shaft. I have 55k worth of med bills and loss earnings of over 40k and my attorney is going to get 1/3 of the 100k. I cant believe this is happening. Wonder if its too late to fire the attorney? HA!
Comments
Have a copy of the police report and spend about 30 min with Allstate setting up the claim. Also give the Allstate info to your ins so they can be reimbursed by Allstate. Mayve Allstate will total the car, I do not know.
Totalling is a term of art, not science. Each ins company determines a percentage, probably ranging from 75-80-85%, where if the damages exceed the % value of the car, then it is totalled.
So, assume a car is worth $20,000.00. Company A, at 75%, will total the vehicle when damages exceed $15,000.00. But Company B, at, say, 83%, will not total the car until damages exceed $16,600.00. The final result is that damages of $16,000.00 will be a total to Company A and repairable to Company B. There is usually NO negotiation on this. If they feel it is worth fixing, they will fix it, and you are stuck unless Georgia allows for "Diminished Value" compensation.
Hope this helps...
3 Supplementals 3,500
Rental Expense until repairs are completed = who knows?
As of this date, it would be good to know how much the body shop has spent in repairs so far. If a nominal amount compared to $14,000 plus rental expense, perhaps
the At Fault Carrier, Allstate, would negotiate a settlement based on there being a "total".
The practice of body shops "low balling" the estimate just to get the wreck into their shop should have some financial ramifications on the body shop. Their inaccurate estimate of damages should not be rewarded with honoring three supplementals.
The Body Shop should swallow the expense of repair done so far. They failed to and didn't present a complete estimate. This failure "messlead" all concerned and is the root of your present problem.
Junk the Jetta. Tis a total. Sorry.
I'll let others answer about "diminished value" in CA, as it varies by state. In some you are entitled to compensation, in others not.
I do not know what recourse you have with the insurance companies, if any.
One option is this: Say the decision is made to repair the car; the replacement value is thought to be $20k to pick an example, and the repair will cost $14. The ins co would rather be out $14 than $20, to be sure.
One option you have is to tell them you would rather take a check for $14 than have the work started. You also still own the wreck, which has some value, and which you are free to sell on your own.
The reason they don't want to total it is simple: If the repair is $14, that's what it'll cost, and if it's $15, than it's a grand more... but if the repair puts them over that magical threshold of 80% of value (or whatever it happens to be for that particular company), they owe you $20 plus sales tax.
As far as selling the wreck, I did that once and it was not difficult at all; I took pictures of the car and of the estimate and made a web page, then started calling salvage auctions and asked whoever answsered the phone for names of people who buy from them... in the end, I got a phone call from a guy 50 miles away who came with a truck, a tow dolly, and cash. Wrecks can have quite a bit of value, and while you're not likely to get a "good price", you'll get more money this way than if you sell it to a salvage yard for a few hundred.
If you owe money on the vehicle, you have to talk to those people, too. Short-term money to pay off the loan can make things a lot easier; a home equity loan, for instance.
The way I see it, you WILL lose money unless the car is totaled. And the ins co has no incentive to total it if they don't have to.
Say you're out $3-4k... that money had left you pocket by the time your car came to rest after the hit. The only question is how you handle the situation. Back on the road, your ar will be worth maybe 60% of what it was worth before the accident... having it fixed may well be more expensive than eating the loss now.
Oh and I almost forgot: Count your blessings. You're still alive... the car has served you well up to now.
Good luck,
-Mathias
What does that mean? What is the "wrong lane"?
I hate to contradict the prior post -- but I wholeheartedly disagree -- tenatively at least.
The question here is what did you buy that car for? An investement -- poor investment choice if it was as cars depreciate at a ridiculus rate. For transportation? Good choice -- now how long did you plan to own that particular vehicle? Short term or long term?
With those questions answered I make a better informed guess as to, in only my opinion, your best course of action.
Up front though -- it is not YOUR choice whether the car is totalled or not -- you have no say in that -- especially with your own insurance carrier. Also, as far as I know your policy will likely not allow any DV claim either in CA.j
Let me know what your original plans with the vehicle were when you bought it and I'll take you through how there may actually be no loss to you at all if it fixes.
There are so many unanswered questions here it's pretty difficult for anyone to give you a good solid answer. For instance, you said your vehicle was three weeks old -- is it a three week old SL500 or a three week old Rio? Because a 10k sheet on an SL500 might be a bumper, hood and blend, while you could probably clip/roof and repaint an entire Rio for that (not that it wouldn't total at half that.)
Also, everyone who looks at your car thinks it's a total. Is that everyone that you know? Or was it just the guy riding with you and a tow truck driver -- who likely saw a folded over wheel and assumed it was totaled.
Don't get me wrong, your car may well need extensive repairs, but that's not to say they can't be completed properly and safely. I say this because if your vehicle is three weeks old you are going to lose a good chunk of its value if it totals -- because it lost that when it came off the lot. I wouldn't give figures (SL500 or Rio) but if you paid 20k, you might get 18k ACV.
The thing is -- you still, regardless if you take the cash out or not, have no say over whether your vehicle totals or not. Say the insurance company doesn't total your car -- then likely you will not get enough money to replace it with the cash to repair and a salvage buyer. That's because you insurance company knows a little about salvage and the economics of repairing or totalling a vehicle. Their calculations will likely include a salvage bid -- and if the repair cost plus rental plus salvage and taxes exceeds the ACV (or your insurance company's pay out) then they will total the vehicle regardless. -- Point being, they're doing the math for you -- and likely with alot more experience and more accurate information.
As for DV, you haven't suffered a loss in value until you actually sell the vehicle. So, if you planned to drive the car for some time then likely that loss will be negligible at best -- and, again, your insurance company will not pay you any DV, unless you live in GA.
My advice, and it is only that, my advice -- Take it to one of your insurance company's shops -- let them fix or replace it at their choosing, and have a post-repair inspector look at the vehicle -- your expense. If the repairs are good you've got your car back -- if they suck, call your company on their guarantee -- use that as a tool if you need it -- but if it's fixed properly what do you have to complain about?
Finally, I hate to be such a downer here, because I'm really trying to help, but you may begin to think about not getting your deductible back -- at least for some time. From what I see you said the other car was going 60mph -- that's pretty hard to prove in court unless you have a radar gun in your car -- or 100 feet of skid marks (which does, and will work nicely.) Also, I see that you were turning left -- was he coming at you or was he attempting to pass on the left? Either way, I see the makings of a liability battle between your company and the other kid's company.
Best of luck with the car -- and to be honest, for your sake, I do hope it wasnt the SL500.
I recently totaled my 2001 Ford Explorer - 4WD. It was in good, if not excellent condition, loaded with options / extras. It had 86,000 miles on it. My insurance company just called and they want to settle for $7500. I still owe $9000 on it. I have never totaled a car before so I'm not sure how much room there is for negotiation and/or how to go about it.
Any help would be greatly appreciated. I don't have the money on hand to easily pay this off. I would have to settle that with a credit card - not even sure if that is possible.
Any/all input would be greatly appreciated.
Also, go ask Terry at Real World Trade-in Values.
I did some reading online and what I think I understand is that my insurance is *supposed* to give me a Fair Market Value of my car .... so what I would expect to pay if I were to purchase the vehicle. Is that correct?
Also, I had a BRAND new (purchased this month) Thule roof rack on my vehicle and it was ruined. I have the shipping receipt with what I ordered and with my name and address on it but there is not cost information. Am I going to get screwed out of that? I asked them about it today and they said it would be considered. I'd like them to consider it to the tune of $358 - exactly how much it cost minus shipping.
This is stressful
I recently totaled my 2003 Saturn Ion. I purchased this care because in 2003 my Mazda was totaled. The 2003 accident was in a no fault state and was not my fault. This accident was, and this is not a no fault state. I drove through a red light and was hit. The car that hit me was going about 30 miles over the speed limit but strangely enough the police officer did not give either of us a ticket. I have no other tickets or chargeable accidents in the last ten years. The 2003 accident did not increase my rates. I am concerned that my insurance co (American Family) will drop me. Does anyone know if this is likely? If I am dropped, what are the chances with obtaining insurance from someone else? My whole family uses one agent for almost everything, and I did have the safe driving discount.
To me, what they offered seems low. Between all the internet sources you've checked, it sounds like you have a good case for the high $9K range plus sales tax.
Also, see what Terry responds with to your post over in RWTIV's. He might not get to it right away, so repost every couple days.
As far as any accessories go that you had installed, those are difficult to get reimbursed for. But I'd give it a try anyway if they were just installed.
Good luck and let us know how you make out.
Suppose I bought a Civic for $20K and put in a special radio that cost $30K. If the car is stolen, I would not expect my insuance to give me a check for $50K.
The insurance company insures the basic car. IMHO, add-ons are your responsibility.
Hope your situation works out for the best.
How has your insurance company determined the value? They should be able to tell you that.
While that figure seems low to me, I don't know what kind of condition your vehicle is in -- is there a basketball sized dent in the 1/4 panel, has it been keyed, or are there some other versions of damage that would reduce the actual value of your vehicle? -- Does it have a salvage title -- rebuilt title? These are all things that can effect the value of a vehicle, and things it's likely that your insurance company will take into account.
As for the rack -- what they would owe (as long as it's within the bounds of your policy) is for the change in value that rack would add to the vehicle -- maybe 100.00 or so, maybe a little more -- not the replacement cost of the rack, sorry. I would read your policy for details on aftermarket equipment for that.
I would also equip yourself with a list of comparable vehicles in your area. That way when they say your value is "x" you can say, well these people don't think so. Do understand though that there would certainly be a difference between ask and take price, and again, your insurance company knows that -- it's best to be equipped with reasons why your vehicle is worth more though -- it will get them to at least revist the amount and possibly go higher and closer to your liking.
Also, the rack probably wouldnt be covered under homeowners -- and why make a 357.00 claim on your homeowners -- that would be rate suicide (and likely below deductible.)
I had another talk with the claims agent. I basically called to apologize for getting heated, she said the same. I then asked her to please reevaluate the settlement offer. I asked her to consider 9k and told her why I thought that was reasonable. I think this conversation will lead to a resolution in the morning. I had a better feeling when we got off the phone. I hope to have this matter resolved by tomorrow afternoon. More snow is headed our way and I need OUT of the rental car!
Thanks for everyone's input
GAP will not help you now, since you cannot buy it for this car, only when you originally finance it...to me, it is some of the smartest insurance you can buy, as mandatory as title insurance when buying a house...
Check and be sure that THEIR numbers are correct...but add-ons like roof rack or better radio are almost never reimbursed, UNLESS you contacted the insurance and had them specifically include a rider at additional cost to cover the add-on...kinda like restoring a 68 Camaro, you can insure it for $5K or $10K, but you pay a special premium, because a routine 68 Camaro is worth about $200...
Sometimes, you can receive partial (50-75%) cost reimbursement for new engines and transmissions, but only because they are not really part of routine maintenance...
If, the day before the wreck, you installed 4 new tires for $800 and had a $300 brake job with new calipers and rotors, your reimbursement will be -0-, as they are part of routine maintenance of a vehicle, and will almost never be reimbursed by the insurance...
We CAN insure major risks, we do not insure every single dollar of risk...
Auto policy covers that which is usual to the vehicle and permantly attached. Thule roof rack would be under the car policy. Considering the rack is new, value = NEW.
The portable disc player that can be plugged into the power port is covered by the homeowner for it is not permantly attached to the car.
Expensive audio equipment including speakers are covered under the auto policy and add to the value of the vehicle.
Some carriers may endorse limitations, others don't so read your policy. Some exclusions apply to Comprehensive claims, but not Collision. Read your policy.
Good day,
Bill
Good idea putting on the brakes and coming to ask for advice. I agree: you don't want that car back. Take the money; the question is how much money...
-Mathias
You indicate "take the money. . . " Are you implying we can say "give us the money you would have given the repair shop - we dont want the car back?" Is it within my rights to do so? Even at $8610 we are ahead - meaning its has a very very low payoff. I am assuming if we did that, it would be like taking the loss now as opposed to when we trade it in, the dealer sees the accident on the title and offers us a much lower price compared to it NOT being hit. Hmmm - looks like in the end we are out diminished value of the vehicle. We are in Illinois and I dont believe State Farm "believes" in DV, nor am I aware of what our State laws are. I guess I am off to do more investigating. Rats. As it stands now, State Farm's total loss department is looking further into and we should have a decision today. I never thought I would be pushing for my car to be totalled, but in this case with the repairs only hundreds shy of 80% of its value, it seems that it is in our best interest. I do want to point out that State Farm has been incredibly gracious, expedient and professional throughout - with prompt phone calls, educated representatives and the liable agent has agreed to pay for the upgraded rental we have (SUV for SUV). That has made this whole ordeal a bit easier to swallow. I did suffer injuries - but nothing life threatening AND more importantly - my 2 small children were not in the car with me. Something to be very grateful for! Thanks for everything. Lynn
Anna
After your training, you will be assigned to a staff of other adjusters with a senior adjuster in charge. That you have experience dealing with the public will be of great help, however, you will be in the learning phase all of your career as laws, insurance contracts, & court decisions change all the time.
If you become an outside adjuster, you will be supplied with a car, expense account, & other usuals. If you are an inside telephone adjuster in one of their service centers and don't mind being cubed, there you are.
There are personal line adjusters and there are commercial line adjusters. Within each there are physical damage adjusters and liability adjusters. Expect to start out as a trainee in the personal line physical damage department.
Hopefully, your degree included Contract Law, Business Law, Torts, and Accounting. And that's only the beginning.
If you want a 40 hour workweek with benefits, no management worries and are satisfied with the cocoon of salary stability, work as a staff adjuster, but if you are inclined to be self starting, optimistic, and being your own boss, commissioned sales is highly recommended.
Good Luck!
THANKS
I can't rightly explain the difference, as the actual cash value should be a Fair Market Value -- the deciding factor often is the condition of your vehicle, as well as the ACV, or selling price of comparable vehicles in your locale. Best thing to do is to come up with comparable vehicles in your area to present to the other insurance company. Also, request from them where they are getting their values. It will likely be NADA, ADP, or CCC Valuescope -- all of which utilize a little different format to determine the value of vehicles. As such, they will all come up with a slightly different value.
If you're really not happy with the other insurance company's value, and don't feel like fighting it much, file a claim with your own carrier and see what their value is -- it may be better, and they should be able to collect that full value from the other carrier (should)
Bear in mind that your interpretation of "excellent" may differ from a dealers, or insurance company's of the same -- present a case for your vehicle -- a well thought out case -- and you likely can get a bit more. At least you should be able to get justification from them why they feel your vehicle is worth 2.5k less than Edmunds (I could give you mine, but I haven't seen your vehicle.)
I will definitely be going online, finding comparable vehicles, printing out the pages and submitting it to them.
Also, I understand the whole excellent condition thing can differ but really, I'm anal about my cars. For insurance purposes, I'd say it was 'clean' but it definitely was better than average.
CCC is a complete crock in my opinion -- rather, the way companies utilize CCC. At its heart it is a market search for comp vehicles and thus a pretty good standard. The problem is that it finds the mean vehicle and the other company utilizes that as the benchmark vehicle for excellent condition. From there they will likely reduce your value for options that you don't have, mileage and condition. Personally, I think a CCC value tends to take prior (limited) damage into account already -- also rarely can they produce a good solid list of those comp vehicles -- go look at them (at least see if they exist) see if they truly are comp vehicles. If they are, then CCC has indeed established a Fair Market Value for you vehicle and all is well.
Well, part of the problem with CCC was they left off about 4 options that I had and then compared my vehicle to another Pontiac that had them but deducted it off the other Pontiac to level the playing field so to speak. Those options would have raised my value and yes, I have already let them know this. I really feel like they're comparing my van to a Venture van because it is lessening the value. There are PLENTY of Montana's for them to compare it to so I don't understand why they aren't. We've brought this up to them as an issue and said we won't accept a settlement until they fairly compare my vehicle to the same make and model.
Is there any way we can demand they use another way to value our vehicle or do companies always use only one method?
Thank you so much for your help!
"How stressfull is it?" Stress varies from case to case, person to person, and situation to situation. You will be trained to identify a fraudulent claim such as trying to include previous damage in a new claim.
I would appreciate if I could get some insights and advise or if you can share your experience on a scenario like this.
Our X3 was involved in a accident as the car was trying to make a left turn and we didn't see the car heading down and it crashed onto the front right side. Fortunately no injuries but the front was damaged considerably, no roof/door or windshield damage.
It is a 05, 3.0, black with about 5k miles on it.(Yes we bought it only in Apr 05 .
I spoke the body work place (reccoed by BMW dealership) and the initial estimate is about $15k, and they are replacing all damaged parts, they want to check more after taking the engine and transmission so may be we are looking at a $20k damage may be not. He says there is damage to the right frame (folded) but since it is ahead of the suspension on the chassis it is very repairable.
We bought the the X3 for about $39k + taxes (WA state) saved some money as we took european delivery.
The question I have is, what impact will this kind of repair work have on the resale value if we sell in about 3-4 yrs, say 1 yr after the warranty is over ?
Also is this damage/costs significant enough to push for totaling the car given the chassis/frame damage ?
Should we be looking to trade-in or sell the repaired X3 well before warranty ends to get the best deal ?
Any other things we should either take care of or plan for ?
Thanks
When i get an OH Drivers License do i have to notify the insurance company and am i covered if i drive the vehicle in ohio?
Should we move the vehicle to my name and insure it that way? is it possible that an insurer may keep the vehicle at the same rate with a young 22 driver in another state?
We have a really good rate because the family business all assets etc. is insured under a "umbrella" policy and we would like to keep that rate if possible.
Also is this damage/costs significant enough to push for totaling the car given the chassis/frame damage ?
Should we be looking to trade-in or sell the repaired X3 well before warranty ends to get the best deal ?.
>>>He says there is damage to the right frame (folded) but since it is ahead of the suspension on the chassis it is very repairable.
We bought the the X3 for about $39k + taxes (WA state)**
=================================
For starters, you have frame damage ..... lets pretend it's BA (Before Accident) .. if you traded it the day before, you "might maybe" be seeing in and around the $30ish figure on the trade side, that's if it's loaded-up with *all* the stuff and with those low miles .... now, it's AC (After Accident) and you're stairing down the barrel of a $15/$20,000 repair once they get into it - and I have a funny feelin' it's going to be "plus plus" ....
I'm "assuming" it's already hit Carsmack, plus the finish work will be on the BMW service computer .... lets say they spend $18,000/$22,000 to put it all together .. when it's all done, it "might maybe" be worth $18/$20,000 trade side "if" it's puuuurfect and it glows in the dark (which I doubt) .. and Bimmer dealers will avoid it like the Bird Flu unless they can buy it for at least $10,000 back of auction money, and even then, they have to declare it at the auction because they won't want it ...
When it's all finished in 4/8 weeks .. it might "maybe" be worth $22/$24 down Retail Rd because of the frame damage and the huuuge amount of repair .... what will it be worth in 3/4 years.?? .. I dunno, can't say, it's a market thing .. but if we use a loaded-up 04 X3 3.0 as a static figure, then you're stairing down the barrel of the $14/$15/$16 region .. add some years and some miles, and those numbers will drop like an anvil on Jupiter ..... can you spell TOTAL ......
Terry :sick:
Thanks,
Bill
What do his policy limits have to do with the value of your claim, or the cost of your damages?
I had an incident a couple of years ago...my lawn tractor threw something that broke a little side window on a passing Expedition. I gave the driver my info (auto and home both with Allstate. Homeowner deductible is $1000). I called around and got various prices from maybe $600 - $1500 ($1500+ list) for that piece of glass. Their insurance called and left me 2-3 messages about "Was I going to pay? etc." A couple of them were barely coherent. I did not return the calls. After a couple of months, I got a reasonable written request to pay the replacement of less than $300. I sent them a check within a week or so.
My belief is that you send something in writing if you want a response...otherwise, you really have no valid rebuttal to "Sorry, we did not get your message." It could have been garbled if voicemail or misdelivered if taken by someone. Or they could be ignoring you hoping that you go away.
It would probably be a mistake at this point to do away with your attorney. Even if the claims exceed the drivers limits, if they have wealth or property, you might be able to recover from those assets.
Has your insurance been helping you out on this? Have they had contact with Progressive to recover vehicle damages, etc. They may be out of the loop as far as injuries and lost wages though.
Good luck on your recovery.
Point being, your attorney will present a demand for a figure that they think your claim is worth, knowing the other party's limits will only save your attorney time and make his job easier -- that's not the insurance company's job to do that, and they wouldn't very well be protecting their insured by telling you exactly how much coverage he has, i.e., "well mr. hack attorney, our client actually has a 3 million umbrella policy. Now what did you say that injury was worth?" Mr. hack attoryney, "Honestly, what a coincidence, My clients injury just happens to be worth 3 million ... we can make a quick day of this and you can just cut a check right now."
Do you see what I mean here? You have damages for certain, but you may have no right (depending on the state) to know the other party's limits. Just tell your attorney to value your claim, make a demand and move from there.
The last thing you need is for a serious PI attorney to do all this work, threaten lawsuits, go through trial prep, etc., and realize you need to settle in the end because the guy has no assets and his limit is lower than your claim. Not only are you then out the difference between his limit and your claim, but you've lost another five digits to the attorney.
My family attorney had a very polite off the record discussion with the claim rep. She followed up with a letter asking for the limits, and received a polite response with the amounts. She'll bill me for a few hundred bucks, I'll get every dollar under the limit, and the PI lawyer will probably not get involved. Saves a lot of grief and money.
Not every insurer is going to do this because until they know the potential claims they feel like they're giving you a target. But if it's pretty clear you'll reach the policy limits, they'll probably let you know the amount. It's definitely worth a shot.