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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.