Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!

Do you currently drive a 2019 Ford Ranger and live in Michigan?
A reporter would like to talk to you; please reach out to [email protected] for more details.
Did you get a great deal? Let us know in the Values & Prices Paid section!
Meet your fellow owners in our Owners Clubs

How do I know my Insurance is giving me the right amount?

joahjoah Posts: 3
edited July 2015 in General
I recently had a car accident, at first my insurance was going to repair it but at the last second they told me my car is a total loss. I checked on Edmunds of my car value

Car: Black 2010 Honda Accord EX-L V6 Sedan
Miles: ~105,xxx
No modification or Navi
Has the basic traction control, premium sound, 6 disc changer, leather seats, dual power seating, etc.
Located in the 49508

They're giving me $11,000 after taxes and a $500 deductible. Is this a fair amount?

Thanks for the help!
Tagged:

Comments

  • kyfdxkyfdx Posts: 119,942
    joah said:

    I recently had a car accident, at first my insurance was going to repair it but at the last second they told me my car is a total loss. I checked on Edmunds of my car value

    Car: Black 2010 Honda Accord EX-L V6 Sedan
    Miles: ~105,xxx
    No modification or Navi
    Has the basic traction control, premium sound, 6 disc changer, leather seats, dual power seating, etc.
    Located in the 49508

    They're giving me $11,000 after taxes and a $500 deductible. Is this a fair amount?

    Thanks for the help!

    Right or wrong, every used car manager in the country will tell you that your car can't be in "outstanding" condition, if you have over 100K miles on it. Take out the $990 adjustment for condition, and I'd say you are pretty close on value.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • explorerx4explorerx4 Central CTPosts: 13,561
    At least where I live, the number is supposed to include sales tax, so there's that.
    2017 Ford Fusion SE 2017 Ford F-150 Limited
  • kyfdxkyfdx Posts: 119,942

    At least where I live, the number is supposed to include sales tax, so there's that.

    Good point.... where I live, as well

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • joahjoah Posts: 3
    sorry the figure is...

    Actual Cash Value: $10,853.00
    Applicable Taxes/Fee: $666.18
    Less Deductible: -$500.00

    Total Pay out or total loss: $11,019.18

    Should I accept this offer or try to fight it for a little more?
  • steverstever Posts: 52,462
    edited July 2015
    I think you're pretty close but it's been decades since I've done this drill. You may be able to get ~$500 more, maybe not. Back in the 70s, a family car that got creamed had just had an engine rebuild and the insurance coughed up a few more bucks for that.

    Confessions of an Auto Claims Adjuster
  • Mr_ShiftrightMr_Shiftright Sonoma, CaliforniaPosts: 64,490
    Looks close to me, maybe a tad low. Of course you could ask for another $1000---all they can do is say "no, get an appraisal"--but by the time you do that, and then go through arbitration, you've spent an additional $650 or so to gain $1000.
  • joahjoah Posts: 3
    I guess I will accept it then. Thanks for all the help guys.
Sign In or Register to comment.