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Thread: insurance totaled car?????

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    Veteran Member stripperMBA's Avatar
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    Default insurance totaled car?????

    So last week a 16 year old who had just gotten their licence rear ended my car. The parents admitted it was their teens fault. there were ten cars stopped in front of me, and that area is always bumper to bumper traffic. So thankfully the teen had isurance. But now their insurance company wants to declare my car totaled. they want to give me about 9,450. I just bought the car in march for 10,400. How do I or is it even possible for me to get close to what I paid for it? does anyone have any suggestions on how to deal with the insurance agency on this??? I looked up the kelly blue book value and it was about 10,000. This even with the fact I only put about 9,000 miles on it. The car is a toyota and i bought it outright.
    any suggestions appreciated..
    "Can we read it on the Smoking Gun? "

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    Default Re: insurance totaled car?????

    Actually, a thousand dollars depreciation over 6 months of use is somewhat reasonable. Have your insurance company try to negotiate better payout though.

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    Featured Member FiendishGyrator's Avatar
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    Default Re: insurance totaled car?????

    Plus, try to work in them covering a rental car until you have a car to use.
    Ungoogle yourself:


    Also, now offering phone sexins!

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    Veteran Member MissDewdrop's Avatar
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    Default Re: insurance totaled car?????

    I dealt with the same thing a few years ago (I was rear ended and the guy's insurance declared my car totaled). Look up how your state requires insurance adjusters to calculate the car's value....my former state used the NACA guide and one other source. Luckily, the final payout was a few hundred higher than my car's payoff. When I got my new car, I purchased gap insurance, which will cover the difference between what you owe on the car and the settlement amount you receive. I'm sorry this happened. Do you by chance have gap insurance on this current vehicle?

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    Veteran Member stripperMBA's Avatar
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    Default Re: insurance totaled car?????

    No gap insurance as my car was paid off. I bought this car outright. would like to be able to buy another outright. I also really loved my toyota and miss it.
    "Can we read it on the Smoking Gun? "

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    Featured Member lemiwinks31's Avatar
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    Default Re: insurance totaled car?????

    Quote Originally Posted by stripperMBA View Post
    No gap insurance as my car was paid off. I bought this car outright. would like to be able to buy another outright. I also really loved my toyota and miss it.

    Send them a letter, and say you will settle for about $500 more, otherwise you will just go through your insurance company. They might not want to deal with it for just an $500. If they refuse, or counter, just take their offer. It sounds reasonable.

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    Default Re: insurance totaled car?????

    ^^^ agreed that, absent insurance company litigation, the best you're likely to get is a slightly 'sweetened' settlement offer. It certainly wouldn't hurt to send the 16 year old's insurance company a letter offering to settle for say $9,900.

    If you do go the litigation route, in the end you could wind up with an extra $1,000-$2,000 ... maybe ... depending on how your car can be valued and what sort of related 'expenses' ( like interim car rental ) can be successfully tacked on. However, this also means that you won't receive any money for months or potentially years with which to purchase another vehicle. This isn't a big deal if you happen to have an extra $10k sitting in the bank ... but could be significant if you don't and thus must take out an auto loan ( with associated costs eating into your increased cash award ).

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    Featured Member Laurisa's Avatar
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    Default Re: insurance totaled car?????

    Their offer seems reasonable to me.

    I would take it, and as stated before you can ask for an additional $500 to offset the costs at SOS if necessary. They probably won't fight with you over $500.
    If you are willing to do for one year what other's won't, you can spend a lifetime doing what other's cant.


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    Featured Member silk55's Avatar
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    Default Re: insurance totaled car?????

    I hope you got a lawyer for the pain and suffering? If not I would ASAP!
    "The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right. Greed works" -GORDON GECCO

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    Featured Member Laurisa's Avatar
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    Default Re: insurance totaled car?????

    She didn't mention any pain and suffering...

    If she's being reimbursed for the fair value of the car why should she drag the teenager and their parents into court to try and get money for "pain and suffering"?

    People are so lawsuit happy these days.
    If you are willing to do for one year what other's won't, you can spend a lifetime doing what other's cant.


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    Veteran Member stripperMBA's Avatar
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    Default Re: insurance totaled car?????

    Quote Originally Posted by lemiwinks31 View Post
    Send them a letter, and say you will settle for about $500 more, otherwise you will just go through your insurance company. They might not want to deal with it for just an $500. If they refuse, or counter, just take their offer. It sounds reasonable.
    Yes, this is what I am going to do. I just want to try to get the highest kelly blue book value on the car possible. Not going to sue anyone for pain and suffering because there was none. just feel like insurance has appraised my car a few hundred dollars too low. I am going to be talking to their total loss rep tommorow. so will post update then. thanks all!!
    Last edited by stripperMBA; 10-12-2011 at 08:56 PM. Reason: forgot to add something
    "Can we read it on the Smoking Gun? "

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    Default Re: insurance totaled car?????

    Quote Originally Posted by silk55 View Post
    I hope you got a lawyer for the pain and suffering? If not I would ASAP!

    NO!!!


    that is being part of the problem......not part of the solution.

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    Default Re: insurance totaled car?????

    First, were you hurt in the accident? If so, did you go to the Doc? Make sure you are completely fine. You are more important than your car.

    Second, look around at Edmunds, cars.com craig's list, some local dealers see what the retail is for a replacement car of similar mileage. Check the KBB price. Then shoot that to the insurance company. Flat out tell them you won't settle for less because you had a functional Toyota of so many miles and to replace it the cost is, whatever you find. Their insured is on the hook for that amount, not what some adjuster wants to squeeze out of you. If they meet your price or are close, then good to go. Remember a lawyer will cost you money and the insurance company is already close to your price.

    Finally, if you were hurt, the driver owes you big time. Get the best personal injury lawyer in your town to sue the driver till it hurts and then make it hurt some more. The only way bad drivers will ever be stopped is when their insurance rates are so high that the quit driving.

    Hope you're OK

    Z

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    Default Re: insurance totaled car?????

    She already said she wasn't hurt.......part of the problem with society. Everybody is lawsuit happy.

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    Featured Member silk55's Avatar
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    Default Re: insurance totaled car?????

    Quote Originally Posted by Laurisa View Post
    She didn't mention any pain and suffering...

    If she's being reimbursed for the fair value of the car why should she drag the teenager and their parents into court to try and get money for "pain and suffering"?

    People are so lawsuit happy these days.
    The lawyer would not drag the teenager or the parents through the courts (unless uninsured). He deals with the insurance company directly. That's not being lawyer crazy it's being smart. I suspect you have been with out a car for awhile and must have lost $$$ during that time? Shouldn't you be reimbursed for that lost time?
    "The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right. Greed works" -GORDON GECCO

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    Default Re: insurance totaled car?????

    You very clearly stated to get a lawyer for 'pain and suffering'. OP has stated nothing about lost wages or the minor inconvenience of finding a ride to get to work. Maybe the OP doesnt pay taxes and doesnt want to open the can of worms of attempting to prove wages lost? What little she might realize probably isn't worth the effort and the delayed settlement (delaying her getting her car) and what she would have to realize in order to compensate the legal fees involved. Oh wait....I'm not considering the $17.27 worth of gas she had in the tank. Maybe she really should sue???? :-(

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    Featured Member silk55's Avatar
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    Default Re: insurance totaled car?????

    to each his own
    "The point is, ladies and gentlemen, that greed, for lack of a better word, is good. Greed is right. Greed works" -GORDON GECCO

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    Veteran Member stripperMBA's Avatar
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    Thumbs up Re: insurance totaled car?????

    I live in a metro car ridden area. I sent the claims case handler ads for exact make and model cars to mine. showing that the price of cars in my area is higher than it might be in other areas of the U.S.A. They gave me about a thousand more. And I am happy with that as my goal was too get the actual blue book value. YEEEE!!!!!!!!!!!!
    "Can we read it on the Smoking Gun? "

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    Default Re: insurance totaled car?????

    Quote Originally Posted by strippermba View Post
    i live in a metro car ridden area. I sent the claims case handler ads for exact make and model cars to mine. Showing that the price of cars in my area is higher than it might be in other areas of the u.s.a. They gave me about a thousand more. And i am happy with that as my goal was too get the actual blue book value. Yeeee!!!!!!!!!!!!

    good job !!

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