OT: Totalled Car

[Chin Diesel]

Question for the board.

After almost 25 years of driving cars, I finally got in an accident resulting in a totalled car.

Not my fault. Poor 17 yr old girl driving home with her brother after school. I'm not upset, surprised, angry or anything.

Accidents happen. That's why we all carry insurance.

Anywho, we both have the same insurance company and the whole claim in on their policy.

They offered me the actual cash value of the car, not a Kelley Blue/Black Book or NADA value. Amazingly enough the settlement they have offered is spot on for the trade-in value of my vehicle.

Question for Boneyarders is this. Is it normal to negotiate/haggle over the settlement offer? I am awaithing the 14 page document that goes item by item over the assessed value of my vehicle.

I don't feel like I got screwed. I am confident that I can get a vehicle that is within range of the model year, style and mileage of my vehicle. I'm not looking to screw the insurance company over, I just want to make sure I am taking full advantage of all the options I have.

 

[ZooCougar]

Glad you are ok.

 

[whaler11]

I spoke to my wife who is a hot shot in the insurance world of claim finance. She said try and you might have someone dumb enough to pay you more but unlikely.

 

[Perspective]

Sure, you could simple reject it and then sue them for whatever you think is the right price.

Insurance companies are corporations that make money. Obviously, they want to pay you as little as possible, but they are restricted by the well-known values of vehicles.

I recommend you review their detailed breakdown of your vehicle. If they ding the total price too much because they claim prior damage, poor condition, and so on, you absolutely can call them out.

But remember - in the end, if you don't want their offer, litigation is your only choice. So, if you're not a lawyer, or don't know one who will work for free, be nice, flag any dings that are incorrect, and ask for a few more bucks if you want.

But live life and have fun. Litigation SUCKS. Trust me. It's a real life-sapper.

 

[Fishy]

Be thankful they gave you $237 for the Pacer and just move on.

You can get a damned fine bike from WalMart for that - I think this is really gonna be good for you.

 

[Rico444]

Sure, you could simple reject it and then sue them for whatever you think is the right price.

Insurance companies are corporations that make money. Obviously, they want to pay you as little as possible, but they are restricted by the well-known values of vehicles.

I recommend you review their detailed breakdown of your vehicle. If they ding the total price too much because they claim prior damage, poor condition, and so on, you absolutely can call them out.

But remember - in the end, if you don't want their offer, litigation is your only choice. So, if you're not a lawyer, or don't know one who will work for free, be nice, flag any dings that are incorrect, and ask for a few more bucks if you want.

But live life and have fun. Litigation SUCKS. Trust me. It's a real life-sapper.

Better call Saul!

 

[temery]

The accident will cost you money whether it was your fault or not. Your only real option to be made whole, as was said by Perspective, is to go to court.

It's worth going to your agent and threatening to change agencies if they don't help, but it likely won't matter. I was in your position, and was told I should have had a better policy if I wanted to be 'fully' covered. One that would have cost me as much as I was out as a result of the accident.

My uncle owned the agency, and said the best policy if you plan to total your car every few years, isn't worth the money if it only happens once in your lifetime.

BTW - I went to court, and won (they settled). But I am a dumb, stubborn Irishman .

Question for the board.

After almost 25 years of driving cars, I finally got in an accident resulting in a totalled car.

Not my fault. Poor 17 yr old girl driving home with her brother after school. I'm not upset, surprised, angry or anything.

Accidents happen. That's why we all carry insurance.

Anywho, we both have the same insurance company and the whole claim in on their policy.

They offered me the actual cash value of the car, not a Kelley Blue/Black Book or NADA value. Amazingly enough the settlement they have offered is spot on for the trade-in value of my vehicle.

Question for Boneyarders is this. Is it normal to negotiate/haggle over the settlement offer? I am awaithing the 14 page document that goes item by item over the assessed value of my vehicle.

I don't feel like I got screwed. I am confident that I can get a vehicle that is within range of the model year, style and mileage of my vehicle. I'm not looking to screw the insurance company over, I just want to make sure I am taking full advantage of all the options I have.

 

[Hoophound]

Be thankful they gave you $237 for the Pacer and just move on.

You can get a damned fine bike from WalMart for that - I think this is really gonna be good for you.

After he pays the the $200 deductible he is only getting $37. Amazingly, he can still get a bike at Walmart with that kind of dough. Gotta love China.

 

[Chin Diesel]

The accident will cost you money whether it was your fault or not. Your only real option to be made whole, as was said by Perspective, is to go to court.

It's worth going to your agent and threatening to change agencies if they don't help, but it likely won't matter. I was in your position, and was told I should have had a better policy if I wanted to be 'fully' covered. One that would have cost me as much as I was out as a result of the accident.

My uncle owned the agency, and said the best policy if you plan to total your car every few years, isn't worth the money if it only happens once in your lifetime.

BTW - I went to court, and won (they settled). But I am a dumb, stubborn Irishman .

That's funny.

 

[Chin Diesel]

Thanks for the advice.

It's pretty much in line with what I was thinking (which is scary. My brain is now conditioned to view things as a group think consortium of Boneyarders. Actually that's very scary).

I'm downloading the line by line file to look for any glaring mistakes, otherwise we're taking the offer and moving on in life.

 

[Chin Diesel]

Be thankful they gave you $237 for the Pacer and just move on.

You can get a damned fine bike from WalMart for that - I think this is really gonna be good for you.

It was a Pacer. After getting rear ended it's now a Gremlin.

 

[CL82]

I'm late to the party on this, but didn't the company do exactly what you've been paying them to do - replace the value of your car. I'd do some car shopping for an equivalent car, while you are mulling things over just to be sure of your sense that the insurance payment will be sufficient. If it turns out that it isn't, an in hand price for a replacement vehicle is a pretty good argument.

 

[temery]

On a somewhat related note - I've coached high school tennis for 25 years. I cannot think of a year in which at least one of my players has not been in an accident. Most are fender benders. Some are far more serious. One died.

The stats for kids causing an accident in the first year or so of getting their license is frightening.

Thanks for the advice.

It's pretty much in line with what I was thinking (which is scary. My brain is now conditioned to view things as a group think consortium of Boneyarders. Actually that's very scary).

I'm downloading the line by line file to look for any glaring mistakes, otherwise we're taking the offer and moving on in life.

 

[temery]

I'm late to the party on this, but didn't the company do exactly what you've been paying them to do - replace the value of your car. I'd do some car shopping for an equivalent car, while you are mulling things over just to be sure of your sense that the insurance payment will be sufficient. If it turns out that it isn't, an in hand price for a replacement vehicle is a pretty good argument.

Trade in value is not the value of the car. It's what a dealer is willing to give you if you buy another car from them at their price.

If someone totals your car, it should cost you nothing to own a comparable car.

 

[CL82]

On a somewhat related note - I've coached high school tennis for 25 years. I cannot think of a year in which at least one of my players has not been in an accident. Most are fender benders. Some are far more serious. One died.

The stats for kids causing an accident in the first year or so of getting their license is frightening.

Thanks, Tom, thanks. My son just got his license....

 

[CL82]

Trade in value is not the value of the car. It's what a dealer is willing to give you if you buy another car from them at their price.

An having an actual quote of a replacement vehicle, makes this an easy point to make. JMO

 

[Chin Diesel]

On a somewhat related note - I've coached high school tennis for 25 years. I cannot think of a year in which at least one of my players has not been in an accident. Most are fender benders. Some are far more serious. One died.

The stats for kids causing an accident in the first year or so of getting their license is frightening.

Coincidentally, she was a softball player and was only driving home at that time because practice got cancelled due to weather.

Her brother was the passenger and was supposed to go for his license yesterday. He wisely told his parents he needs some more time to think it over.

 

[temery]

Thanks, Tom, thanks. My son just got his license....

Quote the stats to him every time you give him the keys.

 

[Chin Diesel]

I'm late to the party on this, but didn't the company do exactly what you've been paying them to do - replace the value of your car. I'd do some car shopping for an equivalent car, while you are mulling things over just to be sure of your sense that the insurance payment will be sufficient. If it turns out that it isn't, an in hand price for a replacement vehicle is a pretty good argument.

The part that seemed a bit off is that the settlement price was much closer to what I'd get for trading in the car than it was for what dealers list comparable vehicles.

I couldn't walk in to a dealership with the settlement amount and pay the dealer's listed price for a comparable vehicle. With normal negotiations, I will be able to make it work.

One week to make the decision.

 

[sanchez42885]

I worked in auto claims for a few years. I would say if you have any questions on the value you can always ask the insurance company for another source. When claimants used to challenge the value we would average the NADA and Redbook guides and compare it to what our valuation estimate was. Sometimes ours was higher, sometimes the guides were higher. Other than that there won't be much negotiations unless they are missing options on your car

 

[temery]

Coincidentally, she was a softball player and was only driving home at that time because practice got cancelled due to weather.

Her brother was the passenger and was supposed to go for his license yesterday. He wisely told his parents he needs some more time to think it over.

The high school in which I coach had five kids killed in two years. Both cars hit the same tree in Hampden, Massachusetts.

Both accidents happened as the students left school at the end of the day.

The second one had the off duty police chief seeing the accident, and calling it in. None of the bodies could be identified on scene, but he was able to recognize the socks he had given his daughter for Christmas. It was his daughter. I cannot imagine anything worse.

To this day I do not penalize a player for being late to practice. I coach in a suburban/rural area. I don't want them rushing home in order to get to practice on time.

 

[CL82]

The part that seemed a bit off is that the settlement price was much closer to what I'd get for trading in the car than it was for what dealers list comparable vehicles.

I couldn't walk in to a dealership with the settlement amount and pay the dealer's listed price for a comparable vehicle. With normal negotiations, I will be able to make it work.

One week to make the decision.

I missed that in the intial read through. Let me relate my experience dealing with a insurance company on a total.

My first new car was totalled when a tractor trailer ran me off the road on 95. I think that he didn't see me and came over into my lane as I was passing him. As I hit the wet grass, it was like I was on ice, I had very little control, so I tried to keep the vehicle as straight as I could. Now this was pre-jersey barrier so the road was divided with those metal railings. My car, an econo box, road up the support medal column and took me into the air, like a Dukes of Hazard episode and I came down into oncomig traffic on the other side of the highway. I'm thankful that the other drivers we're alert and they avoided me. The railing sheered off the oil pan bent the uni-body. The car was totalled.

The insurance company told me that the my car had lost just under a third of its value the moment the wheels left the dealership parking lot and that was all that they were required to give me. My counter argument was that no 2 week old replacement vehicle could be purchased for that price and therefore their value was wrong. I told them if they disagreed find me a replacement vehicle at that price. They couldn't, of course and eventually relented and gave me the full value. I think I ended up coming out $27 and change ahead after I bought the replacement vehicle. (The car was back ordered at that time, but it is amazing how putting the purchase price, in cash, on the desk can move you to the front of the line.)

So, I think if you go out and get a quote for the same make and model and year (or close with adjustments), you can pump up the value of your offer. If they think the value is too high, let them find a comp. By the way, I'd give them the price before I negotiated with the dealer.

 

[alexd]

A lot of states are getting tough on teen driving. Until 1/1/13, in CT, if you waited until you turned 18, you were not requied to take the mandatory driving classes and driving time that goes with it. That's not the case anymore. They found a lot of older high school seniors were just waiting in order to make it easier to get their license.

Chin - I'm not sure what state you live in, but in CT, once the kid gets their license they can only drive with parents/guardian for the first 2ix months, then for the second six months, they can have relatives/siblings in the car as long as parents/guardian are with them. This has to be the law thats broken the most. I see tons of young high school kids cruising around with friends in the car.

 

[temery]

I don't like the sibling exception.

I have front door bus duty - morning drop off. A fair number of the middle school students are dropped by a sibling for our 7:30 am start of the day. High school begins at 7:30 am as well.

It doesn't take a rocket scientist to figure out how they get to the high school on time. The same goes for soccer practice, etc.

Teen drivers should be alone, or have a responsible adult in the passenger seat. I can't think of any exception.

In fact, I can think of no local auto accident death which has occurred with a teen at the wheel, and an adult in the passenger seat.

A lot of states are getting tough on teen driving. Until 1/1/13, in CT, if you waited until you turned 18, you were not requied to take the mandatory driving classes and driving time that goes with it. That's not the case anymore. They found a lot of older high school seniors were just waiting in order to make it easier to get their license.

Chin - I'm not sure what state you live in, but in CT, once the kid gets their license they can only drive with parents/guardian for the first 2ix months, then for the second six months, they can have relatives/siblings in the car as long as parents/guardian are with them. This has to be the law thats broken the most. I see tons of young high school kids cruising around with friends in the car.

 

[Chin Diesel]

A lot of states are getting tough on teen driving. Until 1/1/13, in CT, if you waited until you turned 18, you were not requied to take the mandatory driving classes and driving time that goes with it. That's not the case anymore. They found a lot of older high school seniors were just waiting in order to make it easier to get their license.

Chin - I'm not sure what state you live in, but in CT, once the kid gets their license they can only drive with parents/guardian for the first 2ix months, then for the second six months, they can have relatives/siblings in the car as long as parents/guardian are with them. This has to be the law thats broken the most. I see tons of young high school kids cruising around with friends in the car.

I'm in Florida and it appears as if she was completely legal- being that the state trooper only gave her a ticket for failing to leave enough room. Just her and her brother going from school to home around 4pm. From talking to her parents, she's had a license for about a year.

And oddly enough, March and April are two of the worst months for driving in the Florida panhandle around beach communities. Snow birds are packing up their SUV's, 5th Wheels and Motorhomes and college spring breakers are coming down for a week at a time. Meaning lots of motorists not familiar with the area and everything from normal commuters, to scooters to Class A Motorhomes sharing the same roads.