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06-23-2015, 10:08 PM | Topic Starter |
The Maintenance Guy
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Question about auto insurance
Last night my son got into a car accident, and while thankfully no one was hurt, I am fairly certain his car is going to be totaled. He is at fault, but he did have collision insurance, and an adjuster is supposed to contact him tomorrow. We know he's going to lowball him, but we're trying to figure out what a reasonable settlement for the car should be.
His car Also, when someone else is at fault you can get the sales tax value from the other driver's insurance company, but is it reasonable to expect it from your own when you're at fault? I don't have much experience with wrecking cars so any input would be appreciated. |
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06-23-2015, 10:52 PM | #2 |
Banned
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The problem is that nobody knows. What "I" know is that son at fault=he is getting hosed. For a long time.
Last edited by eDave; 06-23-2015 at 11:46 PM.. |
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06-23-2015, 11:39 PM | #3 |
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I would look at bluebook, edmunds and every site you can to look up the value. Be honest when the websites ask you the car condition. When they offer you a settlement, in most cases you have the right to accept or counter offer. If you counteroffer, thats when you need your ammo. Which insurance are you with?
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06-23-2015, 11:45 PM | #4 |
Mahomes Dynasty
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state farm goes off of nada value
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06-24-2015, 06:19 AM | #5 |
The Maintenance Guy
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06-24-2015, 08:18 AM | #6 |
Mahomes Dynasty
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06-24-2015, 03:24 AM | #7 |
Shaken. Not stirred.
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VARSITY
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kind of surprised it wasn't shared fault. Technically both cars were trying to beat the red light while it was yellow.
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06-24-2015, 06:21 AM | #8 |
The Maintenance Guy
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06-24-2015, 05:31 AM | #9 |
It's Five O'Clock Somewhere
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Go to auto trader and see what similar cars are going for in your region so when he tires to low ball you, you have that information. http://www.autotrader.com/
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06-24-2015, 06:27 AM | #10 | |
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Quote:
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06-24-2015, 06:41 AM | #11 |
Quit your bullshit
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I wouldn't be so worried about getting low-balled just yet. Often times, it costs more for them to have to haggle over a few hundred bucks than it does to simply pay up. They will base it off the retail price of the car because they owe the price to replace it.
They're also going to offer you the opportunity to purchase the vehicle back from them at the salvage price. Depending on the amount and type of damage, this can be a great deal for you. If it's driveable, you can probably sell it for more than the salvage value. I had my grandmother buy hers back for $400, and she sold it to a college kid for $2,000 who was thrilled to find a perfectly working car for that price even though the back passenger door was smashed up. I'm actually going to take my wife's car in for an estimate today because some chick backed into her.
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06-24-2015, 06:44 AM | #12 |
The Maintenance Guy
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It's not drivable
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06-24-2015, 06:57 AM | #13 |
It's Five O'Clock Somewhere
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Yeah I don't think that's going to buff out.
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06-24-2015, 07:04 AM | #14 |
Wasted away again...
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Pffft...
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06-24-2015, 07:11 AM | #15 |
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I totaled my vehicle about a year ago and went through this. As others have said, get all the information you can on the cost of comparable cars...get as close to you can to the same equipment packages and mileage.
Second, don't accept their first estimate. The low-balled me by almost $3k at first. I had to go over the equipment/feature packages LINE-BY-LINE with them and made sure they recalculated. I got a lot of, "Oh, it has that? I didn't know that was available" b.s. In the end, I ended up paying $50 out of pocket. |
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