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Old 11-25-2014, 05:42 AM
 
55 posts, read 95,474 times
Reputation: 49

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I totaled my Nissan Altima 2006 2.5S (i was at fault) in a collision last week. I have Nationwide insurance. The front part of the car went inside and the driver's air bag was deployed. Insurance guy called me and is offering 5.5k for the total car (car had 70k miles and very good condition).
Can someone help me with the following:

My rental car is being paid for by insurance (max is 30 days but they said the longer i keep it, more it will raise my premium), If I counter their offer and they dont budge or we dont agree on a price, do I have to accept what they are giving me or do I have any choice? If it goes on for more than 30 days, will I have to pay for the rental car out of pocket?

How long do the insurance companies have to settle the claim?
Do they let you keep the rental car longer if you need a few days to buy another car?

thanks a lot for your help.
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Old 11-25-2014, 07:35 AM
 
2,600 posts, read 5,464,552 times
Reputation: 2387
Go to edmunds and see what the true valve of your vehicle is first since you will be the only one that can add any features that we don't know about !!

Once you have this value you can try and negotiate with them if its higher !!!

Used Cars: For Sale, Appraisals & Certified Pre-Owned | Edmunds.com

2-years to settle a claim in most states.

The rental car terms will be listed on your policy, but they wont give you 30-days to find a car, the 30-days would work if the car was being repaired and they needed the full 30-days.
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Old 11-25-2014, 07:46 AM
 
671 posts, read 619,060 times
Reputation: 1243
You are entitled to a fair replacement value..Minus deductibles if they apply. As need4 said Edmunds "fill in the variables" will give you a fair value...You can argue from that point...
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Old 11-25-2014, 07:56 AM
 
7,146 posts, read 3,722,197 times
Reputation: 10115
If you want to contest their offer you will have to do more than just complain it's not enough. You'll need to justify a higher value. First step would be to ask for the detailed settlement calculations showing how they arrived at their number, i.e. what comps they used, what mileage and condition adjustments were made, etc. Their comps should be recently sold or currently for sale vehicles in your area.
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Old 11-25-2014, 08:29 AM
 
Location: Apple Valley Calif
7,475 posts, read 19,585,487 times
Reputation: 5580
If as you say the accident was your fault and you're dealing with your insurance company, you don't have much leverage to deal. If you were dealing with the other parties company and they were at fault, you have a lot of leverage.
Take the money and run...
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