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Is there any way to get more than book value for a car totaled in an accident?
A friend's perfectly maintained Honda with 280,000 miles was just totaled by a driver running a red light. The driver has insurance. The thing is, my friend doesn't have much money. It doesn't seem fair for him to get $2000 or so for the loss of great, reliable transportation. Anyone have experience with this situation or suggestions?
Your friend is pretty much screwed, with mileage that high, 2 grand will be luck. If your friend has receipts for recent maintenance it may help with the value some what.
Unfortunately, you'll never get much more than "fair market value" for any vehicle involved in an accident. What really stinks is when an awesome, reliable vehicle - that isn't worth much -gets destroyed. Your friend may spend a lot of money for a lesser car.
Location: We_tside PNW (Columbia Gorge) / CO / SA TX / Thailand
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Only possible to get more if you have recent receipts to justify a higher value.
I have a fleet of high mileage VW diesels, 3 have been totaled by other drivers. I have had to fight tooth and nail to get decent payouts. Tune up your letter writing and have justify able expenses.
It stinks... one day you have nice reliable transportation, the the next day you have NOTHING! and the insured expects YOU to do all the work to remedy your claim... get estimates, find a car, do paperwork
I have bought all mine back ($1 > $100) AND rebuilt them. (that is not FREE either, and a HUGE time sink)
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Car insurance only pays out full value if you total a new car as you drive off the dealer's lot.
Bluebook is rarely enough to buy the equivalent, unless you happen to need a transmission rebuild when it gets totaled.
There is an expensive replacement insurance available but nobody would pay the high price. Might as well buy a spare car. We lost a $40,000 Crossfire that was perfect and got $14,000 for it when someone t-boned it running a light. No, it's not fair but the blue book value is the only thing the insurance company has to go on. With 7,000,000 wrecks every year, there's no way to give personal service. Glad nobody was injured! Good luck
This is the reason you should always get a medical examination after a serious wreck. It gives you "leverage" when dealing with an insurance claim.You can then tell them that if they want to make a big deal about NOT giving you a fair payment to replace your car you can "make a big deal" about being 100% sure you absolutely have not received any kind of injury ,even an injury that may show up later..You may need expensive test,x rays etc and lots of them and they will have to pay for these.... Insurance companies act a little nicer when you have them on the hook with a medical claim. even a minor one.
Is there any way to get more than book value for a car totaled in an accident?
A friend's perfectly maintained Honda with 280,000 miles was just totaled by a driver running a red light. The driver has insurance. The thing is, my friend doesn't have much money. It doesn't seem fair for him to get $2000 or so for the loss of great, reliable transportation. Anyone have experience with this situation or suggestions?
Why not take the 2k and buy another Honda with less miles?
One thing about the accident is the insurance can pay the replacement value of the Honda, which doesn't sound like much, but might also pay an amount for medical ahead of any actual bills. It might be something to ask for to get another couple grand.
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