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My car was hit by someone, and their insurance company has acknowledge that it was their fault. It looks like the car will be a total loss. When the insurance company makes the offer ($ replacement value), is there room for negotiating? Do they offer a blue book value or the actual replacement value, like if I was going to Carmax to buy a similar car/with similar mileage? How about the taxes that I'll have to pay and fees, that can be over $1500, not to mention having to register a replacement car? Anyone been through this? TIA.
There is some room. The more homework you do, the better you will be. Find several ads online for simular cas and print them. Look in the auto trader to see what they sell for locally as well.
It sucks but you will be out reguardless, thats just how it is. Its just a matter of minimizing your loss and replacing it.
My daughter was driving my jeep with her sister, 20 and 10. My daughter is on the insurance also. Some truck hit the car behind her, causing that car to hit my jeep, the car behind her was beautiful a small little car. This truck caused total loss to both vehicles. My daughters werent hurt my 10 year old was just shook up. The owner of the truck had Geico Insurance. My girls each got a check for the inconvenience of being in an accident. And they gotten their medical paid for too. I had them checked out. Since my jeep was considered a total loss. The insurance adjuster who you can tell didnt know a thing about vehicles said mine was a total loss. If I would of gave me jeep to them I would have gotten more money. I decided to keep my jeep and settle for the lesser amount. But that was ok. I was given more than I paid for it. I went and bought another jeep, and fixed the one that was in the accident.
My boyfriends daughter was in an accident a few weeks after that, someone hit her from behind. She was hurt. Her car was a total loss, the insurance company told her they were only going to pay $1000 for her medical and she had to pay the rest. And the gave her $600 for her car damages. The insurance was Farmers. She settled which I think was stupid. Now she is stuck paying the hospital bill that of course is way more than $1000.
Like someone said, this is all dependent on your coverage, the person who hit you's coverage and the state your are in. In general you should ask for everything under the sun. Replacement value for the same year, make and model covering all taxes and fees associated with the purchase as well as reimbursement for the inconvenience and time to shop for a car. You should also ask for replacement cost of any equipment that was added to the vehicle that was lost in the accident such as upgraded stereo, car seats that need to be replaced, etc.
This is outside of any claims you may have for medical. Generally they will also offer you some compensation simply for having been in the accident in exchange for your agreement not to sue.
Just as an FYI, if the car wasn't totalled many people overlook filing a claim for inherent diminished value. The other insurance company will fix the car, pay for a rental and people think that's it. You really should pursue compensation for the value the car has lost. Generally if you meet the following five criteria it should be worth pursuing:
1. The accident was not your fault.
2. The at fault party has insurance or you have uninsured motorist coverage.
3. Your vehicle is newer than a 2002 model vehicle.
4. The damage estimate was at least $2000.00.
5. Your car was not deemed a total loss.
If you meet the above 5 you need to ask the adjuster from the insurance company to include compensation for "inherent diminished value" in the estimate. If you don't ask, they won't do it. Essentially it works like this:
Your car is worth x. After the accident your car is worth x - y because it was in an accident even though it was professionally repaired. The insurance company needs to write you a check for "y" to make you whole.
My daughter was driving my jeep with her sister, 20 and 10. My daughter is on the insurance also. Some truck hit the car behind her, causing that car to hit my jeep, the car behind her was beautiful a small little car. This truck caused total loss to both vehicles. My daughters werent hurt my 10 year old was just shook up. The owner of the truck had Geico Insurance. My girls each got a check for the inconvenience of being in an accident. And they gotten their medical paid for too. I had them checked out. Since my jeep was considered a total loss. The insurance adjuster who you can tell didnt know a thing about vehicles said mine was a total loss. If I would of gave me jeep to them I would have gotten more money. I decided to keep my jeep and settle for the lesser amount. But that was ok. I was given more than I paid for it. I went and bought another jeep, and fixed the one that was in the accident.
My boyfriends daughter was in an accident a few weeks after that, someone hit her from behind. She was hurt. Her car was a total loss, the insurance company told her they were only going to pay $1000 for her medical and she had to pay the rest. And the gave her $600 for her car damages. The insurance was Farmers. She settled which I think was stupid. Now she is stuck paying the hospital bill that of course is way more than $1000.
It should be illegal to take advantage of people involved in accidents. What a crock.
Insurance companys know that most people NEED their cars repaired ASAP and do not have time to wait on a court to decide what is a fair price. With no lawyer they will do as they please and there is NOTHING you can do but take the money they offer which is about 99% of the time NOT ENOUGH to replace your car.... When you have an accident its best to always go to the ER to be checked even if you feel ok and then get a lawyer to run up a big bill for them any way you can. Then in the end you might break even...Its the game you have to play with these crooks.
Insurance companys know that most people NEED their cars repaired ASAP and do not have time to wait on a court to decide what is a fair price. With no lawyer they will do as they please and there is NOTHING you can do but take the money they offer which is about 99% of the time NOT ENOUGH to replace your car.... When you have an accident its best to always go to the ER to be checked even if you feel ok and then get a lawyer to run up a big bill for them any way you can. Then in the end you might break even...Its the game you have to play with these crooks.
Sad to say, this is true. Frequently you can get a better deal if you are not in a hurry to settle.
If your car was hit hard enough to total it, how do you know you were not injured? Are you a doctor with an MRI machine in your basement? You really should get checked, the bums will have to pay for it.
I would like to see a more strict liability system where at fault crashers are held accountable, but good luck getting that enacted. Bit off topic I know but there it is.
The truth is that they can wait and they have plenty of layers . The best you can do is to try to settle unless you don't need the money and want to wait years for a suit and eve then most come in the form of a settlement.Suing and actaully proveing it is two different things and the real winner is the lawyer. people ahve funny ideas about sueing now days and the success rate and now long it can take with appeals.
. You should also ask for replacement cost of any equipment that was added to the vehicle that was lost in the accident such as upgraded stereo, car seats that need to be replaced, etc.
In the past couple years our ins company, Farmers, has added a clause to say that anything that is not original to the car is NOT covered. I'm sure it CAN be for an added premium, we've not had a reason to check in to it.
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