Any guesses on whether or not my car might get totaled? Any experts out here?

[Miffy]

Another question worht asking regarding the convertible minus the top: How much would they pay as the insurance settlement and also let you keep the car itself as-is?

(You would not be able to put collision or comprehensive insurance on the car any more.)

In an earlier lifetime I was given the choice of turning in a car for a $700. settlement or keeping the car for a $500. settlement. The car was perfectly drivable so I chose to keep it and it lasted for another two years with no needed repairs from the collision.

Well, the car would've been useless to us without the top. We're in NYC and we'd hardly be able to drive around without a roof. At any rate, the roof was replaced, the insurance paid for almost all of it--the deductible was $500--and everything's fine now. I'm counting on evil lightning not striking twice!

 

[Miffy]

Strange coincidence. My step daughters van was parked in her driveway and she came out to a busted back window. They live on a quiet cul de sac and really not likely someone was trying to steal anything. Strange.

That is a strange coincidence. DH and I surmise that someone accidentally bashed into the back window, perhaps they were moving a large object, and they, uh, fled the scene, so to speak.

 

[kymom99]

That is a strange coincidence. DH and I surmise that someone accidentally bashed into the back window, perhaps they were moving a large object, and they, uh, fled the scene, so to speak.

Yes I could see that happening on a street. I spent most of a week at my step daughters house watching her kids a few weeks back. There were no kids out playing the whole time I was there. We still have no earthly idea how that window was broken. There was glass all over the back seat of the van. There were scooters in the back but they were not taken.

 

[Miffy]

Yes I could see that happening on a street. I spent most of a week at my step daughters house watching her kids a few weeks back. There were no kids out playing the whole time I was there. We still have no earthly idea how that window was broken. There was glass all over the back seat of the van. There were scooters in the back but they were not taken.

That is really odd. Our story is odd too, since who knows how long the window was broken--the entire thing was gone--and our car was sitting on a residential city street in the Bronx, yet no one--including whoever broke the window (assuming it was a "whoever") took anything from the car. Although we don't know how long the window'd been broken before DH discovered it in the morning.

And . . . OP, sorry to hijack this thread! I hope your insurance claim turns out as you want it to.

 

[BridgetBordeaux]

Not because of an accident--in fact we don't know the cause--but the back window of our Fiat cabrio was destroyed last year. We had the car parked on the street overnight and the next morning found the damage. We thought perhaps it was an attempted robbery, but nothing at all in the car had been taken, and there was quite a bit of stuff in the trunk.

We were more than a little surprised to find out that replacing the window meant replacing the entire roof since the rear window of the cabrio is encased in the cloth roof. Cost? $5K. Our insurance covered it, minus the deductible. I think the book value of our car at the time was maybe $8K at most. I guess the $5K falls below the 75% threshold, but now, a year later, the book value of our car is probably $6K, and DH and I are not too amused by the thought of this happening again. Especially since the rest of the car is in near-perfect condition. We toyed with the idea of trading it in for a Fiat hardtop and shopped around a bit but couldn't find one we liked half as much as our cabrio.

Not trying to be mean, but when you get rid of the Fiat, buy some other brand next time around. They may be cute, but they are not good cars.

 

[Music City Mama]

This is a timely thread for me. I was in a pretty bad accident last week (other guy fell asleep at the wheel). I was driving a 2.5 year old Honda CR-V and am still paying on the loan, but fortunately, the car (per KBB and NADA is worth quite a bit more than I owe on it) -- it was in pristine condition and I'm super bummed that I'll have to start from scratch on a new loan (I hold onto cars forever).

I'm not for sure if my car will be totaled -- I'm told it probably will from numerous sources because the airbags deployed and there appears to be frame damage (from my untrained eye).

I had to initially get my insurance involved because I had no info on the other party until I got the police report several days later and my insurance got me in the rental car. I now have a claim number with the other party's insurance, but haven't heard officially about whether my car will be totaled or not so I dare not buy a new vehicle until I hear back. I have test driven and will probably get another Honda CR-V, but I'm worried they're going to low ball me despite the KBB and NADA (and current comps) values -- I will need them to add tax/tags to that amount too. They're extremely lucky that I have no injuries, so really hoping they do what's right.

 

[BridgetBordeaux]

This is a timely thread for me. I was in a pretty bad accident last week (other guy fell asleep at the wheel). I was driving a 2.5 year old Honda CR-V and am still paying on the loan, but fortunately, the car (per KBB and NADA is worth quite a bit more than I owe on it) -- it was in pristine condition and I'm super bummed that I'll have to start from scratch on a new loan (I hold onto cars forever).

I'm not for sure if my car will be totaled -- I'm told it probably will from numerous sources because the airbags deployed and there appears to be frame damage (from my untrained eye).

I had to initially get my insurance involved because I had no info on the other party until I got the police report several days later and my insurance got me in the rental car. I now have a claim number with the other party's insurance, but haven't heard officially about whether my car will be totaled or not so I dare not buy a new vehicle until I hear back. I have test driven and will probably get another Honda CR-V, but I'm worried they're going to low ball me despite the KBB and NADA (and current comps) values -- I will need them to add tax/tags to that amount too. They're extremely lucky that I have no injuries, so really hoping they do what's right.

I am glad you are not injured. Those airbags may have saved your life.
Be prepared for the worst case scenario.
I know it feels pretty deflating to have to not only be upset, scared, and inconvenienced.....but you may have to chip in a couple thousand dollars to at least break even on the replacement transaction.
Be patient and take it one step at a time.
Good luck on your journey. You did not ask to take it.

 

[Klayfish]

This is a timely thread for me. I was in a pretty bad accident last week (other guy fell asleep at the wheel). I was driving a 2.5 year old Honda CR-V and am still paying on the loan, but fortunately, the car (per KBB and NADA is worth quite a bit more than I owe on it) -- it was in pristine condition and I'm super bummed that I'll have to start from scratch on a new loan (I hold onto cars forever).

I'm not for sure if my car will be totaled -- I'm told it probably will from numerous sources because the airbags deployed and there appears to be frame damage (from my untrained eye).

I had to initially get my insurance involved because I had no info on the other party until I got the police report several days later and my insurance got me in the rental car. I now have a claim number with the other party's insurance, but haven't heard officially about whether my car will be totaled or not so I dare not buy a new vehicle until I hear back. I have test driven and will probably get another Honda CR-V, but I'm worried they're going to low ball me despite the KBB and NADA (and current comps) values -- I will need them to add tax/tags to that amount too. They're extremely lucky that I have no injuries, so really hoping they do what's right.

This is what I do for a living (I hadn't seen this thread earlier), so let me know if you have any questions at all. A few thoughts from what you wrote. It may be a bit of a technicality, but cars don't have "frames" anymore, they're called a unibody. People use the two terms interchangeably, but the only thing with an actual "frame" is full size pick up trucks and SUVs like the Suburban. Unibody vehicles sustain damage differently (and safer) and repairing them isn't really a big deal. However, if you have bag deployment and a lot of unibody damage then it may be a total. If you've got a picture, post it and I can give you my opinion...I've had my appraiser license for more than two decades now.

The insurance company is highly unlikely to use KBB. That's a book by dealers for dealers. It's horrible. They may use NADA but that also doesn't tend to be as accurate. What they'll likely use is a company called CCC, that's what most carriers use. It should include taxes and registration. Don't get hung up on what you think it should be worth (not implying you are, just giving advice), and be realistic at what the market supports. The CCC report should have local comparables to help support the value.

Good luck!!

Oh, and the 75% thing is just a guideline. Some states have a % where they want a car to be totaled, but there is some flexibility there. There is also flexibility to total a car for less. I have totaled cars at 50%.

 

[tvguy]

The insurance company is highly unlikely to use KBB. That's a book by dealers for dealers. It's horrible. They may use NADA but that also doesn't tend to be as accurate. What they'll likely use is a company called CCC, that's what most carriers use. It should include taxes and registration. Don't get hung up on what you think it should be worth (not implying you are, just giving advice), and be realistic at what the market supports. The CCC report should have local comparables to help support the value.
Oh, and the 75% thing is just a guideline. Some states have a % where they want a car to be totaled, but there is some flexibility there. There is also flexibility to total a car for less. I have totaled cars at 50%.

My former neighbor worked for Aetna/Travelers and I never knew what the guide was they used, but he said they never used KBB, which is what dealers use here and they advertise used car prices noting KBB value.. NADA just isn't used that I am aware of by anyone.
There are whole bunch of videos on YouTube of people buying "totaled" Tesla's that had really minor damage. I think the issue there is there are few places that can fix Teslas, and parts can take a year or more I suspect an insurance company might be inclined to total a Tesla, not because of the damage, but because what rental car coverage would cost them while a car is in the shop for a year!

 

[mamapenguin]

I could see them not paying to cover a prior loan was rolled in, but how can bad credit impact the value of a new car that was just 2 weeks old? It certainly would raise the interest rate on the loan, but it shouldn't make a $2,000 down payment and an additional $2,000 vaporize.
May be moot now if you believe all the ads for Auto Insurance companies now saying they pay for full replacement cost for the first year you own your car.

Unfortunately some cars can depreciate $4,000 or more just by buying them and driving off the lot. They sell gap insurance for that.

 

[Music City Mama]

I am glad you are not injured. Those airbags may have saved your life.
Be prepared for the worst case scenario.
I know it feels pretty deflating to have to not only be upset, scared, and inconvenienced.....but you may have to chip in a couple thousand dollars to at least break even on the replacement transaction.
Be patient and take it one step at a time.
Good luck on your journey. You did not ask to take it.

Thank you for your kind words.

This is what I do for a living (I hadn't seen this thread earlier), so let me know if you have any questions at all. A few thoughts from what you wrote. It may be a bit of a technicality, but cars don't have "frames" anymore, they're called a unibody. People use the two terms interchangeably, but the only thing with an actual "frame" is full size pick up trucks and SUVs like the Suburban. Unibody vehicles sustain damage differently (and safer) and repairing them isn't really a big deal. However, if you have bag deployment and a lot of unibody damage then it may be a total. If you've got a picture, post it and I can give you my opinion...I've had my appraiser license for more than two decades now.

The insurance company is highly unlikely to use KBB. That's a book by dealers for dealers. It's horrible. They may use NADA but that also doesn't tend to be as accurate. What they'll likely use is a company called CCC, that's what most carriers use. It should include taxes and registration. Don't get hung up on what you think it should be worth (not implying you are, just giving advice), and be realistic at what the market supports. The CCC report should have local comparables to help support the value.

Good luck!!

Oh, and the 75% thing is just a guideline. Some states have a % where they want a car to be totaled, but there is some flexibility there. There is also flexibility to total a car for less. I have totaled cars at 50%.

Thanks, @Klayfish!

I just got off the phone with the other insurance company. They were very nice, said they were assuming liability for their insured, but said since I started the process with my insurance as far as the rental car and because my insurance company removed the car from where it was towed to their inspection lot, that I would have to finish the claim through my insurance company and it would go through subrogation. Does that sound right to you, @Klayfish? I only started the claim through my insurance because I had zero info on the other party until I got the police report several days later -- didn't even know for sure if they had valid insurance.

Anyhow, called my insurance company and they said the car was totaled. The value they gave me I can live with. Ideally, I was hoping for about $800 more but it was within the range that I expected to receive. It will pay off my loan and still have several thousand for a down payment. Those Hondas really DO hold their value! The bad thing is that I will have to start from scratch on a new loan. Also, since they've now called it a total loss, I can only have 7 more days with the rental car.

One more question, @Klayfish... My insurance will be reducing my payment by my deductible ($500), but I'm thinking they should recoup that during subrogation, correct? Also, the 20% I'm paying on the rental car should be recouped?

 

[tvguy]

Unfortunately some cars can depreciate $4,000 or more just by buying them and driving off the lot. They sell gap insurance for that.

Like I said may be moot now since.....at least in their commercials......major insurance companies say they will pay full replacement cost for a year after you buy a car. This was a few years back, and it was a brand new $9,000 Hyundai. No way in the world a car can lose half it's value in 2 weeks.

 

[Klayfish]

Thank you for your kind words.



Thanks, @Klayfish!

I just got off the phone with the other insurance company. They were very nice, said they were assuming liability for their insured, but said since I started the process with my insurance as far as the rental car and because my insurance company removed the car from where it was towed to their inspection lot, that I would have to finish the claim through my insurance company and it would go through subrogation. Does that sound right to you, @Klayfish? I only started the claim through my insurance because I had zero info on the other party until I got the police report several days later -- didn't even know for sure if they had valid insurance.

Anyhow, called my insurance company and they said the car was totaled. The value they gave me I can live with. Ideally, I was hoping for about $800 more but it was within the range that I expected to receive. It will pay off my loan and still have several thousand for a down payment. Those Hondas really DO hold their value! The bad thing is that I will have to start from scratch on a new loan. Also, since they've now called it a total loss, I can only have 7 more days with the rental car.

One more question, @Klayfish... My insurance will be reducing my payment by my deductible ($500), but I'm thinking they should recoup that during subrogation, correct? Also, the 20% I'm paying on the rental car should be recouped?

Yes, that process sounds right. Since you already started the process with your own carrier, it's best to let them handle it to the end. You will recoup your deductible when your carrier sends the at fault carrier the subrogation packet. Make sure to give your carrier the "bill" for the 20% of rental you will have to pay (based on that, I'm guessing you have State Farm) and they will include it in the subrogation demand.

My former neighbor worked for Aetna/Travelers and I never knew what the guide was they used, but he said they never used KBB, which is what dealers use here and they advertise used car prices noting KBB value.. NADA just isn't used that I am aware of by anyone.
There are whole bunch of videos on YouTube of people buying "totaled" Tesla's that had really minor damage. I think the issue there is there are few places that can fix Teslas, and parts can take a year or more I suspect an insurance company might be inclined to total a Tesla, not because of the damage, but because what rental car coverage would cost them while a car is in the shop for a year!

NADA is used by some insurance carriers because it is an approved method by many states. Like I said, KBB is a dealer tool to get more money from you.

It's not the delay in parts that is the issue with Teslas, though that is a challenge. I won't go too far down the rabbit hole, because I know there are a few owners here, but they're just a mess from start to finish. Tesla is also insanely particular from what I understand about giving parts to people who buy totaled cars, so it creates a salvage value problem too. Thankfully I don't see them come up often, but they're definitely a every time they do. Those....and German cars.

 

[SL6827]

Body shop said very doubtful it will be totaled!!!!!!!!!!!!!!!!

 

[Klayfish]

Do you have a picture?

 

[Music City Mama]

Yes, that process sounds right. Since you already started the process with your own carrier, it's best to let them handle it to the end. You will recoup your deductible when your carrier sends the at fault carrier the subrogation packet. Make sure to give your carrier the "bill" for the 20% of rental you will have to pay (based on that, I'm guessing you have State Farm) and they will include it in the subrogation demand.

Yes, you're right, I have State Farm -- you know your insurance . They told me today that they won't recoup expenses I paid for personally on my behalf in the subrogation packet. They'll recoup the deductible, but not the 20% of the rental car, I will have to recoup that directly from the other carrier.

Body shop said very doubtful it will be totaled!!!!!!!!!!!!!!!!

That's great news!

 

[Simba's Mom]

Adjuster with 20+years experience

1.They will usually total out a car if the damage is at 75% because once they start repairing the vehicle, if they find hidden damage, it will probably exceed that threshold.

Boy, sure do wish we'd had you as our adjuster! There was more than 75% damage (about 85%) and as you predict, yes, they found hidden damage when they started repairing it. So the repairs ended up costing more than the car's value. The big problem came when DH tried to sell it. He kept reliving the accident whenever he got into the vehicle, so he wanted to sell it. Turns out it was hard to sell because of the extent of damage from the accident, even though authorized manufacturer's parts were used, etc, Pray for totalling!

 

[BridgetBordeaux]

OP......Any updates?