DD17 totaled 2005 Grand Am

[espana94]

DD was in a bad crash yesterday afternoon...She's fine, no injuries, just a bit shook up.

Got the call from the insurance adjuster this morning. They are totaling the car. I'm not surprised at this, at all. The car is pretty beat up. Someone from the loss department will be calling me to discuss the claim settlement in the next day or two.

Does anyone have experience negotiating a loss claim with their auto insurance company? What should I be prepared to discuss with them when they call? Any tips on getting the best payout possible?

TIA! Espana

 

[cvjw]

Was your DD at fault in the accident? Was anyone hurt? I could offer some tips if either of those are the case.

 

[espana94]

DD was ticket for improper lane usage. She was changing lanes and a speeding car (75 -- 80 mph in a 55 zone) came up from behind and hit her car. Her car spun out and his flipped on its side. Miraculously, no one was injured. Both walked away from the crash.

 

[griergirl2]

We have unfortunately totaled three cars in the last 4 years. From our experience there wasn't much of any negotiating on the payout. They use a lot of data to come up with their number. It was pretty much a here is what you get deal. We have geico. Each time the guy came out and looked at the car, declared it totaled, ran the numbers, and gave us a check right then and there. Got yo love their efficiency and customer service!

 

[supersnoop]

Go online to cars.com or carmax and see how much it will cost to purchase the same car in the same condition with the same mileage. That's what you're entitled to in order to "make you whole."

 

[espana94]

We have unfortunately totaled three cars in the last 4 years. From our experience there wasn't much of any negotiating on the payout. They use a lot of data to come up with their number. It was pretty much a here is what you get deal. We have geico. Each time the guy came out and looked at the car, declared it totaled, ran the numbers, and gave us a check right then and there. Got yo love their efficiency and customer service!

How bad did it hurt your insurance rates? DD had a minor fender bender in October and now this...I'm worried Country is going to cancel our policy.

 

[pkelly6]

DD 20 totaled a 1999 Buick a couple months ago. She was at fault (failed to yield to a yellow light and oncoming car broadsided her). Our insurance took local market into consideration for the replacement. They also added tax and title (didn't realized they would do this). We were prepared with newspaper ads and local online ads incase they gave a low offer; they weren't needed. The insurance paid out almost $4k. I don't know what they were looking at, but we were happy to take it. Before it was declared a loss, the insurance went up about 20% on that car, and did not affect our rates on our other vehicles. We have State Farm.

 

[cvjw]

Since your DD was ticketed at the scene, it was probably deemed her fault. Do you have enough liability coverage to cover the other person's flipped car and their injuries and pain and suffering if they choose to sue you? In GA, they can sue you for up to 2 years after the accident.

My DS was in a crash when he was 16. The other person was at fault, but he promptly hired an attorney, tried to get fault for the accident switched, and sue us for all his medical bills and pain and suffering.

Hoping this doesn't happen to your DD, but just be aware that there are some people out there that see a teenage driver and think their ship has just come in.

Probably not a bad idea to talk with your insurance agent about what could happen if you do get sued.

 

[tvguy]

Go online to cars.com or carmax and see how much it will cost to purchase the same car in the same condition with the same mileage. That's what you're entitled to in order to "make you whole."

That will just frustrate you. You are entitled to ACV (actual cash value) not retail. So, using KBB, low blue book is $2,658 and high blue book is $3,415. That, of course before they subtract your deductible. And that, of course is assuming you have collision, which really you shouldn't have on a car worth less than $4-5,000. I would expect them to pay about $2,000 ACV before your deductible.

 

[jedijill]

Make sure that they take into account all options on the car and any recent maintenance like new tires, new brakes, etc. They will adjust their offer for those things....they will not pay you for unused fuel (My Jeep was totaled about 15 minutes after I filled up with gas at $3.90/gal)

Jill in CO

 

[Sunnywho]

Our 2002 minivan was totaled last year. I negotiated them up $1000 from what they initially offered. I emailed them a list of six minivans for sale locally that were similar to mine and had higher asking prices than what their offer assumed.

 

[pkelly6]

And that, of course is assuming you have collision, which really you shouldn't have on a car worth less than $4-5,000.

I'm curious... why do you say this? For us, there wouldn't have been a significant change in our premiums had we dropped this from DD's car. Given that all our kids are young, inexperienced drivers, we were very glad to have it when DD's accident happened.

 

[ruadisneyfan2]

DD was in a bad crash yesterday afternoon...She's fine, no injuries, just a bit shook up.

Got the call from the insurance adjuster this morning. They are totaling the car. I'm not surprised at this, at all. The car is pretty beat up. Someone from the loss department will be calling me to discuss the claim settlement in the next day or two.

Does anyone have experience negotiating a loss claim with their auto insurance company? What should I be prepared to discuss with them when they call? Any tips on getting the best payout possible?

TIA! Espana

First, I'm glad your dd has no injuries but I am curious, was the other driver ticketed for speeding?

 

[griergirl2]

Only this most recent one effected our rates at all. The first one was me crashing while rushing to the hospital, the second was my husband stopped at a light and hit from behind and pushed into the car in front of him, and the third was during the last blizzard when my husband lost control in the snow and hit a light pole. He only got a ticket for the last one for driving too fast for conditions. We pay every 6 months and our six month premium went up about $100, which for us was a total 25% increase over our previous total rate. We carry full insurance on both cars with fabulous coverage.

 

[Sadie22]

I'm glad there was only property damage. You certainly can negotiate for more money toward a replacement vehicle. You may not get it, but finding proof that other vehicles are for sale for and have recently sold for XX prices greater than the insurance company's initial offer can only help. You do not have to accept their first offer unless there is some documentation that you agreed to that states you will. If the other driver was found to be speeding, you might argue that part of the fault should be apportioned to that individual. In that case your insurance company might go after the other driver's insurance to recover some of the loss. They may do this anyway but they probably will not tell you.

 

[Saimaeve]

I totaled a 2003 Taurus around July 2013. (I was not at fault, a 15 year old driver slammed into me going a high speed) They paid me around 4.5k I think for my car. They also paid my deductible for me and extra rental coverage. (And replaced my daughter's car seat)

It didn't affect my rates, but I was told it wouldn't as I was not held at fault and in South Dakota both parties could be held at fault. Since none of it was, my rates weren't affected.

 

[yoopermom]

When DS was a teen he totalled out a car, and we negotiated and got about another1K out of the insurance company. They made their offer, then I sent them a list of links to autotrader ads for the same car. Our case was a little trickier since he was driving a VW Bug in pickup truck country . I explained that comps would have to come from a further search radius because of this, and they were very willing to negotiate. We also had brand new tires on that I sent them a copy of the receipt for.

I hope that you are documenting EVERYTHING. Have your DD write everything down that she can recall about the accident, in as much detail as possible. Get your own copy of the police report. Don't agree to, or admit anything, over the phone. Get everything in writing. CYA really applies in these kinds of cases.

Nothing you can do about your rate going up, or your company dropping you unfortunately. There was a recent thread about umbrella policies, and this is exactly why we got one once DS became a teenage driver. You just never know....

Best news is that your DD is okay, rest can all be dealt with.

Terri

 

[tvguy]

I'm curious... why do you say this? For us, there wouldn't have been a significant change in our premiums had we dropped this from DD's car. Given that all our kids are young, inexperienced drivers, we were very glad to have it when DD's accident happened.

It's what insurance and financial experts suggest to reduce your insurance costs. Also, having the highest deductible you can tolerate, most plans have a maximum deductible of $1,000. No different than homeowners or renters or even health insurance, the more risk you are willing to take, the lower your premiums.

I have been driving 42 years, and have only had 1 car totaled. My daughter totaled our 1990 Mercury Sable when it was 18 years old. I dropped collision on it when it was 10 years old, saving me about $200 a year for 8 years, or $1,600. The car had an ACV (actual cash value ) of $750. That was based on $1,000 deductible. My savings would have been greater if I normally carried a lower deductible.
Same with my family car, which will be 28 years old this year. I dropped collision 18 years ago, so about $3,600 in savings so far. The ACV probably is in the range of $750 to maybe $2,000.

The average American files an auto insurance claim once every 18 years, that's not totaling a car, that's all claims. So statistically speaking, you will save money.*

Deductible references:
http://www.consumerreports.org/cro/money/insurance/cut-all-your-coverage-costs/overview/index.htm
http://www.progressive.com/understanding-insurance/entries/2009/9/1/best_of__when_shoul/
http://www.insurance.com/auto-insurance/coverage/when-to-drop-collision-coverage.html
-----------------------------------------------------

*http://www.forbes.com/sites/moneybuilder/2011/07/27/how-many-times-will-you-crash-your-car/
http://www.foxbusiness.com/personal-finance/2011/06/17/heres-how-many-car-accidents-youll-have/
http://money.cnn.com/magazines/moneymag/money101/lesson22/index5.htm

 

[MillauFr]

There is no reason to carry liability insurance on a 10 year old car. I drop liability after 5 or 6 years. With a $5,000 deductible I wouldn't' get much anyway.

 

[ruadisneyfan2]

There is no reason to carry liability insurance on a 10 year old car. I drop liability after 5 or 6 years. With a $5,000 deductible I wouldn't' get much anyway.

Do you mean collision? Liability is required for all drivers in NJ. I can't speak for other states.