Totaled car - insurance question - help!!

[MyManGoofy!]

Ok - if your car has been totaled in a car accident - does the insurance company pay out Kelly Blue Book value or cost to replace value?

 

[L107ANGEL]

Normally KBB. Were you hurt

 

[The Mystery Machine]

They pay out NADA. It varies by your insurance company. They may not pay out the retail NADA but the insurance NADA.

 

[CapeCodTenor]

Sorry to hear about your car, I hope you weren't hurt.

When the insurance comes to look at the car and then comes back with a price they'll pay you, don't accept it right away. If you performed regular maintnence work on the car and can prove it with records, then show them those records. I did this when my car was totaled in a hit and run and was able to get more money out of the insurance co. In fact, I had $500 worth of work done to the car the weekend before the accident and because I kept all my records, and proved the work was done, I was able to net an extra $500. Not much, but it was something. Just a little piece of advice.

 

[MyManGoofy!]

I am fine - it was my son's car and he has injured his back, neck and knees. We are hoping it won't be a long recovery process.

The insurance company has called us with this crazy low figure that they want to pay out and they want us to settle by Monday or they will start charging us storage fees for the car. They are also only giving us 4 days of a rental car because they say they are willing to pay out and we should be able to get a new car with the pay out. Not on what they are offering we can't.

 

[CapeCodTenor]

I am fine - it was my son's car and he has injured his back, neck and knees. We are hoping it won't be a long recovery process.

The insurance company has called us with this crazy low figure that they want to pay out and they want us to settle by Monday or they will start charging us storage fees for the car. They are also only giving us 4 days of a rental car because they say they are willing to pay out and we should be able to get a new car with the pay out. Not on what they are offering we can't.

I'd try and fight for a higher pay out. Questions to think about: How old was the car when it was totalled? How many miles did it have on it? What was the body condition like when it was totalled? Was the interior in good condition? Did it have a stereo with a CD player? Was the maintnence performed regularly? Always fight for a higher pay out.

 

[KathyTX]

Most insurance policies are written to provide "Actual Cash Value" for the total car. This should be pretty close to the Trade In value listed at KBB.com or Edmunds.com...

This will be lower than amount you'll need to actually replace the car.

 

[DarthKTrava]

I'd call a lawyer and work through him. Especially since your son was hurt.

Hope your son has a speedy recovery.

 

[MyManGoofy!]

yes - I have decided to talk to an attorney. I have never been in an accident before and so I have never had to deal with the insurance for both the car part as well as my son's injuries. The insurance company is pushing me to sign something right away - and it has been my experience that when someone wants you to sign something as soon as possible - it is never a good thing. So because of all this - I am going to call an attorney who can help me through all this.
But thank you all for all the suggestions!

 

[foxlore]

You can also call your state Insurance Commission. They'll tell you whether or not the insurance company is breaking the law. They'll also advocate for you if necessary. I've used them three times. The first was at the instruction of my attorney when my 1 year old Honda was totalled - no fault of mine. The other drivers insurance company broke the law in several areas - by the time the insurance commissioner got done with them they couldn't get me the check fast enough. The other two times I've used them had to do with health insurance... In those instances the commission sent the company a letter and again they couldn't jump high enough. It's sad they don't do the right thing from the beginning. I believe it's a numbers game - they're banking that most people will roll over and take it... Good luck and hope your son will be fine soon.

 

[Mr. & Mrs. Smith]

Well, it totally depends on the type of coverage you have, for one. If you just have liability you get squat. However, it looks like your DSon had the right coverage. So, what is it that they are offering you? How much lower is it than the trade-in value?

When we totalled our car, our insurance company was wonderful. It was exactly one year from the day that I drove the car off the lot. They basically paid off the rest of the car payments including the interest. That meant that we started from scratch in buying a new car and really weren't out too much. They also paid our expensive ambulance bills and were insistant that we call them if any unexpected medical expenses came up after the fact. They also told us to keep the rental car as long as we needed until we got ourselves settled away with a new car. (Now, I never pushed them on this. We had it only about a week. So I'm not sure when they would have stopped paying.)

 

[MyManGoofy!]

Well, it totally depends on the type of coverage you have, for one. If you just have liability you get squat. However, it looks like your DSon had the right coverage. So, what is it that they are offering you? How much lower is it than the trade-in value?

When we totalled our car, our insurance company was wonderful. It was exactly one year from the day that I drove the car off the lot. They basically paid off the rest of the car payments including the interest. That meant that we started from scratch in buying a new car and really weren't out too much. They also paid our expensive ambulance bills and were insistant that we call them if any unexpected medical expenses came up after the fact. They also told us to keep the rental car as long as we needed until we got ourselves settled away with a new car. (Now, I never pushed them on this. We had it only about a week. So I'm not sure when they would have stopped paying.)

This is not our insurance company I am dealing with - it is the young man's that caused the accident.

 

[Aimeedyan]

When I totaled my car (both times - I loved both of those cars!!) neither accident were my fault. I did not deal with the other insurance company.

I called USAA, they paid off my car. Then THEY went after the other insurance company for reimbursement of my car and medical bills (and lost wages). USAA gave me an excellent settlement on both vehicles - way above what KBB or NADA thinks the cars were worth. In both instances, I paid off the 1 year old cars (so typically upside) and put several thousand down on a new one.

I was healed and driving a new vehicle two weeks after the accidents and they handled the rest. Never had to worry about it again.

(on the 2nd accident, I was sued by another drive involved and they took care of that too)

I love USAA!

 

[golfgal]

This is not our insurance company I am dealing with - it is the young man's that caused the accident.

You need to contact YOUR insurance company and get the working on this for you. Direct all the calls from his ins co to your ins co. That is what you pay your insurance company for and they have lawyers on staff to deal with this.

 

[DebbieB]

If it wasn't your son's fault, then I would definitely push for more.

You need to contact your insurance company. If you are in a no-fault state, your insurance will have to pay the medical bills. I would not sign anything without consulting with your attorney or the attorney from your insurance company.

 

[allison443]

This is not our insurance company I am dealing with - it is the young man's that caused the accident.

Did your son's car have collison coverage? If so, normally your own insurance company pays you and then they go after the other driver.

Also, just want to add, you can settle the property damage part of your claim, and still reserve the right to pursue a claim for your son't injuries.

 

[ObsessedwiththeMouse]

Did you have gap coverage on your vehicle? We decided to take it out on our SUV. Thank goodness, because if it were ever totaled, I'm sure our value would be next to nothing since it's an SUV.

Good luck to you!

 

[Michelle67]

Looks like you've already gotten good advice, and I'm glad to hear that you'll be contacting an attorney, so I'll just add prayers and healing thoughts for your son. I hope everything works out well and that he is all healed up soon.

 

[Mr. & Mrs. Smith]

This is not our insurance company I am dealing with - it is the young man's that caused the accident.

I'm with the others. You shouldn't be talking to their insurance company at all! Did your DS contact his insuranace company? You should do that as soon as you can after an accident occurs.

 

[Chris2597]

When I totaled my car (both times - I loved both of those cars!!) neither accident were my fault. I did not deal with the other insurance company.

I called USAA, they paid off my car. Then THEY went after the other insurance company for reimbursement of my car and medical bills (and lost wages). USAA gave me an excellent settlement on both vehicles - way above what KBB or NADA thinks the cars were worth. In both instances, I paid off the 1 year old cars (so typically upside) and put several thousand down on a new one.

I was healed and driving a new vehicle two weeks after the accidents and they handled the rest. Never had to worry about it again.

(on the 2nd accident, I was sued by another drive involved and they took care of that too)

I love USAA!

Yep, USAA is the best. DH recently was involved in an accident and USAA had a check for a fair value of dh's truck to us within a few days. The other driver was at fault and USAA will handle everything concerning dh's med and lost wages and go after the other driver for reimb. ...
My advise is to go through your auto insurance, get a settlement on the car, handle your son's med bills through your PIP portion of your auto insurance and let your auto ins. duke it out with the other insurer. If you ds's injuries are more than your PIP coverage you will probably need a lawyer. We dealt with another well known auto insurer when our ds had an accident. Ds's car only had liability so it was the other insurance that paid and they totally low balled by over 2500. We ended up buying another used car for ds. After almost 2 yrs of negotiating they paid the fair market value at the time of the accident. Also, beware that you only have 2 yrs to settle this on your own, unless a suit is filed.