Insurance question....?

Question

My car was hit by a drunk driver while it was parked in the road. They are telling me that it is totalled. I know the drivers insurance pays for the cost of my car, but how do they figure out how much i am going to get? I got the car for 8,500 a year ago and it is paid off.

Answer 1

Normally they will only give you the book value of the vehicle. However, you are in a position to bargain for more money since you were an innocent victim of a drunk driver. They should pay for a rental car for you while you settle the claim and find a replacement vehicle -- typically up to 30 days.

If you can prove that you can't get a similar year, make and model car for what they're offering, they may offer you more.

I had a similar situation a number of years ago, although the driver wasn't drunk and my car wasn't totalled. I demanded and got an extra $2500 for reduction in value since the car was now a repaired wreck. The adjuster didn't even blink at the request. They paid the garage directly and cut me a check for the rental car and the $2,500 extra on the spot.

Answer 2

Depends on their insurance compnay, they may have an insurance adjuster do the figures, and also reimburse you for a rental until you get another (within a reasonable time frame). They base it on Kelly's blue book, look at the mileage you had, etc. Since the car is paid off, the check will be made directly to you.

Answer 3

They will take the "Blue Book Value"of it, and kind-of average it in with what simular cars are selling for. They usually give you "replacement value."

Answer 4

Most companies use the kelly blue book to determine value. Go to kbb.com

Answer 5

They probably pay you the market value of your car now.