I got in a car accident and i was wonderin how the whole deductible thing goes. Im 19 and had a 92 honda accord. I paid 2000 for it, so if its totaled will they give me what i paid for the car or will they give me the kelly blue book value?
2006-11-22 13:50:50 · 8 answers · asked by John 2 in Cars & Transportation ➔ Insurance & Registration
probably the book value, you might have to haggle a little with them to get more.
2006-11-22 13:54:45 · answer #1 · answered by mister ss 7 · 0⤊ 0⤋
Collision insurance is for actual cash value (ACV) of your car prior to the loss. Most insurance companies use NADA as a guide to establish value, adding or subtracting for mileage, condition and options. Settlement will be the ACV less your deductible, or the value of your car will be paid and your portion (the deductible) will be 'deducted' from the final check. If you made a really good deal when your purchased the car you may actually come out ahead. If you made a really rotten deal you may lose money.
2006-11-22 23:44:14 · answer #2 · answered by Anonymous · 1⤊ 0⤋
They will not give you blue book. They pay actual cash value, and they use various different methods of finding this out, but it not blue book. If it's totaled the deductible is taken off the settlement amount. If it is repairable you pay the deductible to the shop after it's been repaired.
2006-11-23 08:58:23 · answer #3 · answered by Chris 5 · 0⤊ 0⤋
If you file a claim, your insurance will go up for at least 3 years. Being 19, it will probably be longer though.
If you have comprehensive coverage and the insurance company totals it, you would get the blue book value for it.
You wrote that you paid $2k for the car. I wouldn't think that you would have comprehensive coverage because it wouldn't make any sense on basically a disposable car, no offense.
You're much better off spending $2k for another car and not filing a claim on this one.
2006-11-22 21:56:08 · answer #4 · answered by DA 5 · 0⤊ 1⤋
I was wondering when did you buy this 92 Honda Accord and how many miles did it have on it? I'm asking this because I'm thinking about buying a 92 Honda Accord with 150,000 miles for $1,200 and didn't want to waste my time and money?
2006-11-24 17:33:43 · answer #5 · answered by Lekeisha S 1 · 0⤊ 0⤋
If you are talking about your insurance and the accident was your fault, they will give you the book value minus your deductible.
2006-11-22 22:15:57 · answer #6 · answered by Anonymous · 0⤊ 0⤋
they will go by there current book value of it,and then they deduct for mileage on it,so you might wind up getting a fair settlement on it,but on that old of a car i wouldn't count on it,just be firm ,and try and hold your ground and you might do alright ,,good luck i hope this help,s.
2006-11-22 21:55:13 · answer #7 · answered by dodge man 7 · 0⤊ 1⤋
they will gave u red book for it
witch is most of the time $500
sorry about the accident
2006-11-22 22:01:09 · answer #8 · answered by davedebo198305 4 · 0⤊ 1⤋