wrecked my car gs 300 lexus hit a deer
2006-11-26 12:59:30 · 5 answers · asked by Girl 2 in Cars & Transportation ➔ Insurance & Registration
Values are set by free market or actual cash value (ACV). In other words, what would your car have sold for prior to the loss? Most use the NADA pricing guide for a base and add or subtract for options, condition and mileage. Your coverage is NOT replacement coverage, it only pays the ACV.
FYI - WRITE2KIM doesn't have a clue.
2006-11-26 13:06:13 · answer #1 · answered by Anonymous · 0⤊ 0⤋
They Have something called a Blue Book that states the Year/Make/Model of the Car They add The Mileage and Get an Estimate From There..Sorry you Hit a Deer..Been There Done That..Scary!!!!!!
2006-11-26 21:08:59 · answer #2 · answered by roxie_29812 4 · 0⤊ 0⤋
You are not going to like my answer but it is REAL...
Insurance companies set the value of your car based upon what they could purchase the car for. It is NOT blue book or NADA in most cases but the Los Angeles Times, Auto Trader, etc.
They do not have to compare mileage or condition or even options to determine "replacement" value...
OK, having said that, your first offer may be ridiculous from them so the way to get things on your side is to go car shopping for a comparable car and get purchase order from dealerships - make sure to tell the dealer what you are doing so you get the right figures - they will want you to get the money so you might come back to buy the car...
If you find a car similar to yours - tell the insurance company and ask them to negotiate it for you to replace your loss. They won't do it but it will force them to explain why you cannot replace the car with replacement car insurance...and then they have to pay more since there is NO good explanation!!!
2006-11-26 23:45:19 · answer #3 · answered by Anonymous · 0⤊ 1⤋
Some use price guides and current listings for your area to get a "fair price" for your car.
2006-11-26 23:11:51 · answer #4 · answered by friendly advice from maine 5 · 0⤊ 0⤋
What Cowboy Bill said.
2006-11-27 00:29:48 · answer #5 · answered by Anonymous · 0⤊ 0⤋