i bought a new 06 toyota tundra, after exactly one week of buying my truck i was involved in an accident. it was honestly not my fault. another truck cut off a car, the car tried to avoid hitting that truck and lose control of his car. instead of hitting that truck, he hit my truck instead. if he hadn't hit my truck however, he would have gone straight to a propane tank. it only had less than 500 miles on my odometer when it happened. is there anyway that the insurance of the other car that hit me be able to get me a new truck like mine before. i already filed a claim with my insurance and took my truck to the body shop. my insurance would subrogate the cost to the other car's insurance to get my truck fix. but since it has been involved in an accident, the trade in value would be depreciated. so my question is, is there any way for me to get a new truck instead of getting my brand new truck fix.
2007-01-09 07:37:38 · 12 answers · asked by Jake 1 in Cars & Transportation ➔ Insurance & Registration
I'm afraid you're going to have little success.
It is in the insurance company's best interest to perform the repairs at the minimum cost, and they will comply with the terms of your agreement with them, but they are not obliged to replace your vehicle since it was "near-new".
Sadly, the second you drove it off the lot, it lost betwee $1600 and $5000 in value. That's just the way it is. The damage will further the depreciation.
If you are truly wounded by this sad turn of events, you will have to sell the (fixed) truck for what you can get, eat the loss and start over.
Best wishes.
2007-01-09 07:48:16 · answer #1 · answered by HeldmyW 5 · 0⤊ 0⤋
Sounds liek they will probably wnat to fix the truck as it is really new and the damage would not be more than what the truck is worth. If it is 80% of the vaule of the truck they will give you what the truck is worth at the time of the accident. We all know once you drive a brand new car off the lot it loses value, so you would not get the full cost of what you purchased the truck for. If you purchased something called GAP insurance it would cover that gap between what the truck is worth and what you paid for it.
2007-01-09 10:32:26 · answer #2 · answered by Anonymous · 0⤊ 1⤋
Work with your insurance agent. If the damage was extensive than it may be close to a total. If not, you are pretty much stuck with getting it repaired, but you do have a couple of options. One is to insist that the repairs be done by a Toyota Certified repair facility. The other is to get monetary damages for the additional loss in the value of the truck plus any other incidentals. Insurance companies want to Settle quickly and will pressure you to take the deal they offer, but you are the damaged party here and you have a lot of power to get this made right.
2007-01-09 07:46:07 · answer #3 · answered by yes_its_me 7 · 0⤊ 1⤋
Certain companies have an endorsement they can add onto a vehicle if it was purchased brand new. This is a waiver of depreciation but only works if your vehicle is a complete write off. They will give you the full replacement value of your vehicle at the time of the purchase. I would ask your company about his and make sure it was added on. If it wasn't, see if it was available. If it was, grill them about why they didn't do it and how your best interest is ALWAYS their purpose. Try small claims court if the amount difference is substancial.
2007-01-09 07:51:31 · answer #4 · answered by angel09 2 · 0⤊ 0⤋
No. Sad for you but in order to total a car the repair needs to exceed about 80% of its total value so unless the car has major damage they will repair it. Also depending on the amount of damage done it will not effect the value in the long run.
2007-01-09 07:44:27 · answer #5 · answered by uthockey32 6 · 0⤊ 1⤋
it all depends on the insurance company and the assesor. if the assesor writes off the vehicle, it should be replaced. if the insurance decides its cheaper they will try and fix it. you can always take their insurance to court and file for a replacement on the grounds that your truck will depriciate, any good lawyer should be able to win that quite easily as the truck was brand new
2007-01-09 07:44:07 · answer #6 · answered by Anonymous · 0⤊ 1⤋
human beings are finding out to purchase SUVs, Hummers, Suburbans, Expeditions, etcetera...This changed into basically yet another waste of taxpayer money to feed a stupid agenda, and further damage the middle class...they are crushing solid automobiles, causing used motor vehicle expenditures and motor vehicle factors to flow up.
2016-12-02 01:29:25 · answer #7 · answered by molander 3 · 0⤊ 0⤋
Talk to the adjuster about it. I have had clients where the adjuster finds out the salvage and if it is high enough is able to total the vehicle. It is worth a try in your case.
2007-01-09 07:42:24 · answer #8 · answered by blb 5 · 0⤊ 1⤋
Unless it's totaled all you're getting is the cost of repairs and maybe a rental car.
2007-01-09 07:46:31 · answer #9 · answered by pinwheelbandit 5 · 1⤊ 1⤋
Yes there is. It's called buying a new truck.
2007-01-09 07:42:16 · answer #10 · answered by Ron Porkmore 4 · 0⤊ 1⤋