Does the insurance company give you the blue book value for a car in good condition or bad condition? Also, do they take in to account if the accident was my fault, as far as settling?
2007-01-11 02:14:37 · 5 answers · asked by olddog 1 in Cars & Transportation ➔ Insurance & Registration
They SHOULD give you book value, less your deductible. Go to kbb.com and nada.com and find out for sure what your car is worth. They may try to lowball you with the first offer, but if you can show them a printed page from kbb or nada, they will likely offer you the actual value without much problem. As for it being your fault, that should not matter, as that is why you bought insurance in the first place, isn't it? They are simply doing what they said they would when they issued the policy. Your rates may go up in the future, however.
BTW, I hope you weren't hurt. If you were, and there are substantial medical bills, I would involve an attorney ASAP. Not that you want to sue them, but the atty. will make sure they are giving you everything you deserve.
If you have problems with them giving you the full value of your car, just tell them you would be willing to let the insurance commissioner in your state settle it for you. It would be handy to know his/her name so that they know you have done your homework. The last thing they want is an investigation by the insurance commissioner.
Good luck, and I hope this helps.
2007-01-11 02:25:55 · answer #1 · answered by J.R. 6 · 0⤊ 2⤋
Insurance companies have their own book of values that they use, and give you the retail value of the vehicle at the time of loss, adjusted for condition. Add ons, improved stereo systems, trim packages, electric seats and door locks, etc. all add. Prior damage, high mileage, etc. all deduct.
Yes, they take into account who was at fault. If it was your fault they will only pay out if you had collision insurance, and the will deduct the amount of your deductible from that.
If they consider it a total loss, and pay you, the vehicle is then theirs, and they will send someone with a car carrier to pick it up and take it away, where they will salvage it for parts in an attempt to recoup their losses.
If you want to keep it, they will sell it back to you and you will take less.
2007-01-11 03:16:59 · answer #2 · answered by oklatom 7 · 0⤊ 0⤋
They give you the actual cash value for your car immediately prior to the accident. Generally that's blue book retail, adjusted for condition and any pre-existing damage, less your deductible.
Fault normally doesn't factor into the settlement, aside from the fact that if you are not at fault the other driver's insurance will cover your deductible.
2007-01-11 03:01:22 · answer #3 · answered by Bostonian In MO 7 · 1⤊ 0⤋
most insurance company's give you blue book value or Nada value but on there it will have poor condition average condition or excellent condition so what ever condition vehicle was in be for accident is what they will go by. and it don't matter who's fault the accident was they can not give you less money this is why you pay for insurance.
2007-01-11 02:27:02 · answer #4 · answered by scoob48413 2 · 0⤊ 0⤋
they do no longer provide blue e book value, they provide you certainly funds value. it relatively is a itemizing of of what comparable vehicles are advertising for on your section........... First returned up , the coverage will ascertain if its fixable or totaled. If no longer fixable they wil pay you for it and than its there motor vehicle. And if the vehicle is financed then you definitely pay off the vehicle after which you're loose to bypass purchase yet another motor vehicle................md
2016-10-07 00:06:06 · answer #5 · answered by ? 4 · 0⤊ 0⤋