My partner recently had an accident in a 2005 Toyota corolla (not at fault) and I want to know the likelihood of it being determined a 'total loss'. The insurance company has stated that it will be about 10k damage or more, the suspension was snapped and the wheel positioned at 45 degrees, the car nearly rolled and the motor has dropped on one side, transmission seems shot and lhside front quarterpanel looks like foil. Will it be a total loss ? do the Ins co take a recommendation from the repairer? can this be disputed? help would be appreciated.
2007-02-12 21:28:26 · 3 answers · asked by R B 2 in Cars & Transportation ➔ Other - Cars & Transportation
if your car is declared "TOTALED" which it sounds like. the insurance will give you the Kelly-blue book value of the car minus your deduction out of that check the loan will be paid off, you don't get that money to keep. only the amount that may go over what you owe. and if you owe more than what the insurance company give then you will still owe the balance, finance companies don't care if you have a vehicle that is brand new or wrecked they get their money. but in your case if someone else hit you partner then their insurance company will have to pay off your vehicle and may have to pay for a replacement vehicle let alone any medical problems your partner got, sounds like a really nasty accident, DO NOT SIGN ANYTHING!!!! the other insurance company will try to get you to settle, your best bet is to hire an attorney that will work on contingent and only collect if you win your case, good luck.
2007-02-12 21:42:59 · answer #1 · answered by kissybertha 6 · 0⤊ 0⤋
Usually a car is written off if the cost of repairs is in excess or close to the "Blue Book" value or market value. Google locally for a site with blue book prices. Once a car has been severly damaged, they are never quite the same, no matter how much realignment and straightening.
2007-02-15 01:10:48 · answer #2 · answered by scorpiosa70 2 · 0⤊ 0⤋
I'm very sorry to tell you this but the insurance company is right. It will be better if you will just replace it.
BUT...
If that car has a sentimental value. There is a way, Just be ready with a bunch of cash because you're going to need it. It's just like buying a new one.
2007-02-12 21:34:52 · answer #3 · answered by ROCKY 2 · 0⤊ 0⤋