My son had an accident in his 2001 Ford Mustang last Sunday. Our insurance company wants to total out his car. I am afraid that it will not give him what the car is really worth and we will be stuck making up the difference. Even if the insurance company does pay full value, we will have to come up with a down payment for a new car for him and go through all the hassle of shopping for it. Is there any way we can force the insurance company to repair his car? If not, how can we be sure to at least get full value for the car?
2007-06-14 05:00:23 · 11 answers · asked by engfish225 3 in Cars & Transportation ➔ Insurance & Registration
If you want to keep the car it will have a salvage title. The insurance company will give you blue book value for it, not what it will cost to fix it.
Find cars for sale locally that are comparable to his and give a list to your agent. Be firm in saying you want the amount it would cost to replace his car. Insurance companies want to settle things quickly, if you have something specific and reasonable you want they'll usually agree just to have it over.
I totaled my Mustang and they wanted to give me $3500 for it. I found several for sale nearby in the $5500-6500 range and they ended up giving me $6000 so I'd go away.
2007-06-16 10:03:50 · answer #1 · answered by Lizzy P 3 · 1⤊ 0⤋
There is another option, you can ask the insurance company to pay there maximum amount for repairs, and You pay the extra to have it repaired. As a crash repaired I have had this done in the past,If the repairs are $5000, insurance pays 3, owner pays the remaining $2000. You own the car, insurance will pay only market value for repairs, but you have the final say. Remember, the vehicle will be required to pass a roadworthy test, and in some states will be re-registered as a statutory write off, making it harder to insure in future, plus it will often lower the vehicles resale value. Think long and hard, being sentimental about a car could leave you with a large amount of dept.
2016-05-20 02:10:43 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Most likely they want to total the car because the cost to fix it is at least 50% of the veh value. So if they total it they would pay you actual cash value for the veh. Doesn't mean that is the amt you still owe on it. They will also take in to account how much they can get if they sell it to a salvage yard, and that will used in the total they come up with to pay you. The will also take depreciation off the veh if the interior is damaged, or raggedy. You have the option to keep the veh, and they will ded the salvage value from what they pay you.. So example they want to pay you 2000 for the veh, but you decide to keep it.. They will take salvage value off, meaning what they would get from salvage yard. So lets say they could get a 1000 for it.. They would only pay you a grand. Now if you have gap coverage on the policy they would pay off whatever you owe on the veh directly to the lienholder, but you would still be out. Best be is if the damage is not that bad, total it, get it fixed somewhere, and then sell it.. If that is an option. But you legally cant make them fix it. There only required to bring your veh back to the state it was in before the accident, and nothing more.. Here is a better def of what it means....
What Is A Total Loss?
In general, we declare your vehicle a total loss when the cost to return the vehicle to pre-accident condition would be as much–or more–than the actual cash value of the car.
Example A
Your vehicle's actual cash value: $10,000
Cost to repair: $3,000
Difference: $7,000
No, this would not be a total loss, because the cost to repair is less than the vehicle's actual cash value.
Example B
Your vehicle's actual cash value: $3,000
Cost to repair: $4,000
Difference: $1,000
Yes, this would be a total loss, because the cost to repair is greater than the vehicle's actual cash value.
We may also declare your vehicle a total loss when the repair cost, plus the salvage value (money we would recoup when selling your vehicle through a licensed salvage vendor) exceeds the vehicle's actual cash value, or if state regulations warrant it
2007-06-14 05:56:56 · answer #3 · answered by D.L. 4 · 0⤊ 0⤋
The insurance company is only saying that the cost of repairs to the vehicle will be 'out of proportion' to what the vehicle is worth. Why spend $8,000 on fixing a car with 80,000 miles on it?
I recently got rear-ended and I was concerned about safety - so I WANTED my care to be "totalled", but the insurance company wouldnt go for it. 7 weeks and about $9,000 later, I got my car back.
I know car shopping is a hassle - but so is going through repairs. If the damage is bad enough for the Insurance Co to 'total' it - I can only imagine it would be expensive and take a LONG time to fix... let alone always wondering if its 100% safe after a crash that bad.
2007-06-14 05:12:03 · answer #4 · answered by Valerie H 4 · 1⤊ 0⤋
The insurance company has the right to replace or repair the vehicle based on what they see fit. You agreed to that when you signed the application.
The purpose of insurance is to put you in the same situation you were in prior to the loss. There is not to be any financial gain or loss.
If it is less expensive to replace the car then it is to fix it, they have every right to do that and that is pretty much the only time they would do it.
Besides that would you really feel comfortable having your son drive around in a repaired call that an insurance company wanted to "right off" I know I wouldn't.
2007-06-14 14:36:09 · answer #5 · answered by jkjkbernier 1 · 0⤊ 0⤋
They will total a car out when it costs more to repair the car than the car is worth. How much is the estimate to get the car fixed ? How much is the blue book value of the car ? you can fight then but remember that the insurance companies have attorneys and deal with this all of the time.
2007-06-14 05:07:36 · answer #6 · answered by david d 5 · 3⤊ 0⤋
My son had an accident and the insurance company wants to "total" his car. Can I force them to repair it?
You can easily compare quotes from 20+ cheapest insurance companies in USA for example at: DISCOUNTAUTOINSURANCE1.COM
2014-07-15 06:04:16 · answer #7 · answered by Anonymous · 0⤊ 0⤋
You absolutely have no choice in the matter. Its simple math really... If it cost more to repair a car then the car is worth.. its totalled. No IF's, AND's, or butts.
Now- as far as getting the value of your car. You are only owed actual cash value.. it doesnt matter if you owe more.. thats your problem.. not theirs.
If you disagree with the value they give you, you better be willing to offer some sort of proof its worth more (local ads for similar vehicles.. etc) but even then.. dont expect a huge difference. actual cash value is what it is.
2007-06-14 08:41:42 · answer #8 · answered by Anonymous · 3⤊ 0⤋
My son had an accident and the insurance company wants to "total" his car. Can I force them to repair it?
Looking 4 auto insurance companies? one of the top to get best auto insurance company, rates and prices is: http://www.cheapinsurance4auto.info
2014-06-29 08:54:03 · answer #9 · answered by Anonymous · 0⤊ 0⤋
You can't force them to do anything, but you can buy it back for cheap and repair it, have it inspected, relicensed plus have $ for a new car or the repairs on the old one. We paid for and kept the old car and my daughter got a new car with the $ and I kept the old car which was a 94 Honda because it got better gas milage than my diesel truck so I can leave it parked. This is how it works in WA.
2007-06-14 05:09:09 · answer #10 · answered by 84purpleshovel 2 · 3⤊ 0⤋