I got in a car accident and it was my fault for turning left. I have full-coverage with a $500 deductible. It is worth estimated $30,000 and is a Lexus is250 2007. They said it might be fixable, but we just want a new car. They haven't called me back to tell me if it's totalled but if they say they will repair it, is there a way to just get a brand car and fight it. Or will the insurance prevail and just fix it because it's cheaper to do that? I'm going to talk to an attorney.
2007-10-10 10:19:56 · 7 answers · asked by Anonymous in Cars & Transportation ➔ Insurance & Registration
IF you want a new car, go buy one. Whether you car is totaled or not, you don't get a new one and no judge in his right mind is going to let you have one either. YOU are entitled to 1) have your car returned to its prior condition if repaired or 2) the actual cash value of the vehicle if a total loss. Use your common sense...if the guy you had the accident with came to you asking you for a new car knowing it's cheaper to repair the one you damaged OR pay the value of the car which are you going to pay? You will get what you are legally entitled to either way. I just hope you have GAP insurance if it is a total.
2007-10-10 17:29:55 · answer #1 · answered by bundysmom 6 · 2⤊ 0⤋
In most states, a car is a total loss when the cost to repair the vehicle equals or exceeds 75% of the vehicles value.
If your car is worth 30,000 then the estimate would have to equal or exceed 22,500.00. They can do a heck of a lot of repairs for 22 grand.
The adjuster may be looking to see if the vehicle would be considered a "constructive total loss". With an insured vehicle, this is much much harder to do b/c you do not have as many factors you can work with.
If the car is repairable (by law) then you can not force the insurance company to total your car. Otherwise, everyone who wrecked their brand new cars would want new ones and your insurance rates would go through the roof. Your policy states that your insurance company has the right to settle as appropriate.
Also, if they total the car - they will not give you the price of a new car - they will pay you the actual cash value of the wrecked vehicle. Most cars depreciate quit a bit in the first year. If you financed your car, there is a good chance that you will be upside down.
If the insurance company fixes this car - then your option is to have it repaired and trade it. You will take a financial hit but you can get your new car.
PS. Go ahead an talk to an attorney. 1. adjusters/insurance companies deal with attorneys all the time - we are not afraid of them, 2. most attorneys will not take a property damage only claim - as soon as the lawyer finds out you are at fault for the accident, they probably will not take your case because there is no money in it for them.
2007-10-10 12:19:55 · answer #2 · answered by Boots 7 · 2⤊ 0⤋
The insurance company will take whichever option costs them the least. That is their only obligation. If it would cost less to fix it, they will pay for that. If the cost to repair is more than the worth of the car, they will give you the worth of the car and take away the car. Talking to an attorney will not change any of that, but feel free to do so it you'd like. Then you can give a third (average) of what they give you to the attorney.
2007-10-10 10:34:44 · answer #3 · answered by oklatom 7 · 0⤊ 0⤋
If it is cheaper to just repair it, that is what they will do. The default course of action is to repair it.
That is why when someone's car is stolen they just hope that the thieves will total it, like burn it up or strip it down to the frame, because in that case the insurance will buy a whole new car.
However, if the thieves just damage it and leave it, the insurance will only repair it, and there is no telling what the thieves may have done to it internally. That is why, in all irony, people always hope that a their stolen car is totalled.
2007-10-10 10:29:29 · answer #4 · answered by perfectlybaked 7 · 0⤊ 0⤋
What you want is of no concern to the ins co.
They are only obligated for repairs if the car is repairable.
Go ahead, talk to an attorney. Insurance co;'s and usually have their own staff attornneys and will explain their position to the attorney..
One option, if you can choose to scrap out the car and take the settlement and buy a new car.But remember, if you owe money on the car, the leinholder will expect you to pay them off from the settlement funds.
2007-10-10 13:57:42 · answer #5 · answered by TedEx 7 · 0⤊ 0⤋
If your car is repairable, they will most definitely total it! There will be absolutely no reason to talk to you attorney. If getting the car repaired is cheaper, then you will not win even with a lawyer. They are the ones cutting the check, and u were the one who crashed, so who do you think has say? Unless the damage is close to 30 grand, be prepared to keep driving your Lexus!
2007-10-10 10:36:08 · answer #6 · answered by lindalbnj 2 · 1⤊ 0⤋
Different insurance companies set different criteria for what they deemed a total loss. Usually if the amount it costs to fix it is more than 50% of the book value of the vehicle, they will just pay it off. Different companies have different % they go by though.
If they decide to fix the vehicle, your better off going with it because you won't win against an insurance company, especially since they are following their own guidelines in determining the end status of a claim. This is a set criteria which they have on paper to back up their argument if you do fight it.
2007-10-10 10:32:15 · answer #7 · answered by Primary Format Of Display 4 · 0⤊ 0⤋