I wreck my car how much should insurance pay.?

Question

96 toyota Tercel 2DR Maroon Automatic
I just rebuilt the motor and transmission and it was was a total loss. A deer ran out in front of me I have full coverage. They only want to give me 1500. The motor has 600 in it and the transmission I put another 675 not 6 months ago it the thing was running fine before the wreck. I drove it 50 miles a day it got really good gas miliege.

It had full coverage and it has 178,000 miles on it. I am not worried about what I got in it how much should they pay for it. What is it worth. They offered 1500 when the blue book is like 2000. You look for them they rate about 2500 dollars because of the excellent fuel economy.

Geico.com Full Coverage

Answer 1

They will only give you the value of a 96 Toyota Tercel......they dont care how much more you had in it.

Answer 2

FOR YOUR OWN PROTECTION: You should keep Insurance on the car until the Title has been transferred out of your name. All-in-all this is a full-out waste of money as the chances of something happening are near impossible. BUT, if something bizarre were to happen (somehow the car rolls down a hill and hits parked cars, or something else right out of an insurance commercial) you could be liable. That would leave you holding the bag with no protection from insurance. The title transfer should take no time at all once the car has been totaled-out, and as soon as you have confirmation in hand the car is no longer in your name you can drop the insurance on it. What you'll end up paying for insurance will only be a couple of bucks. Even if you do not plan on getting another car, I would try to keep insurance on yourself because it can be very difficult to obtain auto insurance at a good rate if you don't have it.

Answer 3

I might suggest one to try this web page where onel can compare quotes from different companies: http://PROTECTIONQUOTES.NET/index.html?src=2YAoBU6KXi9BkT

RE :I wreck my car how much should insurance pay.?
96 toyota Tercel 2DR Maroon Automatic
I just rebuilt the motor and transmission and it was was a total loss. A deer ran out in front of me I have full coverage. They only want to give me 1500. The motor has 600 in it and the transmission I put another 675 not 6 months ago it the thing was running fine before the wreck. I drove it 50 miles a day it got really good gas miliege.
Update: It had full coverage and it has 178,000 miles on it. I am not worried about what I got in it how much should they pay for it. What is it worth. They offered 1500 when the blue book is like 2000. You look for them they rate about 2500 dollars because of the excellent fuel economy.
Update 2: Geico.com Full Coverage
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Answer 4

You got away with robbery. Be happy! It has no bearing whatsoever on what you spent or fixed, it is the value of car at it's year, miles and condition. You also rebuilt the engine so the car has a salvage title most likely which as a trade-in at a reputable car dealership is worth $1.00 and would be taken in as a selling tool , then wholesaled to buy here pay here place. Be happy as car new was only 8750.00. The insurance adjusters use average condition in NADA trade, miunus any defects, over ave. miles, and any work needing to be done. Also, salvage title will not show a price. Getting 1000+ for Tercel is great. Thank your lucky stars.

Answer 5

As others have said...You will only get what comparable cars are selling for. They don't particularly care that you just rebuilt the motor. What you could do is ask them about keeping the car. They would give you it's current value minus the salvage price (the amount they would get from a wrecking yard). You could sell the car for a parts source and maybe recoup some of the money you spent on it.

Answer 6

What was the mileage on it when you had the accident?

The insurance company will only pay what it is worth according to what the car would normally sell for. This is an 11 year old car. Its value is probably going to be pretty low. It is usually not worth it to get full coverage on a car this old.

Answer 7

Unless your policy specified a specific value, I think that the company will only pay you the amount that a generic '96 Tercel could be had for in your market. If you put a lot of improvements into an 11 year old car, it's done at your own peril.

Answer 8

Doesn't matter how much you have spent on it in the past or recently. It is only worth the fair market value but condition does have a slight effect on the value. Call your bank for the retail value, google "used car values" . Get about 4 figures and you will get a good idea of what it is worth. BTW Hitting a deer is covered under comprehensive so your rates should not increase because of the accident

Answer 9

Check and see what your Tercel is worth using either the NADA book (banks and car dealers have them) or use Kelly Blue Book's website. Of course, there's a deductible, depending on what kind of policy you have. However, $1500 for a '96 subcompact sounds fairly reasonable.

Answer 10

I work at a body shop and hear this everyday. What I would suggest to you is to search for your car, the same year and model at your local dealerships, also in the auto trader or where ever in your community they sell used cars. DON'T look on kelly blue book that will NOT give you a salvage price ,it's a popularity pricing book for people who want to sell their cars. get all this info of where you found the car and how much it is. This will give you some ammunition to get a fair price for your car. Also if you had things done to your car, get the invoices together and give them to the insurance co. This will possible get you more money.......................

Answer 11

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