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pitey | I got into a car accident and my truck is all screw up i need to find out what i should do whit the insurance? |
i got into a car accident this sunday the insurance is trying to just fix it but everyone has been telling me to ask the insurance or try to get them to get a new truck b/c my trucks its in really bad shape so what should i do or whats the best thing i should do ? |
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mbrcatz
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"Everyone" doesn't know how insurance works. Talk to your agent. If it can be fixed, the insurance company will fix it, they won't total it. If it can't be fixed, they'll total it out - but if it's relatively new and you have a loan, it's probably worth less than you owe on it.
Just because it's been in an accident doesn't mean you get a new truck. Sorry. YOu only get the ACTUAL CASH VALUE, less your deductible. Want to know what ACV is? Go to www.kbb.com, look up the value of your truck for a private party sale. Subtract your deductible. And you might want to call the finance company to see what the payoff is on your loan. |
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sortaclarksville
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Here (not sure if everywhere), if the cost to repair the vehicle is 80% or more of the value of the vehicle, they are required to total it. If they do total it and if it is drivable or you can make a few minor repairs to make it driveable and want to keep it and pocket the difference, then you can buy it back from the insurance company. If they "total" it, it becomes their property to dispose of (auction, scrap metal) as they see fit. However, if you buy it back, keep in mind that you will only be able to get liability on it from that point forward as it will have a salvage title on it.
It is not up to you whether it is repaired by the insurance company or totaled by them.
Are you allowed to get your own estimates for repair? If so, you may be able to get an estimate that bumps it up enough that it will be considered a total loss. You will just have to check around. Some bodyshops will only paint repaired panels, and some refuse and will repaint the entire thing so that it matches. So, if you find one that will not do the work unless the entire truck is painted, that in itself may bump it up to the value needed for it to be a total loss. If they use their own adjustor, you are at their mercy.
If they do total it, make sure the payment is not just the blue book value of the vehicle, but also includes any sales tax that you would have to pay on the purchase. |
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SPIFIMAN1
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In the world of insurance this is not up to you to decide.
The insurance company will decide weather your truck is totaled or if it can be fixed.
Normally if a vehicle is wrecked and it is going to take over 35%-40% of what the vehicle is worth to fix it insurance companies will declaire it a total. But this is not written on stone. It is always the insurance companies decision.
If they total it unless you have replacement value insurance what you will get is the value of the truck less depreacition. |
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Jackson D
 |
The adjuster will determine if you will receive a check for a new truck or if your current truck should be repaired. Since the adjuster has already made the decision to get the truck repaired and not totaled it will be a tough fight. The only way to convince the adjuster to total the truck is if there was any severe damage to the frame. The frame will affect the entire body of the truck and how it functions. That is pretty much your only loop hole. 99.9% of the time the adjuster has already checked this and probably won't go back on it. Also, getting the adjuster to reevaluate his assessment is pretty hard.
Is the adjuster an independent adjuster or does he/she work directly for the insurance company (an easy way to determine this is if they wear the insurance company's logo on their clothes or car)? If they work for the company, you are pretty much out of luck but could ask to speak to a supervisor and see if he/she could reevaluate your claim. This may delay the repair process and have the same outcome. If the adjuster is an independent adjuster, you could really talk to them and if the costs of repairs are within $1000 of totalling the vehicle they may go ahead and do that.
Just be forwarned that the replacement costs for a vehicle are never what the sticker prices of buying a new vehicle are. You will still have to spend some money to get a truck just like your current truck. The replacement value paid to you is usually a $1000 - $2000 less than the kelly blue book value of the truck.
I don't know what state you are in but some states require that the insurance pay you for value lost in your truck because of the accident. You may want to look into this. This will not happen until the truck is repaired. It also doesn't happen in every state. |
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Mr. Pickles
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I was a claims adjuster for several years with USAA Insurance. You signed a contract with the insurance company when you signed up with them and all of that small print means something.
Unfortunately, you don't get to decide what to do with it. The adjuster that works for the insurance company will determine the value of the damage vs. the value of the car in it's pre-accident condition. If the cost of fixing the truck is more than what it is determined to be worth, the truck is a total loss. My experience is that most people think there car is worth more than what the insurance company thinks.
Total loss means it will cost more to repair the damage than what the truck is worth. In that case, a total loss adjuster will be assigned to your claim to determine the FAIR MARKET VALUE of your truck (in other words, what a similar vehicle in that condition would sell for in your area). You will get a check for that amount less your deductible. The deductible applies regardless of who is at fault (that's one of those things you agreed to pay when you signed the contract, even if it was someone else's fault).
BLUE BOOK VALUE IS NOT USED TO DETERMINE THE VALUE OF YOUR CAR. The insurance comapnies have their own source (many use IAA - Insurance Auto Auctions). To be honest, you often get less than what you expect, but not always.
If they determine the damage is repairable, they will not "get you a new car." They will proceed to fix the vehicle with your permission at the shop of your choice. If you disagree, it's an uphill battle, but at most, some companies will cash you out on the damage and you can do what you like with the check.
If it is a total loss, it does take some time to determine the value. As soon as they inform you that your vehicle is not repairable, you should start looking for another vehicle. Most companies will only provide you with a replacement vehicle for a certain number of days starting on the day that they inform you that your car is not repairable. Usually it's about a week. That means when you get the call that your car is totalled, you only have a limited time to use their replacement vehicle before it expires.
Lastly, if your vehicle is totalled, you will not get a "new" truck. If you have a 1999 Chevy S-10, they do not owe you for a 2007 Chevy S-10. You will get a check for the value of another 1999 Chevy S-10.
All companies operate differently, but this is what I can tell you from my experience. |
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manabell
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You don't get to decide that. They have an adjuster determine wether it should be "totaled out" or not. If they determine that it will cost more to fix than replace, they will call it totaled and you will get a new truck. |
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angeleyes39042
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Most insurance companyies will fix the truck if the blue book value is more than the damages. They will give you the blue book value if the damages are more than then book value.
Sometimes if it is close then you can try to presade the insurance company or the place doing the estimate one way or another. |
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