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Author Topic: Auto collision questioning  (Read 4867 times)

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FetishDream

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Auto collision questioning
« on: March 28, 2016, 04:14:48 PM »
If any of you guys have been in an auto accident, I would like to get some information about this issue here.  thankx

Lets say that your car is only worth 10K book value.  It is not your fault in the collision. 

The body shop estimated a damage of 15K

so

A.  Since the value to fix exceeded the value of the car, the claims adjuster on the at fault side will only pay you 10K max and calling it totaled. 

B.  Since it is not your fault, the other side has to pay for the damage regardless.  Either shell out 15K to fix the car or give you 15K so you can fix the car yourself. 

So which one is more correct?  This is in california. 




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yuknowthat

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Re: Auto collision questioning
« Reply #1 on: March 28, 2016, 04:36:50 PM »
B seems more correct because it depends on how much coverage insurance policy did the owner bought that specific insurance to cover all the accident. Anything after that is to the person at fault to cover.



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Offline Superan

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Re: Auto collision questioning
« Reply #2 on: March 28, 2016, 04:42:58 PM »
B seems more correct because it depends on how much coverage insurance policy did the owner bought that specific insurance to cover all the accident. Anything after that is to the person at fault to cover.

insurance will pay you market value minus pre existing conditions... Over miles, dents and ding etc.



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Offline Boost

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Re: Auto collision questioning
« Reply #3 on: March 28, 2016, 05:02:41 PM »
insurance will pay you the lowest market value. LOL  If damages exceeds 80% of the vehicle's value they usually just total it out.



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FetishDream

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Re: Auto collision questioning
« Reply #4 on: March 28, 2016, 06:05:24 PM »
So it is going to apply to the market value of the car? 

I think there is a loophole if the law is not there to protect them insurance company.  Like my friend has a 500 value beat up car.  He got into a small wreck.  Estimated at 2500 bucks.  He got 2500 bucks although his car only worth 500 bucks. 

So a con artist can go out and buy a car that is worthless but has a high cost to fix it.  Get into a collision and cash out a price that is more than the price that he bought his car for.  Do this 2x a year = 20,000 fixing damage on a higher end car and cash 40K a year for nothing. 

Maybe my friend just got lucky however, it seems more right if you just want your car to fix to the way it was even if the at fault insurance company has to pay out more than the value of the car.  Just like if you borrow your friend's lawn mower and you mess it up.  To fix would cost more than buying a new one so either buy him a new one or pay just as much to have it fix to the same way it was. 

It just doesn't seems right if you are at fault and wreck someone's loving car and you expect to pay them for less.  So if you can sell your car for 10K or get into a wreck and still get 10K, the math doesn't seem right.  Know what I'm saying?   



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Offline Boost

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Re: Auto collision questioning
« Reply #5 on: March 28, 2016, 06:44:08 PM »
Doesn't matter what you paid for your car, there is a market value. You can pay $1 for your car and the insurance will pay you market value if it get trashed.



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FetishDream

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Re: Auto collision questioning
« Reply #6 on: March 28, 2016, 07:09:51 PM »
Doesn't matter what you paid for your car, there is a market value. You can pay $1 for your car and the insurance will pay you market value if it get trashed.

Is there even an option as to lets say, car is worth $1 but I rather chose for the car to be fix.  I am not out to make any money here.  I am not at fault and I just want my car back to the way it is and we can call it even.  At your expense that is. 

There is another option to buy it back if totaled.  Using the original figures, if the car is worth 10K, give me 10K minus the buy back option of lets say 1K and I will fix it for 3K and pocket the rest. 

As long as the engine is not damage or the drive train, I think it is a wise decision to buy the car back and find a low ball fixer to fix the car for you no? 



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Offline Boost

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Re: Auto collision questioning
« Reply #7 on: March 28, 2016, 08:47:39 PM »
They will give you an option to buy the car back and cut you a smaller check for the difference for the value of the car.

Example, you get 10k for car. buy back is 2k. They will let you take car and cut you a check for 8k.



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Offline thePoster

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Re: Auto collision questioning
« Reply #8 on: March 29, 2016, 05:29:58 AM »
When my crx got rear ended the other insurance company paid me 2500, bought the car for  2k, when mybteggie hit the deer they totaled my car for 4300, I bought the car back from them for a 800 or something, ended up getting a check for 3500 I think, I had originally bought the car for 5k, 4300 was the market value, for them to fix it was over 5k.



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I went through all 15k posts and those 2 quotes I found were the only ones so I guess that would make it "everytime".  Feel free to go through all 15k posts and verify by quoting them all.  You need to quote them all to verifying prove "everytime".   Please verify that Im wrong.

FetishDream

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Re: Auto collision questioning
« Reply #9 on: March 29, 2016, 04:45:16 PM »
When my crx got rear ended the other insurance company paid me 2500, bought the car for  2k, when mybteggie hit the deer they totaled my car for 4300, I bought the car back from them for a 800 or something, ended up getting a check for 3500 I think, I had originally bought the car for 5k, 4300 was the market value, for them to fix it was over 5k.

If the deer was another car with good premium insurance, you would probably get more than the market value?  I think logically, it should.  Like you hit me, I just want my car to be fix and we call it even.  Although you have to pay out more than the market value for my car to fix it.  Either pay that much or give me that much. 

Then again, I can see how corruption can entails.  Car don't worth much but your scammer auto shop gives a ridiculous high estimate just to screw the insurance company over.   

But still though.  If you sell your car, you get 4300.  If you get into a wreck and it is not your fault, you still get 4300.  Where's the value into this? 




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Offline thePoster

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Re: Auto collision questioning
« Reply #10 on: March 29, 2016, 06:50:18 PM »
If the deer was another car with good premium insurance, you would probably get more than the market value?  I think logically, it should.  Like you hit me, I just want my car to be fix and we call it even.  Although you have to pay out more than the market value for my car to fix it.  Either pay that much or give me that much. 

Then again, I can see how corruption can entails.  Car don't worth much but your scammer auto shop gives a ridiculous high estimate just to screw the insurance company over.   

But still though.  If you sell your car, you get 4300.  If you get into a wreck and it is not your fault, you still get 4300.  Where's the value into this?

Well with the teggie, the auto shop is a shop that works with the insurance company, a branch of the insurance company is actually inside the auto shop. 

The teggie is a 2001 with over 160k on the odometer when it hit the deer.  I honestly thought the insurance was going to put the value way lower than what I got, I thought for sure around 2k. 

Yes I could've "sold" the car to the insurance company for 4300 and so essentially I would've only bought the car for 700 bucks but I invested way over 4300 dollars in parts into the car even thought it won't add value to the car in the insurance's eyes, that was alot to to lose.  Not only that but the car still ran fine, no engine damage, the alignment was not off, the frame was not damage, the radiator was not busted, the only thing that happened really was the front bumper was torn, lost the driver side signal light and slight damage to where the bar/mount where the radiator sits, pretty much, this car was still drivable.  So I buy it back, I get a 3500 dollar check, and a car that still drives pretty much perfect.  All I did was buy a new bumper and a new signal light and put that on myself. 

But if the deer was another car, I would only get market value.  I believe the market value at the time for my crx was around 2500, I did get estimates at car shops and they were around that price as well.  The insurance adjuster came out and look at my car and look at my quotes and thats how much he wrote the check for, I'm assuming it was for the market value, I can't remember to well now but that car itself had around 140k on the odometer and was a 91 crx si.  I assume the just type that all into the computer and see what the values they have listed for the cars at that time. 

If you do take your car in to yours or their's insurance person, make sure you list everything!  Like my car's got leather seats, sunroof, etc etc etc etc etc... it all adds up.  I believe that's why I was able to get such a good "price" on my teggie even with all it's mileage and it's year.  The accident happened like in 2014 I think.   A 14 year old teggie with over 160k still nets about 4300 on the market.  Astonishing.



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I went through all 15k posts and those 2 quotes I found were the only ones so I guess that would make it "everytime".  Feel free to go through all 15k posts and verify by quoting them all.  You need to quote them all to verifying prove "everytime".   Please verify that Im wrong.

Sleipnir

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Re: Auto collision questioning
« Reply #11 on: March 30, 2016, 03:41:19 PM »
We are assuming you own the car out right...?

I would go with B...



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FetishDream

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Re: Auto collision questioning
« Reply #12 on: March 31, 2016, 11:46:05 AM »
We are assuming you own the car out right...?

I would go with B...

yep, considering that you do own the car and b is the more logical choice.  It just seems more practical. 

If the car is worth 10g market price and if you sell it, you can get 10g.  If you get into an auto collision, the other side pays you market value for your car if totaled, also 10G.  This doesn't make sense to me at all. 

If your insurance is paying for the totaled since it is your fault then 10g is acceptable but it is not your fault.  The other party must pay for more than the market value so that there is some sort of incentives for being at fault. 

I dunno.  I was also told the same myth that totaled is only pay up to the market value of your car. 



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FetishDream

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Re: Auto collision questioning
« Reply #13 on: March 31, 2016, 12:10:27 PM »
After digging further, it all depends on the at fault or no fault state.

ca is a at fault state I think so they are going to pay up to the market value of the car at the time of the collision for totaled.  Unless I have pix and proof that my car has a higher market value through upgrades then the market fair pricing is what it is for a totaled car.  Also, the at fault side must provide you with car rental even if you do not have car rental with your own policy.  They will not say more than enough because they do not want you to get them with car rental and reimbursement and what not.  A way you can get them is to get a lawyer and they can get you a form to fill out so you can eff them insurance company.  I think it is somewhere like 25 to 40 bucks a day times 30 days max for car rental but you can always say that you borrowed a friend's car so the lawyer can add that bill onto the package so that's more money in your pocket there.

I know that in cali, the lawyer rate is 33.3% so $40 rental reimbursement fees times 30 days = $1,200 and 33.3% goes to the lawyer too?  cot dayam I am getting robbed.   :2funny:

 



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Sleipnir

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Re: Auto collision questioning
« Reply #14 on: April 05, 2016, 03:50:29 PM »
yep, considering that you do own the car and b is the more logical choice.  It just seems more practical. 

If the car is worth 10g market price and if you sell it, you can get 10g.  If you get into an auto collision, the other side pays you market value for your car if totaled, also 10G.  This doesn't make sense to me at all. 

If your insurance is paying for the totaled since it is your fault then 10g is acceptable but it is not your fault.  The other party must pay for more than the market value so that there is some sort of incentives for being at fault. 

I dunno.  I was also told the same myth that totaled is only pay up to the market value of your car.

hell yeah...   i'd take $100 and get some duct tape and bungie cords and ghetto fix it...  then spend the rest on hookers and cocaine.



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