Car insurance advice

**thanatos106** · 05-03-2007, 11:57 AM

So I total my SUV and the insurance is willing to pay me 12K for it but I want to make sure they aren't low ball me with the numbers (also should i take the firts offer?).I checked kellys blue book but is kind of confusing cus it talks about trade in value, private and retail so don't know which one of those is the right one.

http://www.kbb.com/KBB/UsedCars/Pric...izConditions=0

http://www.nadaguides.com/default.as...141&da=-1&nx=1

Also if there is any insurance people that can tell me if there is any way to offer the insurance some money for the car and fix it with the money that they give me. (like what body shops do they offer to buy the car to the insurance)

Thanks for any advice.

Thanatos.

**turbocad6** · 05-03-2007, 12:11 PM

usually if it's totaled, you can keep it & they deduct like 10 or 15% for the "salvage value", as the owner of the car to begin with, you may be able to buy it & keep a "clean tittle", but more & more often they will want to "brand" the tittle as a salvage... technically they are required to do that, but often don't.... that would be a big determining value of weather you really want to keep it or not, if they force you to send in the tittle then I'd say really think twice about buying it back, cause after it's done, the value is significantly less than a non salvage tittle car...

the insurance co is supposed to pay fair market value at RETAIL, & there is usually room for negotiations, the best way to negotiate this is to find adds for comperable vehicles being sold by dealers & average them out, if it's siginficantly more than there offering you can bump it up that way...

**MatrixPC** · 05-03-2007, 01:13 PM

One of my coworker got an Expedition totaled (someone hit him). The insurance paid him much more than retail value (about 3K over base on local average sale add and kbb.) Why you ask? He keep every freaking service receipts and an excel log of the service history.
He said, if he sale that truck, the most he get probably about 3K less than average. Just a piece of paper save him 6K. Well basically, he is a human recorder. He wrote every freaking thing going on in meeting ....If you want to know what going on in the meeting years ago, he is the one to ask.

Oh one more thing. Whatever the insurance pay you, you should add sale tax on top of it. For example sale tax is 7% and they pay you 10K for the truck. You check should be 10K + 7% = 10.7K. Why? Well, if you go out and buy a replacement car at 10K, your total out of pocket will be 10.7K and that is what the insurance should paid you.

**turbocad6** · 05-03-2007, 02:02 PM

yeah, forgot to mention the tax, but that don't apply I think if you keep it, usually you will get more totaling a car then selling it, unless it's an old car or **** insurance... documentation of added stuff helps alot, general maintanance not so much really, but it can help in determining the overall condition, can't hurt for sure....

usually, when I want to keep a car, it's a lot easier to get the adjuster to just max it out to a hair under totaled, then the tittle stays non salvage for sure & it's usually easier all around.... but you gotta weigh how much you really want to keep it, usually it's best to just let it go & get all the money, unless you can fix it yourself

**volleyballmania** · 05-11-2007, 04:29 AM

To reiterate what Turbocad said:

It is standard procedure for agencies to take-over the Title after a car is 'totalled'
Retail Value is the price you should be looking at on KBB.com

I wanted to add that his last suggestion, having the adjuster max out the claim under the 'totalled' ceiling, might work, but you really are up to the whim of the adjuster.

What you can do is to get several mechanics (at least) to give you repair estimates for just under the 'totalled' vehice ceiling. Usually two is enough. Then you hand these to the adjuster, and he just might not even bother to check with their standard mechanics, as to the cost of repair. I've personally done this myself, because I did want to lose my vehicle.

However, if you do decide to buy a new vehicle, consider this list of the cheapest cars to insure (in Austin). The list applies to anywhere in the States. I just so happened to put it in an article for Austin Texas Car Insurance.

**thanatos106** · 05-11-2007, 12:39 PM

Ok guys a little update on my case:

We finally came with a number for the settlement but now they want to pay me state taxes for the car ONLY when I buy a car (so if I buy a $500 pice of crap car they going to reimburse me 6% of that price) so don't know what to do the adjuster say that she can't do nothing for me, that I need to call her supervisor to talk about this (I already did but he was available so I'm wating to get a cal from him)

Any input is highly appreciate it.

Thanatos.

**turbocad6** · 05-11-2007, 01:48 PM

that's total bull****, no way... they have to do the value of the car you lost regardless, ask them if you bought a 40K car would they do all the tax on that?!?!?

**thanatos106** · 05-11-2007, 02:36 PM

My real problem is that they say that taxes money won't be on my settlement check but that they reimbuse it when I buy a car (what about if I invest my money in something else and don't buy a car? I will never see the money for the taxes!!!)

Also she that I don't have to buy the car right now, that it can be ten years from now!!!....hahaha what about if they go down in 2 years, who is going to pay for it? what a joke!

Thanatos.

**turbocad6** · 05-11-2007, 03:57 PM

I never heard of such a thing... might be worth looking into if there allowed to even do that... it don't sound right at all

**greatwhite** · 05-11-2007, 04:20 PM

Am I understanding this right?

when the insurance company cuts you a check for your loss, they pay the taxes on your new purchase?

Man, I wish it worked that way in canada! We get the check fro the market value of the vehicle and then whatever you buy is your problem for taxes.

Cheers

BJ