Insurance Questions...

[Zysoclaplem]

Okay. I was in an accident on March 30th, last Wednesday. The police report has been filed, and I contacted the guys insurance company on the 31st, the Thursday after. Friday, they had a guy come out, take pictures, get an estimate on the damage...etc..etc..

So now I am being told that the guy's insurance company won't be getting back to me for 8-10 working days. He said, "Expect a call next monday." Meaning Monday, the 11th of April.
I was not at fault in this accident, and I want my car fixed now. As it is, it will probably take a week for the body work. Is this just the insurance company delaying things?

Also, I do not want my car plastered with bondo. Is it within my rights in this situation to say I
don't want the car covered in bondo? I don't know if they will or won't. He rear ended me, and did alot of damage to my rear quarter panel.

Thanks.

 

[SynthDude2001]

When I was rear-ended last August, I had a check for $2500 in my hands within two weeks. The car was totalled and that was its value, so obviously your situation will vary a bit - mine was probably a best-case scenario, ever. Just keep calling the insurance company, be persistent I guess.

Good luck.

 

[StageLeft]

Did you ask them how long it normally takes and express concern at the fact that your vehicle is broken NOW? What did they say?

 

[Zysoclaplem]

Originally posted by: Skoorb
Did you ask them how long it normally takes and express concern at the fact that your vehicle is broken NOW? What did they say?

I am going to call them this morning and try to get a claim number so I can take it to the best body shop in town and get a quote. The thing is, how long does it take to get all this sh!t together? I mean, the police report was filed last wednesday, the insurance company got all the info, and the adjustor guy came out and did his thing friday, and contacted them with the info same day. There should be no problem giving me a claim number so I can take it to the body shop and have them fix my car.

 

[Kelemvor]

I'd call them up and let them know that since your car is unusable (if it is) that you will be needing the estimate within 24 hours or you will need to be reimbursed the cost of a rental car while they figure it out. I'd also call your own insurance company and ask them what they think sounds reasonable for timing.

 

[Zysoclaplem]

Well I called, and my claim hasn't been processed yet. I asked if they know when it will be finished. They don't know. I said I will call be in a little bit to check on it again. She was real nice, but she obviously wasn't the person who deals with that stuff. She just told me what she knew.

 

[FoBoT]

8-10 working days doesn't seem unreasonable. you can ask for them to pay for a rental, or if your insurance covers the rental cost then use that.

 

[Argo]

This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

 

[Zysoclaplem]

Originally posted by: FoBoT
8-10 working days doesn't seem unreasonable. you can ask for them to pay for a rental, or if your insurance covers the rental cost then use that.

Unreasonable for what? How much goes into processing a claim?

That 8-10 days doesn't include another week in the body shop. That's just them getting back to me about the claim. Then I have to take it to the shop.

 

[SynthDude2001]

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

In that case, you should make sure that you're getting the full value of the car before you accept the check. Find some proof of what the car's actually worth (dealer quotes, or whatever) - from more than one place - and show that to the insurance company.

If you accept $25k when you should really be getting $30k, it's basically your fault.

(This is my understanding...someone correct me if I'm wrong.)

 

[StageLeft]

Originally posted by: SynthDude2001

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

In that case, you should make sure that you're getting the full value of the car before you accept the check. Find some proof of what the car's actually worth (dealer quotes, or whatever) - from more than one place - and show that to the insurance company.

If you accept $25k when you should really be getting $30k, it's basically your fault.

(This is my understanding...someone correct me if I'm wrong.)

You're right. They need to pay, if it was his fault, whatever your car is worth now, regardless of what you owe on it.

 

[Argo]

Originally posted by: SynthDude2001

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

In that case, you should make sure that you're getting the full value of the car before you accept the check. Find some proof of what the car's actually worth (dealer quotes, or whatever) - from more than one place - and show that to the insurance company.

If you accept $25k when you should really be getting $30k, it's basically your fault.

(This is my understanding...someone correct me if I'm wrong.)

Yeah, but each car has 2 different sell values:

1) Trade in value
2) Private party value

Which one do you get? The difference between the two can be very significant, in my case it's almost $3000.

 

[FoBoT]

how long do you think is "normal" to get a car fixed after an accident? most cases i have heard of it takes about a month total between getting all the paper work done and then having it fixed.

good luck on getting your car fixed in 3 days

 

[Vic]

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

You're entitled to the $30k. The law requires that you be compensated for the monetary value pre-loss. So if it's worth $30k legitimately, then you're entitled to the $30k.

The timeframe is reasonable, believe it or not. Call them back up and insist on a rental car immediately. Whether or not your own coverage may or may not include rental would be irrelevant, their insured was clearly at fault and they are paying for your damages, which include time without transportation while your vehicle is disabled.

You're also entitled to restoration to pre-loss condition. You get to pick the body shop and (within reason) control the quality of the repairs. The other insurance might recommend a body shop but that does not mean you have to use them.

 

[Confused]

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

The problem is that most cars drop a few k as soon as you drive them off the lot.

The downfalls of buying a new car.

 

[jemcam]

The insurance company is obliged to return your car to pre loss condition relative to safety, function and appearance by law.

Plastic body filler is in your car as it came from the factory at quarter panel seams, rocker panel seams, etc. The filler should only be a couple of mils thick and if you take your car to any quality body shop, they will tell you that it is impossible to repair or replace any welded on panel without the use of some fillers.

I suggest you educate yourself at the bodyshop of your choice. If you are unhappy with the estimate from the at-fault parties insurance company, you can always make a claim through your own company and they will subrogate.

The extent of your damage will dictate whether or not a panel or parts are to be repaired or replaced.

 

[Vic]

Originally posted by: Argo

Originally posted by: SynthDude2001

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

In that case, you should make sure that you're getting the full value of the car before you accept the check. Find some proof of what the car's actually worth (dealer quotes, or whatever) - from more than one place - and show that to the insurance company.

If you accept $25k when you should really be getting $30k, it's basically your fault.

(This is my understanding...someone correct me if I'm wrong.)

Yeah, but each car has 2 different sell values:

1) Trade in value
2) Private party value

Which one do you get? The difference between the two can be very significant, in my case it's almost $3000.

Neither.

RETAIL.

The actual replacement cost, i.e. what it will cost YOU to replace the vehicle.

And if the vehicle is still for sale as brand new within the model year, you're entitled to full MSRP minus reasonable mileage depreciation (usually 10-12 cents/mile) for actual miles driven.

If you're getting jacked, I think you need to consult an attorney.

 

[SynthDude2001]

Originally posted by: Argo

Originally posted by: SynthDude2001

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

In that case, you should make sure that you're getting the full value of the car before you accept the check. Find some proof of what the car's actually worth (dealer quotes, or whatever) - from more than one place - and show that to the insurance company.

If you accept $25k when you should really be getting $30k, it's basically your fault.

(This is my understanding...someone correct me if I'm wrong.)

Yeah, but each car has 2 different sell values:

1) Trade in value
2) Private party value

Which one do you get? The difference between the two can be very significant, in my case it's almost $3000.

I forget how they determined the value when they cut me a check for my car (it's been over six months ago now). It was very fair in my case though - even with pre-existing damage not related to the accident (most notably a cracked windshield), they gave me only $200 less than my dad had paid for the car a year or two earlier.

I would tend to think that they need to pay you whatever it would cost to replace it, since this is its effective value (assuming you just drove it off the lot, it should be at or damn near the full purchase price, assuming it was reasonable in the first place).

Some of this is guessing though, so I'll wait for others to chime in and tell me I've got things mixed up.

Edit: I see that my post is similar to Vic's, so at least I'm not totally misinformed.

 

[jemcam]

Originally posted by: Confused

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

The problem is that most cars drop a few k as soon as you drive them off the lot.

The downfalls of buying a new car.

Agreed, all auto policies that I know of state they only owe for actual cash value. That means the amount you would have to pay for a car that was in identical pre-loss condition. If your hypothetical car had 500 miles on it, it's no longer a new car since it's been registered and driven on the road. It's no longer a new car, it's used. That's why "demos" are less than new cars on the showroom floor.

 

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

(This is my understanding...someone correct me if I'm wrong.)

Ok, you're wrong.
It's called "gap insurance". It covers the immediate depreciation of the car when you drive it off the lot.

Op, insurance companies love to drag their feet when they have to pay out money. Expecting to have your claim taken care of in anything less than 1-2 weeks is foolish. In the meantime you should take your car to multiple body/repair shops and get independent estimates. Make sure the estimates are for NEW OEM parts. Most insurance policies will state that the car is to "be returned to the condition it was in prior to the accident", so slathering it in bondo should not be acceptable.

If the car is unsafe to drive, you should be inquiring about receiving a rental car. Most insurance carriers offer rental car reimbursement on their policies. You may want to call YOUR insurance carrier and see if you are covered for that, and then see if you can use your coverage to get a rental car.

I wrecked my new subaru to the tune of $8,500 last winter. It took approx. 1.5 months from the time of the accident to me having my car back in mint condition.

 

[Argo]

Originally posted by: Vic

Originally posted by: Argo

Originally posted by: SynthDude2001

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

In that case, you should make sure that you're getting the full value of the car before you accept the check. Find some proof of what the car's actually worth (dealer quotes, or whatever) - from more than one place - and show that to the insurance company.

If you accept $25k when you should really be getting $30k, it's basically your fault.

(This is my understanding...someone correct me if I'm wrong.)

Yeah, but each car has 2 different sell values:

1) Trade in value
2) Private party value

Which one do you get? The difference between the two can be very significant, in my case it's almost $3000.

Neither.

RETAIL.

The actual replacement cost, i.e. what it will cost YOU to replace the vehicle.

And if the vehicle is still for sale as brand new within the model year, you're entitled to full MSRP minus reasonable mileage depreciation (usually 10-12 cents/mile) for actual miles driven.

If you're getting jacked, I think you need to consult an attorney.

Cool - thanks. I always wondered about that detail. My question was purely hypothetical, btw.

 

[Vic]

Originally posted by: jemcam

Originally posted by: Confused

Originally posted by: Argo
This thread brings up a good question. Let's say you drive a $30,000 (let's say you just bought it, so no depreciation there) car and some bozo hits and totals it. His insurance sends you a check for $25,000. Is there anything you can do, or are you just out $5,000?

The problem is that most cars drop a few k as soon as you drive them off the lot.

The downfalls of buying a new car.

Agreed, all auto policies that I know of state they only owe for actual cash value. That means the amount you would have to pay for a car that was in identical pre-loss condition. If your hypothetical car had 500 miles on it, it's no longer a new car since it's been registered and driven on the road. It's no longer a new car, it's used. That's why "demos" are less than new cars on the showroom floor.

I've been through this. I had a brand new car with 3k miles on it totalled several years back. Still within the model year. The insurance company tried to jack me but I fought it and won easily. The law is MSRP minus mileage, i.e. actual consumer replacement cost pre-loss.

 

[SynthDude2001]

Originally posted by: SampSon

(This is my understanding...someone correct me if I'm wrong.)

Ok, you're wrong.
It's called "gap insurance". It covers the immediate depreciation of the car when you drive it off the lot.

Ah ok...yeah, I didn't even think about the immediate depreciation at all. Of course, I've never bought a new car either and don't intend to for a very long time, so at least I have an excuse.

 

Originally posted by: SynthDude2001

Originally posted by: SampSon

(This is my understanding...someone correct me if I'm wrong.)

Ok, you're wrong.
It's called "gap insurance". It covers the immediate depreciation of the car when you drive it off the lot.

Ah ok...yeah, I didn't even think about the immediate depreciation at all. Of course, I've never bought a new car either and don't intend to for a very long time, so at least I have an excuse.

Also read Vic's posts. Though keep in mind that the rules change from state to state and from insurance carrier to insurance carrier.

 

[SynthDude2001]

Originally posted by: SampSon

Originally posted by: SynthDude2001

Originally posted by: SampSon

(This is my understanding...someone correct me if I'm wrong.)

Ok, you're wrong.
It's called "gap insurance". It covers the immediate depreciation of the car when you drive it off the lot.

Ah ok...yeah, I didn't even think about the immediate depreciation at all. Of course, I've never bought a new car either and don't intend to for a very long time, so at least I have an excuse.

Also read Vic's posts. Though keep in mind that the rules change from state to state and from insurance carrier to insurance carrier.

Yeah. Lots of good information in here. :beer: