Need some direction on settling near coupé insurance?
My car was stolen from my driveway, the motor was located the next year in a pond. Front body damage, smashed porthole glass, front tires flat, the front half be submerged but not completely over the engine and up to the cup holders inside. There is water in the grease and the gas cap was rotten so something probably happened there. The flat tires be completely bald so I am sure there is clutch defacement. The insurance company is coming to get it and take it to a savage patio for assessment of the damages. Either it's totaled or not but either way I am sure I will not find what it's worth, it's their business to make money. What can I do to be prepared? How do they determine the value? The sports car had upgraded stereo, exhaust, tint, iPod adapter, etc... All electronic equipment was stolen. It's a 2000 Honda Civic EX coupe within excellent condition. Thanks for any help you can give.
Answers:
Honey, I am really sorry to hear your story. I know it hurts to see so much damage on your car. You will own to file a salvage title on your car for sure near this much damage. Also your insurer will pay you the amount the represents the merit of your car today. That is you will lose some money since the value of the sports car will have depreciated a bit. Goto kelly blue book and enter your car features and model and it will show you your cars current convenience. If your insurance company is using any other scale of measurement, ask them this information contained by writing. I hope and pray everything will get settled soon and well contained by your favour. Good luck sweetie
Hiya:
Not sure why you are 'sure' you are not going to obtain paid what the car is worth.
Insurance companies are REQUIRED to salary what the vehicle is worth.
Most of the time? People think they don't get what the vehicle is worth because they hold the WRONG impressions about what a car is worth. ::shrug:: it's the truth.
So - what is your coupé worth and how is the insurance company going to figure it out?
Your car is worth its souk value. That is - what your vehicle COULD HAVE sold for in your local flea market before the accident.
The insurance companies are going to determine this by examining your vehicle to determine what variety of condition it is in. Did you have plentifully of trash in your car? Were here cigarette burns in the seat? What condition be the paint job? Those kinds of things step into evaluating the condition of the car.
They will also do a market survey/search. This technique they will contact local sellers selling the same make/model of vehicle you have to see what they are selling their vehicles for. They will look at the classifieds, the trader mags, check with dealer....get the picture?
They can not just come up near an arbitrary number. They can NOT use "book" value. They can consider it - but it can NOT be the sole determining factor. (Most people ponder the book value is what they should get or what they are entitled to. Not. So.)
So - when they construct you an offer - ask what the offer take into account. They do not owe you for an iPod adapter - that is considered personal property. You can brand name a claim on your renter's/owner's home policy (is it WORTH it? probably not). They only owe you...the car. They do not owe you for an exhaust. Cars are supposed to come near an exhaust. If you had a special-make-your-car-louder exhaust? Your car will in reality be worth less. Why? In your local market - unless everyone have a loud car - most people don't want a loud vehicle and as such - the resale appeal would appeal to fewer people and enjoy a lower value. Makes sense, right?
If you don't agree with what they present you - you can do your own research and provide them with documentation as to why you think your vehicle is worth more. They will absolutely be willing to listen but again - just because you THINK you have a hot high priced vehicle? Sometimes reality does not work out that agency.
Goodluck.
~jifr! Source(s): Insurance professional 10+ years
show receipts for adjectives your extras
or find prices for the add ons
good luck
dont rob the first offer they may come back next to a higher one
also look at kelly blue book to see actual value
flawless luck Source(s): mechanic
It will no doubt total.
Actual lolly value of the vehicle is non-negiotable. It is what it is.
First off.. let get one thing clear.. NONE OF THOSE UPGRADES are covered. Thats written into your policy. If you capture upgrades to your car you have to procure additional covered with your insuarnce to cover them.. which im assuming you didnt. When you insured your sports car.. you insured a factory 2000 honda civic ex... please accept now that adjectives that aftermarket stuff will not be considered. and there is nothing you can do just about that.
Now... to find what your car is worth go to nada.com and rob a look. Thats what the majority of companies use.
If you arent happy with yoru settlement amount.. you can check similar cars surrounded by your area and what they are going for and you can argue that.. however.. there is terrifically little room to budge.
Be reasonable and so will they. As an adjuster, of course i dont want to clear someone more then there coupé is worth... in this world it just seem that everyone thinks "their precious car" is worth so much more then it really is. I dont want to rip anyone rotten.. just give them what they are in fact owed.
Sorry to hear just about your car being stolen. That sucks no event what. Ok, so let's get to it. Yes, you're probably right, you won't get what the coupé is worth. They will look at what the current book value is for your car. As for your upgrades, if you hold receipts for all that stuff, it may be taken into consideration, but remember this for future refrences: If you do upgrades or affix extras to your car, take your receipts to your insurance agent, steal before and after pictures, etc. and have him/her put it contained by your file as proof. Hope this helps, and I hope everything works out for you. Source(s): I work for Allstate
I DON'T THINK THAT THE INSURANCE COMPANY WILL TAKE ADVANTAGE OF YOU BECAUSE BY LAW THAT HAVE TO PAY YOU THE FAIR MARKET VALUE OF YOUR VEHICLE.
BUT AS STATED ABOVE, IF YOU HAD ANYTHING OF VALUE IN THE CAR, IF YOU HAD ANY REPAIRS DONE WITHIN THE PAST 18 MONTHS OR ANY UPGRADES DONE TO YOUR VEHICLE THEY WILL TAKE ALL THAT AND DO THEIR BEST TO MAKE YOU A HAPPY PERSON AGAIN, BUT HAVING YOUR RECEIPTS WILL HELP.
I SEE IT EVERYDAY, MOST INSURANCE COMPANIES DO THEIR BEST AND SOME GO WAY BEYOND.
AS FOR THE VEHICLE UNDERWATER, THEY WILL TOTAL IT OUT BECAUSE THIS WILL FOREVER BE A LIABILITY TO THEM. Source(s): 923
Insurance companies are required to pay what the vehicle is worth. I found interesting information about your answer here. Goodhttp://all-car-insurance.blogspot.com/ G… luck!
Related Questions:
Answers:
Honey, I am really sorry to hear your story. I know it hurts to see so much damage on your car. You will own to file a salvage title on your car for sure near this much damage. Also your insurer will pay you the amount the represents the merit of your car today. That is you will lose some money since the value of the sports car will have depreciated a bit. Goto kelly blue book and enter your car features and model and it will show you your cars current convenience. If your insurance company is using any other scale of measurement, ask them this information contained by writing. I hope and pray everything will get settled soon and well contained by your favour. Good luck sweetie
Hiya:
Not sure why you are 'sure' you are not going to obtain paid what the car is worth.
Insurance companies are REQUIRED to salary what the vehicle is worth.
Most of the time? People think they don't get what the vehicle is worth because they hold the WRONG impressions about what a car is worth. ::shrug:: it's the truth.
So - what is your coupé worth and how is the insurance company going to figure it out?
Your car is worth its souk value. That is - what your vehicle COULD HAVE sold for in your local flea market before the accident.
The insurance companies are going to determine this by examining your vehicle to determine what variety of condition it is in. Did you have plentifully of trash in your car? Were here cigarette burns in the seat? What condition be the paint job? Those kinds of things step into evaluating the condition of the car.
They will also do a market survey/search. This technique they will contact local sellers selling the same make/model of vehicle you have to see what they are selling their vehicles for. They will look at the classifieds, the trader mags, check with dealer....get the picture?
They can not just come up near an arbitrary number. They can NOT use "book" value. They can consider it - but it can NOT be the sole determining factor. (Most people ponder the book value is what they should get or what they are entitled to. Not. So.)
So - when they construct you an offer - ask what the offer take into account. They do not owe you for an iPod adapter - that is considered personal property. You can brand name a claim on your renter's/owner's home policy (is it WORTH it? probably not). They only owe you...the car. They do not owe you for an exhaust. Cars are supposed to come near an exhaust. If you had a special-make-your-car-louder exhaust? Your car will in reality be worth less. Why? In your local market - unless everyone have a loud car - most people don't want a loud vehicle and as such - the resale appeal would appeal to fewer people and enjoy a lower value. Makes sense, right?
If you don't agree with what they present you - you can do your own research and provide them with documentation as to why you think your vehicle is worth more. They will absolutely be willing to listen but again - just because you THINK you have a hot high priced vehicle? Sometimes reality does not work out that agency.
Goodluck.
~jifr! Source(s): Insurance professional 10+ years
show receipts for adjectives your extras
or find prices for the add ons
good luck
dont rob the first offer they may come back next to a higher one
also look at kelly blue book to see actual value
flawless luck Source(s): mechanic
It will no doubt total.
Actual lolly value of the vehicle is non-negiotable. It is what it is.
First off.. let get one thing clear.. NONE OF THOSE UPGRADES are covered. Thats written into your policy. If you capture upgrades to your car you have to procure additional covered with your insuarnce to cover them.. which im assuming you didnt. When you insured your sports car.. you insured a factory 2000 honda civic ex... please accept now that adjectives that aftermarket stuff will not be considered. and there is nothing you can do just about that.
Now... to find what your car is worth go to nada.com and rob a look. Thats what the majority of companies use.
If you arent happy with yoru settlement amount.. you can check similar cars surrounded by your area and what they are going for and you can argue that.. however.. there is terrifically little room to budge.
Be reasonable and so will they. As an adjuster, of course i dont want to clear someone more then there coupé is worth... in this world it just seem that everyone thinks "their precious car" is worth so much more then it really is. I dont want to rip anyone rotten.. just give them what they are in fact owed.
Sorry to hear just about your car being stolen. That sucks no event what. Ok, so let's get to it. Yes, you're probably right, you won't get what the coupé is worth. They will look at what the current book value is for your car. As for your upgrades, if you hold receipts for all that stuff, it may be taken into consideration, but remember this for future refrences: If you do upgrades or affix extras to your car, take your receipts to your insurance agent, steal before and after pictures, etc. and have him/her put it contained by your file as proof. Hope this helps, and I hope everything works out for you. Source(s): I work for Allstate
I DON'T THINK THAT THE INSURANCE COMPANY WILL TAKE ADVANTAGE OF YOU BECAUSE BY LAW THAT HAVE TO PAY YOU THE FAIR MARKET VALUE OF YOUR VEHICLE.
BUT AS STATED ABOVE, IF YOU HAD ANYTHING OF VALUE IN THE CAR, IF YOU HAD ANY REPAIRS DONE WITHIN THE PAST 18 MONTHS OR ANY UPGRADES DONE TO YOUR VEHICLE THEY WILL TAKE ALL THAT AND DO THEIR BEST TO MAKE YOU A HAPPY PERSON AGAIN, BUT HAVING YOUR RECEIPTS WILL HELP.
I SEE IT EVERYDAY, MOST INSURANCE COMPANIES DO THEIR BEST AND SOME GO WAY BEYOND.
AS FOR THE VEHICLE UNDERWATER, THEY WILL TOTAL IT OUT BECAUSE THIS WILL FOREVER BE A LIABILITY TO THEM. Source(s): 923
Insurance companies are required to pay what the vehicle is worth. I found interesting information about your answer here. Goodhttp://all-car-insurance.blogspot.com/ G… luck!
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