by Guest » Sun Apr 19, 2009 07:32 pm
i was in a car accident caused by drunk driver and my car seems totaled i am not sure if the insurance company is going to fix it or just pay it off but if it decides to give a certain amount of money will it include the accesories i added to the car like rims, lights, motor parts etc...?? its a 2002 honda civic with 120K can someone give me an estimate of what the car is worth....one more question is my insurance going up because of this???
Posted: Sun Apr 19, 2009 07:58 pm Post Subject:
If you have documentation (reciepts)of all of the accessories that you added to make the car more valuable I would have these on hand to show to the insurance co. You can make copies of the reciepts just in case the insurance co wants them. Chances are they may take not of all the additions without this, but it is always good to have this stuff on hand to show them.
Posted: Mon Apr 20, 2009 03:42 am Post Subject:
This is what i found for related to the ACV of the vehicle.
Your vehicle's value is typically determined by comparing your vehicle's condition to similar vehicles. This may include input from local auto dealers, private parties and/or recent sales. Condition, equipment and mileage differences are also taken into consideration. All auto policies are written for ACV. Because of the generally large availability of used vehicles, auto settlement values are usually determined by similar vehicles available in the market. ACV is based on the cost to replace with a new comparable item, less depreciation based on the age of the lost or damaged item. Replacement cost equals a new item's cost without depreciation
Regarding the second question if you have several claims in the past 1 year then it could affect your premium, but as far as in this condition, you are not in fault and thus it will not affect the premium.
Posted: Mon Apr 20, 2009 08:25 am Post Subject:
Hi Clt, as Chad has mentioned let the insurer know about the items that you have added to the vehicle. Though those parts wouldn't add much value to the car is its decided totaled but would definitely add some more money to the totaled value. Further, if the car is deemed totaled you would also be entitled to receive the sales tax on it.
However, I'm not sure if you are referring to a third party claim i.e. following-up the claim with the drunk driver's insurer or dealing with your own carrier. Please, clarify it to us so that we can offer further help.
~Jeremy
Posted: Mon Apr 20, 2009 08:31 am Post Subject:
Assuming that you have filed through your insurer the rate may not go up since the accident wasn't your fault. But every insurance company would apply their own logic in determining the rate change.
However, was the responsible driver uninsured? which state are you in?
Posted: Sat May 02, 2009 05:48 pm Post Subject:
In your case it wasn't your fault so they will pay the damage at your car. Do you get hurt? Then they will pay that, too.
Posted: Sat May 02, 2009 08:07 pm Post Subject:
will it include the accesories i added to the car
some maybe but not 100%like rims
no,lights,
nomotor parts etc...??
no...none of these things add to the ACV of your vehicle...its a 2002 honda civic with 120K can someone give me an estimate of what the car is worth
based on the very limited information you have given, (no options, motor, tranny etc)...I'm getting right around $ 7,000.00 but that could be completely off because I do not have all the information on your vehicle, you can check yourself on NADA.COM, or edmunds..(KBB, won't help you)...also if your vehicle had any UNREPAIRED prior damage, that too will reduce it's value....one more question is my insurance going up because of this???
If it is decided that you were not at fault for this accident, (thus non-chargeable) then you cannot be rated up for it...Add your comment