by mcrollin5 » Tue Mar 10, 2009 11:25 am
hi all. just have a question on my totaled car.i have a 96 trans am it was rear-ended the car still runs and drives perfect but they say the cars only worth $4200 witch will pay the lein holder off.But will not help me as i will be out of a car and the money i put down i only had the car for two weeks and maybe put 200 miles on it.So my question is in Florida how can i work this out with the insurance company so that i can get the $1700 i put down.because they sure dont seem to want to make me whole agian.i would keep the car as i can repair the damage but they said its a total loss and i could not register the car to drive .please can someone help me it sounds like im screwed on this whole deal :(
Posted: Wed Mar 11, 2009 10:47 am Post Subject:
guess the question was to hard for all you insurance brainiacs thanks for being so helpfull NOT!!!!!
Posted: Thu Mar 12, 2009 11:19 am Post Subject:
Hi Mc, I think you needed to be little patient with the community members. Some of them might have missed this query. Hope you would come back at least one more to check the replies.
However, the following thread might prove useful to you. Check out the replies there.
http://www.ampminsure.org/claims/totalled-purchase.html
~Jeremy
Posted: Thu Mar 12, 2009 11:24 am Post Subject:
Regarding keeping the totaled vehicle, some of the insurer might agree to it. Hence, you need to discuss the matter with them. However, since you have lien on the car the consent of the financier is also required.
I'm guessing that you have filled the claim under the collision coverage. If that is the case, the insurer is required to safeguard the interest of the lien-holder and therefore, would direct the claim check to them. Now, if they allow you to retain the vehicle, they would issue the claim check deducting the salvage value and the deductible.
~Jeremy
Posted: Thu Mar 12, 2009 02:33 pm Post Subject:
Hey hey simmer down McCrollin5, geeeeeeeze .........
The carrier owes you the ACV (actual cash value) of your vehicle no more no less..I'd be happy to run a value for your if you let me know 'which' fire chicken you have...also need to know options and mileage....off the top of my head though 4200 does sound fair..the insurance company will need to provide you with the means in which they determined this value...now let's say for the sake of argument you over paid for it...that doesn't mean they owe you what you paid...transversely if you got one heck of deal and paid 500 bucks, they still owe you the ACV (which apparently they have determined thus far at 4200.00)....
I assume since you were rearended it is the other company (not your own) that is handling this...I further assume since you have a lein on your vehicle you HAVE to have collision coverage...it definately would be worth having your company also work up an ACV to see if their is higher...
Any more questions please don't hesitate to ask, but seriously getting so pissed because less than 24hours has elapsed before you got an answer...take a breath, most of us have 'real' jobs too.. :wink:
Posted: Fri Mar 13, 2009 03:41 pm Post Subject:
I would guess he over paid for the vehicle. If the value is only $4200 they can not pay anymoer than that. I would look over the paperwork they send you and see if anything was missed. That being said before purchasing a vehicle always look up its blue book value to be sure you are not being over charged. Sometimes this alone can get you a good deal. Just some friendly advice.
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