a car made an illegal u turn and hit my car and was sited at the site by police and the drivers license was suspended. why am i offer 75% payout on a total loss.
Total Comments: 8
Posted: Wed Dec 10, 2008 06:04 pm Post Subject:
I don't know that anyone except the adjuster making the offer can answer that question. I'm betting they have explained why. If not... ask.
Posted: Thu Dec 11, 2008 04:16 am Post Subject:
I would be unhappy as well. How are you getting 75%, where is this number coming from? I just wander if you are looking at a value in which no insurance company would are consider paying out. However, don't panic and take any deal you don't think is fair, get help from an attorney or advise at the very least to help you get all the money you deserve.
Posted: Thu Dec 11, 2008 04:33 am Post Subject:
Hey queen, the information is very limited to given an answer. Please, explain the issue in detail. 75% of what value have you been offered as the settlement value? Is it the actual cash value of the car? or something else?
You must understand that the insurance company owes you only the actual cash value of the vehicle and not the amount that you have paid in buying it. The value of the vehicle depreciates with time and therefore you may not receive what you have paid for it initially.
Posted: Thu Dec 11, 2008 06:15 am Post Subject:
However, don't panic and take any deal you don't think is fair, get help from an attorney or advise at the very least to help you get all the money you deserve.
In 20 some years I've only heard of one attorney who addressed property damage. Of course, the OP can pay hundreds of dollars to an attorney to find out why the 75% offer. Or the OP could simple ask.
I always question people who think getting an attorney is the magic bullet to _every_ situation not matter how small. I guess it's an easy answer when you don't really understand what is going on.
Posted: Thu Dec 11, 2008 06:26 am Post Subject:
OP- could you tell us what you mean when you say
75% payout on a total loss
75% of what? I'm not sure what you're referring to here.
InsTeacher 8)
Posted: Thu Dec 11, 2008 11:02 pm Post Subject:
Sounds to me like one of two things...1) found OP 25% negligent in the accident or 25% is the salvage value you she is retaining salvage for some reason...maybe no clear title?
OP WHAT EXACTLY was the reason othey gave you, becasue they HAD to give you the reason.
juston, take a breath dude.
Posted: Mon Apr 13, 2009 01:49 pm Post Subject: Settlement Value
I am currently doing an assignment and one of the questions is what is the difference between Trade, Market, Retail and Settlement Value. I know what the first three are but dont know how to explain the settlement value. could you please kindly help.
Thank you!
Hi There. The below question has also one which was posed in my assignment. I am totally clueless and cant find anything on the enternet in this regard. Could you please help?
A beauty therapist has bought a 16 Seater Toyota Venture which she uses to drop & collect some of her elderly clients charging them a minimal fee of R10 a retuen trip. Could you kindly please advise the licensing requirements that need to be followed. What are the penalties for non-compliance of the appropriate licensing procedures?
Posted: Wed Dec 10, 2008 06:04 pm Post Subject:
I don't know that anyone except the adjuster making the offer can answer that question. I'm betting they have explained why. If not... ask.
Posted: Thu Dec 11, 2008 04:16 am Post Subject:
I would be unhappy as well. How are you getting 75%, where is this number coming from? I just wander if you are looking at a value in which no insurance company would are consider paying out. However, don't panic and take any deal you don't think is fair, get help from an attorney or advise at the very least to help you get all the money you deserve.
Posted: Thu Dec 11, 2008 04:33 am Post Subject:
Hey queen, the information is very limited to given an answer. Please, explain the issue in detail. 75% of what value have you been offered as the settlement value? Is it the actual cash value of the car? or something else?
You must understand that the insurance company owes you only the actual cash value of the vehicle and not the amount that you have paid in buying it. The value of the vehicle depreciates with time and therefore you may not receive what you have paid for it initially.
Posted: Thu Dec 11, 2008 06:15 am Post Subject:
However, don't panic and take any deal you don't think is fair, get help from an attorney or advise at the very least to help you get all the money you deserve.
In 20 some years I've only heard of one attorney who addressed property damage. Of course, the OP can pay hundreds of dollars to an attorney to find out why the 75% offer. Or the OP could simple ask.I always question people who think getting an attorney is the magic bullet to _every_ situation not matter how small. I guess it's an easy answer when you don't really understand what is going on.
Posted: Thu Dec 11, 2008 06:26 am Post Subject:
OP- could you tell us what you mean when you say
75% payout on a total loss
75% of what? I'm not sure what you're referring to here.
InsTeacher 8)
Posted: Thu Dec 11, 2008 11:02 pm Post Subject:
Sounds to me like one of two things...1) found OP 25% negligent in the accident or 25% is the salvage value you she is retaining salvage for some reason...maybe no clear title?
OP WHAT EXACTLY was the reason othey gave you, becasue they HAD to give you the reason.
juston, take a breath dude.
Posted: Mon Apr 13, 2009 01:49 pm Post Subject: Settlement Value
I am currently doing an assignment and one of the questions is what is the difference between Trade, Market, Retail and Settlement Value. I know what the first three are but dont know how to explain the settlement value. could you please kindly help.
Thank you!
Posted: Mon Apr 13, 2009 01:58 pm Post Subject: Licensing procedures
Hi There. The below question has also one which was posed in my assignment. I am totally clueless and cant find anything on the enternet in this regard. Could you please help?
A beauty therapist has bought a 16 Seater Toyota Venture which she uses to drop & collect some of her elderly clients charging them a minimal fee of R10 a retuen trip. Could you kindly please advise the licensing requirements that need to be followed. What are the penalties for non-compliance of the appropriate licensing procedures?
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