by Guest » Mon May 12, 2008 02:06 pm
My sister was involved in an auto accident almost 2 weeks ago. She was hit from behind by a NJ guy who was following too closely. He received a citation in the accident. My sister has just found out that her car was a total loss. Now what does she do? She owes about $14,000 on the car and it was only 2 years old. Help!!! I need some advice. Neither of us have ever been through this type of issue before.
Posted: Mon May 12, 2008 02:17 pm Post Subject:
First...relax. Since he was completely at fault his insurance will figure out how much the total cost for the car minus depreciation and cover that. If they say they won't...you can fight them on it and show the amount of the loan and the cost new. Hopefully your sister got gap coverage when she purchased her new car. This would cover the depreciated total and allow the car to be paid off through insurance. Don't worry though...his insurance will be on the receiving end of the entire claim if his limits allow and then she has her insurance as a back up.
Posted: Tue May 13, 2008 11:51 am Post Subject:
I agree calm down a mite...I know it's stressful...If the vehicle is deemed a total the ins carrier will determine the ACV (actual cash value) of her vehicle and they will pay that amount...Could be more than she owes could be less (you don't say yr/make/model/mileage/options etc)...If it's (the acv) more than what she owes then the Ins carrier will pay her lien holder and she will get the balance if it's less than she owes (the acv) then she will be responsible for any balance left owing her lein holder...As the prior post states, find out if she has GAP ins. her lein holder will know..(GAP covers the 'gap' between the vehicles value and what is owed on it--the pay off)...
When the carrier evaluates her vehicle to determine it's ACV have her review the evaluation to make sure all options etc are there....If there is a beef with the evaluation let us know and we can maybe help her with some suggestions....
Please fill free to ask any and all questions....Welcome to the community by the way! :D
Posted: Tue May 13, 2008 01:55 pm Post Subject:
Thanks for the advice. Her car was a 2006 Chrysler Pacifica with about 66,000 miles on it. She owes $14300 on the car and her insurance company is offering to settle with $13000. Does she have to accept this settlement or can she go to the insurance company of the driver at fault? Also, she is having a lot of difficulty walking now, soreness in neck, shoulders, and back as well as dizziness when turning her head. Any recommendations?
Posted: Tue May 13, 2008 03:08 pm Post Subject:
Her insurance is making the offer and they will then go to his insurance if he is in deed at fault and get subrogated. She should let her insurance company know what is owed on the car and again see if she has Gap insurance to cover the amount owed on the loan of the car. If she is having any type of injury issue...she must let her insurance and his insurance company know about it because he will have to cover that (again if he was deemed at-fault). She must make that known as soon as possible and then they will have her to go a doctor they choose or an approved physician to get checked so it is on record and valid. Once you know the severity of the injuries, either insurance company will decide the plan of action. Keep us updated.
On a side note...What does she do for a living...66,000 miles on an '06 is a lot.
Posted: Wed May 14, 2008 02:10 am Post Subject:
Ask for more. Also you may be able to cut a deal with your lienholder, explain to them what happened and they may accept the $13000. I would definately be keeping notes and go to your physician for a checkup.
Posted: Wed May 14, 2008 11:15 am Post Subject:
66,000 miles on it.
WOW that's just a butt load of miles, and a 1475.00 deduction to boot from the value!!! Sounds like a fair offer they have made her...You don't say if it's 2 or all wheel driver or number of doors, options etc...but running it as a straight 4door 2wheel drive, with those miles, nothing on additional options I'm getting $12,250.00...So they probably are in the ball park...if you want to provide all the info on the vehicle (all options, limited/touring, 2 or all wheel drive etc) I'll look it up again...Does she have to accept this settlement or can she go to the insurance company of the driver at fault?
No she doesn't have to accept it (yet) and she certainly SHOULD have filed this with them...see what their offer is it might be more THEN she can make her decision...The other (at fault) company is going to pay back her carrier anyway when this is all over....But she can see where they are evaluation wise then make her decision....Also, she is having a lot of difficulty walking now, soreness in neck, shoulders, and back as well as dizziness when turning her head. Any recommendations
Yeah, go to the doctor! She needs to get checked out, also needs to let the at fault and her carrier know that she is going to have an injury claim as well....depends on your state if there will be a Bodily Injury claim (pain and suffering) from the other carrier or not...If you are in a PIP state (no fault) then her injury may not eclipse the threshold...they will have her to go a doctor they choose or an approved physician to get checked so it is on record and valid.
I don't know about all states and maybe with PIP, but ''around these parts'' no P & C company can tell you what doc to go to!!Also you may be able to cut a deal with your lienholder, explain to them what happened and they may accept the $13000.
Sorry, but when pigs fly!!! I've never known a leinholder to be so obliging...unless it's a we tote the note lot that has a lot of pressure put on them...Posted: Fri May 16, 2008 11:29 am Post Subject:
Dawn, I'm posting the note you dropped in my box here, so that you will get emailed a notification...
Lori - Thanks for the advice. Her car was a 2006 Chrysler Pacifica with about 67,000 miles. The options that I'm aware of are front airbags, power seats, power windows, air, Single Disc/AM/FM radio.
Dawn none of these options add anything..(in fact her mileage subtracts $1475.00). so you see if she had 'reasonable' mileage it would be 13,825...and no real beef....Let's do it this way, I get 12, 250.00 as a value then add the following to that figure if they apply...alumn/alloy whees 300-running boards-175-intermezzo stereo-375-leather seats-450-luggage rack-100-navigation system-900-power sunroof-600-rear entertainment system-800- theft RECOVERY system-125-towing/camper pkg-225...She owes $14K on the car and they are giving her $13K.
Is the 13k before or after her deductible? Also is this the figure from her carrier or the other (at fault carrier)?She's now having a lot of health issues - soreness, dizziness, difficulty walking
Why has she not gone to the doctor? This is silly Dawn, she needs to tell the at fault carrier and her carrier that she has an injury and get her happy little butt to the doc!No car to drive
Did the at fault company not put her in a rental at all?no money for a down payment.
Well honey, if she's upside down in the car, she just is...and really although it sucks that's not the insurance companies fault....Did you all check to see if she has gap insurance?Does she have to take the amount that her insurance company is offering or can she now go to the insurance company of the driver responsible for the accident?
Of course, she should file with the other company!!!!! See what their offer is and they should have her in a rental...tell her company she wants to wait a while and see what the other company will do first before she decides to utilize her collision coverage...Please ask any and all questions you all have, and let us know how she's doing...I don't like that, she's not walking right stuff...doc.doc.doc. YESTERDAY!
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