by Guest » Tue Feb 08, 2011 07:15 am
I just total loss a brand new car(2011 ford fiesta SE with automatic transmission) with 800mile odometer.I bought it about 17k and I pay it off. Is it possible that my insurance pay me the full money to buy a new car exactly like that one? If not, how much should I get?
Posted: Tue Feb 08, 2011 02:21 pm Post Subject:
Some carriers policy give coverage to value a vehicle with certain miles as new instead of used. Depends on the policy. Normally a policy would pay you ACV, which includes the depreciation on your vehicle. That is, they'd consider your vehicle used, not new. Reports suggest that a vehicle looses about 20% of it's value going from new to used.
Posted: Tue Feb 08, 2011 09:22 pm Post Subject:
Okay,thank you for your answer!
But I have a question, how can I check the policy?
And I just asked the adjuster of my claim about this and he just answered another thing to fool me...
Posted: Wed Feb 09, 2011 12:45 am Post Subject:
But I have a question, how can I check the policy?
You read it. It was provided to you when you obtained the policy. Or you obtain a copy from your agent and read it.Add your comment