by mani.pallapu » Wed Jan 30, 2013 07:29 pm
I involved in an auto accident and other driver was at falut. Other driver insurance estimated the car damage and given $18300 as repair cost and told that it is totalled. Since other driver has only $25k limit they asked me to go through my insurance as my car value is more than $25k. But my insurance estimated as $16400 and since it is not reaching 80% threshold limit they asked me to go for repair. And body shop started repair and after two months final amount is exceding $19200. At this point also my insurance is saying it is not totalled. Can you guys help me on this
Posted: Sun Feb 03, 2013 03:35 pm Post Subject:
thank you very much for your help and your valuable time.
Posted: Tue Feb 05, 2013 08:17 pm Post Subject:
In case if repair work cost reaches 80% of actual car value, do i have right to ask for totalling the car or not?
Posted: Wed Feb 06, 2013 02:51 pm Post Subject:
Insurance is not Burger King. You can't have it your way. The decision is up to the insurance company alone. If they want to pay to repair it, that's their choice.
Posted: Thu Feb 14, 2013 01:55 am Post Subject:
My car got repaired with final amount $19200. Today I went to a car dealer to trade-in and they pulled CARFAX and report showed as TOTAL LOSS. And they are not ready to trade-in as this car is worthless now as CARFAX showing it as TOTAL LOSS. Even if I claim diminished value I don't think they will compensate. What should I do now?
Posted: Thu Feb 14, 2013 11:30 am Post Subject:
And they are not ready to trade-in as this car is worthless now as CARFAX showing it as TOTAL LOSS.
The car is not "worthless", it is only unacceptable to the dealer as a trade-in vehicle. Surely there is a dealer somewhere that would take the vehicle in trade, give you a low ball amount for it, and turn right around and sell it for a couple of thousand dollars more to someone else.
But now you have the basis for suing everyone involved. The at-fault party and their insurance company, and your insurance company.
You are going to need an experienced INSURANCE BAD FAITH attorney for this, not some personal injury shylock that advertises on television and radio. They will know how to proceed with your case.
Don't delay in this. Find an attorney and have them get the ball rolling. You are going to give up 30% to 40% of the judgment, unless your state allows attorney's fees to be awarded separately from the damage claim.
But you still have the vehicle, it was repaired and is in safe working order, so you can continue to drive it until the wheels fall off or you can sell it on your own for the highest price you can get, having advised the purchaser of the vehicle's condition. It still has value, only not as much as an undamaged model.
Posted: Sat Mar 16, 2013 12:03 am Post Subject:
The insurance company made a poor decision in this case. the appraiser should have considered the salvage value of your vehicle, and not stuck to an arbitrary 80% threshold. If they researched salvage value, they probably would have been able to total the car from the beginning, unless there is some Florida state law mandating an 80% threshold. The appraiser should also consider additional damage, rental expense, and probable mechanical damage that he/she was unable to see, but could be reasonably expected from the collision. At this point I would do some research on salvage values (try the Copart or IAA websites) by trying to find sold auction prices for similar vehicles with similar damage. Then I would start by making a lot of noise with my insurance company, especially in light of what your dealer is telling you. I would talk to supervisors at the insurance company, and anyone else I could think of. Poke the hornet's nest, and see where it leads. Is there a Florida law similar to Massachusetts statute 93A? That would allow you to go after triple damages. There may be some unfair claim practices used here as well.
Posted: Sat Mar 16, 2013 12:11 am Post Subject:
You may have trouble determining salvage value on your own. You may want to talk to people at a local used auto parts yard. They can get sales results for these type of sales, as can insurance appraisers. Good luck, and don't give up.
Posted: Sun Mar 17, 2013 03:17 am Post Subject:
Talk to an attorney about your case.
Add your comment