Fergasun Posted January 18, 2007 Share Posted January 18, 2007 A stupid teenage driver made a left turn and crashed into my wife's car. They hit the front left tire and smashed it in pretty well, damaging the door, bumper, and probably suspension. After two weeks we'd been figuring the insurance would fix the car, and it was ~ $6000 in damage. The body shop we use had gotten all the parts and was ready to fix, when the insurance company came back and changed their minds... calling it a total loss. 2003 Hyndai Elantra with ~ 65k miles on it. We just changed the timing belt on that sucker too. Oh yeah, I also just paid it off for her as a X-mas present (she was poor so she had to do some no $$$ down financing). We're pretty mad, because we just paid it off, and paying it off was such a struggle for me. Now the car insurance won't fix it, and it seems like they are going to end up low balling us. Kelly Blue Book says the car is worth: $8,500 - $9,300, with trade-in value of $6,000. I'm really going to go ballistic if they only offer us the trade-in value. Anyway, I have no idea what to expect now and will need to figure out the best way to buy a used car. Link to comment Share on other sites More sharing options...
No_Pressure Posted January 18, 2007 Share Posted January 18, 2007 Yeah, whats new about car insurance companies? What group is it? Geico or something? My sister has an Elantra, it felt like driving in a go-kart, at least your wife isnt seriously injured right? Link to comment Share on other sites More sharing options...
Leonard Washington Posted January 18, 2007 Share Posted January 18, 2007 good luck...i don't think insurance companies like foreign cars or something. a tractor trailer rolled back and ruined the hood on my 3 day old civic. some local insurance company....totalled it. i was like WTF?!? i paid cash for the car and they wanted to give me TRADE IN value. then they wanted to pay off the loan, BUT THERE WAS NO LOAN! then they couldn't figure out why the car was already paid off and they claimed they did...long story short. i got a lawyer. Link to comment Share on other sites More sharing options...
Chump Bailey Posted January 18, 2007 Share Posted January 18, 2007 You're at their mercy. I hate insurance companies! Link to comment Share on other sites More sharing options...
Fergasun Posted January 18, 2007 Author Share Posted January 18, 2007 Yeah, it's a local car insurance company. I've already got a lawyer, more for the whole personal injury part. My in-laws were in the car. They are visiting from Korea on temporary visa's. Unfortunately for the other driver, Korea has socialized health care... where would my in-laws get health insurance from? Both of them were getting some type of medical treatment, my mother-in-law was worse due to her stressful situation as it was. Not a fun thing for us. Link to comment Share on other sites More sharing options...
jrockster21 Posted January 18, 2007 Share Posted January 18, 2007 My ex-girlfriend flipped her 1993 Wrangler in 2002, and they gave her 7 grand for it (it was NOT in perfect condition) which was the resale value, not the trade-in value. I don't remember what insurance company she had though... Link to comment Share on other sites More sharing options...
Kilmer17 Posted January 18, 2007 Share Posted January 18, 2007 Here's what you should do. Call your OWN Auto Insurance Company and file a claim. Let them and their lawyers deal with the other persons company. Otherwise you will probably have to hire a lawyer on your own to fight it, because you can be sure that they wont offer you blue book. You'll be lucky if they offer trade in value. Link to comment Share on other sites More sharing options...
Fergasun Posted January 18, 2007 Author Share Posted January 18, 2007 I've always hated insurance companies too... that's why I hired a lawyer anyway. Now I see why those lawyers are always taking out ads on TV... I'd rather have someone working for me than against me... in this case there are 2 car insurance companies that I feel will work against me... since the other will try to claim it wasn't their driver's fault. We're pretty much expecting the police report to say the other driver should've have turned if he couldn't make it. He was trying to say, "We hit each other...", "It wasn't my fault...", but I think he ended up saying, "I was turning left, and didn't see their car, and then we collided." Link to comment Share on other sites More sharing options...
HOF44 Posted January 18, 2007 Share Posted January 18, 2007 I wonder how much it costs to get a policy that covers the gap in amount owed versus the worth of the vehicle. I know that would not have helped in your situation but it would be interesting to know the cost difference. Link to comment Share on other sites More sharing options...
HOF44 Posted January 18, 2007 Share Posted January 18, 2007 Here's what you should do.Call your OWN Auto Insurance Company and file a claim. Let them and their lawyers deal with the other persons company. Otherwise you will probably have to hire a lawyer on your own to fight it, because you can be sure that they wont offer you blue book. You'll be lucky if they offer trade in value. I thought thats what he did. Yea thats the way i always handle it. I let my insurance company take care of it. Link to comment Share on other sites More sharing options...
Fergasun Posted January 18, 2007 Author Share Posted January 18, 2007 I wonder how much it costs to get a policy that covers the gap in amount owed versus the worth of the vehicle. I know that would not have helped in your situation but it would be interesting to know the cost difference. Actually, looking it up it's not that much for what you get. I'm married, over 25, and with a baby. So my insurance seems to have gotten cheaper in the past 3 years. Maybe that's also because I'm making more money.... I use a local insurance agent and I think they've saved me a ton of $$$ in premium payments and coverage. Link to comment Share on other sites More sharing options...
HSW Posted January 18, 2007 Share Posted January 18, 2007 A stupid teenage driver made a left turn and crashed into my wife's car. They hit the front left tire and smashed it in pretty well, damaging the door, bumper, and probably suspension. After two weeks we'd been figuring the insurance would fix the car, and it was ~ $6000 in damage. The body shop we use had gotten all the parts and was ready to fix, when the insurance company came back and changed their minds... calling it a total loss. 2003 Hyndai Elantra with ~ 65k miles on it. We just changed the timing belt on that sucker too. Oh yeah, I also just paid it off for her as a X-mas present (she was poor so she had to do some no $$$ down financing). We're pretty mad, because we just paid it off, and paying it off was such a struggle for me. Now the car insurance won't fix it, and it seems like they are going to end up low balling us. Kelly Blue Book says the car is worth: $8,500 - $9,300, with trade-in value of $6,000. I'm really going to go ballistic if they only offer us the trade-in value. Anyway, I have no idea what to expect now and will need to figure out the best way to buy a used car. How can you say that you have been screwed when you don't even know how much they will pay you yet? Did you have full coverage? You are also probably much better off in the long run because from my experience once a car gets in a major accident it is all down hill from there. Your trade-in value would also be much lower since you would have had a major accident in the car. That blue book number you are looking at is misleading the auto and insurance industry does not even use the blue book figures. I understand how you feel but you need to consider all the facts first. Link to comment Share on other sites More sharing options...
Fergasun Posted January 18, 2007 Author Share Posted January 18, 2007 Well, we'll see, but I don't expect insurance to be generous... and the estimate was $6-7k in repair. I really was screwed by the driver who hit her car... Link to comment Share on other sites More sharing options...
HSW Posted January 18, 2007 Share Posted January 18, 2007 Well, we'll see, but I don't expect insurance to be generous... and the estimate was $6-7k in repair. I really was screwed by the driver who hit her car... Insurance companies are not supposed to be generous... If the repair amount was that high then they were right to call it a total loss. From the numbers that you gave that is about how much your car is really worth. Link to comment Share on other sites More sharing options...
artmonkforHOF Posted January 18, 2007 Share Posted January 18, 2007 I think the title is a little redundant. Screwed and Car insurance are the same thing arent they? Anywho, I have a few friends who drive imported cars (im not talking a honda civic, but cars not originally sold in North america) and what they have had to do for their insurance is get an appraisal for both the actual vehicle and what it would cost to replace it. Most of them have car cost of $5-$12k, but it costs them an extra $3-4k in shipping and legal paperwork involvedin bringing over a foriegn car. This info prompted me and a few other friends who have modified cars to get appraisals done every few years so if they ever get into a major accident and their insurance company tries to give them $5,000 for their car that has over $25,000 of custom/aftermarket parts on it they dont get screwed. The kicker is, one of my firends presented his insurance compnay with the appraisal to which they promptly replied" we didnt know you had that on your car, which you should have informed us about so now your policy is null and void" Got to love insurance. Anyone who says lawyers are the scum of the earth have obviouslly not met anyone associated with the insurance industry. Link to comment Share on other sites More sharing options...
artmonkforHOF Posted January 18, 2007 Share Posted January 18, 2007 Insurance companies are not supposed to be generous...If the repair amount was that high then they were right to call it a total loss. From the numbers that you gave that is about how much your car is really worth. With your posts here, I get the feeling you work in insurance HSW. Do you? Have you been lured by the Dark side? If so what is it like to be a heartless, evil anal retentive liar? just curious. Link to comment Share on other sites More sharing options...
HSW Posted January 18, 2007 Share Posted January 18, 2007 I think the title is a little redundant. Screwed and Car insurance are the same thing arent they?Anywho, I have a few friends who drive imported cars (im not talking a honda civic, but cars not originally sold in North america) and what they have had to do for their insurance is get an appraisal for both the actual vehicle and what it would cost to replace it. Most of them have car cost of $5-$12k, but it costs them an extra $3-4k in shipping and legal paperwork involvedin bringing over a foriegn car. This info prompted me and a few other friends who have modified cars to get appraisals done every few years so if they ever get into a major accident and their insurance company tries to give them $5,000 for their car that has over $25,000 of custom/aftermarket parts on it they dont get screwed. The kicker is, one of my firends presented his insurance compnay with the appraisal to which they promptly replied" we didnt know you had that on your car, which you should have informed us about so now your policy is null and void" Got to love insurance. Anyone who says lawyers are the scum of the earth have obviouslly not met anyone associated with the insurance industry. Ah yeah, I would have cancelled them also. With all that after market gear that car is a high theft target and or street racing (possible) vehicle. They just went from high risk to super high risk. No offense but insurance is a risk management buisness. Link to comment Share on other sites More sharing options...
HSW Posted January 18, 2007 Share Posted January 18, 2007 With your posts here, I get the feeling you work in insurance HSW. Do you? Have you been lured by the Dark side? If so what is it like to be a heartless, evil anal retentive liar? just curious. No I am in the military. I was young once and had my car totaled. I also had dreams of untold riches...then I got some education and learned how the system works. Link to comment Share on other sites More sharing options...
Fergasun Posted January 18, 2007 Author Share Posted January 18, 2007 On CarMax, they are listing a 2002 Hyundai Elantra with more miles at $9k... a 2003 with 10k fewer miles around $10k... and one with 75k miles at $9k. Juding by that it would cost ~ $8-9k to get a similar car... not $6-7k. Link to comment Share on other sites More sharing options...
twa Posted January 18, 2007 Share Posted January 18, 2007 On CarMax, they are listing a 2002 Hyundai Elantra with more miles at $9k... a 2003 with 10k fewer miles around $10k... and one with 75k miles at $9k.Juding by that it would cost ~ $8-9k to get a similar car... not $6-7k. They total at about 75% 0f value,plus they consider likelihood of addition costs and rental. Your best bet is simply see what a similar car is selling for...which you did Being the other persons fault ,the settlement is usually generous and you do not have to accept the first offer. Link to comment Share on other sites More sharing options...
Reic Posted January 18, 2007 Share Posted January 18, 2007 My friend took my car out one night and was making a left turn and got into a head on collision with a person that thought he was going to them (which wouldn't of happened) and totalled my car, I had had it for 3 months, it was a 2001 hyundai tiburon. I dunno what my dad was thining but paid the car off and had me giving him money for it so we only had liability only. The other peoples insurance company tried to get me to pay them 8 grand for their car and I just refused since I wasn't driving or even aware my car was gone since I was at a party. They didn't get their money and I didn't get mine. I drive an '01 celica now but have full coverage on it since I have a loan on it. Link to comment Share on other sites More sharing options...
Gallntfox Posted January 19, 2007 Share Posted January 19, 2007 Hyundais and other Korean made cars depreciate faster than just about any other car on the market. Buy one new and try to trade it in a couple of years later and you'll see what I mean. A few years back there were some banks that wouldn't even finance a used Hyundai PERIOD. Now they have improved in quality rankings but there's a reason that insurance companies charge A LOT of money to insure them as compared to similiar make and models. As an owner of an insurance agency who has close ties to the car business as well I see a lot in this thread that needs clarification but I am pressed for time right now. I will say that in 15 years I have NEVER once had a client call me with an unhappy settlement amount on a total loss vehicle. My company settles on "average retail value" which tends to be very fair. There are so many difference is products offered from company to company that you can do yourself a big favor if you take the time to learn about them. We offer a "guaranteed replacement policy" on a new car in case of total loss. Some sage advice one poster gave you...if you fell lowballed by the other party's company file a claim through your own. They will withhold your collision deductible from the settlement but then attempt to recover the money through the subrogation process...along with your deductible...go that route if your company offers a better settlement. Link to comment Share on other sites More sharing options...
Gallntfox Posted January 19, 2007 Share Posted January 19, 2007 One other thing I'd like to add. People buy car insurance because they have to have it but oftentimes spend more time researching what kind of car stereo to buy for their ride. Many people use price as the determining factor when choosing a company with no regard to what they are actually getting in terms of service or coverage. Talk to an insurance professional to make sure that you're adequately covered...that's what we're here for. A lot of times the people that come to me complaining about their prior company only have themselves to blame. They relied on a customer service rep at a 1-800 # who may have been there for a week, or may have purchased a policy off of the internet without any idea of what they were buying. Or they may have walked into a local agent's office and bought a policy from someone that was working at Subway last week. Take the time to sit down with an experienced agent and review your coverages and understand your policy at the time of purchase. Insurance is a big expenditure in most households and you're doing yourself a disservice if you don't take the time to review what you're getting for your money. It will be time well spent when you find that you actually need your insurance company to pay a claim. By the way...we are a full service agency yet I take business ALL day long from those "cut rate" companies by providing cheaper prices and more comprehensive coverages...so it pays to shop around! :2cents: Link to comment Share on other sites More sharing options...
Johnny Punani Posted January 19, 2007 Share Posted January 19, 2007 Hire a hitman. Wack'em out!!! Link to comment Share on other sites More sharing options...
Gallntfox Posted January 19, 2007 Share Posted January 19, 2007 2003 Hyndai Elantra with ~ 65k miles on it. Pays to look into depreciation as well when purchasing a new car instead of blaming it ALL on the insurance company. From epinions.com... http://www.epinions.com/content_102826872452 Cons The 5th and 6th speakers are teeny-tiny, engine needs more �oomph,� serious depreciation. With a base price starting around $14,900, the 2003 Hyundai Elantra GT is a very sensible choice for those shopping for low-priced, good quality vehicles, but are tired of the bland, “everybody and their momma has one” alternatives offered by Honda (Civic), Nissan (Stanza), or Chevy (Cavalier). It offers just as much car as the rest of the manufacturers, plus a few standard extras that you’d have to shell out for with the other guys. Car buyers will have to pay attention to depreciation thanks to market perception of Hyundai autos -- the Elantra GT will depreciate by nearly a third as soon as you drive it off the lot. Link to comment Share on other sites More sharing options...
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