Car accident and insurance!

[waggy]

Ok on the 4th my wife was driving my car back from her mothers they were out birthday shopping for me!. It was snowing pretty bad and the streets were covered in about 2 inches of snow.

anyway she slid through a stop sign through a ditch and into the cornfield (it was a T intersection). NOBODY was hurt (they thought she broke her arm but doctor today said it was fine).

I talked to the body shop where the car was towed and they said that insurance may total it.

My question is how to deal with insurance. i have heard that they low-ball you a LOT. I still owe more then it is worth. Also how does insurance come to the figure that it is worth? Should i be doing anything?


heh when she got home from the emergency room she said "well you been saying you wanted a new car!" sigh.

but thanks! any advice would be :disgust:helpful.

 

[Splork]

The insurance company may try to low ball you at first, however, the most you're going to get and should fight for is the current blue book value of the car. If you still owe more than blue book, you'll be stuck paying the difference. That's where gap insurance comes in handy.

-sp

 

[akubi]

wow upside down car loan, you are fvcked. you still gotta pay rest of the loan after your insurance covers its worth.

 

[montanafan]

Did you get gap insurance when you bought the car?

 

[waggy]

Originally posted by: montanafan
Did you get gap insurance when you bought the car?

I really can't remember and i can't find the papers heh. both me and my wife seem to think we did.

sigh why couldnt she wreck the old paid off car.

I really hope we did heh.

 

[JEDI]

kelly blue book for ballpark price of car.

if you made improvements on car, tell them that. (but new tires dont count since thats considered wear and tear )

there are 3 values for kbb (dealer/street/trade in)... it depends on the insurance company on which they use.

 

[TallBill]

At least she is ok.

 

[montanafan]

Hopefully you have it. I can understand how it could be hard to remember if you got it or not. When you're signing the papers the financing guy goes through all those options - extended warranty, gap insurance, life/disability insurance, service plan, etc. I just remember because I knew going in that gap insurance was the only extra I wanted.

It might also help if you could go ahead and get a couple of estimates from body shops who would say it's totaled to have on hand when the adjuster takes a look at it.

Good luck!

Edit: For what Jedi said. Be sure they add in any semi-expensive add-ons you made to the car like expensive wheels, spoiler, etc.

 

[Broadkipa]

check out your local garages and local adverts for a similar spec car and find out how much it will cost to replace it. cut out the adverts etc and if the insurance company screw you over refuse there offer and send them all the adverts showing how much it will cost you to replace your car like for like.

 

[waggy]

Originally posted by: Broadkipa
check out your local garages and local adverts for a similar spec car and find out how much it will cost to replace it. cut out the adverts etc and if the insurance company screw you over refuse there offer and send them all the adverts showing how much it will cost you to replace your car like for like.

ohh good idea. will do this!

 

[waggy]

Ok they made me an offer of $6762 for the car. KBB has it at $7870 (need at least $8k). going to do some searching so i can print off proof etc.

hmm they claimed to use NADA even useing that i get $7570 for it. grr I pay on time EVERY month for the last 16 years. This is my wife's first accident. you think they would be helpfull instead of trying to screw me.

 

[rmrf]

I thought the purpose of insurance companies requiring full insurance on a car with a loan was so you didn't end up in a situation like this?

 

[waggy]

Originally posted by: rmrf
I thought the purpose of insurance companies requiring full insurance on a car with a loan was so you didn't end up in a situation like this?

nope.

its so they get something. There is another insurance you can get called GAP insurance that will pay the diffrence.

 

[rmrf]

Originally posted by: waggy

Originally posted by: rmrf
I thought the purpose of insurance companies requiring full insurance on a car with a loan was so you didn't end up in a situation like this?

nope.

its so they get something. There is another insurance you can get called GAP insurance that will pay the diffrence.

interesting. I should probably check and make sure I am covered. I'm also at the awkward time in the loan where I am most likely upside down.

 

[leftyman]

Originally posted by: TallBill
At least she is ok.

:thumbsup:

 

[waggy]

Originally posted by: waggy
Ok they made me an offer of $6762 for the car. KBB has it at $7870 (need at least $8k). going to do some searching so i can print off proof etc.

hmm they claimed to use NADA even useing that i get $7570 for it. grr I pay on time EVERY month for the last 16 years. This is my wife's first accident. you think they would be helpfull instead of trying to screw me.

OK nada is $7570
KBB is $7370
The dealerships have it listed anywhere from $7999-10999

And NO gap insurance :disgust:

I printed out a bunch of stuff to fax to the insurance agency. hopefully they raise the price to at least pay it off heh

 

[rmrf]

Originally posted by: waggy

Originally posted by: waggy
Ok they made me an offer of $6762 for the car. KBB has it at $7870 (need at least $8k). going to do some searching so i can print off proof etc.

hmm they claimed to use NADA even useing that i get $7570 for it. grr I pay on time EVERY month for the last 16 years. This is my wife's first accident. you think they would be helpfull instead of trying to screw me.

OK nada is $7570
KBB is $7370
The dealerships have it listed anywhere from $7999-10999

And NO gap insurance :disgust:

I printed out a bunch of stuff to fax to the insurance agency. hopefully they raise the price to at least pay it off heh

just tell them they better give you enough to cover the loan, or you're going to another company

 

[waggy]

Originally posted by: rmrf

Originally posted by: waggy

Originally posted by: waggy
Ok they made me an offer of $6762 for the car. KBB has it at $7870 (need at least $8k). going to do some searching so i can print off proof etc.

hmm they claimed to use NADA even useing that i get $7570 for it. grr I pay on time EVERY month for the last 16 years. This is my wife's first accident. you think they would be helpfull instead of trying to screw me.

OK nada is $7570
KBB is $7370
The dealerships have it listed anywhere from $7999-10999

And NO gap insurance :disgust:

I printed out a bunch of stuff to fax to the insurance agency. hopefully they raise the price to at least pay it off heh

just tell them they better give you enough to cover the loan, or you're going to another company

heh don't think that will work.

As it is we still (as of now anyway) pay less then any other place around. My wife had 13yr good driving discount. I have a 9 year good driving discount. We also have the house on it.

but then again i might check around

 

[JulesMaximus]

What kind of car? Year/Make/Model?

Edit-Glad your wife is okay!